Happily Ever After - Segment 1 - 9:33
	Happily Ever After - Seg 1 (9:33) Mr. SALISBURY: THE SAVINGS GAME is part of a multifaceted educational program, Choose to Save. Its purpose is to help individuals of all ages become aware of the importance of saving for retirement. Choose to Save was created by several partners and underwritten by Fidelity Investments. It has made a difference for the community, lawmakers and consumers. You may have seen our news stories on TV or heard them on radio. Perhaps you noticed our ads in the newspapers or on Washington's mass transit. Many are finding that preparing for retirement does not need to be complicated nor severely impact your family's finances. Choose to Save has helped millions by providing them with the tips and tools that they need to get started. The message of Choose to Save is clear: Each of us hopes to retire. Saving for that day is essential. If we don't, we may get the opportunity to work forever. Announcer #2: Choose to Save. ======================= Vignette: "I put a little bit aside every week. I mean, as hard as it is, if you don't have it, you can't spend it but it's there when you get there. Vignette: "I'm an actor. I'm not worried about retirement yet" Vignette: "Plan as early as you can plan. Don't wait until the day before you retire." Vignette: "I've been thinking about retirement since age 22" Vignette: "You know, because I'm nearing the retirement age, I need to get very serious" Vignette: "See, my thing is fine arts so I never really gave that much thought... idunno, now I'm thinking about it (laughs)" VO: AMERICA THE BEAUTIFUL. THE LAND OF OPPORTUNITY AND THE HOME OF A WORKFORCE THAT IS OVER 146 MILLION STRONG. EVERYDAY, PEOPLE GET UP AND GO TO WORK SO THEY CAN MAKE A LIVING. IT'S A SIMPLE FACT OF LIFE. AND ALONG WITH THAT IS THE FACT THAT SOONER OR LATER MOST OF THAT WORKFORCE, MOST OF US, WILL RETIRE. THE LIFE AFTER WORK. THE GOOD LIFE. YOUR GOLDEN YEARS. THE QUESTION IS HOW WILL YOU RETIRE AND WILL YOU HAVE SAVED ENOUGH TO ENJOY YOUR RETIREMENT? DO YOU KNOW HOW MUCH YOU'LL NEED TO LIVE THE WAY YOU WANT IN THE AUTUMN OF YOUR LIFE. HAVE YOU STARTED PLANNING FOR YOU FINANCIAL FUTURE? ARE YOU RELYING ON SOCIAL SECURITY TO SEE YOU THROUGH OR ARE YOUR INVESTMENTS DIVERSIFIED. AND WHAT ABOUT HEALTH CARE... ARE YOU PREPARED? WILL YOU WORK IN YOUR RETIREMENT YEARS BECAUSE YOU WANT TO KEEP YOURSELF BUSY OR BECAUSE YOU HAVE TO IN ORDER TO MAKE ENDS MEET? IT'S A CHOICE WE ALL HAVE TO MAKE AND HOPEFULLY WE'LL START PLANNING FOR IT SOONER RATHER THAN LATER. CHOOSE NOT TO SAVE A WORK FOREVER OR CHOOSE TO SAVE AND LIVE HAPPILY EVER AFTER. WHEN YOU ASK PEOPLE WHAT THEY PLAN ON DOING IN THEIR RETIREMENT YEARS THE ANSWER IS USUALLY THE SAME. SOUND BITES FROM MAN ON THE STREET VO: AS YOU MIGHT EXPECT MOST PEOPLE LOOK AT THEIR RETIREMENT AS A TIME TO KICK BACK AND ENJOY LIFE. BUT HOW