The New York Times included SAFE CU Assistant Vice President of Wealth Management David Simula and SAFE CU member Terrell Grant in an article this week about how lingering college debt is impacting how Generation “Xers” save for retirement.
Grant provided his insights into the specific challenges members of his generation face as they struggle to pay off their own large education loans while also saving for their children’s higher education.
“I’m hoping to work until 55, but just the way things are looking, it’s looking more like 65,” Grant, who manages a home-care company, told the New York Times.
He said he is pushing his children to consider educational opportunities that won’t require borrowing.
“I try to educate them,” he said about the long-term ramifications of student loan debt. “If they can avoid taking them out, that would be ideal.”
Simula contends Gen X especially faces challenges when it comes to saving for retirement.
“Preparing for retirement is a big concern,” Simula told Martha White, the reporter writing the article who covers consumer financial issues.
SAFE CU provides wealth management services, workshops, and webinars designed to help its members save for retirement. It’s part of SAFE’s mission to help members build financial freedom.
It was an honor for SAFE CU to participate in such a high-profile story, and for the California and Nevada Credit Union Leagues to be involved in connecting the news reporter with a credit union that could help. Click here to read the article!