Spoiler alert: it’s mostly due to simply not having enough excess funds to invest. Sadly, for most people, retirement simply will not be an option.
This video talks about the challenges of saving for retirement in the United States and proposes some solutions.
In the past, employers used to contribute to a pool that was invested professionally and then paid out benefits to retirees. This system ensured a steady stream of income throughout retirement. Currently, the most common retirement savings option in the US is the 401k plan, which has several drawbacks. First, not all employers offer them, and half of all workers in the US don’t have access to a retirement savings plan at work. Second, individuals are responsible for making investment decisions, which can be daunting for people who are not financially savvy. Third, the money in a 401k can be accessed before retirement, which can lead to people withdrawing funds whenever they face a financial hardship.
The video suggests that the US retirement system should be more automatic, like systems in other countries. In these countries, everyone who works is enrolled in a retirement savings plan, and the money is invested for them. This would ensure that everyone has some savings for retirement, regardless of their financial knowledge or willpower. The video also suggests that retirement savings accounts should be protected from being withdrawn before retirement.
Winchell House 
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