Save early, save late, save for retirement for Pete’s sake. 😡

2014

If you don’t like Obamacare, wait until a future administration and Congress forces you to save for retirement. Outrageous right?

Well given the current state of retirement savings or lack thereof, the disappearance of employer-based pensions and the large degree of indifference toward the future, that’s where we are headed. Either that or a Social Security system that taxes sufficiently to provide a good pension to everyone, regardless of personal savings (or perhaps we pass a law mandating employer plans and employer contributions).

Don’t like that scenario? Give me an alternative!

Right about now conservatives are yelling about individual responsibility, government intervention and individual choice and progressives are like, yippee❗️a universal pension system.

There are any number of tax-advantaged retirement vehicles out there, all under utilized. We’ve made employer-based plans fully portable so that’s not the problem. What is the problem then? Human nature!

Using any number of excuses, rationalizations or simply ignorance, Americans aren’t saving or planning for the future. Employers for their part are equally short-sighted by not providing a portion of current compensation in the form of guaranteed retirement savings in some form.

The message is pretty clear, save early even if you must suspend savings later, but the most important message is save, save, save.

So how do you overcome human nature? You go around it.

From Business Insider Australia.