Spenders Need to Hear Truth on Saving

* We read that Federal Reserve Bank data find that too many low-income and minority Americans are not saving enough for retirement [“Most Households Not Saving Enough for Retirement, Analysis Shows,” April 27].

We also find in the same day’s newspaper that the rich but frugal took meager means and frugal budgets to save millions [“Lifestyles of the Rich and Frugal,” April 27]. What we need is to have someone send that article to all those people who need to read it.

There is a basic truth about life that too many fail to learn. It isn’t just what you make; it is what you have left at the end of the year so your money saved works for you to make more money. Too many sacrifice self-control for more stuff than they really need.

The American dream is not built on winning lotteries but on saving money and learning new, more marketable skills so you can succeed in your career and in investments. The choice to achieve the satisfaction of earning success is still there for those with discipline and drive.

TERRY PAULSON

Agoura Hills