This is a guest blog post by Philip Anderson, AFT-WI Retiree Chapter Member.
Being able to retire with some dignity and financial independence was once part of the American Dream. But for many people a secure retirement is slipping out of reach. Many experts claim we are facing a retirement crisis.
The Internet is full of grim statistics.
Only 42% of private sector workers age 25 to 64 have any pension coverage in their current job.
Only half of American workers have access to a 401(k) plan, and only about 30% take advantage of that plan
75% of 401(k)s have an average balance of $60,000. The median account balance is less than $20,000.