Millions of Americans have not saved enough money for retirement because retirement is not on their radar, it may seem like a distant and far away phase of life. People have busy lives and many expenses, saving money for retirement is on the back burner. This is a huge mistake because the longer retirement is ignored the worse the financial situation may be when that time comes. Individuals need to face the facts and start making steps toward saving and preparing for their future life.
Families or couples may need to consider their home expense, moving to a cheaper neighborhood may become necessary. Also, spend less, as unappealing as that sounds, cutting out unnecessary expenses will help save more money; cutting out cable TV, or anything deemed unnecessary. Also, maximize your 401(k), and take full advantage of it, sometimes this means taking your social security later.