It's A Wobbly Stool

The three-legged stool of retirement used to be

• pensions
• social security
• savings

Cracks in the Nest

I recently viewed the very excellent and also terrifying documentary Broken Eggs: The Looming Retirement Crisis in America, and I'd like every student of mine to watch it. (It's summer! You have time!)

It peels back the layers of our retirement system to expose it in its current state and what it's likely to look like in the future.

And, it's grim.

The harsh truth is that we live longer, we save less, and we are relying on systems that weren't built to carry the load it will soon bear.

- One couple realizes their savings won't sustain them
- A teacher expects to work well into her seventies
- A millennial shrugs the crisis off entirely

I hate to say it, but the crisis isn't coming. It's already here.

The Three-Legged Stool Is Wobbling

Once upon a time, retirement in America rested on a sturdy three-legged stool:

1. Employer pensions
2. Social Security benefits
3. Personal savings

For earlier generations, that stool offered balance and security. Retire at 65. Travel. Golf. Read. An abundance of gum for the grandkids.

The reality?

- Pensions have largely vanished for private sector workers.
- Social Security's future is uncertain.
- That leaves personal savings—which, for a huge chunk of the population, simply aren't enough. 

WE MUST. ACT. BOLDLY.

- Start early. Time is your greatest asset. Even small amounts invested consistently in your 20s and 30s can compound into life-changing wealth.
- Educate yourself. Know the difference between a Roth and a traditional IRA. Learn how a 401(k) works. Understand market basics so you're not afraid to invest.
- Automate your savings. Make investing a habit, not a decision you have to make each month. Pay yourself first!
- Diversify your income. Side hustles, rental income, dividends—don't rely on a single stream to float your future.
- Be louder. Push for financial education in schools and workplaces. Vote for policies that protect long term security, not just short term gains.

Watch it here:

Broken Eggs: The Looming Retirement Crisis in America