Talking Points

Only 19%
… of Americans have increased the amount they contribute to their retirement savings in the past year, Bankrate.com found through a survey. In addition, 14% are saving less, and 55% save the same amount. Ten percent have contributed nothing in the past two years, the highest level since Bankrate.com started this poll in 2011.

Social Security Vanishing
Just under one-third of Americans (30%) think Social Security is highly unlikely to be there for them when they need it, but 52% think it is somewhat likely to still be there. Only 18% think Social Security is extremely likely to still be intact when they retire. The vast majority (79%) expect Social Security will be unable to take care of their needs.

Source: Northwestern Mutual, “Planning and Progress Study—2015”

HSAs on the Rise
The average health-savings-account (HSA) balance increased 37% in 2014, from $1,408 to $1,933, according to the Employee Benefit Research Institute (EBRI).

Looking Forward to College
More parents have crafted a financial plan to reach their college savings goals this year. Sixty-two percent cite having a plan that guides their saving for college costs, up from 59% in 2014. Parents are also using 529 plans at a greater rate—39%, up from 32% in 2014.

Source: Fidelity Investments,“9th Annual College Savings Indicator”

“Progress is impossible without change, and those who cannot change their minds cannot change anything.” – George Bernard Shaw