Willingness to Solve a Problem: In addition to acknowledging their problems, there has to be an willingness to solve it. Of those that are overweight, only about 25% are trying to lose weight (Gallup Poll). When it comes to retirement savings, 56% of adults have less than 10% saved according to a GoBankingRates survey. There is at least 30% that can, but don’t contribute to their companies retirement plan, possibly missing out on matching funds.
One of the biggest hurdles to losing weight or saving for retirement is our expectations. When it comes to losing weight, everyone wants to immediately lose the weight that took them years to gain. Saving for retirement is a long, ongoing process, but people don’t save today becaue. Both of these problems require changing our habits. The good news is that the changes don’t have to be significant. Just enough to start to build some momentum in the right direction.
In addition, Americans severely underestimate how much their healthcare costs will be and how much they will need in retirement savings.