We’ve been preaching that note for decades – but some folk just don’t seem to get it, and refuse to look after their own savings needs, expecting they will be spending each summer on the Riviera. It just doesn’t work that way.
The Tax Foundation has a good recent report on the matter, which those who don’t believe us may want to scrutinize. Recalling that Social Security benefits alone are simply not adequate to replace retirement income, millions of Americans just save too darned little to support their preretirement living standard when the time comes to stop working. Indeed, many folk have exactly zero retirement savings, in the form of an IRA or other tax-favored retirement plan! Can you believe it?!Read More
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