> “The big problem in the U.S. is that half of the working population in the private sector has no retirement plan available at work — and people do not save on

> “The big problem in the U.S. is that half of the working population in the private sector has no retirement plan available at work — and people do not save on their own,” Munnell said. I'd love to see an article about retirement savings actually go into why people don't save for retirement. It is almost always brushed aside as a one liner, blamed on inequality, bad luck, etc. But there are real reasons, some reasonable, some less reasonable. Unexpected medical costs can bankrupt someone in days (this is why we believe everyone should have insurance). School and raising children is expensive. On the other hand, Americans seem to be chasing the dreams of materialism in ways I don't think we realize. Ridiculously large houses, new cars (peak auto anyone?), eating out, and of course who can forget avocado toast. The American solution is to simply live outside your means hoping times will get better. Until you can't - then look for someone else to blame. I wish we would have pieces that wouldn't just be a "look at how bad people have it" but actually have useful advice to avoid common financial pitfalls (buying too much house, too little insurance, not having a budget, not having an emergency fund). This article for example starts at the end "these retired people have no money and few prospects." What about their lives before this?