There are many factors.
But I invested - while making $60K and supporting a family of four on that one salary, while my wife stayed home with our two kids. Drove a 1970 Ford Fairlane, with roll up windows and no AC, to work. Saved me a car payment, which is how I carved out a bit of money to invest.
My “company” at the time, the USN, didn’t have a 401(k). And if I left before 20 years, there was no pension.
So, I did what I could within the constraints I was given.
Maxed out my non-deductible, traditional IRA at $2,000/year Maxed out the spousal IRA, a whopping $250/year for a non-working spouse. Invested in regular, taxable mutual funds.
Lost money. Paid taxes on the losses, not making that up. Learned some hard lessons. Played the hand I was dealt.
There are a lot of reasons that people fail to plan. Fail to prepare.
Most of them sound like excuses to me.