“by retirement”

Another thing millennials will broadly never approach. Between systematic under-pay with 2-3% increases in wages, high inflation, exploded housing costs, predatory financial system (credit cards, BNPL), etc. I’d guess 5% of people will actually “retire” in the normal sense of stopping work in their 60s.

Physical and mental health are so affected by the vice in which Americans are crushed, many will not live to see retirement anyway.