
Those saving for retirement today have unique challenges compared with past generations. Many companies offered pension plans that rewarded a lifetime of work with guaranteed income for their retirement years. And if you weren't lucky enough to receive a pension, at least there was Social Security. Many retirees received both a pension and Social Security.
The world is a different place today, at least for those who are not yet retired. Pensions for most private sector employees have been all but phased out over the past few decades. And Social Security's long-term funding is a topic of ongoing policy debate. Some projections suggest that without legislative changes, the program could face pressure to reduce benefits in the coming decades - though the ti...