Article: "EXPLAINED: The nation's retirement savings crisis, in two charts"

[NumberCruncher]

http://www.washingtonpost.com/blogs/wonkblog/wp/2014/02/26/explained-the-nations-retirement-savings-crisis-in-two-charts/

<3 the wonkblog. A big part of this is talking about "gold-plated pensions" vs no work-sponsored retirement savings plan - just thought I'd share if anyone was interested.

[LalsConstant]

Heh, the pension I pay into replaces 50% of an average of your five best years of salary and hasn't had a COLA since 1994.

I am as always in the wrong business.

[frugalecon]

One problem I have with the article is the statement that "workers cannot afford to save." It always irritates me when people say that. Unless they are earning a subsistence wage, all that means is that they are UNWILLING to save. The way to save is to look at your take home pay every pay period and pay the most important bill first. To your savings.

[lexie2000]

One problem I have with the article is the statement that "workers cannot afford to save." It always irritates me when people say that. Unless they are earning a subsistence wage, all that means is that they are UNWILLING to save. The way to save is to look at your take home pay every pay period and pay the most important bill first. To your savings.

I agree and that's what we always did which allowed for ER.  Back in the 80s, our contemporaries got caught up in auto loans/leases and credit card debt before they even came close to thinking about saving for retirement.  These days, I imagine that student loan debt would make it a lot more difficult to save for retirement.....but not impossible, especially if you're willing to live a mustachian lifestyle. 

[soccerluvof4]

One problem I have with the article is the statement that "workers cannot afford to save." It always irritates me when people say that. Unless they are earning a subsistence wage, all that means is that they are UNWILLING to save. The way to save is to look at your take home pay every pay period and pay the most important bill first. To your savings.

One problem I have with the article is the statement that "workers cannot afford to save." It always irritates me when people say that. Unless they are earning a subsistence wage, all that means is that they are UNWILLING to save. The way to save is to look at your take home pay every pay period and pay the most important bill first. To your savings.

I agree and that's what we always did which allowed for ER.  Back in the 80s, our contemporaries got caught up in auto loans/leases and credit card debt before they even came close to thinking about saving for retirement.  These days, I imagine that student loan debt would make it a lot more difficult to save for retirement.....but not impossible, especially if you're willing to live a mustachian lifestyle.

agreed!