Femme Power

In the midst of a global financial crisis, one can never be so sure what lies ahead.    While jobs and other income sources around the world may be available to many of us now, it is best to arm ourselves with savings that would keep us afloat when we retire.

But in the spate of rising costs of living anywhere in the world, setting aside money for retirement is getting tougher than ever.

Addressing this concern, Nancy Pelosi, Speaker of the US House of Representatives recently unveiled a comprehensive plan for retirement security that will empower America’s middle class families to have guaranteed savings after long years of toil.

Pelosi, the first woman in American history to become a Democratic Leader in the House of representatives, revealed Amerisave will expand and improve existing retirement accounts, ensure pension fairness and build retirement security for nearly 100 million Americans.   It will expand opportunities to save by establishing tax credits to employers who offer such a savings plan so small businesses will have resources to set up their employees’ retirement accounts.   It also encourages employers to automatically enroll their employees to the plan.

Furthermore, important reforms will be made to protect individuals from unfair dumping of pension plans due to bankruptcy.

The road ahead is quite uphill not only for the Americans but for everyone around us.   We all need guaranteed retirement savings that are secure enough not to go up in smoke by the time we need them.

As important as the will to save today is a plan for a retirement security that’s as smart, well-meaning and safe as possible.

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