News | 01.20.22
Senators Want Workers to Get More Financial Advice
The Senate Special Committee on Aging held a hearing last week to address financial literacy. Gerri Walsh, senior vice president of investor education at FINRA, told the committee that one concern is balancing the need for retirement income with need for ready access to cash. “Some people have a pension," she said. "Many Americans rely on Social Security. But if you have accumulated savings in a 401(k) or an IRA, you need to think about what to do with that." The committee also release a bipartisan financial literacy report, which stated that a lack of financial literacy is one of the major obstacles to Americans’ post-retirement financial security.
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