36 THE QUEENS COURIER • SENIOR LIVING • MAY 27, 2021 FOR BREAKING NEWS VISIT WWW.QNS.COM
senior living
First steps in retirement planning for all Americans
Even if you’re young, newly employed
or haven’t yet started to save for retirement,
many
financial
professionals
a g r e e
p l an -
ning is
key to
achieving
a
sense of
security
for your future. But a new survey shows
that if you’re a fi rst- or second-generation
American, a woman, African American
or Hispanic employee, you may feel disconnected
from the
fi nancial services
industry and its
benefi ts.
One reason
is that you
may be less
likely to have
opportunities
to save
for retirement
through
your workplace
- or you may feel the fi nancial services
industry is not geared toward serving the
needs of you or your community.
Th e good news? Th e fi nancial services
industry and many employers are working
to off er greater accessibility for all
employees trying to save for retirement
- even with a moderate income - and
are trying to make it easier for all their
employees to be proactive about fi nancial
planning, no matter when or where
they begin.
Th e new survey conducted by Harris
Poll for Empower Retirement shows that
women and people of color feel underrepresented
when it comes to retirement saving.
In fact, 70 percent of all respondents
said they agreed with
the statement: “Retirement
planning is a luxury that is
not aff orded to all types of
Americans.” But the truth
is that retirement planning
is possible, no matter where
or when you start. And it
can make a huge diff erence
for your fi nancial situation
down the road.
Here are tips and resources
to help you get started on your
retirement planning journey.
Start now: No matter where
you are in your career, starting
with small savings now can make
a huge diff erence down the road - and
those savings can accumulate and grow
over time.
Contact your HR department:
Especially if you’re unsure what your
employer off ers for retirement planning,
asking questions is a great place to start.
Don’t be afraid to ask for explanations of
unclear terms or services.
Match those funds: Some employers
will match your 401(k) contributions up
to a certain percentage point, so you’ll get
the full benefi t of those funds by making
sure you contribute at least that amount.
Consult a fi nancial planner: Ask if
your employee benefi ts include the services
of a fi nancial planner. Many employers
off er consultations with a fi nancial professional
free of charge, to help with your
planning eff orts.
Personalize your savings options: Ask
about opting into a managed account for
your 401(k). Th is will provide you with a
personalized strategy for your funds based
on factors including your age, amount
saved, timeline and savings goals - even if
you’re starting with a small amount.
Retirement planning and saving can
now benefi t everyone, and can help
improve your future fi nancial outlook, no
matter where you’re starting from today.
— Courtesy of BPT
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HAPPY
NURSING
HOME WEEK
to
N
Re
to all New York
Nursing Home
Residents & Staff!
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from surgery or illness with postacute
rehabilitation and skilled
nursing care than right now.
Reach out to us today
for more information.
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