Challenge:
While saving for retirement is a goal on which everyone should focus, this is often a goal that seems out of reach for low-income households, as often, every dollar earned is needed to meet basic household needs or pay off existing student loans.
Strategies:
Offer the option for staff to repurpose 401K contributions to address student loan repayment or other pressing financial needs the family may deem as immediate. Removal of these barriers can often generate opportunities to save for retirement.