Retirement Is Dead

I've never understood the logic behind the idea of a "nest egg". Years ago, perhaps, it might not have been clear to the average person that money has to grow over time to stave off inflation, but that information has been widely available for decades and many people still don't put money into any kind of investment.

Not judging anyone. Circumstances are different for each and every person, and financial literacy isn't universal. But I am genuinely curious as to how such a large number of people that have/had careers that paid ok end up paycheck to paycheck when retirement comes around.

Man, I though MacLean's was dead. I haven't see one of those in 25 years. But from the article:

Forty per cent of us in this age range have less than $5,000 in savings.

That's Canadians, aged 55-64. I expect younger generations will be no different. It's an awful lot of people, given the age demographic in the country.