ChatGPT thinks, that in the US social security makes up about 30-40% of the retirement income of a typical American, while the German system makes up about 80-85% of a retired German. Home ownership rate in Germany is also way lower.
Germany is an outlier in that there is no capital backing for that generation whatsover. The problem has been known for 30 years, they just chose to ignore it.
Germany is an outlier in that there is no capital backing for that generation whatsover. The problem has been known for 30 years, they just chose to ignore it.