Procrastination and Misunderstanding Are Having an Impact on Retirement Readiness
Fidelity Investments’ first-ever Retirement IQ Survey produced some startling conclusions, one of the most significant of which is the persistent underestimation of how much is needed in the way of savings for a comfortable retirement. This, coupled with an overall failing grade among survey participants on questions basic to retirement planning, underscores the need for employers to do a better job assisting employees in understanding the importance of knowing key aspects of long-term financial planning. Freelance writer Bruce Shutanin, in a post on www.employeebenefitadviser.com, takes a look at this subject and offers suggestions for how employers need to engage employees for the future. Read his article here…
This posting is presented for informational purposes only and does not represent legal or financial guidance. Any opinions or interpretations presented are either those of the original author or, in the case of articles authored by the AMAC Foundation, are the opinions of AMAC Foundation staff, originally trained and accredited by the National Social Security Association (NSSA) and certified via the AMAC Foundation. Any links included in the article are valid on the posted date; socialsecurityreport.org cannot guarantee the duration of the links’ validity. NSSA and the AMAC Foundation and its staff are not affiliated with or endorsed by the Social Security Administration or any other governmental entity. To submit a question, visit our website (https://amacfoundation.org/services/) or email us at ssadvisor@amacfoundation.org. Because we are a non-profit organization, there is no charge for these services.
It’s up to you, the individual, to take the initiative to build and protect your retirement from the effects of the coming inflation. That is, if you have anything left after paying for healthcare and all the other things one has to have nowadays just to live. I long for a simpler time, when a dollar was worth a dollar and you knew what your leaders were up to. That hasn’t been the case for decades, so to me it was prudent to start looking for a better place to live out my final years. That place ended up being in Panama at Finca Cazador, where the cost of living is so much lower and life is much simpler.