calculator and pill box on Medicare bill (Photo: Shutterstock)

There was a time when many American workers could anticipate sailing into retirement with profit sharing and investments, pension, Social Security benefits, and Medicare coverage. They felt secure that their golden years would be filled with rest, peace of mind, and few worries about medical bills.

Times have changed. Today, only 15% of private-sector American workers have access to a pension plan. Barely one-fifth of U.S. firms offer a profit-sharing plan. Over the first four months of 2022, the Dow lost more than 10% of its value. The average 401(k) balance for 64-year-olds is $232,000, with the median balance now less than $85,000.

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