Intellectually, they believe they want guaranteed income, tax-free income and/or minimized taxes. However, typically they have done nothing about it because of five prevalent reasons:
Almost all people believe that the IRA and 401(k) are the ideal strategies to save money for retirement. This is not entirely TRUE. There are pros and cons.
Most people believe they will retire at a lower rate than they are in.
Most people believe taxes will be increased sometime in the future.
Most people want to maximize their social security. However, this is not feasible for many people.
Most people I have met have experienced one or more of the following: