This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Prudential Retirement Shares Insights On How Americans Can Increase Retirement Savings During ‘America Saves Week’

Prudential Retirement joins the annual America Saves Week campaign to encourage more Americans to make a commitment to increase savings over their lifetime with the goal of accumulating sufficient income in retirement. Prudential Retirement is a business unit of Prudential Financial Inc. (NYSE:PRU).

Established in 2007, America Saves Week is an annual week-long event coordinated by the America Savings Education Council and the Consumer Federation of America during which more than 2,000 organizations across the U.S. work together to promote good savings behavior.

“It’s never too late to begin. The sooner you start contributing to your employer-sponsored retirement plan or IRA, the better your chances for building a significant savings cushion,” says Christine Marcks, president of Prudential Retirement. “Once you start saving, it becomes even easier to make small increases with your savings allocation. The impact is often barely noticeable in your paycheck, but could really make a big impact on your retirement savings over time.”

For Americans who have not started saving, Marcks suggests other tips. Consider enrolling in your company’s retirement plan right away or open an IRA. Once enrolled, Marcks encourages people to manage risk by diversifying their savings over a well-chosen mix of investments. Americans should also check with their employer to see if there is an option in the plan that provides guaranteed income for life during retirement—essentially transforming your savings into a retirement income stream .

According to the Center for Retirement Research at Boston College’s 2012 National Retirement Risk Index, the number of workers at risk of being unable to maintain their pre-retirement standard of living once they retire has risen over 20 percent from 44 percent in 2007 to 53 percent in 2010.

There are several vehicles that Americans can use to save for retirement, including workplace retirement plans and personal investment and savings accounts. However in recent years, increasing longevity, market uncertainty and low interest rates have placed many Americans at risk of outliving their retirement income.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,214.42 -10.15 -0.06%
S&P 500 2,110.74 -3.12 -0.15%
NASDAQ 4,987.89 +20.7530 0.42%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs