As some one observed recently, and as I have often stated, all the "plans" and "equations" in the world cannot help you if the following fits you:

"...most Americans are financially illiterate..."

Bingo!

You can put away all the money you want, but what is it then doing? Sitting in some CD or a bank? Stuck in some heaven-only-knows-how-good-it-is mutual fund?

Do you KNOW what it is doing?

Do you actively study what your retirement fund is doing?

We had nowhere near what they say we should have had when we retired 10 years ago, but here we are, enjoying life, even after getting whacked by the 2008 mess! We also withdraw more than 4% most years, but so what? I manage it myself and work at making sure we get decent dividends and/or growth to make it up, and I do better than the S&P or the Dow, anyway!

If people expect to dump huge amounts in some account and then have someone else manage it for them, at some juicy cost, they deserve whatever they get.

Wake up, people! Learn. Find out what YOU can do for yourself!

Vermonter