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Boston College Expert Authors New Book On Looming Retirement Crisis15:48
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Just 30 years ago, most American workers were able to stop working in their early sixties and enjoy a long and comfortable retirement. But that brief golden age of retirement is now over.

That's the way Alicia Munnell begins her latest book — a book she describes as similar Paul Revere's famous ride in 1775: she hopes it will raise the alarm.

What's changed is obvious: people are living longer. Social Security is replacing less pre-retirement income, and defined pension plans have been replaced by 401(k)s with modest balances. But Munnell says the scope of the problem is vast: soon, millions of Americans will realize that they're too old to work, haven't saved enough not to and have few people to turn to for help.

Guest

Alicia Munnell, director of the Center for Retirement Research at Boston College and the co-author of a new book, "Falling Short: The Coming Retirement Crisis and What yo Do About It."

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The Boston Globe: A Warning On Realities Of Work, Retirement

  • "Alicia Munnell has never been one to sugarcoat her opinions. As a top economist at the Federal Reserve Bank of Boston in 1991, she shook up the New England banking industry by documenting discriminatory lending practices."

This segment aired on December 9, 2014.

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