MANY PEOPLE ARE AWARE OF WHAT IT TAKES TO PLAN AND MORE IMPORTANTLY SAVE FOR THE DAY THAT YOU WILL BE ABLE TO DO ALL THIS TRAVELING AND GOLF PLAYING. WHO BETTER TO ASK... BUT THE EXPERTS IN THE FIELD OF RETIREMENT. PEOPLE WHO ARE ALREADY THERE. "I WENT TO A GEORGETOWN COCKTAIL PARTY AND THE DATE OF A LADY THAT WAS THERE WAS A NICE YOUNG LAWYER AND I DIDN'T LEAVE WITH HIM BUT A FEW DAYS LATER HE WAS NICE ENOUGH TO CALL." VO: MEET PHOEBE & RICHARD LANSDALE... MARRIED IN 1964, THEY BOTH ENJOYED MANY YEARS AT VERY SUCCESSFUL JOBS, RICHARD AS A LAWYER AND PHOEBE AS A LIAISON FOR SEVERAL GOVERNMENT AGENCIES. THEY HAVE THREE GROWN CHILDREN. THEY RETIRED A FEW YEARS AGO. AFTER RICHARD HAD A STROKE IT BECAME DIFFICULT FOR HIM TO MAINTAIN A HOME AND THE PROPERTY. SO, THEY DECIDED TO SELL THEIR HOUSE AND NOW ARE ENJOYING A TRANQUIL, MAINTENANCE FREE LIFE AT SUNRISE, BEDFORD COURT... AN INDEPENDENT SENIOR LIVING COMMUNITY IN SILVER SPRING, MARYLAND, THAT HOMES MORE THAN ????? RETIREES. VO: PHOEBE AND RICHARD ARE VERY HAPPY WITH THEIR CURRENT SITUATION AND THEY LOVE THEIR NEW HOME. THEY REMEMBER WHEN THEY FIRST RETIRED AND EVEN THOUGH THEY WERE CAREFUL WITH THEIR FINANCIAL PLANNING THEY STILL COULD NOT STOP WORKING COMPLETELY... "WE HAD TO WORK AFTER WE RETIRED WE FELT BECAUSE OUR MARGIN WAS TOO TIGHT. WITH CHILDREN IN COLLEGE AND ONLY A LITTLE BIT COMING IN ON PENSIONS WE HAD TO ADD TO OUR INCOME IN ORDER TO TAKE CARE OF OURSELVES LATER... " CHRIS KLUETZ, THE DIRECTOR OF SUNRISE BEDFORD COURT SAYS THAT MANY OF THE SENIORS THAT LIVE THERE STRUGGLE WITH FINANCES DURING THEIR RETIREMENT. "I THINK PEOPLE FORGET TO PLAN THAT THEY'RE GOING TO LIVE SO LONG. I THINK A LOT OF PEOPLE DO A GREAT JOB PLANNING FOR THAT EARLY PART OF RETIREMENT (CUT OUT FLORIDA REF AND PICK UP WITH: ) BUT THEY DON'T NECESSARILY LOOK AT THE LATER YEARS OR EXPECT TO LIVE SO LONG. MY MOTHER LIVED TO 98 AND MY FATHER TILL 78 OR SOMETHING BUT MY HUSBAND KEEPS REMINDING ME THAT I'M GOING TO LIVE MUCH LONGER THAN MY MOTHER. PHOEBE & RICHARD ENJOY THE MAINTENANCE FREE LIVING OF THIS COMMUNITY, WITH NO GRASS TO CUT, SNOW TO SHOVEL, OR GARBAGE TO TAKE OUT TO THE CURB... BUT LIFE IS NOT WITHOUT SACRIFICE. AS KIDS WHO GREW UP DURING THE DEPRESSION THEY HAVE LEARNED THE IMPORTANCE OF SAVING AT A VERY YOUNG AGE AND STILL TO THIS DAY CUT BACK WHERE THEY CAN. "I DON'T SAVE MUCH BUT I SAVE A LITTLE. WE HAVE ONLY ONE CAR. WE ONLY TAKE 2,3,4 TRIPS OUT OF CITY, WE GO ORDINARY CLASS, NOT FIRST CLASS, WE WOULDN'T DREAM OF IT, WE DON'T SPEND VERY MUCH, WE DON'T GO OUT TO EAT VERY MUCH AND I KNOW THE YOUNGER GENERATION OFTEN DOES, ALL THREE OF OUR CHILDREN DO THAT." SOME OF THE RESIDENTS THAT WE HAVE HERE, THEY ARE ON FIXED INCOMES. THEY DON'T HAVE A LOT OF MONEY IN THE BANK THAT'S EARNING THEM A LOT OF INTEREST AND THEY'RE RELYING STRICTLY ON SOCIAL SECURITY, MAYBE A MILITARY PENSION AND IT BECOMES