Money Talks: The United States is Doing Retirement Wrong
Slate Money
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Flaws in American Retirement System
The chapter explores the shortcomings of the American retirement system, focusing on the inadequacies of the 401k plan and the challenges individuals face in saving for retirement. It contrasts the flaws of personal pension plans like 401ks with the benefits of collective plans, emphasizing the advantages of a shared pension system. The discussion also delves into the impact of the decline of defined benefit plans and the rise of individual accounts in the US retirement landscape.
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