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Forum: People are not saving enough for retirement
People aren’t saving enough for retirement, an urgent concern that should be addressed in an upcoming once-a-decade White House summit on aging issues, speakers said at a forum here Thursday. Individual savings will have to supplement future Social Security benefits, as more people are living longer. But people aren’t close to saving enough. “If you look at everybody currently between the ages of 25 and 64,” said Jack VanDerhei, research director of the Employee Benefits Research Institute, “and just take a look at their minimum expenditures” in the retirement years, “there’s a current deficit of $4.1 trillion. And what you also want to focus on is, basically, how that is distributed.”…Read More
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