Americans want redefined retirement – Newsweek star-news.press/wp

The new research found that 80 percent of Americans believe that Trump Administration and Congress should give priority to legislation to help people plan and save for a safe retirement.

Blackrock study, which researched 1,000 registered voters between 11. and 15. January, only 28 percent believe that the United States Retirement system gives you Americans and resources to save for a safe life. Only 18 percent of confidently have enough money to see their after working year, while 51 percent more worried about running out of money than dying.

The American landscape landscape changed significantly in recent years, and many Americans are fighting with savings for later in life. In 2023 Research Center Report, he found that they were around one in five Americans aged 65 and older still employed in 2023. years – almost twice over 35 years. Growing costs, inflation eaten on the purchase of power, and longer expectations are all the reasons why it is harder to pull it now than ever before.

“Today’s workers are struggling to save to retire in the economy, a lightweight market and high costs of everyday life – and many still return their financial substrate in Pandemia and its after that,” said the study. “

Current picture

The setting of each community for the wiring improvement (secure) increase in the increase for 2019. year and secure 2.0 Law from 2022. years are the laws designed to help more Americans for retirement savings. Were part of the Comprehensive Law on Consumption and Tax Extension, which President Donald Trump signed on 20. December 2019. years, During the first term.

Safe 2.0 Law from 2022. It is built on the original safe act for additional improvement in retirement savings. It sets the required minimum distribution (RMD) to 73 years, allowing more time to tax growth. The law also shortens the need for part-time working hours for access to 401 (k) plans, allows contributions to the Roth employer and introduces external-without extraordinary withdrawal up to $ 1,000 per year.

How can retirement can be redefined?

Although this recent legislation tried to help Americans strengthen their later life savings, experts told Newsweek there are a variety of ways to help the government more.

Small business incentives

SCOTT BUFFINGTON said, Vice President and General Manager in Paychex Newsweek Yes with 50 percent of the US labor force employed in small enterprises, these employers should be motivated to help their employees in pension savings.

“The government should continue to facilitate small businesses to offer a retirement solution, which is rejected by the payment list,” he said. “Studies have shown that most people do not save for a pension outside the plan in the workplace, and most small businesses still not offer the plan of their employees.”

“It is critical to motivate small employers to offer. For example, investing in small employers (ascent) is a bipartizan legislation that would enable microsized jobs with 1-9 employees who will implement full-time consumers 2.0,” Buffington said. “This would help these smaller companies gain incentives similar to those who currently receive the larger company.”

Looking outside America

Carson McLean, the founder of the altruist management wealth, he said that the United States should look at other countries to help Americans embark on before pensions.

“Australia Manner contributes to retirement employees with exclusion flexibility. This little behavior that creates saving savings that is default – had a deep effect,” he said. “Australians are now holding over $ 150 000 AUD per capita in pension savings.”

Central retirement savings held in America is $ 38,176, alleged by Vanguard Management Asset.

“When the pensions in the movement 401 (k) s, we transferred a complex burden on individual workers,” McLean said. “Many are never enrolled. They have been contributed to or remain in the years in low growth options. Auto-enrollment and defaults have helped, but they are just important whether people actually contribute.”

“If we want to improve pensions in America, we need systems that lead people to success, and still preserving personal choice,” McLean said.