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VIDEO from Medialink and AARP: Mission Retirement
    NEW YORK, May 1 /PRNewswire/ -- AARP just released a retirement
planning video, Mission Retirement, to show Americans the importance of
saving for the future. Just about everyone's mission is to retire someday.
It isn't impossible, but it will take work. According to AARP, there are
big holes in the security net of pensions, therefore, it's everyone's
responsibility to participate in work-based plans, like 401(k)s and cash
balance plans. Workers need to take full advantage of the free money their
employer offers and participate up to the available match-if not more.
    (See video from AARP at:
http://link.brightcove.com/services/player/bcpid824493201)
    Mission Retirement has five segments that emphasize everyone's personal
responsibility to save for retirement, the benefits of tax-advantaged
savings opportunities, the importance of making the right retirement
decisions, and options for managing your assets in retirement. In the first
segment, an employee decides to enroll in his company's 401(k) because he
understood the importance of paying himself first through an automatic

contribution and realized the power of compound interest and tax deferrals.
    Today, the vast majority of workers are unprepared for retirement
because they have not set realistic savings goals. In the second video
segment, experts explain how to estimate how much we should be saving for
retirement. One rule of thumb is to have a nest egg of 20 times your final
salary. According to Dallas Salisbury of the Employee Benefit Research
Institute, you'll need to save 15 percent of your salary over 40 years to
reach that goal.
    No one can fully predict the future, but we still can prepare for the
unexpected -- like getting downsized from a job or change in health. Gil,
in the third segment, never expected he would be looking for a job at 60,
but that's what happened when his company downsized. He talks to AARP about
how he wisely didn't touch his retirement next egg, but instead went back
to work.
    The Crabbs, featured in segment four, had about $120,000 saved in a
company plan when they retired. They learned the hard way how important it
is to carefully manage their retirement money. In short order, their nest
egg had shrunk to $20,000 and at 68 they are looking for work. In this
segment, AARP offers tips on spending money in retirement.
    Good news, bad news: we are living longer. In the final segment AARP
offers steps, you can take so you don't outlive your savings. Learn how
life annuities could bring you a steady stream of income, if you very
carefully shop for a product with low fees and costs from a highly rated
organization.
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