Obviously the solution is to not depend on pensions (which I don't think most young Americans are planning on anyways). It's awfully hard to lose your own savin

Obviously the solution is to not depend on pensions (which I don't think most young Americans are planning on anyways). It's awfully hard to lose your own savings though. Basically, "everyone" is hyperbole. Obviously many people can retire fine, if you live within your means and consistently save.