Friday, March 31, 2023

Play

Donald Trump indicted by Manhattan grand jury, Georgia campaign fights to reopen local hospitals, and New Mexico creates first-ever $100M conservation fund.

Play

Former President Donald Trump is indicted by Manhattan's district attorney, House Republicans take aim at renewables in new energy bill and House Dems introduce the Women's Protection Health Act.

Play

Small towns respond to a hidden housing and homelessness crisis, a new national weather prediction system will help close the gap between urban and rural forecasting, and more rural communities are eligible for a design project to boost economic development.

Survey Shows Washingtonians Anxious About Retirement Savings

Play

Wednesday, September 21, 2016   

SEATTLE - Groups concerned that people aren't saving for retirement are launching a campaign today to help them find better ways to save.

The "MoneySmarts" campaign, sponsored by AARP, BECU and the FINRA Investor Education Foundation, is launching at the Museum of Flight in Seattle and then taking the campaign on the road across Washington. AARP recently surveyed Washingtonians and found that 55 percent are anxious about their financial security after retirement.

Jean Chatzky, AARP financial ambassador and financial editor for NBC's "Today" show, said that while markets have recovered from the recent recession, many people haven't.

"When you look at the stock market, when you look at the main indexes - the S&P, the Dow - they're up 180, over 200 percent in some cases, since the bottom in 2009," she said. "But many, many people have been sitting on the sidelines and it means they haven't capitalized on that."

Chatzky said about two-thirds of people still are recovering from the Great Recession. She will be the keynote speaker at today's MoneySmarts campaign kickoff.

The survey also found that almost half of Washington adults have saved less than $25,000 for retirement, and that two-thirds never have calculated how much they need for retirement. According to Fidelity Investments, Chatzky said, you should have 10 times your annual income saved if you plan to retire at age 67. She added, however, that that number shouldn't freak people out, and there are ways to make up the shortfall.

"You can save a little more now by starting to scale back a little bit sooner," she said, "maybe downsizing before you thought you were going to downsize, or continuing to work a bit longer and putting off taking Social Security."

Chatzky added that retirement plans at work are another useful tool for saving. Next year, the Evergreen State will become the first state to set up a "Small Business Retirement Marketplace," which Chatzky said should make retirement plans more available for small-business owners who typically have a hard time affording plans.

"Companies with fewer than 100 employees will have access to lower-cost marketplace retirement plans for the people in their workforce," she said, "which should make these set-it-and-forget-it-type retirement plans much more affordable and much more prolific."

The survey is available online at aarp.org.


get more stories like this via email

Parents, students and teachers are raising concerns over proposed education policies in the Sunshine State. (Pixabay)

Social Issues

Some students, parents and educators plan to rally to send a message to Gov. Ron DeSantis on April Fools' Day. The group of unions, parents and …


Health and Wellness

Small-business owners in North Carolina are reaching out to legislators for help, citing hospital mergers as one reason their health-care costs are …

Environment

A REASONS TO BE CHEERFFUL/SOLUTIONS JOURNALISM NETWORK/WISCONSIN NEWS CONNCECTION COLLABORATION Milwaukee is tied to a wave of freeway removals in th…


Initial money through the American Rescue Plan Act provided education funding to 140 school districts in Tennessee to support post-pandemic academic recovery, student mental health and schools' ability to reopen safely. (f11photo/Adobe Stock)

Social Issues

Tennesseans aren't the only ones mourning the tragic loss of three children and three adults at this week's shooting at Nashville's Covenant School…

Health and Wellness

Doctors in Iowa are studying the brains of babies to learn more about sleep patterns in adults and teens. The United Health Foundation reports one-…

While more than 3,500 people have been awarded the Medal of Honor since it was created by President Abraham Lincoln, only 65 of them are alive today. (The White House)

Social Issues

While National Medal of Honor Month is ending, plans to develop a museum and monument for the award are continuing. Numerous Medal of Honor …

Social Issues

Construction of the Medal of Honor Museum and Foundation is under way in Arlington, Texas - a place to pay tribute to those who've earned the …

Social Issues

Labor leaders in various industries recently celebrated the 85th anniversary of a federal law that laid the groundwork for registered apprenticeship p…

 

Phone: 303.448.9105 Toll Free: 888.891.9416 Fax: 208.247.1830 Your trusted member- and audience-supported news source since 1996 Copyright 2021