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Calling All Bloggers – Let’s Increase America’s Savings Rate in November!

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I’m sure that I’m not alone in the financial planning world with my concern about the rate of saving toward retirement across this great land.  Recent figures have shown that we Americans are doing a little bit better of late, at a 5% savings rate versus around 1% back in 2005 – but this is a dismal figure when you consider how most folks are coming up short when they want to retire.  Rather than sitting by idly and wringing my hands, I thought maybe something could be done to encourage an increase in savings – if only by 1%, this can be a significant step for lots of folks.  And now, in November, is the perfect time to do this, as most corporations are going through the annual benefit election cycle, so the 401(k) (or 403(b), 457, or other savings plan) is right at the forefront for many folks.

I’m proposing that all financially-oriented bloggers sharpen up their electronic pencils and write a column to encourage folks to increase their 401(k) savings by at least 1% more than last year.  I’d suggest taking a new look at this situation, perhaps suggesting ways that people can free up money to devote toward savings, for example.  I know you folks have a lot of great ideas, so don’t let my lame suggestions limit you!

In order to keep it oriented toward the benefits enrollment period for many companies, we should probably produce these articles between now and Thanksgiving.  Of course, most folks can make an increase to savings at any time, but while employees are looking at benefit options is a good time to strike while the iron’s hot.  If you’re interested in joining this action, send me a note at jim@blankenshipfinancial.com and let me know when you’ve posted your article.  I’ll keep a list of all of the articles with links on a blog post at my blog – this way anyone who’s looking for ideas on how to increase savings can find a multitude of ways to do so.

Thanks in advance for your help!

jb

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11 Comments

  1. [...] We have several more bloggers who are going to put their posts up soon. See the original post for details on how to join the action: Calling All Bloggers! [...]

  2. [...] Listed below are all of the articles that I’ve been notified about so far – 22 23 in all! These folks are very smart, and have shared some great ideas. You owe it to yourself to check it out, and then take action!  Add that 1% to your 401(k) or IRA!  If you’re a blogger, see the original post for details on how to join the action: Calling All Bloggers! [...]

  3. [...] roster of bloggers that have responded to Jim’s call to action is impressive, and their ideas are well worth reviewing.  One concrete objective of many of the [...]

  4. [...] The list below includes a boatload of ideas that you can use to help you with this increase to savings. I’ve heard from several more bloggers who are going to put their posts up soon. If you’re a blogger, see the original post for details on how to join the action: Calling All Bloggers! [...]

  5. [...] The list below includes a boatload of ideas that you can use to help you with this increase to savings.  I’ve heard from several more bloggers who are going to put their posts up soon. If you’re a blogger, see the original post for details on how to join the action: Calling All Bloggers! [...]

  6. [...] Blankenship’s post, Let’s Increase America’s Savings Rate in November!, asks for recomendations for increasing the saving rate by 100 basis points (for example, [...]

  7. [...] A dozen bloggers have now published articles encouraging all Americans to commit at least 1% more to retirement savings this year. We have several more bloggers who are going to put their posts up soon. See the original post for details on how to join the action: Calling All Bloggers! [...]

  8. [...] Many thanks to all of the bloggers who have been publishing articles encouraging all Americans to commit at least 1% more to retirement savings this year. We have several more bloggers who are going to put their posts up soon. See the original post for details on how to join the action: Calling All Bloggers! [...]

  9. [...] Let’s Increase America’s Savings Rate in November! by Robert Wasilewski – “Recent figures have shown that we Americans are doing a little bit better of late, at a 5% savings rate versus around 1% back in 2005 – but this is a dismal figure when you consider how most folks are coming up short when they want to retire.” [...]

  10. [...] the Garrett Planning Network and the author of one of my favorite blogs is currently starting a “save 1% more” movement to encourage people to bump up their savings rates by just [...]

  11. [...] We’re now up to four posts published in support of the movement to encourage all Americans to commit at least 1% more to retirement savings this year as they make their benefit elections.  See the original post for details on how to join the action: Calling All Bloggers! [...]