25% plan on retiring, 17% of the workforce works for state, federal, and local govt, so basically they are the only ones that will ever be able to retire. About 8% of the ones involved in production plan to retire, probably 2/3 of them won’t be able to afford it, while the govt employees they support get full insurance, pensions, etc.
17% of the workforce works for state, federal, and local govt,
Federal pensions are awful.....1 percent per year. It is better to have a 401K. I think people are going to be surprised to see how much money they have in their 401K when they retire. I think the worry is for nothing.