Automatic Retirement Accounts
Studies have shown that Americans have been falling behind on retirement planning and are not able to put away enough money to support themselves in retirement. More and more are coming to rely on Social Security as their primary source of income in retirement leaving many living in poverty. One suggested fix is an automatic retirement plan set up through employers for their employees. Experts are finding that the best way to get people to save better for retirement is to enroll workers in programs such as these automatically as 90% will continue saving once the account is set up. For more information on this subject, visit this article by Chris Arnold with NPR.
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