Young and Worried About Retirement

By Mike Hall On October 7, 2010 (2:50 pm) In Economy, Legislation & Politic

Melissa, a college senior, says she never thought about retirement until she saw her parents dip into their retirement savings to help make ends meet after her father lost his job. Now it’s one of her top worries.

Melissa told her story at Retirement USA, where an online survey finds that 83 percent of respondents say younger workers will fare worse in retirement than current retirees. There are some real good reasons for this pessimism, too.

First off, Social Security—which is even more vital than ever for younger workers, most of whom don’t participate in any kind of retirement plan—is under attack. Even though Social Security does not contribute a cent to the nation’s budget deficit, the federal budget deficit commission has it in their sights and there are reports...

Article taken from AFL-CIO NOW BLOG - http://blog.aflcio.org
URL to article: http://blog.aflcio.org/2010/10/07/young-and-worried-about-retirement/