AARP Massachusetts

When do you expect to retire? For too many people, that answer appears to be never. It’s a scary thought, but that’s what more than one quarter of Americans over 50 now say, according to new AARP research. Rising costs, including sky-high housing expenses, debt, and a lack of savings are the main culprits, as roughly 1 in 5 adults 50 and over say they have nothing put away for retirement. I wish I could say these results were surprising, but it’s a problem we have been seeing for years – and it only appears to be growing more urgent. Among adults 50-plus who are regularly saving, just 33% expect to have enough money to be financially secure for retirement if they keep up at the same rate. In an eye-opening piece in The Associated Press, reporter Fatima Hussein, citing the AARP survey, quotes our own Indira Venkat who lays out the problem clearly: “Far too many people lack access to retirement savings options, and this, coupled with higher prices, is making it increasingly hard for people to choose when to retire.” If you’re still working, talk to your employer about retirement savings options or contact a financial advisor for help. AARP also offers free resources to help you plan and figure out what you can do now to create a more secure future. Check them out at www.aarp.org/tools.?? And, if you’re curious, here are the full survey findings: https://lnkd.in/eSVRpzJR. #RetirementSavings #RetirementPlanning #WorkplaceSavings #Research

There is no other way to say it: Our country is facing a retirement savings crisis. The latest research shows that 1 in 5 older adults have no retirement savings, and more than half worry about their financial security in what should be their golden years. At AARP, we believe that improving the health and financial security of older Americans is key to ensuring they can have a fulfilling life as they age, but our current retirement systems fall short of that goal. People are 15 times more likely to save when they can do so at work, yet nearly half of all private-sector employees — nearly 57 million people — lack access to a 401(k) plan or other retirement savings option through their employer. This article, part of The New York Times Magazine’s “Retirement Issue,” is a thought-provoking deep dive into the history of retirement savings in our country, the pitfalls of the current system, and importantly, what improvements can be made to create a more secure financial future for America’s workers. One proposal mentioned is the Retirement Savings for Americans Act, a bi-partisan bill that would create a federal retirement savings plan for millions of people who aren’t offered one at work. The legislation would build on the work AARP has been doing in states across the country to increase access to retirement savings programs, especially for those working for small businesses. Every older American deserves to retire with dignity. It’s time to make sure that goal is achievable for all of America’s workers. #RetirementPlanning #RetirementSavings #FinancialSecurity #Policy

We wrapped up National Volunteer Week with our annual volunteer conference featuring keynote speakers Senator Edward Markey and award winning reporter Jorge Quiroga! This volunteer-led event was filled with informative sessions and inspiring conversations that left us ready to take action. Excited for a new wave of volunteers!