It is shocking, and will, most likely get worse, as younger generations need more and more just to survive, and to possibly support their parents and their children–for an indefinite period of time.

Add to that, the possible absence or diminished benefits of Social Security and Medicare for future generations, and you have a real recipe for disaster.

Many people believe they are making more and saving more today, but they will also have to spend much more than previous generations for everything from homes, to medical care, retirement, etc., etc., so the net result may not prove to be much different in the final analysis. It will be interesting to look at the stats on the 50+ crowd 20 years from now.

As a BB, I’m very glad we, and most of our friends got the retirement memo years ago, and planned well.