The Retirement Piggy Bank-Saving for Retirement

Joshua Gotbaum Guest Scholar in the Economic Studies Program at The Brookings Institution, and Chair of the Maryland Small Business Retirement Security Board said the retirement industry has spent decades largely sidestepping perhaps the biggest question most Americans have about retirement planning: how much of their earnings should they be saving? He cited research from the Employee Benefits Research Institute that recommends saving at least 10% of each paycheck. He stressed that Millennials should begin saving in earnest as soon as they enter the workforce.