It’s that time of year again.
February 21 – 25, 2022, is designated America Saves Week by the Consumer Federation of America (CFA), “a non-profit, pro-consumer organization of over 270 consumer education, advocacy, and cooperative members dedicated to advancing consumer interest.”
Introduced in 2007, America Saves Week has been an annual celebration “as well as a call to action for everyday Americans to commit to saving successfully.
“Through the support of thousands of participating organizations, together we encourage individuals to do a financial check-in that allows them to get a clear view of the finances, set savings goals, and create a plan to achieve them,” according to the initiative’s website.
During the week, the focus will be on the following themes:
Monday, February 21, 2022 – Save Automatically
Tuesday, February 22, 2022 – Save for the Unexpected
Wednesday, February 23, 2022 – Save to Retire
Thursday, February 24, 2022 – Save by Reducing Debt
Friday, February 25, 2022 – Save as a Family
Three days, in particular, should resonate with 401k advisors—Save for the Unexpected (emergency accounts), Save to Retire (401ks and similar DC-style plans) and Save by Reducing Debt (student loans, especially).
Day No. 3: Save to Retire
“When listening to our [savers] express why they haven’t saved for retirement, a resounding consensus is that with all the competing financial priorities they face in the present, it’s difficult to save for the future,” the organization notes. “To that, we say, ‘Your future self will thank you.’”
America Saves claims it uses the “principles of behavioral economics and social marketing to motivate, encourage and support everyday Americans to save money, reduce debt, build wealth and create better financial habits.
“America Saves encourages individuals and families to take the America Saves pledge, a tool that empowers them to commit to save successfully with a plan,” it concludes. “Thousands of non-profit, government and corporate organizations partner with America Saves through local, regional, statewide, and national campaigns both year-round and during America Saves Week.
AMERICA SAVES WEEK TOOLKITS AND MATERIALS CAN BE FOUND HERE
With more than 20 years serving financial markets, John Sullivan is the former editor-in-chief of Investment Advisor magazine and retirement editor of ThinkAdvisor.com. Sullivan is also the former editor of Boomer Market Advisor and Bank Advisor magazines, and has a background in the insurance and investment industries in addition to his journalism roots.
