Tips, advice, and the latest news from the savings world.
February 22, 2012
By Phyllis C. Borzi, Assistant Secretary of Labor for the Employee Benefits Security Administration.
In life, there are some simple bits of wisdom that become so familiar many of us risk overlooking them. When it comes to savings, “Set a goal, and then make a plan and stick to it,” is certainly one of them.” I imagine you heard something very similar in early childhood – from a prudent grandparent, perhaps – the moment you earned your first dollar for a day’s chores. In an economy that’s beginning to show encouraging signs of revival, Americans have an opportunity to save more aggressively and so it’s vital that we recall those bits of wisdom about savings again.
As the head of the Employee Benefits Security Administration at the U.S. Department of Labor, I’m responsible for assisting the millions of Americans who are provided retirement benefits (such as 401(k) plans) through their private sector employer. As part of America Saves Week, we are hosting a public forum this weekend in Boston with the Center for Retirement Research at BostonCollege. The forum, “Women and Retirement: What Every Woman Should Know Before It’s Too Late,” is a chance for us to help women understand what they can do now to adequately save for retirement.
While all people are welcome at the forum, we’re focusing on women since statistics show that women heading into retirement are at a distinct savings disadvantage when compared with men. For instance, women are more likely to work in part-time jobs that don't qualify for a retirement plan, and they’re also more likely to interrupt their careers to take care of family members therefore working fewer years and contributing less toward retirement. Also, they tend to live longer than men creating a greater need for their retirement assets to last longer. This forum is an opportunity for women to hear from some of the experts in the field of retirement planning about some of the most important savings decisions they face.
February 21, 2012
By Katie Bryan, America Saves communications manager
Join @AmericaSaves, Philip Taylor of @PTMoney and @SallieMae for a Twitter party tonight full of tips for saving money in honor of America Saves Week 2012. This is a great opportunity to share your financial goals and receive advice from experts and other American Savers.
We are so proud of the community of people that have joined together to make saving a priority and look forward to tweeting with everyone tonight.
Need another reason to join the party tonight? Prizes will be given out including a $500 Apple gift card. (YAY!)
Date: Tuesday, February 21, 2012
Time: 8-9pm EST