Is saving for retirement important?

Ensuring financial security in retirement is one of the greatest challenges facing American workers today. Concern regarding the long term viability of Social Security continues to grow, and Americans are looking for new ways to secure their financial future. The following trends show the importance of saving for retirement.

• Individuals are changing jobs more frequently, which might reduce their chance of acquiring great reserves in company pension plans.
• Many new entrepreneurs striking out on their own cannot offer retirement options for themselves or to their employees until the company is more financially secure.
• Social Security is no longer seen as the answer to retirement funding.

Individuals need to take responsibility to build their retirement nest egg. The Roth IRA allows individuals to invest after-tax dollars today, and let the assets grow with the potential to distribute the principal and earnings tax- and penalty-free during retirement.