Are You Prepared for the Retirement Crisis? – Tom Wheelwright & Teresa Ghilarducci

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Join Tom Wheelwright as he discovers the current state of our retirement crisis with economist expert and author, Teresa Ghilarducci.

As a labor economist, Teresa Ghilarducci has spent her career working to ensure retirement security for all American workers. At The New School for Social Research, she directs the Schwartz Center for Economic Policy Analysis (SCEPA), which focuses on economic policy research and outreach. Ghilarducci frequently testifies before the U.S. Congress and serves as a media source to popular and online news outlets about pensions, labor economics, and older workers. Ghilarducci frequently publishes in economics journals and edited volumes and has authored several books.

In this episode, learn about Teresa's Gray New Deal, how to prepare for our retirement, and what entreprenuers can do to improve the lives of their employees.

Order Tom’s book, “The Win-Win Wealth Strategy: 7 Investments the Government Will Pay You to Make” at:

00:00 – Introduction
07:35 – The Third Age: Why retirement?
14:25 – Root of our broken system.
18:52 – Evolution of 401k system.
24:23 – What is the better option?
30:22 – Teresa's Gray New Deal.
33:58 – Prioritizing solutions for our elders.
37:00 – How to retire with enough money.
44:30 – Improving the lives of our employees.

Tom Wheelwright, #CPA is a Best-Selling Author, Entrepreneur & Worldwide Authority on Tax.

Tom’s Book: Tax-Free Wealth
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Looking for more on Teresa Ghilarducci?

Books: "Work, Retire, Repeat" ; "Rescuing Retirement" ; "How to Retire With Enough Money and How to Know What Enough Is"
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DISCLAIMER: WealthAbility® does not provide tax, legal or accounting advice. The materials provided have been prepared for informational purposes only, and are not intended to provide tax, legal or accounting advice. The materials may or may not reflect the most current legislative or regulatory requirements or the requirements of specific industries or of states. These materials are not tax advice and are not intended or written to be used, and cannot be used, for purposes of avoiding tax penalties that may be imposed on any taxpayer. Readers should consult their own tax, legal and accounting advisors before applying the laws to their particular situations or engaging in any transaction.


Disclaimer: The information provided in this video is for educational and informational purposes only. It should not be considered as financial advice or a recommendation to buy or sell any financial instrument or engage in any financial activity.

The content presented here is based on the speaker's personal opinions and research, which may not always be accurate or up-to-date. Financial markets and investments carry inherent risks, and individuals should conduct their own research and seek professional advice before making any financial decisions.

Cameron Long

  • @joshuasharell says:

    It is very hard to see project which can be used in real life like AMS120X 🥳🥳🥳

  • @lindaariel95 says:

    Can anyone explain AMS120X?

  • @tietoya says:

    What do you think sets AMS120X apart from other projects? It seems to be dominating discussions lately

  • @alynho54 says:

    It is funny that not everyone knows about AMS120X

  • @countrysister700 says:

    Excellent content. I’m a Boomer that never understood completely why the qualified defined benefit plan disappeared. I understand guaranteeing the replacement of a lg % the retiree’s income with just a SS offset was expensive and risky. But why not ladder or encourage stacking benefits with say the eligibility for the DB plan at xx years of service as a carrot or reward for longer service. Also formula % could much lower say 25% to still encourage Ee savings, IRA, etc.

    With the 401(k) Congress simply moved responsibility and liability for retirement from the employer (their campaign supporters) to the employees (nobodies that “just” pay taxes) with no concern for ensuring retirement savings is even occurred.

    My dad was a lump sum payout DB millionaire. His prematurely widowed daughter is pretty much broke.

    Repealing the (Un)Affordable Care Act would be a blessing with a return to major medical coverage that makes costs transparent and care responsive to the employee patient.

  • @A_Changed_Heart_Ministries says:

    Awesome and much needed content, thank you

  • @angieharris8015 says:

    Stop hating on us government employees lol.Btw, I will get a pension from my former employer (Kaiser) and they are a PRIVATE-sector employer.

  • @jeffsurfanderson says:

    I disagree with increasing the payroll tax eventually it goes down to the consumer in higher prices

  • @clinicalconsultingcenters3240 says:

    Teresa, I certainly agree with your Eriksonian take regarding the last stage of self satisfaction versus despair. Our society enables individual despair. I think Tom is totally disconnected with harsh reality regarding the majority of people.

  • @clinicalconsultingcenters3240 says:

    It’s true that social security was meant as a supplement. However, during that time the concept of family existed. Our society took a detour underlined by induced social norms where the families disintegrated, and many types of community divisions. This is why the individual depends on social security. The divisions were benefiting government and the 1% and no one else. People depend on social security.

  • @user-lu4cc8lp5v says:

    Hi Tom you are an inspiration to me my name is Roman from Miami

  • @Jay-vv8mq says:

    women food stamps entitlements 🤔🤔

  • @josemanuelmacias7968 says:

    Money is not meant to control people rather it is meant to be put to work producing more money for you. You cannot build wealth without putting money in its rightful place…

    • @codecreateurroku6764 says:

      People don’t understand that the prices of things are never going back down. This inflation is deeper than we think. Those buying groceries are well aware that the real inflation is much over 10%. The increments don’t match our income, yet certain investors still earn over $365,000 in stocks and assets. Wish I could accomplish that.

    • @mikeyreacts5839 says:

      Very possible! especially at this moment. Profits can be made in many different ways, but such intricate transactions should only be handled by seasoned market professionals.

    • @mihaiduta4236 says:

      Having an investment advisor is the best way to go about the stock market right now. I was going solo, but it wasn’t working. I’ve been in touch with an advisor for a while now, and just last year, I made over 80% capital growth minus dividends.

    • @RalphBischoff says:

      Finding yourself a good broker is as same as finding a good wife, which you go less stress, you get just enough with so much little effort at things

    • @scrumpy615 says:

      I’m surprised that you just mentioned and recommend Mr Jeff Clark. I met him at a conference in 2018 and we have been working together ever since.

  • @Excellionw says:

    Excellent comments and, I agree with you 100 percent. Forget about everybody else, the only thing that really counts is, what you decide to do financially for yourself and your family. Also, wealth even as a certain dollar value in your investment, retirement, and bank accounts is very subjective. Prefer to use the term financially comfortable which, for myself is as follows: I would buy Bitcoin and buy hard assets like gold /silver as a store of value while also actively trading…..managed to grow a nest egg of around 100k to a decent 432k in the space of a few months… I’m especially grateful to Francine Duguay, whose deep expertise and traditional trading acumen have been invaluable in this challenging, ever-evolving financial landscape.

  • @craigbouwers6051 says:

    Thanks for the financial information Tom Wheelwright and Rich Dad Team.

  • @bartz4439 says:

    Did i hear well? She said about tacing rich like musk??? I might be wrong tho

    Id never suspec to that to hear on kiyosaki channel!

    Avoid tax! Always

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