For Immediate Release: April 3, 2017
America Saves Joins Effort to Promote Retirement Planning
Washington — Every day thousands of baby boomers enter their retirement years. They are, unfortunately, members of a generation who are largely unsure of their financial future. For the past seven years, Insured Retirement Institute (IRI) research has discovered that baby boomers’ confidence in their financial preparations for retirement is steadily dropping. In 2017, only 22 percent of baby boomers feel adequately financially prepared for retirement.
Baby boomers have redefined life at every turn and counted among their lasting legacy will be how Americans prepare for their retirement years. Through the course of their working years, baby boomers faced new and unique challenges, including changes in employee benefits, longer life spans, uncertainty with Social Security and Medicare, and rising health care costs. As a result of these obstacles, more and more Americans are shouldering the burdens of retirement themselves; even as preparing for and financing one’s retirement becomes increasingly difficult. This new paradigm is largely responsible for the confidence deficit observed among baby boomers.
The National Retirement Planning Coalition – comprised of prominent education, consumer advocacy, and financial services organizations – says this does not have to be the case. Rethinking your retirement by developing a holistic financial plan can restore confidence and build savings for those post-working years. To help spread its message, the Coalition has organized National Retirement Planning Week®, a national effort to help consumers.
#RethinkRetirement is the theme of this year’s week. America Saves is proud to announce that it will be supporting National Retirement Planning Week® 2017, which will take place from April 3 to 7.
“Young or old, savers with a plan are twice as likely to save successfully, whether it’s for small or large goals,” said Allie Vered, director of America Saves. “National Retirement Planning Week gets the conversation started about what people need to be doing now to support themselves in the future. The earlier you start the better, but it’s never too late to save. Make a plan to put money aside consistently and automatically and you’ll be prepared for whatever life brings.”
The National Retirement Planning Coalition, spearheaded by IRI, recognizes the need to educate Americans on retirement planning and is committed to making this a national priority. National Retirement Planning Week® and other Coalition activities demonstrate that it is possible to “Retire On Your Terms.” To support these education efforts, the coalition has collected the latest resources to help consumers and financial professionals focus on long-term financial goals. These tools are available year-round at www.retireonyourterms.org.
Throughout National Retirement Planning Week, the Coalition and its supporters will be releasing additional educational materials for public consumption. This will be accomplished through a national media-outreach program which includes radio, print spots, and the social media campaign #RethinkRetirement, as well as through the website. In conjunction with a host of events and meetings with legislators on Capitol Hill, National Retirement Planning Week will be the beginning of a renewed national conversation on the importance of preparing and protecting retirement.
About America Saves
America Saves is a campaign managed by the nonprofit Consumer Federation of America that uses the principles of behavioral economics and social marketing to motivate, encourage, and support low- to moderate-income households to save money, reduce debt, and build wealth. America Saves encourages individuals and families to take the America Saves pledge and organizations to promote savings year-round and during America Saves Week. Learn more at americasaves.org and americasavesweek.org. America Saves is a member of the National Retirement Planning Coalition dedicated to raising public awareness of the need for holistic retirement planning during National Retirement Planning Week.
About the Insured Retirement Institute
The Insured Retirement Institute (IRI) is the leading association for the retirement income industry. IRI proudly leads a national consumer coalition of more than 30 organizations, and is the only association that represents the entire supply chain of insured retirement strategies. Members of IRI are the major insurers, asset managers, brokerdealers/distributors, and 170,000 financial professionals. As a not-for-profit organization, IRI www.RetireOnYourTerms.org Insured Retirement Institute (IRI) | 1100 Vermont Ave. NW, 10th Floor | Washington, DC 20005 | (202) 469-3000 provides an objective forum for communication and education, and advocates for the sustainable retirement solutions Americans need to help achieve a secure and dignified retirement. Learn more at www.irionline.org.