The New York Times has an interesting article about a report showing Americans are saving too much for retirement. According to a small group of economists, all the talk about negative savings rates in
I’m skeptical. While think that Kotlikof makes a good point about financial companies overstating the amount they save so they can make a profit, I think that’s a stronger argument for taking care of your own investment portfolio than the argument that Americans are saving too much. Even if I don’t use all my money during retirement, I think it would be nice to leave some for my posterity. Plus, my personality type is the laborious ant-working and saving in order to be prepared for the worst case scenario- as opposed to the grasshopper. The report is something to think about. However, I’ll keep socking my money away.