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Scarce Resources On Anticipated Retirement

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Scarce Resources On Anticipated Retirement

Plan to discuss your analysis in class. The following is a suggested outline for the assignment:
•Define the issue.
•Describe five influencing factors.
•Cite the data from three or more sources to support the importance of the issue.
•Address the challenges and consequences of not addressing the issue.
•Propose a solution or innovation.
•Define economic investment needed and why the lay public should join in these efforts.

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Solution Summary

Retirement plan is an essential components for people over 65 and older because they are not working anymore. Therefore, it is very critical if the retiree understand the benefits and perks of retirement. Althought, the reward is there for retirement, many people simply do not take advantage of the retirement plans. We need to educate the public about retirement one thing for all.

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The issues are that we do not have enough for retirement. Yes, I agree with this statement and there are many factors that may support this statement. First of all, we do not save enough for our retirement. The reason is that about 30 percent of private industry workers with access to a defined contribution plan ( like a 401k plan) do not participate in the plan. If your employer offers you a retirement plan, you can sign up for the plan and contribute all you can. The taxes will be lower, your company may kick in more and automatic deductions make it more easy. Over time, the compound interest and tax deferrals make big difference in amount you will accumulate.
Secondly the most of us do not contribute to the traditional pension plan. You may check to see if you are covered by the plan and understand how it works. Inflation and the type of investments you make can play important roles in how much you will saved at retirement. Social security is not enough for us to live on when we are retired.
•Describe five influencing factors.

The five influential factors to your retirement saving are your employer's retirement saving plan. You must sign up and contribute to the plan. Once sign up and contribute, your taxes will be lower and your company may kick ...

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