Building Partnerships to Increase Retirement Planning

Proceedings of Association for Financial Counseling and Planning Education, 1998

By:
Virginia W. Junk1 & Linda Kirk Fox, University of Idaho
E. Thomas Garman, Virginia Tech.
Barbara O’Neill, Rutgers University
Ronald Hurt, MetLife


A major part of securing a person’s financial future is planning for retirement. Financial planners and policy makers have raised concerns about the financial preparedness of these future retirees. 

Slow economic growth, a shift from job availability in the industrial sector to the service sector, changing pension plans, and decreasing employer paternalism all affect retirement planning. Yet, an overwhelming majority of Americans neither prepares nor saves and invests adequately for retirement and old age.people to develop sound lifelong financial planning.

Experts from industry, education, extension, and research need to interact more and share successes in fostering and advocating retirement planning.  This is partnering, and it should include those pictured in the triad in Figure 1, as well as other partners.  The goal is to facilitate more efforts to help Americans successfully plan their retirements.

 

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