Weight Watchers has been one of the most popular diet programs in the country since being founded in 1963. There are many reasons for this. Most importantly, the coaching, structure, and tools help members reach their goals in a simple to follow, step by step process.
Wouldn’t it be great if the Weight Watchers model could be applied to retirement savings? Well, the Savings Exchange is finding out if this is possible. This organization is using the Weight Watchers method of monthly meetings as a way of reinforcing the importance of saving for retirement. Along with this, they are doing their part in helping low income individuals take advantage of tax credits while increasing savings.
Many features of the program have people excited – especially those who are involved. They include:
1. Automated savings. Through the use of an IRA Savings club members of the group can set goals and slowly work towards them.
2. It is more fun to save when you belong to a group. Every member will be supplied with a passbook in which he or she can track progress, mark off goals, and work towards important milestones. This sort of organization goes a long way in yielding long term success.
3. Businesses of all sizes can take advantage. The Savings Exchange wants people to get involved. For this reason, they offer free startup kits for distribution to employees.
Whether you are nearing retirement or already in retirement, improving your savings habits can have a significant impact on your retirement funds. The Savings Exchange, in cooperation with the Corporation for Enterprise Development (CFED), is doing its part in helping consumers reach their retirement savings goals. You can get started today by implementing automation and goal setting into your saving practices, and requesting these types of programs in your area.