President Trump Is Eyeing Australia-Inspired Retirement Accounts. Here's What That Would Mean for You.
Retirement would certainly look different if this change took effect.
Overview
Retirement was once supposed to be a time of relaxation and reward after a long career, but it's increasingly become a time of stress and poverty as seniors manage rising costs on dwindling incomes. There are several reasons for this, including expenses growing faster than wages and Social Security's buying power slowly eroding over time. Many workers also don't have access to a retirement plan through their jobs.
The Trump administration has been exploring ways to help Americans retire more comfortably, and one idea the president floated last month was offering new retirement accounts modeled after Australia's retirement system. Here's what that could look like -- the good and the bad.
Image source: The White House.
Details
Source
Originally published at www.fool.com.
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