Huge Number of Americans Have No Savings

If you ask most Americans when they think they will retire they will tell you, "60 to 65."

If you ask them how much planning and savings they have put into that goal, many will say, "Not much."

More Than a Third of Americans Have a Goose Egg for a Nest Egg

For many Americans, their nest egg is just a shell: 36 percent have no retirement savings, new research from Bankrate finds. The problem is particularly acute for adults under the age of 30. Nearly 70 percent don’t have any money saved towards retirement, although this age bracket feels the most financially secure. “They also feel more secure in their jobs and more optimistic about their current financial situation than any age group,” Bankrate said.

While the minority of people who are saving are getting an earlier start, a significant percentage have lost valuable time for saving: A third of 30- to 49-year-olds have no retirement savings, along with more than a quarter of 50- to 64-year-olds. Two factors that increase the likelihood someone is saving for retirement are a college degree and a full-time job.

Here;  http://www.nbcnews.com/business/retirement/more-third-americans-have-goose-egg-nest-egg-n183271

So who do you suppose is going to pay for MILLIONS of people who have nothing in savings when they are 65, 75, 85, 95 years old?  Who is going to pay $8,000 per month for millions of elderly to go into nursing homes?  Who is going to pay millions of senior-apartments?  Who is going to fund the millions of folks who can't afford groceries?

"Umm...Dennis...the government will have to pay for those people who haven't saved."

Ummm....the government doesn't have any money.

"Ummm...Dennis...the government will then have to print the money or take it from the people who HAVE saved it!"

Hmmmm.....I wonder how long that will work?

Clearly, even a person of average intelligence (such as myself) can discern that BIG PROBLEMS are on the horizon for the American Dream.