Saving for the future is a vital part of ensuring a secure retirement. American Savings Education Council and America Saves coordinate the annual America Saves Week.
This year, America Saves Week begins on Feb. 27, but people across the country are striving to save every day.
Started in 2007, the week is an annual opportunity for organizations to promote good savings behavior and a chance for individuals to assess their own saving status.
For years, Social Security has collaborated with America Saves Week to promote the shared mission of helping millions of people save for their future.
The 2016 annual America Saves Week survey assessing national household savings revealed:
Just two out of every five U.S. households report good or excellent progress in meeting their savings needs.
About half (52 percent) are saving enough for a retirement with a desirable standard of living.
Only 43 percent have automatic savings outside of work.
More men (74 percent) report progress with saving than do women (67 percent).
Those with a savings plan with specific goals (55 percent of the public) are making much more savings progress than those without a plan (23 percent).
It is never too early to start planning for the future. Set a goal, make a plan, and save automatically. Savers with a plan are twice as likely to save successfully.
Pledge to save for America Saves Week at www.americasaves.org. Share what you are saving for using the hashtag #ImSavingFor.
Those who do not have a retirement savings account offered by their employer should visit www.myRA.gov.
The website offers a retirement savings account from the Department of the Treasury designed to help put aside money for retirement.
People can invest in the fund according to their budget, putting them in control of their financial prospects. Social Security’s “People like Me” website has tailor-made information for preparing for the future.
The U.S. is a richly diverse country made up of countless backgrounds, ethnicities and nationalities, yet we all want the same thing — a secure future. See many of the diverse people we serve at www.socialsecurity.gov/people.
Younger people need to know that the earlier they start saving, the more their money can grow.
Our website for young workers at www.socialsecurity.gov/people/youngpeople/saving.html has many resources that can help them secure today and tomorrow.
Veterans and wounded warriors, as well as their Families, sometimes face unique obstacles when saving for their future.
Our website has life-changing information at www.socialsecurity.gov/people/veterans. After more than 80 years of success, we know that Social Security will always be there for you.
Securing today and tomorrow will always be Social Security’s priority.