- Wealth alone doesn’t eliminate financial worries in old age. Factors such as pensions, health care, inequality, and cultural attitudes are key in shaping old-age security.
- Financial worry transcends income levels and geographic boundaries. Even in wealthier countries, gaps in social safety nets and financial literacy can contribute to insecurity about old-age finances.
I remember an article WSJ put out in ~2010 about the burdened cost of a Manhattan family who had two 750k salaries by listing out their costs which included a madi, childcare and private school for two kids, two cars (in NYC!), etc. “everyone is scraping by” was the general thrust. So myopic.