Can We Change the Retirement Outlook for Americans?

1) We take the path of least resistance.

However, when there is no path of least resistance to retirement savings, we end up saving less or not saving at all.

2) We procrastinate.

In The State of America’s Workforce study, 40 percent of Americans cited this procrastination — not saving early enough — as their key mistake.

3) We’re optimists.

We think we’re at a lower risk of experiencing hardship and underestimate the need to save.

4) We’re adverse to uncertainty.

Long-term planning is hard enough when we know all related variables, but retirement planning is riddled with these unknowns.

What can be done to improve retirement readiness?

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