A recent survey of 2,697 Americans found that 49 percent are not contributing to a retirement plan and a majority of younger workers are not saving for their future needs. The survey, conducted by LIMRA Retirement Research, found that less than a third of Americans over the age of 50 had met with a financial professional to discuss a plan for retirement and, among respondents that said they aren?t contributing to a retirement plan, most said they can?t afford to save. The survey results also show that higher-income Americans are most likely to consider contributing to a plan in the next year. Matthew Drinkwater, LIMRA?s managing director, said that the results were disturbing due to the fact that people will need to rely heavily on their personal savings to make ends meet in retirement. Drinkwater said that it is critical that people begin saving systematically early in their working years to properly address their retirement needs. More here and here.
Category: Health & Wellness
Tagged: director, drinkwater, Elder Law, Eric Barnes, fact, fact that people, Kaysville, LIMRA, majority, managing director, percent, personal savings, plan, professional, respondents, retirement, retirement plan, retirement research, Saving, saving for retirement, survey results, Surveyed, The ElderCare Law Firm, Utah
Source: http://elderlaw-infoblog.com/?p=726
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