The Retirement Savings “Crisis”: MIllennials Speak Up
Despite all the reasons why the “millennial generation” should be focusing on saving for retirement, it still doesn’t appear to be happening. Why, you ask. Well, the National Institute on Retirement Security took a look at this issue and developed some answers that capsulize the reasons why this generational cohort (the roughly 70 million people with birth dates from the early 1980s to the mid-1990s to early 2000s) is struggling to save. The fundamental reasons range from student debt to simple procrastination, but it’s clear that the struggle is real–as real as the reasons why savings is so critical. Read this post appearing on www.wthitv.com for more information…
Recognizing the plight of younger workers and the difficulties they face in building their retirement nest egg, the Association of Mature American Citizens (AMAC) has incorporated provisions in its “Social Security Guarantee Act of 2017” (Act) now being advocated in Washington. This legislative framework includes provisions for an “Early Retirement Account” that would “provide a means for all earners to have more income available at retirement,” and would enlist the support of employers to help accumulate funds and investment experts to assure the quality of investment options, with a portion of the proceeds mandated to be invested in guaranteed interest accounts or annuities. Learn more about AMAC’s proposed Act here…