From Dow Jones & Company:

The U.S. is set to experience a peak number of 65th birthdays in 2022 and faces a growing number of retirement challenges, with over 4.1 million Americans expected to retire this year and a continuing trend through 2027. Many of these soon-to-be retirees are not financially prepared for retirement, with half of women between 55 and 66 having no retirement savings, and many employers moving away from pension plans to less secure options like the 401(k) plan. Inadequate funds for retirement will place pressure on housing, healthcare, and Social Security, and could negatively impact younger generations. To combat these issues, a shift in perspective towards longer lives is needed, along with increased contributions to retirement plans and a renewed emphasis on productivity and engagement in later years.



Read more: More than 4 million people are turning 65 this year — and it will affect you