The U.S., which once stood as a beacon of prosperity, is now trailing behind in the retirement race. What was once seen as an epitome of the golden age has now slipped out of reach for many Americans. Just imagine you’ve worked hard your entire life, and now you are looking forward to those golden years of relaxation and well-deserved peace after your retirement. But you know what? That dream has been cut short for many Americans. According to a recent report by Sen. Bernie Sanders, chair of the Senate Health, Education, Labor, and Pensions Committee, the future looks bleak for a significant portion of older Americans. The report highlights a startling statistic from the National Retirement Risk Index – it found that nearly half of households won’t be able to maintain their standard of living after retirement. And it gets worse with this one – A staggering 56% of low-income households and 45% of middle-income households are at risk of falling short of their preretirement standards by the time they hit 65.
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