Winging it through retirement: 30 percent of Americans have no retirement savings.

Greetings,

Winging it through retirement: 30 percent of Americans have no retirement savings.

Posted by mybudget360

Planning for retirement does not happen overnight. You need to diligently plan and sock away savings like a squirrel stocking up for the season. Many Americans have no retirement savings and more troubling, many near retirement face a compressed timeline where they will need to save or face a massive decline in living standards in their later year. Retirement has become a sort of idealized vision of doing nothing.

Many think that once retirement hits, all expenses will go away and that they will have unlimited funds to purchase Margaritas and spend time at a beach with crystal blue water in some part of the Mediterranean. Instead many will be working deep into older age and will be fighting off the cold because the heating bill is eating into their Social Security check.

Many Americans are fully unprepared for retirement and despite the massive surge in the stock market since the Great Recession ended, many Americans are looking at retirement and are planning to wing it.
Winging retirement
There is a deep cognitive dissonance in our culture. We are obsessed with planning yet people fail to prepare. We have an obsession with eating right and staying healthy but are one of the fattest nations on the planet.

This kind of split mentality helps to explain why in a country with so many retirement plans and options, most people are inadequately prepared for retirement.
Take a look at how poorly prepared Americans are for retirement:…….MORE HERE

Social

Winging it through retirement: 30 percent of Americans have no retirement savings.