Planning for retirement early and well is critical to ensure that one’s post-retirement years are secure and comfortable – yet few Americans do it. Despite the wide availability of information about savings vehicles and financial calculators, relatively few people plan for their golden years until it’s too late to do much about it. Both public policymakers and private firms have worked to engage individuals to plan in the decades before their retirement, with only mixed success.
On November 12, the Retirement Security Project at the Brookings Institution hosted an event with the Consumer Financial Protection Bureau (CFPB) and Social Security Administration (SSA) to explore these issues. Carolyn W. Colvin, Social Security Acting Commissioner, and Richard Cordray, CFPB Director, gave keynote remarks. A panel of retirement security experts discussed efforts to improve retirement planning and what additional steps might make retirement planning achievable for the average American.
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