This is a big part of the crisis. By the time most people sit down to think about these things, that ship has sailed. If there is no large inheritance coming, there is very little you can do. It is too easy to kick the can down the road in your 20s and 30s. You have to pay for daycare, get rid of that student loan, save for the house, etc. If you get to 45 and have a 401k with 20 grand in it you are in trouble. It's harsh, but a reality people need to educate their young adult children on. That training has to come from mom and dad because nobody else is going to do it. Some people have nothing left to save, but a lot of people would be better off balancing their goals. Even if you can only put down $150 a month in an IRA or something that is massively better than 0 by the time you hit 45. And a lot of people can save more than they think, they just don't sit down and strategize. I encourage people to start IRAs for their children when they are very young. You can contribute anything up to what you earn in a year. If you have a 12 year old that rakes leaves, shovels snow, etc. and he makes $800 he can contribute $400 to an IRA. You can even 'employ' them to do menial jobs for your side job and pay them, all that counts as earned income and they can contribute to their own IRA. It gets them in the habit of it and is a good way to teach. It is pretty cool to send a kid to college and already have them rocking an IRA with a few thousand dollars.