The reality is that most working Americans will continue to struggle to achieve retirement security because the ownership of financial assets is highly concentrated among the wealthiest.Sep 1, 2021 Forbes
Stark And Growing Economic Inequality Fuels Retirement Insecurity
Dan Doonan Contributor
I’m executive director, National Institute on Retirement Security.
The inequality buzzword is used as the cause of everything from people not saving to overcooking the pasta.
Read the above quote carefully, focus on because. That implies that there are no financial assets available to average people, no growth potential and that the wealthy have sucked all the potential out of everyone else’s opportunities.
Tens of millions of Americans are prudently planning and investing for their retirement. Tens of millions more could be doing better if they better managed their spending and exercised some fiscal discipline in their lives.
With the exception of those in chronic poverty or close to it, there is no excuse for not saving and investing for the future relative to ones income. Inequality has nothing to do with it. Build your own financial assets.