Hawaii is home to more than 154,000 family caregivers and that number will rise in the next decade. Are you prepared for retirement or long-term care?
It’s a topic that’s the focus of a proposed bill that has many talking this legislative session and one of those interested in the bill has come a long way to express his thoughts on it.
This morning on Wake up 2day, Eric Schneidewind, AARP National President joined us in studio to the measure.
Besides speaking at AARP Hawaii’s Caregiver Conference on Saturday, he’s also in Hawaii to talk with business groups and lawmakers about the bill will help about 216,000 workers to be able to save for retirement. That’s about half of Hawaii’s private-sector workers who don’t have a 401K or any way to save at work. Nationally, the average household has saved only $2,500 for retirement and households near retirement have only $14,500 in savings. It’s not nearly enough. If people are going to save, research shows it has to be easy and simple. That’s why the best way to save is through payroll deduction. Workers are 15 times more likely to save money if it comes out of their paychecks before they have a chance to spend it. The bill would take the first step toward creating an easy way for workers to save for retirement because without retirement savings, people are not going to be prepared for future life needs like health care and caregiving, which is at the very center of our system of long term care.
For more information, go to: AARP.org/Caregiving.