Mission Retirement 1 - 5:35
	SEGMENT 1: IT'S YOUR RESPONSIBILITY NARRATOR: AMERICANS ARE WAKING UP THESE DAYS TO THE NEW REALITY OF RETIREMENT … EACH OF US IS RESPONSIBLE FOR BUILDING A BIG ENOUGH NEST EGG TO LIVE ON ONCE WE RETIRE … HELLO, I'M HEDRICK SMITH… ABOUT HALF OF AMERICA'S WORKERS ARE OFFERED COMPANY SAVINGS PROGRAMS. IT'S UP TO US TO USE THEM FULLY... AND TO SET UP OUR OWN INDIVIUDAL RETIREMENT ACCOUNTS. SO FAR, WE'RE NOT DOING A GOOD JOB… EXPERTS SAY ONLY ABOUT 20-25% OF ALL WORKERS HAVE ENOUGH SAVINGS TO BE OKAY IN RETIREMENT… CLOSE TO ONE-THIRD DO NO PARTICIPATE IN THEIR EMPLOYERS' 401k PLANS… VERY FEW CONTRIBUTE THE MAXIMUM… AND EXPERTS WARN THAT THINGS HAVE GOT TO CHANGE. Ext of Kindred Health Care… cut into Seminar, with Colleen Gugliotta presenting… MS. GUGLIOTTA: Thank you all for coming out this afternoon to listen to the retirement planning that we're going to talk about today… COLLEEN GUGLIOTTA IS A RETIREMENT SAVINGS EVANGELIST… TODAY, SHE'S PREACHING TO A GROUP OF EMPLOYEES AT KINDRED HEALTH CARE IN DALLAS, TEXAS… Colleen Gugliotta It's really important that people understand that pensions aren't, you know, the number one retirement savings anymore. It's 401(k)s. So now you have to take more of a hands on approach in investing for yourself PICS of nurses working… other works at the hospital … back to seminar shots… KINDRED OFFERS A 401K PLAN TO ITS NEARLY 40,000 EMPLOYEES NATIONWIDE… BUT FEWER THAN HALF HAVE SIGNED UP… SO THE COMPANY IS TRYING TO BOOST THOSE NUMBERS Betty Honeysucker (Kindred, Director of Human Resources) HONEYSUCKER: Our role is to get the information out there to the employees // let them know that the benefit is available to them. Help them understand how the company can help you and the company will help the employee through an employer match. GUGLIOTTA: If you're contributing 6% or more, you're maximizing your employer match. In other words, you're taking full advantage of that free money that Kindred is offering. KINDRED WILL CONTRIBUTE 25 CENTS FOR EVERY DOLLAR AN EMPLOYEE CONTRIBUTES TO THEIR RETIREMENT SAVINGS PLAN, UP TO 6% OF THEIR SALARY… SO IF EMPLOYEES DON'T PARTICIPATE, THEY ARE THROWING AWAY FREE MONEY FROM THE COMPANY. THAT'S A HUGE RPOBLEM HERE AT KINDRED… AND NATIONWIDE. Colleen Gugliotta GUGLIOTTA: There are two really important benefits to the 401k retirement plan. Number one is the employer match // And then number 2 is the pre tax deferral which allows them to actually save money in taxes // GUGLIOTTA: We often hear people say, “I can't afford to save for retirement.” “I'm too young to start.” “I'm too old to start.” AT TODAY'S SEMINAR, GUGLIOTTA IS TROLLING FOR CONVERTS… TRYING TO SIGNUP THOSE THAT HAVEN'T YET JOINED THE 401(k) PLAN… Ms. GUGLIOTTA: Let's take a look at the first myth, number 1, “I can't afford it.” // How much does a soda cost today, on average? Maybe about a dollar. So, instead of buying that soda today, or tomorrow, you can save that dollar a day for your retirement. Which would you rather have? A soda - although it does look tasty - or a future in retirement? // Let's take a look at how a dollar can add up. Graphic of dollar a day compounding... NARRARTOR: WHAT GUGLIOTTA IS TALKING ABOUT IS THE POWER OF COMPOUND INTEREST … IT WORKS LIKE THIS … IF YOU SAVE A DOLLAR A DAY FOR TEN YEARS, YOU'LL HAVE $5,500, OVER 20 YEARS THAT GROWS TO $18,000 AND AFTER 30 YEARS, YOU'LL HAVE $45,000 Susan Wyderko Compound interest is a powerful concept. When you invest your money, the earnings that you make, if you reinvest those earnings, they, in turn, get earnings. // I think Albert Einstein called compound interest the most powerful force in the universe. Your money is earning a return and then… SOME EMPLOYEES AT THE SEMINAR, LIKE NELSON EUBANKS - A YOUNG CAFETERIA WORKER - FOUND THE ARGUMENT PERSUASIVE… Nelson Eubanks The way she put it in the, in the Session today I mean it's just as easy as buying a soda and we do that 3 and 4 times a day so you cut out one of those sodas a day and there you have 50 some thousand dollars at your retirement fund, that's something to think about. MS. GUGLIOTTA: Now, once you've decided how much to put away, the next step is // Where you're going to put that money - right? NARRATOR: MOST COMPANIES OFFER SEVERAL OPTIONS IN THEIR 401(k) PLANS FOR YOU TO INVEST YOUR SAVINGS. THE EXPERTS SAY … KEEP YOUR COSTS LOW… MONITOR YOUR INVESTMENS AT LEAST ONCE A YEAR … AND, MOST IMPORTANT, DON'T PUT ALL YOUR EGGS IN ONE BASKET. Susan Wyderko It's very important to make sure that you diversify your investment. The easiest way that you do it, /// is a low-cost index fund. That's a mutual fund that invests in a broad basket of stocks from various sectors of the economy, it's an easy way to make sure that your money is diversified from the very beginning. PICS of Eubanks calling in on the phone and enrolling in his 401k… Gugliotta to Eubanks: Are you all set to enroll? It'll just take a minute. We're going to go ahead and call the 1-800 number, and then they'll walk you through the enrollment process. Colleen Gugliotta You can see people like Nelson /// who just after a little bit of time are completely converted in how they feel toward saving for retirement. AFTER THE SESSION, NELSON EUBANKS CALLED INTO JOIN HIS FIRST 401K RETIREMENT PLAN… Nelson Eubanks If you wait until you're 50 or 60 and you, you're just starting to save you really are not going to have much to retire on but if you start at a young age that money accumulates and grows and grows and grows and then maybe when you retire you have enough for you and some of your kids or their kids after so you're never too young to start saving.