The typical American couple has only $5,000 saved for retirement

[shopgirl]

138. Couldn't Agree More

I have been incredibly lucky. I work part-time and don't make much money, but my husband has done very well financially and I have been the beneficiary of that. He also believes that he has been lucky. He works in high tech sales. He is under a lot of pressure, and he puts in long hours. Still, both of us realize that there are a lot of people who work difficult jobs, often very physical jobs, for a lot less money.

I, too, know people who live beyond their means. People who make poor decisions. And, truth be told, one of the reasons that my husband and I have been able to save to the degree that we have, is because we have always lived way below our means. Even now, we eat out infrequently, we always buy on sale, etc. I guess it's a reaction to when we were first married and had nothing.

But to some degree, I think that is all beside the point. The only reason we have been able to save is because we have had a high income. I think it is disingenuous to suggest that if only people give up their cell phone or internet connection, they, too, could save a lot of money. I think that's insulting to people who are working hard just to survive. I guess what I'm saying is that it takes a lot of income to save the kind of money that financial advisors say is necessary to have a secure retirement. I can understand why someone would feel like they can't possibly save enough so why not enjoy the little luxuries in life. Never mind those who have medical bills, a spouse who can't work anymore or any of the other life events that can upend those who thought they planned for everything.

We do not have children, so that has allowed us to save even more. I have so many friends and family members with kids, and it is very difficult for them to save in any meaningful way.

It's just too easy to blame people when the deck is stacked against them.