retirement

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Social Security
Social Security Turns 80, Loved by Americans of All Ages
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Social Security turns 80 on August 14, 2015 and has fulfilled the promise made by President Franklin D. Roosevelt when he signed it into law, that it would “protect the average citizen and his family against the loss of a job and against poverty-ridden old age.”  It has done just that.  In Utah alone, Social Security lifts 94,000 Utah retirees from poverty; 42 percent of the state’s population age 65 and older would have incomes below the poverty line without Social Security. [1]
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Do you hope to retire one day?  If you’re like most Utahns, the answer is a resounding yes.  AARP surveyed 1000 Utahns age 25-64, and 89 percent hope to retire from working completely.  (The survey, Making Retirement a Reality:  Helping Utahns Age 25-64 Save and Take Control of Their Future was conducted in December of 2014.)  Yet one in six of has less than $5000 in savings.  Given that the average lifespan is now nearly 80, it’s sobering to wonder how these people will have financial security in their retirement years.
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I’m sure you have seen it in the papers. Legislators are still dragging their feet to support Governor Herbert’s Health Utah plan which will provide health care for low-income Utahns who have no other affordable option for care. Thousands of Utahns are waiting to see what will happen with this decision; for those in the coverage gap it could literally be a life-or-death decision. We must let our elected officials know where the public stands. Click here to send a message to your legislators telling them it is time to do the right thing and bring our tax dollars back into the state to cover our fellow Utahns.
Utah Food Bank CEO Jim Yorgason
by Lee Benson of the Deseret News
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What’s quickly eating up a growing share of retirees’ money these days? Not health care, as you might expect, according to a new report by the National Center for Policy Analysis.
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