Retirement Saving and Investing

Paper Summary:

This paper addresses issues Americans face when planning for retirement. Various problems are discussed, including the drawbacks of 401(k) savings plans, 403(b) savings and IRAs. The author includes a literature review, which concludes that most Americans do not save enough for a comfortable retirement. The writer includes reasons why Americans are not saving properly. Also considered is the declining value of the dollar.

Outline:
Americans Do Not Save
The Decreasing Dollar
Conclusion

From the Paper:

"Our national policy does not encourage investing or saving, as the tendency for spending is in vogue in top government and the national debit climbs higher than it ever has. "The Brookings Institution warns that if we do nothing for the next 10 year, problems will get so bad that balancing the budget would require a 40 percent plus cut in benefits and spending, or offsetting tax increases. They acknowledge that politically nothing will be done until a crisis explodes." (cited in Farrell, 2006) The value of the dollar continues to decline on the world market and it does affect the average American."

Sample of Sources Used:

• Farrell, P.B. (2006, July). Exploding the savings myth, Smartmoney, Marketwatch, Fox News.com, Retrieved August 14, 2006.
• Garrett, S., & Swift. M. (2004). Just give me the answers: expert advisors address your most pressing financial questions, Garrett Planning Network, Dearborn, MI: Dearborn Trade Publishing
• Lehmann, R. (2006). Fixed income watch: Retirement realities, Forbes; 177(6), p.190.
• Quinn, J.B., & Ehrenfeld, T. (2006). Getting into the game, Newsweek, 147(20), 69-72.
• Schwabb, C. (2006). Retirement Planning. Retrieved August 16, 2006, Reaching your retirement goals requires smart planning and a disciplined approach to saving and investing. Schwab has the resources to help you get there. [Online]. Web site: http://www.schwab.com/public/schwab /planning /retirement/saving/strategies.

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