Saving for anything is hard. It takes discipline, and hard work in order to make enough to put money away. Saving for retirement is the same. While it is recommended to have at least 10% of each check put away for retirement, it is not being done.
There are Americans currently who do not have a dime in their savings and others who don’t own a savings account at all.
There is no U.S data on retirement
Although retirement is a very important thing to think about, it is not being researched enough. Currently, the future generations and our own have nothing to look at in terms of data on retirement savings.
When researching you may find data that range constantly. Some websites may tell you to put away 10% each paycheck. Other analysts recommend you to wait to save for retirement.
When searching for information this quote was found and said by David John, an expert working at the AARP Public Policy Institute, “We have some information but we know that information is less than perfect.”
Even though it is not something you should be solely focused on, it is concerning that the information we currently have is the bare minimum.
The surveys and studies conducted don’t take into account everyone
The information that is published and used may not be the most accurate. Information and data found on financial firm websites are often published for their own clients with only their client’s information. This flux of people plays a roll in why information found in reports published nearly every week, have varying numbers and results.
Why Saving is Hard?
The people and companies we refer to as experts can only publish guidelines and helpful hints with information that is barely out there. With our current lack of knowledge on retirement savings, it is no surprise just how bad we are at saving.