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Why Americans are unprepared for retirement

Why Americans are unprepared for retirement

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There has to be meticulous planning for retirement. Firstly a person must estimate his retirement age and expected life. Thereafter he needs to estimate his monthly/annual needs post retirement. The person must plan in his 20s or maximum 30s and put away a certain amount of money aside in the right fund so as to accumulate the required sum at retirement.

Most Americans are not well planned. They spend their early years spending their money and enjoying the materialistic things available freely. This does not leave them with much planning time. They are also exhausted of addiitional funds that can be invested. Hence Americans are generally unprepared for retirement.

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