HAHAHAHA. Yeaaaaah. My mom turns 75 this year. She’s held 4 jobs since “retiring” (two of them simultaneously). The economic meltdown of 08/09 erased ALL of her retirement funds. She’s what they call “working poor” right now.
She will never have the chance to retire. When her body finally gives out (and she’s come close in the last year) she will end up in a state facility and have to relinquish all of her possessions just to be accepted. No one with more than $2000 in assets is given assistance, where she lives.
But please, do tell me about the “vast majority”.