Americans are Increasingly Insecure about Retirement

In the United States, education regarding retirement planning is sparse. The concept of "financial wellness" is not nearly as popular as other wellness movements sweeping the nation, like keto diets, going vegan, meditation practices, or cutting sugar from a diet. I would argue that financial wellness is just as important as physical and spiritual wellness, however. Being financially secure can reduce stress and give a person peace of mind.

According to a new Boston College study, 51% of U.S. households are at risk of not being able to meet their standard of living in retirement. In other words, people half of the population is set to have to make sacrifices in their twilight years -- the opposite of which should be true. 

The figures keep getting worse. In 2007 - which of course was before the Global Financial Crisis - only about 40% of U.S. households were at risk of being unable to reach their retirement goals. This percentage was too high then, and it is certainly too high now, in my view.

I've written before about simple steps a person can take to boost retirement savings and become better savers in general. For complete and total simplicity, I will break it down into two steps:

1. Save 20% of every cent you make. If your salary is $1,000 a week, then save $200 a week in a retirement plan or an IRA/Roth IRA. Period.
2. If you still have at least a decade until retirement, it is my strong opinion that you should own close to 100% equities. Keep it inexpensive and simple. I'd recommend putting 50% in the S&P 500 and 50% in world equities minus the U.S. (ACWX). That's it. Own the world, don't look back and don't sell (once again, just my opinion).

Taking just these two steps will put you in a better position than at least 50% of Americans, but probably many more than that.

Below, Tickeron's A.I. takes a detailed look at tickers that represent the S&P 500 and ACWX.