Over the next two decades, nearly 10,000 Americans will reach retirement age every single day. They deserve to live their golden years in dignity. Instead, many will experience a dramatic drops in their standards of living. Because of a looming crisis of inadequate retirement savings, America risks facing rates of poverty among senior citizens not seen since the Great Depression – and the strain of this newly poor population will devastate federal, state, and local budgets for decades to come.
In his new book with co-author Teresa Ghilarducci, Rescuing Retirement, Blackstone’s Tony James proposes a bi-partisan and surprisingly simple solution to this problem. It’s built on personal responsibility, facilitates personal savings, and guarantees that all full-time workers can be secure in their retirement. Listen to Tony James discuss his plan to fix the looming retirement savings crisis on the latest episode of the Blackstone podcast to learn more.