No matter which way you cut it, things aren't looking good for retirement.
Despite a deluge of warnings from advisors, research groups and financial institutions, many Americans are still woefully unprepared to leave the workforce. A little more than a third don't have a savings strategy, according to the Transamerica Center for Retirement Studies, and a new Bankrate.com survey found that 36 percent haven't put away so much as a penny for retirement. That includes 26 percent of people age 50 to 64, for whom retirement is a near-term concern.
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"Given a choice between retirement and 'today-ment,' people are naturally more focused on today's money needs," said certified financial planner Cindy Richey, president of Prosperity Planning in Kansas City. "Deep down, we know we should be putting something in our 401(k)s, but the benefits are just so far out there, that it's not real to people."