The Retirement Savings Dilemma: Some Possible Causes

Saving money isn’t easy under any circumstances, and saving for retirement is even more difficult. It seems so far away, and other factors just keep getting in the way. Many folks tend to lean toward excuses that explain why they just can’t build up that nest egg, even though they intuitively know that not saving for those later years will likely be a problem at some point. In fact, this heading from a post on puts this dilemma in perspective for us: “64% of Americans Aren’t Prepared For Retirement — and 48% Don’t Care.”

The Go Banking Rates article reports on a survey indicating that 45.5% of respondents indicate they’ve saved zero (that’s 0) dollars for retirement. As The Motley Fool’s Katie Brockman notes in an article posted on, these non-savers are “going to be in for a rough retirement.” Her article presents three common reasons cited for one’s inability to save, with one of them being an opinion that they just won’t need to have any accumulated wealth to fund their later years. Interesting. Read Ms. Brockman’s post here…

As part of its work on crafting a solution to Social Security’s solvency problem, the Association of Mature American Citizens (AMAC) has focused on the savings issue, and has developed a companion proposal called the Social Security PLUS plan.  The “PLUS” denotes an early retirement account that may be accessed at age 62 or later that is in addition to the Social Security program from which 63 million Americans currently receive benefits. For more information on Social Security Plus, check out our post from earlier this year, and to learn more about AMAC’s efforts to solve Social Security’s solvency dilemma, click here…


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