This podcast explores the troubling decline of traditional retirement benefits in the United States. Attorney Walter Hnot examines this trend through key historical events, including the 1983 Social Security amendments, shifts in military retirement systems, and the bankruptcy of Yellow Corporation, showcasing how pensions are becoming less viable for companies. He anticipates a future where retirement benefits will be more closely linked to disability rather than age, leading to a decreased focus on traditional pensions and savings. This change highlights the urgent need for alternative retirement planning and underscores the widening gap between the wealthy and the poor. The discussion wraps up with a strong appeal for a new retirement system to tackle the challenges posed by automation and economic inequality.
