What factor in particular makes the problem so urgent now?
There have always been a certain number of individuals who have suffered reduced living standards in retirement. What makes the problem so urgent now is that the size of the retiree population is about to explode. Between now and 2030, the number of Americans 65 and older will more than double, from 35 million to 77 million, as baby boomers retire. Consequently, experts predict that significantly more retirees will suffer reduced living standards than in previous generations, especially given the other factors facing future retirees.
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- What factor in particular makes the problem so urgent now?
