I don't know if we're ready for this. We are facing a major crisis in this country. The

retirement crisis is here. And this is not just something that will affect Americans on an

individual basis. The implications of this have the potential to have disastrous effects

across our entire society. It's not news that many

Americans are not saving enough for retirement, many living paycheck to paycheck. This has been

happening for years now. But for some reason, we've like collectively decided to acknowledge

this truth and then do nothing about it at all. It's been estimated that about 80% of retirees are struggling today,

according to the National Council on Aging. 80%. Their findings suggest that the U.S.

wealth gap is continuing to widen with over 19 million older adult households that cannot

cover their basic living costs, about 34 million American households that could not

sustain a financial shock like a health issue, loss of income, or long-term care needs.

And this problem is only projected to worsen as Social Security becomes insolvent,

as the oldest members of Generation X, who are basically guinea pigs in this experiment going

wrong, are set to retire.

That's right.

Today's retirement setup, where employees are responsible for contributing to a plan like a 401K,

is just an experiment that is a total disaster.

After the pension plan was phased out in the 1980s, the 401K became the primary retirement vehicle for many American workers, but the 401k was never meant to stand on its own.

It was created to act as a supplement to the pension. They were supposed to go hand in hand.

But this is why the 401k has proven time and time again to fail American retirees.

This is no longer just about money.

This retirement crisis has gotten out of hand. The National

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