Wisdom to Wealth- Tuesday, July 27

Published: Jul. 27, 2021 at 5:54 PM EDT
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John Halterman: People ask me all the time, you know, do you think there’s a retirement crisis going on in America? And I absolutely think there is. You know, there’s no doubt about it. The World War II generation were tremendous savers and, of course, the baby boomers were the ones that really kicked off the high level of success. But what we’re seeing right now is that we’re seeing people who don’t have pensions and at the same time, because they switch jobs so many times that they’re not amassing huge amounts of money in their 401k. Now, don’t get me wrong, the current generation makes more money than ever before, but they’re not doing a great job of amassing money for their retirement. And so, there’s definitely things that need to be changed and that’s why The Secure Act 2, which is being proposed, is going to start talking about lots of changes like automatic enrollments in the 401ks. Increasing the RMD rates. There’s going to be lots of changes coming up. And so, what I tell people is, pay attention or for more answers, call or visit our website today.

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