Only Half of Americans are saving for retirement

[demelza]

This is scaring me....

money.cnn.com/2012/05/10/retirement/saving-retire/?npt=NP1

[laigut]

After some vague discussions with our friends, H and I have decided that there is a good chance that we are the only ones actively saving. Some seem to contribute the bare minimum to get a match, but that's it. It's not that they can't afford to save, they would just rather spend money now

[rex]

This is scary. I try not to think about what it will be like in 30, 40 or 50 years.

[Roc A Bee]

I met with a financial planner this week. He was shocked that I was setting up retirement as a 27 year old. He said he mostly meets with 40 and 50 year olds.

[Deleted]

I'm concerned as well. We save about 12-13% of our HHI each year. I worry about this a lot as I look at my account balances in my 401k, Roth, etc. Am I going to have enough when I'm 80? My DH is 6 years older than me, so statistically speaking, I'll outlive him. I don't want to be worrying if I get to eat or pay heating bills.

[hanihani]

I audit a couple of 401(k) plans a year, and I see how much people are contributing, their balances, any loans, etc. It is shocking to see how low the balances are overall, how many people have loans, and how few people actually max their contribution for the year.
I don't know if this knowledge makes me feel better about my retirement savings, or worse because practically nobody is saving anything.