SSA: 6 Ways to Make Saving for Retirement Easier

I heartily endorse starting small as one of the steps to save for your future retirement. The Social Security Administration provides additional tips in this article. I am fortunate to be in a good retirement position now having saved early on and then gradually increased my savings along the way. 

"It’s America Saves Week! That means it’s a great time to see how you’re doing with your savings goals. Most working Americans know they need to save for retirement. Sometimes though, because retirement is far off in the future, we may delay saving. When everyday expenses routinely pop up, saving for a time that is years away in the future can seem less urgent.

We’re working with Social Security to help you consider what your retirement will look like. The following strategies can make it easier for you to save for retirement:

Start Small. Saving something is better than saving nothing – especially with compound interest. Just $5 per day could yield a return of $1 million in 48 years with the right investments. Consider saving as early as possible. Start with 1% and increase how much you save each year."

Continue reading the SSA's tips to save
https://blog.ssa.gov/6-ways-to-make-saving-for-retirement-easier/

6 Ways to Make Saving for Retirement Easier

 

Nexamp solar presentation available for replay

Town of Franklin, MA (@TOFranklinMA) tweeted at 11:01 AM on Thu, Aug 27, 2020:

Did you miss the NEXAMP Community Solar presentation?  Find it here https://t.co/0gmRTlSheW

Video link = https://youtu.be/Jnqi1ExZtSs

The post sharing the information in advance of the session

https://www.franklinmatters.org/2020/08/nexamp-shared-solar-farm-information.html

"When they receive paperwork at the hospital, they really look at it"

From the Milford Daily News, articles of interest for Franklin:

"Four years after the pilot program launched in the city, state Treasurer Deborah Goldberg visited Worcester earlier this month to promote the rollout of the now-statewide BabySteps college savings program.

The new initiative, which began on Jan. 1, provides a $50 contribution to a college savings plan for every new child born or adopted in the state. Parents just have to check a box on a form provided shortly after the baby’s birth or adoption.

The thinking behind the program is that starting out with a funded account will motivate families to keep putting in their own money as their child grows.

“The world is so complicated,” Goldberg said, while touring the maternity ward at UMass Memorial Medical Center on Belmont Street. There are plenty of financial pressures on parents today, she added, but “you don’t have to save that much for them to not go into debt” funding their child’s college education."

Continue reading the article online (subscription may be required)
https://www.milforddailynews.com/news/20200118/after-starting-in-worcester-babysteps-college-savings-program-launches-statewide

From the BabySteps Savings Plan page

"The BabySteps Savings Plan is the first universal educational savings program of its kind in Massachusetts. Launched in January of 2020, any child born or adopted in Massachusetts will be eligible for a free $50 deposit to their college savings account. Children will be able to receive their deposit until their first birthday, or one year from a child’s adoption. Any parent or guardian may begin this process as soon as a child is born.

The Office of the State Treasurer and Receiver General believes that common access to post-high school education and training is vital to economic mobility and stability in Massachusetts. Research shows that children with college savings accounts are three times more likely to attain higher education. With the 2020 expansion, BabySteps can reach every family in Massachusetts and encourage forward-thinking investments and savings."

Find out more about the Program  https://www.mass.gov/babysteps-savings-plan

BabySteps brochure  https://www.mass.gov/doc/babysteps-brochure/download

BabySteps Info Booklet  https://www.mass.gov/doc/babysteps-information-booklet/download

BabySteps Savings Plan is the first universal educational savings program of its kind in MA

MassBudget: Tending to the Nest Egg

Plan could help nonprofit workers build retirement security

MassBudget    Information.    Participation.  Massachusetts Budget and Policy Center    Democracy. May 17, 2018 Tending to the Nest Egg:  Plan could help nonprofit workers build retirement security A new, state-run plan could help more workers in the nonprofit sector build greater economic security when they retire. The Massachusetts Budget and Policy Center's new report, Tending to the Nest Egg: Plan could help nonprofit workers build retirement security, explores the barriers that workers - particularly those at small employers - face when saving for retirement and a Massachusetts plan that begins to address some of those barriers. Setting up and managing retirement plans can be too expensive for small employers. And when they do offer plans, the participants tend to pay higher fees than those at larger employers. In late 2017, Massachusetts launched a state-administered 401(k) plan - the Connecting Organizations to Retirement (CORE) Plan. Small nonprofits with 20 employees or fewer are able to join this plan for which the Office of the State Treasurer and Receiver General will take on the bulk of administrative responsibilities as plan sponsor. Through economies of scale the treasurer, as plan sponsor, is better equipped to obtain lower fees and expenses than in typical private plans. Even seemingly small fee differences can have a significant effect on retirees' savings. The chart below illustrates how differences in fees can affect long term returns under the CORE plan's upper- and lower-range fee structures compared with typical fee structures of comparable 401(k) plans. Massachusetts is one of the only states that is implementing this type of plan for nonprofit workers. Read the full report here. The Massachusetts Budget and Policy Center (MassBudget) produces policy research, analysis, and data-driven recommendations focused on improving the lives of low- and middle-income children and adults, strengthening our state's economy, and enhancing the quality of life in Massachusetts. MASSACHUSETTS BUDGET AND POLICY CENTER 15 COURT SQUARE, SUITE 700 BOSTON, MA 02108

