California Event: The Savings Crisis

Personal savings rates have plummeted in the past decade to an all-time historic low. Many Americans aren’t saving enough money for retirement, households are increasingly living day to day on high-interest credit cards, and millions are one medical emergency or layoff away from financial crisis. Moreover, poor savings rates mean that there is less money for domestic investment and to finance our government’s debt.

As more and more Californians are expected to save for their own futures, millions of individuals get conflicting messages from government: Save, and don’t save. Over the last decade there has been an emerging consensus among researchers, policymakers, and practitioners about the importance of helping people save and build wealth by removing the barriers to save so that they can put themselves on a path to financial independence.

On Thursday, February 14th, Dory Rand, Senior Counsel to the National Shriver Center on Poverty Law will present on the importance of helping people save and build wealth by removing the barriers to save so that they can put themselves on a path to financial independence.

This event is co-hosted by the New America Foundation, the Assets Policy Initiative of California, and the California Research Bureau, in association with Assemblymember Ted Lieu (D-Torrance).

Participants

• Dory Rand
  Supervising Attorney for Community Investment
  Sargent Shriver National Center on Poverty Law

• Olivia Calderon
  California Legislative Director, Asset Building Program
  New America Foundation