Trump's Executive Order On Retirement Security: What To Know

Thank you my friend CW5 Jack Cardwell for sharing the unsurprising to me news, that President Donald Trump is interested in encouraging more people to invest for their retirement and reducing the regulations which work against that.
I began investing for my retirement in 1985 and by regular and periodically increasing took advantage of the fluctuations in the markets.

I concur with the authors assessment "So why aren’t we saving for retirement? There are many reasons: Many of us prioritize paying down debt at the expense of our savings. Then, there are the mounting expenses of those life hallmarks many of us have to overcome, things such as braces, first cars and college for our children. Still, others struggle to make it from paycheck to paycheck and don’t see a way to eke out the money to start saving.
One major reason many Americans don’t save, however, is lack of access to an employer-sponsored savings plan. Data shows that 35% of private-sector employees over the age of 22 don’t have access to a 401(k), including 41% of Millennials."

Good news is on the way and I hope Congress works to permanently lock in incentives to individuals and small businesses saving for retirement.
"At the end of August, President Trump signed an Executive Order called the Retirement Enhancement and Savings Act of 2018, designed to encourage small businesses to band together to offer their employees a way to save.
The Act eases the regulations currently in place against collaborating in this manner – it has historically been prohibited due to what was thought of as the potential for abuse – and makes it more inexpensive for small businesses to work together toward these ends. Finally, the Act includes incentives to lead employers toward including annuities (we’ll see how that works) in their plan offerings in a manner that will benefit all involved.
With these modifications, a much larger base of workers will be able to access the savings benefits that come with the most popular employee retirement plan benefit. Not only that, but they’ll also have access to the financial guidance that comes along with these plans, and such guidance can be a critically important feature of saving successfully for retirement.
Gaining an understanding of your financial situation is the key first step toward getting control of it, and getting the best professional insight to ensure that your understanding is clear is an important first investment. Uncomplicating the investment process, while making this insight available to as many Americans as possible, is an important step forward.
Additionally, the Act will enable businesses to join together in a manner that enlists them to be part of an education network to spread the importance of savings to an audience that has previously not been exposed to this message. Small business employees include the people who sell you wine, fix your car or your computer, do your books and own your favorite local restaurant.
While corporate employees take the quarterly plan updates as a rite of passage, and as such are exposed to ongoing reminders to keep up their savings, without this structure in place, these employees miss out on all of these reminders."

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Great read and information - thanks Jack.

Thanks CW5 Cardwell. Although, I wonder if all these fiscal knee jerk responses would still be necessary if congress could actually balance a budget and pay down the national debt.