"Savings? What Savings?"
A journalist has just looked at his savings. He finds that he is way, way behind.
Journalists are among the last to spot a trend, even in their own lives.
I love autobiographical accounts like this one:
Where were these people when the memo was sent out? I got mine in the spring of 1959. It was a class in what was then called "Senior Problems." For me, it was just that: the problems facing seniors in the future. We were taught about the unfunded liabilities of the Social Security program. This was six years before Medicare. Ours was literally the only public school class in the school district that taught this, as a local speaker/flak for Social Security later informed the teacher. I suspect that ours was the only such public school class in the state.
Savers get behind early in marriage, and they cannot catch up.
With bank interest rates at zero, they cannot catch up.
With the S&P 500 lower than it was in March 2000, when discounted for price inflation, they cannot catch up.
Do they change their spending habits? No. "Why bother? We cannot catch up."
They should be training to become Walmart greeters. There will be lots of applicants.
Never say retire.
In the meantime, you can go through the slides that the NFL offers in its course on money management.