Guidant Financial Group Blog

Inc.com reported last week that due to high gas prices and rising food costs, Americans are tapping into their retirement plans and investment funds (see Higher Prices Cutting into Savings).

Stop. It. Now.

The report comes from a survey by Edward Jones of more than 800 households across the country. Those hardest hit were the young, aged 18-24, and those earning between $35,000 and $50,000 annually.

Believe us when we say, we understand. Several of our employees have started carpooling, the refrigerators in the break rooms are stuffed with food brought from home and we are hearing less and less about weekends spent golfing and road trips with the kids (usually mainstays during the summer!).

However, one thing that we are definitely not hearing is that our coworkers are dipping into their retirement savings to make ends meet, or reducing their contribution levels to the company 401(k). Simply by being in the business we are in, we understand the importance of saving for a happy retirement.

And you should too.

Clif Helbert, a retirement planning principal at Edward Jones, said it best when he told Inc.com that “Gas prices are unpredictable, but the need to save for retirement isn't.”