Technically, I've been retired for some time now. All I ever do is occasionally write songs for friends, such as one, for a friend who had just turned 80. I wrote a song for him called, The First 80 Years are The Hardest. ↗
Well, the big elephant in the whole system is the baby boomer generation that marches through like a herd of elephants. And we begin to retire in 2008. ↗
Obviously, people with low or even moderate incomes could not afford such savings rates, and even diligent savings from their low wages would not be enough to pay for either retirement or healthcare. ↗