The 2016 campaign is shaping into one of the most divisive elections in history, and a new study finds that one party has an advantage when it comes to planning for the future. According to Personal Capitalâ€™s 2016 Election Survey, Republicans are more likely to have a retirement account than Democrats. Members of both parties cited the state of the economy as the most important problem facing the country, but one in five don’t have retirement savings and only 8 percent named retirement security as a concern of the election. Both parties have devoted sections of their official 2016 platforms to Social Security and how they will address retirement security if they are in the White House, said Bill Harris, the CEO of Personal Capital. We know that with the growing cost of health care, education and the shifting economy, Americans will only be able to retire comfortably by planning and saving for the future no matter who wins the election.
Source: Republicans More Likely to Save for Retirement Than Democrats
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David R. Duringer, JD, LL.M, is a concealed firearm instructor and tax lawyer specializing in business and estate planning; licensed to practice law in the states of California and Washington. He is managing shareholder at Protective Law Corporation, serving Southern California from its Laguna Hills (Orange County) headquarters and satellite offices in San Diego County (Coronado and Carlsbad).
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