Mandating individual retirement savings

Article Abstract:

Reduced employer-sponsored retirement plans and funding problems with Social Security and other government programs demonstrate the need for individuals to use savings to prepare for retirement. Statistics indicate that retired people are not as well-off financially as is often assumed. Employment earnings are not a realistic prospect for many older people, so other source of retirement income need to be pursued. Some proposed reforms focus on mandatory savings, but for private programs to be effective, workers need to become much better informed about investments.

Laws, regulations and rules, Statistics, Retirement planning, Savings

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Social Security reform

Article Abstract:

Most countries with government pension plans are having difficulty with increased costs and deficits despite the significant differences in their Social Security plans. The solutions of increased funding or decreased benefits are politically or economically hazardous. The most feasible reform would be privatization with a government-supported minimum benefit for individuals whose contributions do not provide the minimum level. Annuities that are indexed for inflation would be purchased at retirement as opposed a lump sum disbursement.

Innovations, Social security, international

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Educating the public about personal finance: a call for action

Article Abstract:

There is a growing need for personal finance managers. Certified life underwriters and chartered financial consultants tend to specialize or fail to be objective, and most young adults do not know how to effectively manage their financial affairs. This lack limits an adult's capacity for assuring their financial security, and financial ignorance can have a high future cost.

Personal Financial Mgmt, Financial Management, Personal finance

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