"The current institutionally provided retirement plans will not cover people's needs upon retirement"

This quote by Scott Cook suggests that the current retirement plans provided by organizations such as companies and federal governments are not adequate to satisfy the needs of people when they retire. This indicates that individuals need to take extra steps to guarantee that they have enough cash to live comfortably in retirement. This might include conserving more cash, investing in pension, or securing extra insurance plan. It is necessary for people to prepare ahead and take the required actions to guarantee that they have adequate cash to cover their needs in retirement. Without appropriate planning, individuals might find themselves having a hard time economically when they retire.