when you consider the fact that most people need a bare minimum of $ 2 million dollars to secure a frugal retirement future to make up for rising inflation plus future taxation as well as rising healthcare costs and that retirement money needs to last longer than for previous generations since people are living longer the gap to fill between a meager $ 20,000 and a massive $ 2 million could be the grand canyon of financial dilemmas for the average american who is actually saving money for retirement ( as about 25 % or more of eligible workers do n't even contribute to their 401 ( k ) which is a recipe for ruin ) .