AARP.org
Connect with the AARP Community.
Log In
Register Now

shAARP Talk: Observations from AARP

(Category: General AARP)

David Goldstein | June 26, 2008 | 9:34 AM
David Goldstein

0 Comments

Well boomers have had a rough go of it when it comes to saving for retirement. The diminishing likelihood of support from Social Security and the end of the pension era have closed many doors to those looking to prepare financially for retiring. Throw in the trouble in the housing market and its little wonder that by 2009 the net worth of boomers will have dropped between 20 and 40 percent.

Despite all the doom and gloom in regard to the economy and retirement savings, there are still simple, common-sense approaches to encourage growth of personal savings. The automatic IRA proposal first thought up by David John and Mark Iwry is a simple but effective plan to help many of the over 75 million workers who have no work place retirement programs. That's why AARP and several other organizations are backing the proposal. We need to adopt ideas like these to prevent a future with millions of older Americans living in poverty.

Leave a comment

Disclaimer: By submitting a comment, you acknowledge that it will be publicly available on this blog for others to view. You are fully responsible for the content that you post, and AARP assumes no responsibility for the messages or content of others. Comments are to be used for non-commercial purposes only. Please behave respectfully to other members of this blog community. Comments are moderated, and will be deleted if determined to be inflammatory, abusive, off-topic, obscene, sexually explicit, use excessive foul language, or are of a personal nature. Please do not post personal contact information and do not impersonate other members of this blog community. We reserve the right to change these rules at any time.