How the U.S. can avoid a future where millions of retired Americans can’t meet their basic needs MarketWatch 1/30/2021 OUTSIDE THE BOX President Joe Biden faces many challenges, from the coronavirus pandemic to high unemployment to widespread social unrest. He’s also facing resistance from Congress and a politically polarized nation. Where Biden’s efforts enjoy bipartisan support is solving the retirement savings crisis. Despite deep divides, Americans are united in their worries about their financial security as they age. Three-fourths of Americans say the nation faces a retirement crisis, including 80% of Democrats and 75% of Republicans and Independents. The burden of preparing for retirement is increasingly difficult for middle-class workers. Housing, healthcare and long-term care costs are increasing faster than wages and salaries, while the shift from pensions to 401(k) plans has pushed more retirement risk onto employees.