Retirement Challenges Faced by Many Americans

Despite the traditional idea of retirement planning with a three-legged stool - social security, workplace retirement plan, and private wealth, many Americans find themselves unprepared financially. The bottom 90% of the population often did not receive wage increases, lacked employer-provided retirement plans, and faced challenges in building retirement savings due to market fluctuations. The fallacy of working longer as a solution is debunked, as early social security claims, low retirement savings, and reduced job opportunities in later years leave many retirees financially strained.