At Work

Just how irresponsible is the average person? Can we only plan for our retirement if government intervenes?

This kind of publicity and advocacy drives me nuts. It should also be insulting to the target audience. What it really says is that Americans working for small business are clueless. Of course “they have a way to save for retirement;” they have several ways, including setting up a automatic saving plan if they so choose. 

They have two types of IRAs, they have the MyRa set up by the Obama administration as the retirement salvation for lower income workers. They can invest periodically in a brokerage account, they can tuck cash under the mattress if they so choose. 

Instead of Americans exercising individual responsibility, the various states feel compelled to set up yet more savings plans on their own, adding a new burden to small business, creating yet another bureaucratcy and requiring workers to opt out of saving. 

Is it time we just admit that many Americans simply can’t function without government holding their hand? 

Source: AARP Newsletter


2 replies »

  1. The government’s failing here is not by not offering enough ways to save. Government’s failure is the lack of fiscal education in schools. The schools barely teach basic math and they certain do not teach about personal finance. The government promotes policies for irresponsible spending to drive the economy. The government encourages taking on more debt, mortgages and student loans, more than one can pay back. So why would the government want you to save? The government also leads by example. Just look at our crushing national debt and the irresponsibility that goes along with that.


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