Retirement’s a long way off for the 83 million Americans born between 1982 and 2000 (that’s the date range used by the Census Bureau to identify millennials), but the smart ones are already planning. One big worry they have: Despite all they’re paying into Social Security now, most — a whopping 80% — say they don’t expect to get a nickel of it back.
Young and unknowing. What is killing social security is high debt levels in the economy due to boomers never covering the debt they created.
Work that cannot meet the safe rate in terms of productivity growth will not be employed. That is ultimately the millennial problem, high and high productivity needed as we continue to lag in paying back all that boomer debt.
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