That is like a perfect hypothetical, of all three types of retirement savings, and median income retirement. As the article points out, most people don't have a pension in the U.S. anymore, only a small percent have an IRA, and the medium 401k for people over 65 was only around $58,000 U.S. in total balance.
So, as you add in an aging population, reduce tax revenues, increasing health costs, etc, etc, in 10 years what is the average income in the United States look like?
That is whole lot of people dancing around even the B.S. politically defined poverty line they use in the U.S.
To compare some sort of apples and apples, that even hypothetical number, would be around 20,400,000 (30,000 x 680 pesos) a year.
It does not take much for Chile to catch that.
Many of the other western developed countries are not in much better off economic and demographic shape. Chile might simply need to hold the economic line over the next 10 years, because that line is coming down to Chile's level fast. If it keeps up the rate of gains it has had for the last 20 years, it will easily surpass many "developed" economies on a per person basis in short order.
I seen hedge fund manager Mark Mobius describe the U.K. as behaving like an emerging market the other day, both in political, social, and economic terms.
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