How much of it is because when people get old, many realize that the important things are not from having "stuff".  The older I get, the less stuff I want. I think many older folk probably realize that what brings them the most joy doesn't cost much. Also, these "studies" about relpacing 70 percent of your income are a load of crap, funded by the insurance industry to get people to save more. As far as long term care, when you are 85 in this country the government is not going to throuw you out on the street if you don't have enough money.