For Too Many, Social Security Is Main Retirement Plan New York Times (12/20/01) Vol. 15, No. 15 p.1; Varian, Hal
Economists Stephen F. Venti and David A. Wise have released a study that shows that even wealthy citizens do not save much, with only half the households in the study contributing to a retirement plan. Most of the respondents knew that they had not saved enough for retirement and were worried. Advertising encourages people to spend rather than save, and there should be more plans designed for those with lower income.