Economics Prof. Josh Tasoff’s retirement research featured in Forbes
Why don’t Americans save more for retirement? The answer isn’t what you think.
Yes, the familiar reasons account for some of the explanation: many of us are money-crunched (or at least that’s what we tell ourselves) and some employers, especially small ones, don’t offer retirement plans.
But 95% of Americans have two mental roadblocks preventing them from saving more, according to new research from a team of retirement analysts. And, these analysts say, if we eliminated them, the level of U.S. retirement wealth could increase by at least 12% — or $2 trillion.