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Indeed when they continue to remind us of the very low savings rate in the US, you would not be surprised to learn that the median 401k value at retirement in the US is $50K.

So Social Security and Medicare will be the core of most retirement plans for years to come. A pension and health insurance from a union or employer adds to the plan, but often the pension is small. The smallish 401k balance provides little more than a safety net for some unexpected expenditure.

And yes there will be lots of people like this. These are the ones who have jobs that paid pensions or had 401K plans in which they participated. Plenty have far less.

We are headed for a time when the gap between the haves and have nots widens in retirement. And that could be political dynamite.

But what is the solution to this problem? Education? Training? Preaching? Too many need the money for other things or just won't listen. So we are stuck with this problem getting worse.
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