The Phaserl


America’s Broken Promise

by Dennis Miller, Casey Research:

Part of America’s promise has always been that if you were honest, reliable, and worked hard throughout
your life, in your old age you’d reap the fruits of your labor and be able to live out the rest of your
days in peace.

That is no longer true. The old-style, secure company pensions are all but gone, and more or less left to
their own devices, fewer and fewer Americans are financially prepared for retirement.

According to recent surveys:

  • 57% of US workers have less than $25,000 in total household savings and investments.
  • Only about half of Americans could come up with $2,000 if an unexpected need were to arise within
    the next month.
  • 61% of Americans fear outliving their money more than they fear dying.

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