Saving for Retirement: What You Need to Know
At a time when nearly one of three U.S. households have $0 saved for retirement, the nonprofit Alliance for Investor Education (AIE) is making available “Saving For Retirement: What You Need To Know About 401(k), Traditional IRA and Roth IRA Plans.” AIE is a consortium of 18 leading U.S. financial-related foundations, nonprofit organizations, associations and governmental agencies, including AAII.
Many employers offer some sort of retirement savings plan, such as a 401(k), 403(b) or IRA. Employees who take full advantage of these tax-advantaged ways to save can build significant retirement assets. As Americans continue to live longer, it is more important than ever for households to secure a retirement nest egg and to be educated about how they can save for retirement. A retirement savings plan is often the most convenient and potent way to save for the future.
AIE President Don Blandin, who also serves as president of the Investor Protection Trust, said: “Investors should always be aware of the best retirement savings options available to them. It’s important for younger investors to educate themselves about their employer’s retirement plan options, whether their employer offers matching retirement contributions and whether their level of retirement contributions is enough to ensure a healthy retirement. Far too often I hear from investors who didn’t know that their company offers to match their retirement contribution. That’s just leaving money on the table that you could have for your own. It’s never too late for investors to take advantage of a retirement savings account and hopefully these resources offered by AIE will help educate investors about their options.”
The new “Saving For Retirement: What You Need To Know About 401(K), Traditional IRA and Roth IRA Plans” section of the AIE Web site features the following 10 top resources for consumers:
- Retirement Planning – 360 Degrees of Financial Literacy/American Institute of Certified Public Accountants.
- Invest in Your Future – CFP Board.
- Employment to Retirement – U.S. Securities and Exchange Commission’s Office of Investor Education and Advocacy.
- Maximize Your Retirement Investments – Investor Protection Trust.
- The IRA Rollover: 10 Tips to Making a Sound Decision – Financial Industry Regulatory Authority.
- Creating and Following a Real Financial Plan – American Association of Individual Investors.
- Essentials of a More Secure Retirement – CFA Institute.
- Retirement Research – Investment Company Institute.
- 10 Basic Steps: Invest Money to Reach Your Goals – National Endowment for Financial Education.
- Self-Directed IRAs and the Risk of Fraud – North American Securities Administrators Association.
For an overview of other investor education resources on the Web from AIE members, go to http://www.investoreducation.org.