So where is the powerful vehicle we need - or at least a racing bike?
One solution that could work is a national auto-IRA, which the Obama administration has been asking Congress to approve since 2010 - an idea that has faced opposition from Republicans because of its mandatory participation feature.
A similar program created in the United Kingdom in 2008 has already signed up 34,000 employers and 2.5 million workers, and it features mandatory employer matching contributions, with accounts invested in target-date funds. Some U.S. states are also trying their own solutions, particularly California and Illinois.
“MyRA is a tool - state initiatives are a solution,” says David John, senior strategic policy advisor at AARP.
John thinks myRA will work with the audience it is targeting - people who have not been in the habit of saving - especially because of the guarantee that you cannot lose money. “Saving is like exercise. It’s a habit you get into and build. So long as you have a positive experience, you get acclimated and keep going.”