By SUZANNE CROUCH
State Auditor

Suzanne Crouch

The average American spends about 20 years in retirement. The median retirement account balance across all U.S. households is $2,500. I don’t know about you, but $2,500 won’t be nearly enough to fund all I want to do in retirement.

This year, Oct. 18-24 is dedicated as National Save for Retirement Week — a national effort to raise public awareness about the importance of saving for retirement. The week provides an opportunity for employees to contemplate their personal retirement goals and determine if they are on target to reach them.

NS4RW began in 2006 when Senators Gordon Smith and Kent Conrad introduced the resolution establishing NS4RW. They wanted to elevate public knowledge about retirement savings and encourage employees to save and participate in employer-sponsored retirement plans.

One important question to ask yourself, no matter your age or income, is ‘will I be financially able to retire when I’m ready to stop working?’ If the answer is ‘probably not’ or ‘I don’t know,’ use this week as an opportunity to explore your options and start planning ahead. You work your whole life for the opportunity to retire, relax and have new adventures; don’t wait until it’s too late.