Another Reason Why PA Needs Retirement Security
The drumbeat of woeful savings news seems to be growing louder:
“How to Retire Without Running Out of Money,” reads a Bloomberg headline,
“Millennials and Retirement: Already Falling Short,” came a storing topping a study of retirement savings by the National Institute on Retirement Security, and …
Bankrate.com is the author of this latest bit of sobering news. And, no, 20 percent not saving anything doesn’t mean 80 percent are hunky-dory.
Expenses are a big reason Bankrate.com respondents said they are not saving for their retirements … or are not saving enough.
However, nearly one-in-five said the reason they are not saving is they “haven’t gotten around to it.”
The beauty of the retirement security programs already going – or nearly going – in other states is all working citizens are automatically included. If they don’t want to participate, they opt out.
This is key in whatever retirement security program Pennsylvania adopts: participation, we believe, should be automatic and easy (affordable, too).
Life does get in the way.
You tell yourself you are going to open a retirement savings account and then something distracts you: family, relationship, child needs.
Help yourself be better prepared for retirement by joining us in calling your lawmakers about supporting a retirement security program that works for you even if you are not always thinking about it.
Because, usually, when you “get around to” doing it yourself, it’s too late.