It never ceases to amaze me how few people actually save money. Wherever I went in my life – and I have been around quite a bit – people seem weirdly obsessed with spending their hard earned cash as fast as possible. They seem to be addicted to spending money as opposed to saving money.

Most people spend money recklessly and without any reflection as to why they are spending it. Furthermore, the majority of people out there – unfortunately – are simply financially illiterate and Western consumer culture glorifies consumption and hedonism … and that’s why the savings situation in America and the Western world, in a nutshell, is so bad!

As a matter of fact, not saving enough money for retirement is one of the largest financial regrets Americans have. According to a 2017 Bankrate survey, 22% of survey respondents said that they regretted not socking away more money for their retirement. Other regrets include not building an emergency fund (16%) and taking on too much credit card debt (9%).

Here’s a breakdown of Americans’ financial regrets.

The average American is hardly prepared for retirement.

21 percent of Americans don’t have any retirement savings at all, and average retirement savings total just $85,000 … way too little to depend on during your retirement years. Most retirement experts and financial planners recommend to have at least $1 million in your retirement accounts when you retire, and the real number may actually be higher than that considering that health care and living costs will keep rising in the future.



The savings and retirement crisis is real, and a lot of people may not even realize that poor retirement planning is going to be a huge problem for them in the future.

The good news is that we can do something about it. While the numbers may be a bit discouraging, you can easily change the financial trajectory of your life by starting to save money TODAY. Whether it is just 5 dollars, 5 pounds, or 5 euros, it doesn’t matter … take that money and put it into your guinea pig or your savings account today.

Saving small amounts of money has been an absolute game changer in my life, and it will be the same for you. Tackling large financial challenges such as (early) retirement starts with forming new habits, and this includes building the habit of saving money.

Proving to yourself that you can save money consistently will not only build your savings but also your confidence. Saving just $5 today will make a big difference 5 or 10 years down the road, so if you take anything away from this article, it should be that you can change your destiny by adjusting your attitude towards money and prioritizing saving money over spending money.

Preparing for (early) retirement is a big challenge indeed, but you can tackle it one step and $1 at a time. Don’t be intimidated or discouraged and simply start by saving just 5 dollars, 5 pounds, or 5 euros TODAY.

Good Luck