Telescoping Retirement Accounts
It’s very hard to save for retirement years from now, and accounts seem very complex. Yet the earlier you start, the better off you’ll be. We need to help Americans simplify their financial lives by making retirement savings self-activating. It’s a lot easier to save money if it’s automatically being done for you.
Problems to be Solved
- People want to do more to save for retirement but don’t know how
- Saving immediately is hard, but defining a time in the future to automatically start and increase that saving is much easier
As President, I will…
- Create a tax-free investment vehicle into which people can opt to automatically have a portion of their income directed, and allow them to define automatic increases to their contribution (either based on increases to their reported income, or at regular intervals)