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When the Social Security program came into force in 1935 the official retirement age in the USA was 65, yet the average life expectancy was 61*. Nowadays, average life-expectancy is around 76 years** and can be much higher among educated, healthy-living individuals, especially women.

Increased life expectancy creates a need for greater retirement assets in order to ensure sufficient income during retirement and one consequence of this is the advent of later-life careers while another is the increased imperative to plan early and to ensure a diverse portfolio of assets.

Things are not getting any easier for younger retirement savers. It is predicted that by 2060, the number of Americans who are 65 or older will have risen from 46 million today to more than 98 million – with this demographic accounting for 24 percent of the population (up from 15 percent today).*

Add to the mix the fact that college fees are at record high levels, entry-level wages are low and housing costs are high and a picture quickly establishes of increased financial pressure on a whole generation of retirement savers. In fact, for many aged 18 to 34, simply being a retirement saver may seem like a distant dream as, according to a report by Merrill Lynch and Age Wave, this demographic owes an average of $3,700 in credit card debt.**