Before we get into how you should save more for retirement, let’s go over some basic information. A 401(k) plan is an arrangement (that is deferred) under where an employee is able to have a specified amount of their paycheck entered into a savings retirement plan. This was created in hopes to eliminate discrimination between higher paid employees and employees who do not get paid as much.

According to recent studies from the U.S. Department of Labor there are over 600,000 savings plans (defined contribution) in the U.S. that are covering 88 million total people. However, employers who offer a retirement savings plan covers only 51% of Americans. With that being said, there are 5 million small businesses that are not offering benefits for retirement for their employees.

It’s not that these small businesses don’t care about their employees. They are just thinking about the cost and how complicated it would be to implement these plans into their business. If a company has 6 employees who each make $50,000 a year, the employer would have to come up with $9,000 a year (plus administration costs) for the plan. Although it is tax deductible, it’s often difficult for small businesses to come up with that cash.

With how little Americans are saving for retirement and small businesses unable to contribute, it’s important to look to Congress to help expand government programs to help and encourage more Americans to save for retirement and invest in savings plans.

Of course it’s not easy to have a worry-free retirement when you’re retirement nest-egg is still invested on the risky stock market. On-going fees and commissions along with the risk and corruption that exists within the financial industry could cost you a great deal of your retirement savings…money you can’t make up if you’re already in retirement and not working. Get educated on the exclusive Crash Proof Retirement System- guaranteed to protect your principle so when the market crashes, your accounts satay event, but can also be designed to generate income and take advantage of market increases. Start your education today by calling 1-800-722-9728 or go to and register to attend a no-cost/no-obligation educational evet with the creator of the proprietary Crash Proof Retirement System: Phil Cannella.

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