Reply #1: Yeah, that's what they always say

[Warpy]

but they fail to acknowledge life patterns that have low earnings in the 20s and 30s that go toward rasing a family, getting established, buying that first piece of property, and generally just surviving. Add to that the fact that wages simply never have recovered to their 1970 purchasing power, and we were poor then, and the author of this article would seem to be indulging in a lot of victim blaming.

I once read an article condemning older boomers for not saving $2000/year when they were first starting out. My first salary came to $2557/year. Once taxes and social security were deducted, that left me with just a hair over $2000. What was I supposed to live on?

In other words, if you're born to the upper middle class, have iherited enough of a trust fund to live on, and find yourself with an Ivy League education and a job near the top, by all means start to save in your 20s. It's the prudent thing to do.

However, expecting those who are ordinary folks with ordinary incomes and ordinary life patterns to follow suit is sheer lunacy. It's why we had pensions. It's why we have social security.