The Money with Katie Show How This "Financial Ethicist" Plans for the Future of Retirement
Jul 16, 2025
Jonathan Grimm, a financial advisor and author of The Future Poor, discusses the shortcomings of traditional retirement planning. He argues for a shift from mere cash accumulation to a more nuanced understanding based on social determinants of health. Grimm highlights the financial struggles of younger generations, emphasizing community support over individualism. The conversation critiques outdated retirement models, advocating for meaningful engagement in work post-retirement to enhance well-being. He calls for ethical considerations in finance to address systemic issues contributing to retirement poverty.
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Income Limits Retirement Savings
- Most with income under $150K face economic vulnerability affecting retirement savings.
- Saving $30,000 per year per person is often unfeasible with flat wages and limited margins.
Retirement Savings Are Insufficient
- Poverty-level retirement savings equate to about $511,000 or $20,000/year income.
- Only top 20% in age group 51-64 have more than $100,000 saved, signaling widespread financial insecurity.
Financial Outcomes and Context
- People's financial challenges are mostly due to factors outside individual control.
- Both systemic context and personal responsibility matters for financial well-being.
