Most millennials and Gen Xers have little idea of what’s going to happen when their parents hit retirement age. That’s about to become an increasingly real problem, particularly for those with parents in the middle-income stratum.
A retirement affordability crisis is escalating in the U.S. Three out of four middle-income older Americans won’t have enough to pay for assisted living services without selling their homes within a decade, according to data analyzed by NORC at the University of Chicago, supported by a grant from The SCAN Foundation.
