In a Forbes column, NIRS Executive Director Dan Doonan writes that as America ages and income inequality deepens, concerns about retirement security are mounting. Some voices, however, indicate that retirement concerns are exaggerated, relying on data indicating that older Baby Boomers have largely fared well in retirement.
But new research published in The Journal of Retirement finds that Late Boomers, Generation X, and Millennials face a far less secure retirement landscape. The research, Retirement Then and Now: Shortfalls in the Retirement System Will Fail Many Future American Retirees, documents why a “don’t worry” narrative is dangerous.
In this Q&A, Doonan discusses this new research and America’s retirement outlook with Dr. Teresa Ghilarducci, one of the research authors, a leading retirement expert, and an economist at The New School.