Earlier quoted context omitted.
I agree that materialistic thinking and living certainly contributes to lack of savings/retirement assets. But so does simply having a family, especially as a single parent or when the spouse doesn't work. You might say "well, the spouse can go work," but it's rarely that simple considering the costs of child care and how it may weigh on the spouse's potential salary. Then factor in if the spouse can even get a highe…
My spouse doesn't work. I'm nearly 25 and on/above target on my 401k savings and am slowly gaining money in regular savings accounts too. I made some bad decisions with debt a few years ago or I'd be even farther ahead. I live in Missouri though, which has pretty low cost of living.
People in my family had hundreds of ks saved up for retirement and have lost it all in their 50s. Now they're in their 60s and have no foreseeable path to retirement. Unexpected events happen.