https://www.msn.com/en-us/money/investing-50s-and-60s/retiring-rich-is-harder-than-you-might-think/ar-AAstE6YOne gem:
"Median earnings for those with only a high-school education in 2015 were just over $2,500 per month.
Student loan debt amounts to between $30,000 and $35,000 for recent graduates on average. That takes between $300 and $400 per month to repay over a 10-year period.
Average rent for a one-bedroom apartment in U.S. cities ranges from $525 in Cleveland to $1,100 in Austin, $2,000 in Miami, and $3,600 in San Francisco.
Add to that all the other regular living expenses you have, and it can be hard to free up any money at all -- let alone the several hundred dollars per month that a 10% commitment would entail. At certain times of your life, just being able to put anything toward savings is a major victory, and you should celebrate it as such."
First, way to mention that the average high school grad only earns $2500/mo and then jump right into student loan debt... without mentioning that the average college graduate can expect to earn $4000/mo....
The article continues to stress why it's so hard to save, but my favorite is the end:
"Do what you can
Preparing for retirement isn't easy, and no matter how simple a set of rules might seem, following it can be next to impossible. In situations in which you can't reasonably follow an ambitious strategy, see if you can get at least part of the way there. That way, you can get a measure of success, knowing that you've done the best you can and keeping you aware of your financial situation for future use."
Seriously? Saving 10% is "next to impossible" and "an ambitious strategy"??? If getting part of the way to 10% is the best I can do, I would not feel any measure of success. I absolutely hate the Motley Fool...