To younger workers just starting out, perhaps straddled with college debt and other immediate needs, say a set of wheels or the latest iPod, it’s like Neverland – as far off as it is away. Plenty of time to worry about it – later.

To those slightly older, juggling a career, kids, a mortgage and looming education expenses, it’s something that must be given thought – maybe after the kids have graduated. Unfortunately, that kind of thinking could lead to being seriously unprepared for retirement.

Age is just a state of mind. That adage couldn’t be truer when it comes to thinking in terms of – and saving for – the future. The media is rife with reports about how people in this country just aren’t getting it. Younger workers are the most oblivious to the “Start Early/Save More” mantra of the financial services industry – even though they’re in a great position to potentially benefit from their long timeline. They simply believe they can make up for it later.

According to recent reports, the savings rate among U.S. consumers is at the lowest rate since the Depression – 1.8% in 2004. As recently as 1994, the savings rate was nearly 5%, still low when compared to our counterparts in parts of Europe and Asia, who maintain double-digit savings.

Investing in your retirement plan can seem to compete with a crush of (perceived) immediate emergencies and shortage of income to meet them, but don’t underestimate the importance of planning for your future. Contact your ING representative, Meghan Doherty at 415-364-2017 for more information.

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