Some experts say we have what amounts to a “retirement funding crisis” here in the United States. That, given longer lifespans, many retirees aren’t able to get by on savings and Social Security alone.
Well, seniors in Japan are also struggling, and in many cases the situation is much worse.
As of March, people 65 or older now account for more than half of all households living on welfare.
The situation is the result of several pieces of bad news, which economist Matthew Goodman at the Center for Strategic and International Studies describes as the “three Ds.”