ill leave millions of Americans in dire straits.
Richman looks to the current group about to retire, those in their 50s, and finds that, based on a study by the Rand Corporation, most Americans who have retired or who will do so shortly have done at best an adequate job of saving enough to assure their long-term economic security. Even then, these people will have such security only as long as Medicare, Social Security, and private pension funds continue to deliver at or near the present levels. This is not something that is itself assured, given the concerns about imminent bankruptcy to the system and threats to change these systems in ways which might impact retired Americans in the near future. Those in their 30s and 40s should take heed and drastically increase their savings or they will not be able to afford to retire.
The Rand Corporation study found that the total assets of the median
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