It is of great concern that 66% of millennials have nothing saved for retirement. Many millennials are focused on repaying student loans and starting their families. To yield the most for retirement, millennials must begin saving in their thirties to have enough to live on in retirement. This means that at least two decades are required to save adequately. Employees are increasingly more responsible for their own retirement income since fewer employers are offering pensions. Personal savings, 401k’s, and social security benefits will likely be part of the millennials’ retirement income package. Millennials may discover it is a necessity work in their senior years and retire much later than their parents did. For more information:
http://money.cnn.com/2018/03/07/retirement/millennial-retirement-savings/index.html?iid=SF_LN
Rev. Dr. Donna Taylor is the Pastor of Andrew Chapel, United Methodist Church on the Northern Neck in Montross, VA. Rev. Dr. Taylor promotes best practices for financial literacy and financial empowerment in the church and leads workshops throughout Northern Virginia. Currently, she serves as the Chair of the District Finance Committee. In May 2015, Rev. Dr. Taylor received her Doctor of Ministry from Virginia University of Lynchburg in Lynchburg, VA. Rev. Dr. Donna Taylor is married to Dr. David Taylor, who is also the Director of our church-based free clinic. They have two adult children and three grandchildren. In her leisure time, Rev. Dr. Taylor enjoys traveling, jogging, weightlifting, swimming, yoga, and interior decorating. In May 2015, Rev. Dr. Taylor received her Doctor of Ministry from Virginia University of Lynchburg in Lynchburg, Virginia. Rev. Dr. Taylor was born and raised in New York City and recently discovered her ancestral roots in Guinea-Bissau, West Africa. Rev. Dr. Donna Taylor is married to David Taylor and they have a son and a daughter. Their daughter is a educator and son is an Active-Duty Senior Seaman in the Navy married with three children. In her leisure time, she enjoys traveling, reading, swimming, writing poetry, crocheting and spending time with her family.