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Retirement Security

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Submitted By soloshem
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Retirement security
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Income Inequality: A Hindrance to Retirement Security
Holland, K. (2015). On retirement security, US rank far behind others. CNBC. Retrieved 8 November 2015, from http://www.cnbc.com/2015/02/09/
In this article, the author suggests that America lags behind 18 other countries in retirement security because of the high-income inequality observed in many states in America. The author suggests that according to the recent study, the United States offers little support for retirement security services unlike other developed countries. The author quotes Sweden, Denmark, and Switzerland as among countries that have good retirement security systems. Many characteristics define these economies. First, most of the nations that score higher than the United States in retirement security have high tax burdens. However, these countries have a narrow income inequality. In addition, most countries are also improving on the gap between the poor and the rich. The universal healthcare schemes provided by these countries have also contributed to the good ratings of the most countries that have better retirement schemes than the United States (Holland, 2015).
The author has focused on highlighting the importance of retirement security as a key pillar in economic developments. The author clearly states that the United States social security problem lies with the expanding income inequality. The author states that in order to have a good retirement scheme, a country must have a strong and growing industrialized economy with a strong financial system. Furthermore, a country must have broad access to healthcare facilities and other social services that are significant to personal development. Good health and quality healthcare services are a significant factor for a comfortable life. People must have a pool of...

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