[Schaumburger]

I read the article . . . not good news. 18.6% of those over 65 still work. And the median value of retirement accounts for those between the ages of 55 and 64 is just over $120,000, according to the Federal Reserve. This is the prime age group that would be considering moving to The Villages in the next 10 years.

Fortunately I was in my former employer's 401(k) plan for 26 of the 27 years I worked for the company. The company I started working for last year automatically enrolls all new employees in the 401(k) plan at 6% of their salary on their first day of employment. If the employee doesn't want to participate in the 401(k) or wants to contribute something other than 6%, the employee has to go to payroll and indicate their wishes. And every January 1, my employer increases all employees' 401(k) contributions by 1% unless the employee goes to payroll to stop this increase. Paternalistic? Maybe, but the earlier a person starts saving for retirement, the better off one will be. But I'm sure I'm preaching to the choir on this one.