re: What is the “retirement crisis” going to look like within 10 years

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This is my biggest fear. Wife and I have scrimped and saved and been dedicated to retirement since day 1 of professional life. Literally no one I know closely is at all prepared for retirement. I'm in my mid 40s and my coworkers 10 years my senior are ill-prepared.

This is going to be a nightmare and I fear for all that we've worked so hard to save.

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Well good thing you've prepared.

You cannot worry about anyone but your family and handle your business.

The separation is happening regardless, I have said this over and over and over.

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Roth IRAs are available to everyone. You should have started one once you realized that your company had no pension or 401K. Not saying you're in this group, but we have millions of Americans that have been living in houses bigger than they needed and driving luxury cars that wi
ll be bitching about how they "can't live on Social Security".

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Start early on your ROTHs, even it its small.

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I think this is just like reforming SS and something that is too much of a potential political disaster to actually even offer up, let alone try to pass.

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I largely agree. But the pause I have is population distribution. The two biggest groups are Baby boomers and the left wing millinieals. The baby boomers want “their money” back at all costs. The millineals think anyone with saving act t over $1,000 is “rich” and thus greedy. Of these two groups get together on selling everyone else’s’ money they have a chance.

The GenX performance this election makes me worry a bit less.

Eliminating 30% of the federal government and drastically curtailing welfare would fix our budget problems.

Welfare should be a helping hand (short term) not a way of life.

One hidden blessing of the Trump win is the 2025 tax cut expiration that was on the books. I think it’s reasonable to expect an extension to 2030 or so.

If that’s the case, people in their 50’s and 60’s can continue to take advantage of the lower rates to do Roth conversions ahead of any tax hike that’s inevitable. If I’m under 50, I’d be inclined to invest in Roth 401k’s/IRA’s for that same reason. Safer to pay tax now and have tax free growth rather than get a tax deduction now under lower rates and get hammered with a higher rate down the line.