Half the people in this country face the strong possibility of ending their days in poverty instead of in a comfortable retirement. Sound shocking? It is—and now think of what that might mean for the broader economy of the country itself. If half its citizens end up living in poverty, what does that mean for the country itself? After all, impoverished people don't pay taxes—they can't even pay their own living expenses. For businesses? Again, impoverished people don't spend money they don't have. For municipalities? Towns and cities that can't finance their infrastructures through taxes and the flow of cash through businesses will collapse if they don't come up with other ways to keep residents solvent and the economy flowing. Considering this potential future—what the Aspen Institute Financial Security Program has termed "a retirement crisis in the U.S. … that has dire consequences not only for households, but for businesses, our economy, and the social fabric of the country … despite a decade of economic growth"—was the motivating factor behind the Aspen Institute's third annual Leadership Forum on Retirement Savings. The gathering of retirement experts and industry leaders voiced their concerns, as well as proposing potential solutions to various aspects of the problem. In its report on the forum, the Aspen Institute has outlined five "main solution areas" at a "very high level" that attendees advocated. Considering the magnitude of the problem—10,000 boomers turn 65 each day, and a fifth of older Americans are already working past retirement age, many out of necessity—it will likely take a multiplicity of responses to come up with an adequate solution. The gallery shows five steps the report feels have the most potential to address the crisis. READ MORE:

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