THE NEW RULES OF RETIREMENT SAVING • 3
slow to react when new risks develop, and most Americans are still saving under the old rules. But you are responsible for what you do next. So don’t save with the strategies of yesterday, strategies that can’t overcome the risks of today. Use these new rules of saving. When you finish this book, I promise you’ll feel more confi- dent, more hopeful, and more prepared about your future and how to save for it. I promise that if you follow the New Rules of Retirement Sav- ing, you’ll never have to start a book by writing, “I did it wrong.” Crisis in America There’s a crisis going on in America today, and you’ve inadvert- ently become part of it. As a country, we have a problem using old financial strategies that no longer work to manage today’s financial realities. We are using old rules to address new problems. In most areas of life, we’ve kept up with the times. Certainly no one today takes a photo at the beach with a Kodak camera, drives to the store, drops off the film, waits five days to pick up the prints. Today, you just snap a picture of that sunset on your phone and share it with the world via Instagram. Likewise, if you want to watch a movie on Friday night, you’re far more likely to watch it on Netflix than to drive to a video store, pick out a DVD (or VHS!) and bring it home. In fact, we’re using new rules for most things we do. Do you bank online? Avoid eating too much red meat? Drive a car with an airbag? Research TVs online before buying one? In all these cases and more, we’ve recognized that today’s reality requires new rules. We’ve found better, more efficient, more rewarding ways to do many of the things we depend on for a happy life. But not when we save for retirement. There, the vast majority of us still play by very old rules.
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