Q. You speak of a retirement crisis. What are the main features of a retirement crisis? To what extent do you think a crisis is due to local conditions as opposed to global factors? A. Americans today are navigating a broken retirement system: nearly 40 per cent of Americans have no retirement plans at all and the average savings for someone between 40 and 50 years old is less than $20,000. If they’re going to have a middle-class lifestyle, they need at least US$300,000. The result is that one third of the people turning 65 will be in or near...