Massachusetts Budget and Policy Center, 15 Court Square, Suite 700, Boston, MA 02108 Sent by nberger@massbudget.org in collaboration with Try it free today

"Drive Smart and Save"

Sent to you by Steve Sherlock via Google Reader:

"Drive Smart and Save"

via Commonwealth Conversations: Transportation by Klark Jessen on 6/30/11

The Patrick-Murray Administration today announced a new online resource that can help Massachusetts residents and visitors to save money on gas and travel. The "Drive Smart and Save" program offers tips for cost-friendly driving techniques that can save travelers money on fuel expenses, improve fuel economy by up to 33 percent, and help reduce carbon dioxide and other greenhouse gas emissions.

"Drive Smart and Save" supports GreenDOT, a comprehensive environmental responsibility and sustainability initiative of MassDOT.  "Drive Smart and Save" tips include:
•    Drive Less -- When your travel plans allow, try taking public transportation, walking, biking, or carpooling.
•    Set It at 60 -- Drive the posted speed limit, or even a bit less on the highway, to see increased fuel economy. Fuel consumption increases about 5 percent for every five miles per hour driven above 60 mph. And use your cruise control – keeping a steady speed will also save fuel.
•    Easy on the Pedals -- Avoid fast starts and hard stops to decrease fuel use. Travelers should join FAST LANE prior to hitting the roads this summer to avoid traffic at the tolls – this can save lots of time, as well as fuel.
•    Turn It Off -- Shut off your engine when you are stopped. Idling wastes gas and is bad for the environment.
•    Click the Cap - Make sure your gas cap is tight to prevent fuel evaporation and to improve air quality.
•    Check the Pressure - Proper tire pressure is safer, extends tire life, and can provide up to 3% mpg benefit per tank of fuel. Check your tire pressure monthly, and pump your tires up to the recommended level (which can usually be found on the sticker in your driver's door frame).
Additional ideas for fuel savings can be found at:  www.mass.gov/massdot/drivesmart

Things you can do from here:

• Subscribe to Commonwealth Conversations: Transportation using Google Reader
• Get started using Google Reader to easily keep up with all your favorite sites

Clipper Magazine

The Clipper Magazine delivered with your regular postal mail this week is full of good coupons for restaurants and other retail outlets in the area.

Maguro House is featured on the cover:

Inside, there is a page with Clipper Cash coupons for other local restaurants:





Grab your copy before it gets into the recycle pile.



If someone did toss it already, you can find a copy of this issue on line here: http://couponclipper.com/c-tb/www.pageturnpro.com/Clipper-Magazine/17841-015610210/index.html/zip/02038




Franklin, MA

Saving Money in Plain English

In our continuing series on learning, the folks at Common Craft have come up with a new video on saving money. They explain the difference between putting money in your piggy bank or into a savings bank.




Enjoy!

In the News - kids go green

By Joyce Kelly/Daily News staff

GHS

Posted Apr 03, 2008 @ 10:48 PM

---

FRANKLIN —

Frightened that an "environmental catastrophe" is looming after conducting research on global warming, Remington Middle School students launched a public awareness campaign yesterday on the benefits of using compact fluorescent lights.

To combat energy waste, Team Titans, a group of 50 sixth-grade Remington students, made arrangements with Franklin stores J.D. Daddario, Stop & Shop, and Aubuchon Hardware to keep recycling bins on the premises.

Now people can drop off their used compact fluorescent lights (CFLs), which are energy-efficient but contain a small amount of mercury, at the same place they purchase replacements.

If every American household replaced one incandescent light bulb with an Energy Star-qualified compact bulb for a year, enough energy would be saved to light more than 3 million homes and prevent greenhouse gas emissions equivalent to those of more than 800,000 cars, according to the U.S. Environmental Protection Agency's Web site.

Read the full article in the Milford Daily News