well said Bucky. It’s a massive problem that is only getting worse. I think a lot of people would be surprised how many younger people don’t have a penny saved for retirement. I think two big things contribute to this; 1) financial illiteracy and 2) crippling student loan debt.
It amazes me how you can graduate high school without having any sort of class or education related to basic finance. It’s a huge hole in current curriculum.
I know people who don’t have a penny saved for retirement and dont think twice about it. But you can bet your bottom dollar that those same guys have a brand new truck every other year, a nice sparkly $50k boat, the nicest house on the block, and every other toy you can think of. They live in financial denial and will kick the ‘save for retirement’ can down the road perpetually.
Once these people start getting to retirement age, they’re going to spend their final years (and eventually die) as walmart door greeters.