In a 2013 study the Organization for Economic Cooperation and Development compared the incomes of a country’s retirees with the average income in that country. The results are surprising. Despite a supposedly stingy Social Security program and ineffective retirement-savings vehicles, the average U.S. retiree has an income equal to 92% of the average American income, handily outpacing the Scandinavian countries 81%, Germany 85%, Belgium 77% and many others.
In dollar terms, America’s retirement incomes are 53% above the OECD average, second highest in the world. If there’s a crisis in the U.S., the rest of the developed world must be a virtual retirement hellhole. No one truly believes that.