When we think of retirement in America, most of us imagine some version of peace: slowing down, enjoying our families, maybe traveling a little. But for many older Americansāespecially those without reliable pensions or significant savingsāretirement feels more like a moving target. In When Iām Sixty-Four, economist Teresa Ghilarducci dives deep into how we got hereāand what we can do about it.
This is not a typical retirement guide. Itās not about 401(k) strategies or budgeting hacks. Instead, Ghilarducci tackles the systemic forces that have eroded retirement security for millions. She focuses on how pension systems were gutted, how public policy failed workers, and how individuals are now being asked to shoulder the entire burden of retirement without the resources or tools to do so.
Itās part history, part economics, and part call to action.
Why This Book Matters
If you’re over 60 and wondering why retirement feels so out of reachāeven if you worked hard your whole lifeāthis book helps explain why. Ghilarducciās message is clear: this isnāt just your fault. The retirement crisis is the result of decades of policy shifts, corporate decisions, and economic inequality.
But itās not all doom and gloom. The book also presents a path forward, grounded in bold but practical policy proposals like Guaranteed Retirement Accounts (GRAs). Ghilarducci believes Americans deserve more than hopeāthey deserve a system that supports dignity in aging.
š” What Youāll Discover:
š How U.S. retirement shifted from pensions to private savingsāand why it failed
š ļø The difference between retirement plans (like 401(k)s) and retirement systems
š·āāļø How working-class and minority workers were disproportionately affected
š¬ Real stories of older Americans navigating retirement with shrinking resources
š§© A clear explanation of Guaranteed Retirement Accounts and how they could work
Who This Book Is For
Older adults frustrated by the loss of pensions or lack of retirement security
Readers who want to understand the policy and economics behind the retirement crisis
Advocates, policymakers, and thinkers looking for big-picture solutions
Individuals interested in justice-based, system-wide reformānot just personal finance
Why It Stands Out
Unlike traditional retirement books that focus solely on personal responsibility, When Iām Sixty-Four zooms out. It looks at how retirement insecurity was manufactured through shifts in labor markets, the decline of unions, Wall Street interests, and changes in Social Security funding.
Ghilarducci is a policy expert, but her writing is accessible. She makes complex economic concepts understandable, and she does it with empathy. Her style is direct, urgent, and hopeful.
What makes this book truly impactful is how it validates the experiences of readers who feel like theyāve done everything rightābut still came up short. It says: Youāre not imagining things, and youāre not alone.
Notable Quotes
āWeāre sold the idea of financial freedom while being left to fend for ourselves.ā
āPeople are working longer not because they want toābut because they have to. Thatās not freedom. Thatās failure.ā
Final Thoughts
When Iām Sixty-Four is not just a bookāitās a wake-up call. It acknowledges the systemic failures that led to Americaās retirement crisis and outlines realistic, structural solutions. Teresa Ghilarducci doesnāt just speak to economists or lawmakersāshe speaks directly to you, the reader navigating aging, work, and uncertainty.
If you’re over 60, this book won’t tell you how to save more in five years. Instead, itāll help you understand why retirement feels harder than it used toāand what needs to change for you and future generations to age with dignity.
