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Description of Up in Smoke: How the Retirement Crisis Shattered the...
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With the first of the Baby Boom generation having reached the traditional retirement age of sixty-five in 2011, the number of retirement age individuals is expected to grow by 10,000 each day for the next fifteen years. By 2030, when the last of the Baby Boomers will have turned sixty-five, an estimated 18% of the US population, or sixty-five million Americans, will have reached retirement age. From Social Security to corporate defined benefit plans, public employee retirement systems and 401(k) and other defined contribution plans, our retirement funding as a nation is deeply underwater. Up In Smoke provides a startling examination of our nation's retirement systems and explores how a pending crisis in retirement funding could threaten the US economy in the years ahead. Those nearing retirement, as well as generations to follow will increasingly be seeking an understanding of how we arrived at this difficult place and just what hope lies ahead. Up In Smoke provides those insights.