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Why do we have a retirement crisis? How much do American's have saved for retirement? What are the solutions to solve this big problem? I discussed all these questions and provided insight on why the problems are prevalent within the economy. 

Almost half of American's don't have anything saved for retirement. Most working age households are at risk and some working professionals don't contribute to their retirement plan at all. Which in result creates a need for depending on government sponsored plans such as Social Security, Medicaid, Food Stamps. 

I mention how people have to take more control into their own hands because these programs are not intended to be your only source of income. Rather, it's utilize as a supplement. Another issue contributing to the retirement crisis is the underfunding of pensions. 

Many pensions across the world have been underfunded due to market uncertainty and companies not being able to fulfill their commitments. Bonds make up a substantial amount in most state pension plans and with interest rate hikes throughout 2022, those don't look ideal has a suitable return of investment.

Overall, there are solutions being fulfilled to help encourage more people in America to invest for the long term. The House of Representatives passed the Strong Retirement Act which will automatically enroll employees into their employer's retirement plan. Fidelity also has come out and mentioned that they will give clients the option to invest in Bitcoin with their 401K's. 

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