Getting out of debt is a recent phenomenon, brought about by the recession and loss/or perceived threatened loss of employment. For the vast majority of N Americans, retirement is the elephant in the room. We know it's there but we don't want to see it. We are accustomed to instant gratification, enjoying a dinner out, watching our kids sport competition, mobile phones keeping us in touch 24/7, buying the latest electronic gadget or trendy garb [on credit].
There is no immediate gratification from retirement withholding or even employer match. Those that saw the value of their retirement plan plummet likely wished they'd gone on an exotic holiday rather than save! Don't you think?
There needs to be a lot more education about retirement now that defined plans that our parents enjoyed...have all but disappeared unless you are military, a poliician or government.
|