Student Retirement Research Paper

1314 Words 5 Pages
Everyone knows someone who is retirement age of 65 or older, they may even be a grandparent or a close family friend. A majority of these people have worked very(exceptionally) hard and deserve what they have (been working for when retirement years begin.) waiting for them when they retire. While most people who reach the age of 65 are ready to settle down, some of them just simply can’t save(due to their inability to practice saving habits in their early life) because of their savings habits in their lives. Most college students don 't realize that their well being(in later life is based on) in retirement is based on what they save while they are between the age of 20-30. In an interview with Michael Armour, a financial planner, he simply …show more content…
If a student was to walk into on of the financial planning places and sit down with a consultant, they would draw a plan that 's very simple. Financial Planning in Hutchinson, KS recommends that someone coming in has some kind of savings developed before they start a retirement savings. (Armour) They also require that their clients are financially stable.(Armour) What this means is clients coming in need to be established and have budgeting skills instead of living paycheck to paycheck. By having these skills when they walk in I makes the process very easy for both parties involved. Another way for young people to prepare themselves for the future is taking advantage of employers retirement plans. The average college student probably hasn 't had the chance to take advantage of one of these plans. I When they get a job in their field it is highly recommended they take advantage of these programs. Most employers have some very good retirement plans available. At some places the employer will match every dollar the employee put in with 50 cents and sometimes even a dollar. While this type of retirement plan is becoming harder to find, a lot of places still have or recommend a 401k type of account. With using a work placed 401k plan only experts say that there will still not be enough returns produced for clients

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