Welcome to the Jill on Money Podcast. Did you know that family finances still have not

recovered from the collapse of the housing bubble and the financial crisis?

In fact, it's retirement that's really suffering.

That's what I talked about this week on CBS this morning.

In this morning's eye on money, many Americans are being left behind when it comes to saving for retirement.

Listen to this, almost half of people 55 and older have saved nothing.

Yikes.

CBS News, business analyst Jill Slesinger is here with how you can catch up financially.

Now you would think those people, and I can call them those people because I am one of those people.

You would think they would know better.

What happened?

Well, I think there's a couple of things.

First of all, remember, we used to have a system where people would say,

I get my Social Security, I have a pension, right?

I work for a company, and I have my own savings.

We then saw a shift from pensions where your company paid for your retirement

right to you paying for your retirement to the 401k era. And you know when we put that burden

on workers it's really a lot harder.

Also when you have a 401k or a 403b those kinds of accounts they are incredibly

susceptible to downturns. When you have a pension the company's got to put more money in

during a downturn. When you have a downturn you're like oh my god I got to get the money

out of my retirement account I got to pay my bills. That combination has put so many

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