This post first appeared on RightAboutMoney.com
I have always been a saver. I was raised to think about money and my financial future. And today whenever I hover over a shiny new purchase, I remind myself that I do not want to be waiting tables as a 75-year-old. This singular image keeps me focused. I suspect most Americans do not save more because there is no such image, or motivation, in front of them. They are not able to picture their future self, and they feel invincible. They will save…next year. YOLO is the battle cry today. When the inevitable “rainy day” arrives, it catches them by surprise.
In this sense, people with disabilities and their supportive families have a leg up. It’s not one any of us would wish for. But these people are driven to save earlier because the rainy day is always there. They have large and unusual expenses on a regular basis. They know they have needs not covered by government benefits. And they do not require any helpful images to spur saving—only programs that make it easier.