completely false that 60-70% of americans live paycheck to paycheck. you cannot take self-reported survey data like that seriously, the median net worth in the US is something like $200k - there are plenty of people with hundreds of thousands of dollars in the bank claiming to live paycheck to paycheck here.
given that we are already seeing serious strain for some european pension systems, i don’t think this is a very strong comparison
As the other comment mentioned, remove 401k from the equation and it's much more dire. I don't include my Swedish tjänstepension when calculating my net worth even though it's quite similar to a 401k.
given that we are already seeing serious strain for some european pension systems, i don’t think this is a very strong comparison