An Example of Our Inability to Plan for the Long-Term

Two articles about retirement appeared in my feed on the same day last week. ?They highlighted one major challenge we face: too many people fail to adopt a long-term planning strategy.

The article from the New York Fed reports that fewer than half of all Americans plan to work past age 62.

The Visual Capitalist reports that the median retirement savings for people aged 55 to 64 is only $185,000.

The reality is that people want to retire but do not prepare for it.? For many people in their 20s and 30s, retirement feels so far away that they defer planning until later.? When they do start, it is too late.

Related Articles

The Post?Pandemic Shift in Retirement Expectations in the U.S. (Federal Reserve Bank of New York)

Visualizing America’s Average Retirement Savings, by Age (Visual Capitalist)

10 reasons we must urgently get over our retirement crisis denial? (The Hill)

You only live once: How the pandemic helped fuel early retirements (Axios)

Fact or Fiction: Congress Stole From Social Security (Yahoo! Finance)