Posted on Aug 27, 2018
1 in 3 Americans have less than $5,000 saved for retirement—here's why so many people can't save
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It's not that they can't save, it's that they won't save. Make eating out a treat, not a daily thing. Fast food may be fast but it can eat up your budget. Do you really need cable TV ? Think about what you need versus what you want. In my early days tomato soup and bologna sandwiches where the norm. Monthly payday a trip to the pizza joint. Just my two cents.
1 in 3 Americans have less than $5,000 saved for retirement—here's why so many people can't save
Posted from cnbc.comPosted in these groups: 
Retirement
Retirement
Posted >1 y ago
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CW5 Jack Cardwell When grilling Bologna and Velveta cheese, the Bologna needs to be notched on the periphery so it doesn’t curl!
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I commonly can be heard saying that I hate money. My wife and I got into debt due to "life" happening. Now, we've made some decisions that didn't help but a lot of it was outside of our control. While we're currently on the road to debt freedom (3 more years) we constantly battle between spending and saving. Do we take a beach trip with the kids and enjoy life with them or stay home and save the money? There's pros and cons to each.
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CW5 Jack Cardwell
So true, you still must enjoy life. I have a friend who takes saving to the extreme. There has to be a balance.
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It is the same for saving for children's college expenses. If you start putting a small amount every month into something as simple as a mutual fund, you don't even miss that money, it comes out automatically. As you earn more, increase how much you save. We used a UGMA account knowing the money was the boys at their majority.
It is even easier if where you work has a 401K or something similar. You can put money in before taxes. You don't have to start with large amounts.
It is even easier if where you work has a 401K or something similar. You can put money in before taxes. You don't have to start with large amounts.
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MAJ (Join to see)
Not only do I have a 401K at work, but my company matches up to 4% of my salary. And my kids will probably have the same college fund as I did. It's called the GI Bill.
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Maj Robert Thornton
MAJ (Join to see) mine went to school on the HOPE scholarship. My deal with them was I would pay any expenses that the HOPE didn't, as long as they kept the HOPE. #2 son lost it after his freshman year, but got it back prior to his junior year. Both graduated debt free and with money in the account.
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