Retirement, Like Death, Happens to Other People
People don't think retirement will happen to them. That's my conclusion in scanning some harrowing stuff from a new study on whether people know how much money they need to retire. I was particularly taken by this chart showing the factors people claim to take into account in thinking about what they need to save for retirement:
Most people look at one thing and one thing only: How much they imagine spending. Current investments, current savings, health, age, etc.? All non-issues! And, even more harrowing, more than one-in-four respondents had no idea where to even start with respect to the factors. Oye.
[via MarketingCharts]
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