Many americans today do not expect to be retiring any time soon. Due to the 2008 recession, many of the baby boomer generation lost a large majority of the money they saved. We are still trying to recover.
It's interesting to note how many people find paying their bills, one of their daily concerns. 59% according to USA Today article by Rodney Brooks. The cause for this problem? Our inability to save.
Statistically, Americans are shown to be extremely efficient bill payers, however, not so much for saving. Why is that? Isn't that one of the basic lessons we are subliminally taught as a child? In fact, life lessons should teach us we need to save and spend. The balance of both actions is essential to live a comfortably. Why are we not able to do this? The poor attitude of "it's impossible" certainly does not help.
USA Today Retirement
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