Why Obama, Romney Threaten Your Retirement
Retirement security seems to be an issue that the candidates running for president are running away from. But they shouldn’t, according to growing number of executives in the financial services industry.
In fact, executives and others are demanding that President Barack Obama and Gov. Mitt Romney, the presumptive Republican candidate, lay out their respective positions on various retirement security issues, such as Social Security, automatic IRAs and the like.
Earlier this month, for instance, Robert Reynolds, the chief executive officer of Putnam Investments, asked in no uncertain terms that Obama and Romney endorse the tax incentives now in place for retirement saving programs such as the 401(k) and start debating how to make Social Security solvent.
In short, Reynolds called on the candidates from both political parties to recognize retirement security as not only a vital national challenge, but a key element in solving our nation’s debt and deficit crisis over the long term. “If we solve the retirement challenge it would have a huge benefit for all Americans,” Reynolds said in an interview. “If someone’s future is secure, it allows them to do so much more with their lives.”
Weeks later, we’re still waiting.