Benefits Of Saving For Retirement Essay

1214 Words Jan 24th, 2016 null Page
"Fewer than one in four Americans have enough money in their savings account to cover at least six months of expenses, enough to help cushion the blow of a job loss, medical emergency or some other unexpected event, according to the survey of 1,000 adults. Meanwhile, 50% of those surveyed have less than a three-month cushion and 27% had no savings at all.". Saving should be one of the most important things in a persons life at any age or any income. First it is important that people are prepared for unexpected costs. Second people should learn to save first, spend second. Lastly saving for retirement is most important. Saving at any age or any income, will provide for financial security in the future.

Life can have a lot of unexpected and unwanted expenses that can be hard to deal with. Not having money to fall back on can be detrimental. To begin, losing a job or being laid off can be very unexpected and the best way to prepare is to have a savings account. If the savings are there, being laid off will not be as bad if there are no savings because money will be available until another job is found. People need to save for events like this. When there are no savings, more things in life are going to fall apart when getting laid off. Examples of this would be, relationships or marriage breakdown, as well as the well-being and mental health of the person who is laid off and didn 't have any savings for this rough time in their life. Another reason to save is for…

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