CHALLENGING FOR THOSE RESIDENTS ESPECIALLY AS THE NEED FOR CARE HAPPENS." YOUNG PEOPLE OUT THERE WHO ARE NOT LOOKING HARD ENOUGH AT WHAT'S GOING TO COME LATER HAVE TO WAKE UP. YOU CAN'T COUNT ON GOOD LUCK OR THE LOTTERY. YOU'RE GOING TO RETIRE SOMEDAY... YOU MAY RETIRE YOUNGER THAN YOU THINK AND YOU MAY HAVE A WHOLE 3RD OF YOUR LIFE IF YOU LIVE TO 90 YEARS OLD OR 95 THAT STILL HAS TO BE FUNDED AND YOUR MEDICAL COSTS HAVE TO BE FUNDED. FOR BOTH OF THESE YOU'RE GOING TO NEED SOME MONEY. VO: MOST PEOPLE THINK THAT SAVING MONEY IS THE HARDEST THING IN THE WORLD THAT YOU'LL EVER DO. HARDER, THEN SAY, COLLEGE CALCULUS. OR LEARNING TO SPEAK LATIN. ESPECIALLY WHEN WE LIVE IN A COUNTRY WHERE WE DO A LOT OF SPENDING. IT MAY SEEM ALMOST IMPOSSIBLE TO SAVE ENOUGH TO BE FINANCIAL FREE. (JOHN DAUPHINÉ INTERVIEW) "SAVE AS MUCH AS YOU CAN, AND A LOT OF PEOPLE THINK 'WELL I CAN'T SAVE, YOU KNOW, I'M, I HAVE A HOUSE AND I'M JUGGLING OTHER PRIORITIES AND THE KIDS ARE IN SCHOOL,' UM, AND THOSE ARE ALL INCREDIBLY IMPORTANT THINGS, BUT YOU REALLY NEED TO THINK ABOUT RETIREMENT TOO." "START EARLY BECAUSE WHEN YOU START EARLY THAT MONEY, PARTICULARLY IF IT'S IN A TAX-DEFERRED ACCOUNT, THE COMPOUND INTEREST WILL, REALLY, REALLY GET TRACTION FOR YOU" "IF YOU LOOK AT A BAR CHART YOU'RE GONNA SEE THE FOLKS WHO STARTED EARLY CAN GET AWAY WITH SAVING A LOT LESS OVER TIME JUST BY VIRTUE OF THE POWER OF COMPOUND INTEREST." "ITS ALWAYS AMAZING TO US OLD PEOPLE WHAT GREAT SPENDERS YOUNG PEOPLE ARE." MUCH LIKE PHOEBE & RICHARD, GLORIA BERG, A SUNRISE RESIDENT AT BLUMONT PARK IN ARLINGTON, VIRGINIA, LEARNED TO APPRECIATE THE IMPORTANCE OF SAVING EARLY IN HER LIFE. "I GREW UP IN AN AGE WHEN THE DEPRESSION WAS ON. I REMEMBER WHEN IT HIT, MY FATHER WAS A STOCKBROKER, HE MADE A LOT OF MONEY, AND ALL OF A SUDDEN IT WASN'T THERE ANYMORE AND WE HAD TO CUT DOWN. BUT EVEN THEN WE WERE MUCH MORE FRUGAL, WE DIDN'T WASTE... I SEE SO MUCH WASTE TODAY." GLORIA ENJOYS LIVING CLOSE TO HER CHILDREN AND GRANDCHILDREN. SHE IS A RETIRED BOOKKEEPER AND WIDOW WHOSE RETIREMENT PLANNING INCLUDED RECOGNIZING THE NEED TO DIVERSIFY HER SAVINGS. ALTHOUGH SHE COLLECTS SOCIAL SECURITY, SHE REALIZED EARLY ON THAT IT WOULDN'T EVER BE ENOUGH TO LIVE ON COMPLETELY. "IF I HAD NOT PLANNED AHEAD AND INVESTED PROPERLY (CUT OUT FEW WORDS HERE) I WOULD BE IN A GREAT DEAL OF TROUBLE. MY SOCIAL SECURITY IS $983 A MONTH AND THIS IS THE COMBINED NOW THAT MY HUSBAND DIED 2 YEARS AGO. SO THAT'S MY COMBINED SOCIAL SECURITY CHECK THAT I RECEIVE. WHAT WOULD I DO ON $983 DOLLARS A MONTH?" VO: GLORIA'S SOCIAL SECURITY PROVIDES HER AND ALL AMERICANS WITH A MONTHLY, CASH BENEFIT IN THE EVENT OF SICKNESS AND DISABILITY, OR RETIREMENT FROM WORK. BUT IT WAS CREATED FOR THE PURPOSE OF MERELY SUPPLEMENT A PERSON'S RETIREMENT INCOME AND NOT BE THEIR SOLE SOURCE OF REVENUE. SAYS WHO? WHEN WE COME BACK... THE MAN WHO STARTED IT ALL.