Wednesday, July 19, 2017

Americans’ Retirement Benefits Have Been Slashed

...Workers aren't necessarily getting much for this extra health spending. In fact, other studies have shown that workers' contribution to their own health care, in the form of deductibles and co-pays, is also up. 
Unfortunately, the rising cost of health care is hitting Americans twice. While they're working, health costs are bleeding away their ability—and their employers' ability—to pitch in for retirement. After retirement, unless current trends change, they face the daunting prospect of higher and higher medical bills.
The result is pessimism about retirement. Labor Department statistics show more and more Americans working past 65 and even 70. In a Willis Towers Watson survey of more than 4,700 full-time workers, 76 percent agreed that "my generation is likely to be much worse off in retirement than my parents' generation was." More than a quarter of workers 55 or older said they "feel stuck" at work and would retire if they could.
https://www.bloomberg.com/news/articles/2017-07-19/americans-retirement-benefits-have-been-slashed

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