Looming Retirement Crisis: U.S. Unprepared for $1.3 Trillion Shortfall as Population Ages

America faces a $1.3 trillion retirement crisis by 2040 due to demographic changes like aging population.

U.S. ranks 22nd out of 47 countries for its retirement system according to a global index.

Only 1/3 of U.S. workforce believes their retirement savings are on track.

There is a shift from defined benefit to defined contribution plans, putting more risk on individuals.

Around 60 million private employees lack employer-sponsored retirement plans, so state-run plans are gaining support.