|This is not exactly the retirement I had in mind.|
The general consensus says going to college and making money is the best way to form your retirement. This is aside from 401(k) among other investment options. According to the Lumina Foundation, 40% of working-aged Americans hold a college degree. So those people need to strive for the top saving and investing all the way up. What about those that can't, don't, won't, didn't, and couldn't afford to get there? What about the majority?
Those that don't or won't hold a college degree through their lifetime will need to work a little harder to meet decent retirement goals. That's okay. Don't let it scare you. Saving is the first thing you have to do. Integrating your savings with an investment option is a great idea. Like a 401(k) fund automatically withdrawn from your paycheck. If you are really young don't get frustrated when you don't make much. In your young age it's more important to get the habit of saving. This is also a great time to figure out what type of savings and investment options work for you. This way you can set into the idea early on and make your mistakes before kids and marriage show up.
When it comes to retirement, for the new generation, don't expect to get rich. Also don't believe everything these banks and investment firms tell you. They just want your money. Even the good ones. It's business. Realize that and do your research. Please 80's and 90's babies I don't want to see us in the street in our old age. I don't want to see us working until 90 because we can't afford to stay home. I want to see a prosperous generation that stands even taller than the generation before it. Not because of the hormones in our beef, but because we learned to be better. This is just the opinion of one man.