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Communication in Economics - Assignment Example

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I write to give my opinion on the above topic as discussed in the Wall Street Journal, which argued that Americans have more savings and a better retirement outlook than most people think. This is absolutely misleading to the public, based on the reality that only a few of these…
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Communication in Economics
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To the editor, Wall Street Journal Ref: A response to a topic recently discussed in your journal, “Some Americans Can Retire Comfortably, But Many Wont”
I write to give my opinion on the above topic as discussed in the Wall Street Journal, which argued that Americans have more savings and a better retirement outlook than most people think. This is absolutely misleading to the public, based on the reality that only a few of these citizens see a bright future after retirement. One of the most agonizing conversations that retirement planners confess they have with their customers is the one where such planners tell customers that they do not qualify or are not yet ready to retire because their savings are not enough.
From the conversations realized from planners, most people realize very quickly that the way they lead their lives today may be different from the way they will live in retirement. The truth is that many of them can make it a little better, though they cannot catch up due to the limited amount of savings they have. In fact, some will have to put on sale their home and shift to a cheaper place because they can’t retire in homes they have been living for years (Skinner, 2007).
With reference to the above reasons, it is better that the working class consider increasing their savings and limit their expenses. This seems simple but unpopular, but people have to seek for better tactics to make adjustments on their earnings. Alternatively, they can try to maximize their social security benefits to cater for their retirement comfort.
Work Cited
Skinner, Jonathan. Are you sure youre saving enough for retirement?. No. w12981. National Bureau of Economic Research, 2007. Read More
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