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Social Sciences - The Retirement Challenge: What's Wrong with America's System and A Sensible Way to Fix It

Description

Book Synopsis: A comprehensive plan from two leading experts on how to fix America's outdated retirement systemAmerica's retirement system has serious problems. While it works well for some retirees, millions of others don't have the sound retirement they have worked decades to secure. Roughly 40 percent of today's $4 trillion federal budget is devoted to supporting retirees, which will grow to roughly half over the next decade--imperiling the sustainability of the whole system. The system is out of date. It reflects the America of a bygone age--an era in which company or union pensions provided middle-class families a decent standard of living in retirement. In America today, however, private pensions have mostly disappeared, Social Security is threatened to go insolvent, people are living longer, and health care costs continue to rise. Poorer retirees now must choose between buying enough to eat and their prescription drugs.

In The Retirement Challenge, influential former White House economists Martin Neil Baily and Benjamin H. Harris explore America's outdated retirement system and explain how improving retirement requires changes by families, employers, and policymakers alike. Households need to save more, get smarter about their finances, and trade part of their 401(k) balances for insurance products. Companies need to take a more active role in their workers' retirements. And lawmakers need to amend the tax code, Social Security, and a host of other programs.

Despite today's wide political divide, policymakers from both parties can come together around changes that will promote a stable retirement. This book shows that these changes do not represent a radical overhaul. If families, businesses, and policymakers do their part, everyone--current retirees and future generations--can enjoy a much more secure and prosperous retirement.

Details

Are you worried about the state of America's retirement system? You're not alone. Millions of hardworking individuals are facing the harsh reality that their retirement prospects are far from secure. But fear not, because we have the solution. Introducing "The Retirement Challenge: What's Wrong with America's System and A Sensible Way to Fix It". This comprehensive guide, written by two leading experts, Martin Neil Baily and Benjamin H. Harris, offers a game plan to fix America's outdated retirement system once and for all.

With approximately 40 percent of the federal budget allocated to supporting retirees, it's clear that the current system is unsustainable. But why continue down this path when there are sensible solutions within our reach? This book unveils the flaws in the current system, which was designed for a bygone era. Today, private pensions are scarce, Social Security is under threat, people are living longer, and healthcare costs are skyrocketing. It's no wonder that poorer retirees are forced to make tough choices between basic necessities and life-saving medications.

In "The Retirement Challenge", Baily and Harris navigate the complex landscape of America's retirement system and offer practical solutions for individuals, employers, and policymakers alike. They urge households to become more financially savvy, boosting their savings and exploring insurance products to supplement their 401(k) balances. It's time for companies to take a more proactive role in securing their employees' retirement futures. And finally, policymakers need to make crucial amendments to the tax code, Social Security, and other relevant programs.

This book rejects partisan politics and embraces the notion that a stable retirement should be a shared goal, regardless of party affiliation. By implementing these changes, we can pave the way for a brighter future for current retirees and generations to come. "The Retirement Challenge" proves that these adjustments are not radical overhauls but necessary improvements. It's time for families, businesses, and policymakers to unite and ensure that everyone can enjoy a secure and prosperous retirement.

Ready to take charge of your retirement? Don't miss out on this life-changing opportunity. Get your copy of "The Retirement Challenge: What's Wrong with America's System and A Sensible Way to Fix It" today and join the movement towards a more secure future. Click here to make your purchase!

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