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Longer life spans and disappointing investment returns will help create a $400 trillion retirement-savings shortfall in about three decades, a figure more than five times the size of the global economy, according to a World Economic Forum report.
I am fighting to get to the point where my retirement income is 70% of my salary but I keep getting these huge raises, inflating my salary to the point where 70% just isn't feasible anymore.
Seriously, the summary for this article should be that mature economies cannot consistently achieve the growth of developing economies and some of the world's biggest economies will be significantly more developed by 2050.
I am fighting to get to the point where my retirement income is 70% of my salary but I keep getting these huge raises, inflating my salary to the point where 70% just isn't feasible anymore.
Seriously, the summary for this article should be that mature economies cannot consistently achieve the growth of developing economies and some of the world's biggest economies will be significantly more developed by 2050.
If you only spend 20% of your income there is no reason to target replacing 70% of your income. You need to revise your plan
Up to about 100 years ago there was very little retirement savings... people kept working, leaned on family, church, and scrimped along on what they could get from friends and charities. Today we are short of what we should have but the world will not end.
It seems to me that the problem isn't money, otherwise you'd just print more or transfer it from one person to another, but how many people in a population need to work. Just how many folks can a worker support going forward?
Last edited by Corerius; 05-26-2017 at 08:02 PM..
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