The Facts on Saving and Investing Campaign Ballpark EstimateWhat It Is
Developed by the American Savings Education Council (ASEC), the Ballpark Estimate is an easy-to-use, single-page worksheet that helps individuals calculate what they will need to save each year for their retirement. The SEC would like to see every American fill out the Ballpark Estimate during Saving and Investing Education Week. How It Works
Recent surveys show that only one-third of all U.S. workers today have taken steps to figure out how much they should save to live comfortably when they retire. Of those who've tried to do the math, one quarter still have not figured out much they'll need to set aside each year. Those who haven't tried often claim that the process is too complicated. The Ballpark Estimate simplifies some of the more complex issues in retirement planning, such as projected Social Security benefits and earnings assumptions on savings. Users need only know their current annual gross income, the amount they expect to receive each year in retirement from employer pension plans, and the amount of their current savings (including money accumulated in a 401(k), IRA, or similar retirement plan) to fill out the form. The Ballpark Estimate then guides users through six straightforward calculations. What You Can Do
Make a commitment to distribute the Ballpark Estimate to as many people as possible. And encourage them to fill it out. Here are some ideas on how: - Community Outreach: Provide copies to your employees, clients, and professional colleagues. Suggest to companies and state agencies that they hand out the Ballpark Estimate to their employees. Include copies in your organization's mailings and newsletters. Ask your local newspaper to publish the Ballpark Estimate with an article that describes what it is and why it's important.
- Seminars: Organize seminars on filling out the Ballpark Estimate seminar. Your seminars could be a stand-alone community service event, or it could be part of a larger program, such as an investors' town meeting. Consider running a workshop at local high schools.
Who to Contact
To order copies of the Ballpark Estimate and learn more, call or write ASEC: 2121 K Street, NW, Suite 600
Washington, DC 20037-1896
Phone: (202) 775-9130
Fax: (202) 775-6312 Contact: Don Blandin, President
|
