No. of Recommendations: 2
I was just reading an article the other day about how many Americans have no savings because they feel justified in draining it to pay for luxury items like new SUVs, houses and trips.

I am 43 years old and have only $68k in my retirement fund, and it bothers me that it's so low and that my savings account is $150. Meanwhile, that is about 90% more than all my friends have in retirement and none of them have any savings. I think everyone is expecting "the government" to bail them out while they have fun with their money now. And I also fear that I'm going to be called upon with all my "retirement riches" to bail out others. My husband has a pitiful balance in his 401(k) plan and I've begged him to max it out now that he's out of debt. I know part of the reason it's low is that he was out of work for several years, but he's definitely got to play catch-up. He's got a few more years to save than I do, but I can't be saving for both of us when I'm still the one in tons of debt. Fortunately he finally listened and significantly increased his contributions.

If only I could go back and fix things with how I handled my money 25 years ago. Even in terms of my first job (that I was in for 10 years) where I took raises "off the books" because it would get me more money. At 18 I was too naive to really realize the impact of having 10 years of lowered wages for social security. Not that I expect there to be much, if any SS left for me when I retire anyway, but still ...

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