Get Off The Dependency Train (Podcast)

by: SA For FAs

Summary

The ratio of working-age population to the level of retirees continues to shrink and is on track to reach just two workers for every retiree by 2050.

Like oil economies that can't wean themselves from the volatile commodity, or consumers who buy gas guzzlers when oil is cheap, it's hard to break free of economic dependency .

Dependence on a small working population puts education, health and retiree benefits at risk. Private savings could overcome this, but U.S. pre-retirees are vastly underfunded.

As individuals, we can get off this train by husbanding our resources toward financial independence.

The ratio of working-age population to the level of retirees continues to shrink and is on track to reach just two workers for every retiree by 2050. Just like oil economies that can't wean themselves away from the volatile commodity, or consumers who buy gas guzzlers when oil is cheap, the prison of economic dependency is hard to break away from. In this short podcast (2:59), we examine the toll of economic dependence, societally and individually: