5 ways to inspire millennials to plan for retirement

first_imgThe last thing millennials want to think about when joining a company is saving for old age. What could seem more distant than retirement to fledgling employees just starting their careers?But with Social Security benefits guaranteed to scale back within the next 20 years, millennials need to now save more than ever to maintain a decent standard of living in their golden years. Wise business owners will take time to educate employees about planning for retirement. Further, they’ll offer robust savings options that attract driven, loyal team members who will help to establish a competitive market presence.The big three optionsThe 401k plan is the most traditional arrangement, and many companies match employees’ monthly 401k contributions. Millennials, and other employees, tend to favor this option, because it requires little effort to establish and they don’t have to consciously decide to put money into the account each month; an allotted amount is simply deducted from their take-home pay. Matching contributions are viewed as “free money,” so offering this option increases the odds of attracting and retaining top talent. continue reading » 15SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img