In 2019, the median income in the United States will likely top $60,336, while an American can, on average, expect to live well past their 78th birthday.
The official retirement age – the "kick-in" for full Social Security benefits – is now 66 years and two months. That's up to a maximum of $2,861; the estimated average monthly benefit is $1,461.
Lurking between the lines of these dry numbers are some frankly pretty shocking implications…
If you're among the 58% of Americans who have any retirement savings at all, you stand a very good chance of outliving your money by a considerable margin.
The grass doesn't look much greener on the other side. Forty-two percent of Americans haven't saved a nickel and are relying on a Social Security system that looks more and more like the Alamo each year to provide essentially all of their retirement income.
So retirement is a big problem right now, but the proposed solutions all seem to boil down to "invest earlier and save more." That's hardly helpful.
What will help – what could potentially bring the retirement crisis to an end for everyone – is to learn exactly how to make your money make you money.
About the Author
Tom Gentile is one of the world's foremost authorities on stock, futures and options trading.
With more than 25 years' experience trading stocks, futures, and options, Tom's style of trading systems and strategies are designed to help individual investors propel themselves past 99 percent of the trading crowd.