My latest post at Alpha Baskets is titled Self Sufficiency and Resourcefulness Over Complaining and looks at several articles that paint a good picture of the obstacles that people face saving for retirement including Helaine Olen’s article at Salon noting that 401ks are a sham. These types of woe is the world articles pop up all the time and it’s not that they are incorrect but they don’t move the conversation forward.
If you’re 40 or 50 years old and feel as though you are way behind where you should be for whatever reason then an article confirming that saving for retirement is impossible won’t help and might make it worse if it creates the sentiment that no one is saving for retirement so I won’t bother trying.
From the post;
As far as the industry blaming individuals for not saving enough, I won’t disagree with her necessarily but would say, as I have many times before, that savings rate is the thing most within individuals’ control. They have more control over lifestyle choices than they do over market returns and 401k fees. Yes, people may not have control over certain lifestyle choices but you do have a better chance controlling that than you do anything to do with markets or fees.
Please click through to read the entire post.
The picture was taken in Aguila, AZ which is on the way to San Diego from Prescott.