Retirement insights from a Colorado PERA perspective

A distant view shows a mountainous landscape with sloping peaks, green trees in the foreground, and a cloudy sky above.

News headlines often declare that Americans aren’t saving enough money. In fact, <a href="https://www.bankrate.com/banking/savings/emergency-savings-report/">a recent survey by Bankrate</a> found less than half of those surveyed had enough money to afford a $1,000 emergency expense.



April 6 through April 10 is&nbsp;<a href="https://americasavesweek.org/" target="_blank" rel="noreferrer noopener">America Saves Week</a>, an annual initiative of the Consumer Federation of America, a nonprofit consumer advocacy organization. It promotes the value of saving money and the importance of making a plan to save.



The America Saves Week campaign encompasses five themes throughout the week to help make the process of building a saving plan less overwhelming. It’s all about taking small steps that make a big difference in your financial future.



<h2 style="color:#000000;" class="wp-block-heading has-black-color has-text-color has-medium-font-size">Building a strong foundation</h2>



A strong financial foundation begins with knowing where you are and where you want to go. That means taking time to understand your income, track your spending, and identify your goals.



One of the easiest ways to strengthen your financial foundation is to&nbsp;automate your savings. When you schedule regular transfers from your checking to your savings account, you remove the temptation to spend first and save later. You can start small with just $10 or $20 from each paycheck and increase the amount over time.



<h2 style="color:#000000;" class="wp-block-heading has-black-color has-text-color has-medium-font-size">Expect the unexpected</h2>



Whether it’s a flat tire, a medical bill, or a surprise home repair, unexpected expenses can happen any time. Having an emergency fund—even a modest one of just $500—can protect you from relying on credit cards or feeling stressed when something goes wrong.



That first $500 is your first win. From there, you can build toward a larger goal, like one month of living expenses, and eventually three to six months.



<h2 style="color:#000000;" class="wp-block-heading has-black-color has-text-color has-medium-font-size">Dream big and plan with purpose</h2>



Beyond savings for emergencies, you might also be working toward a major milestone in life, such as buying a home, starting a family, or paying for education. Identifying the milestones that are important to you and being deliberate about saving can help focus your efforts and gives you something tangible to work toward.



<h2 style="color:#000000;" class="wp-block-heading has-black-color has-text-color has-medium-font-size">Rewrite the debt narrative</h2>



Rewriting the debt narrative is all about shifting your mindset: Every payment you make, no matter how small, moves you closer to financial freedom and confidence.



Tackling debt can feel overwhelming, but two popular strategies can make it more manageable. The snowball method involves focusing on your smallest debt first for quick wins and motivation, while the avalanche method focuses on paying off your highest-interest debt first to save the most money over time.



<h2 style="color:#000000;" class="wp-block-heading has-black-color has-text-color has-medium-font-size">Your story, your future</h2>



Whatever your savings goal, start small and build on that momentum over time. Financial success rarely happens overnight. It’s built through small, consistent habits that add up over time. Every intentional step you take today will help shape the life you want tomorrow.



<h2 style="color:#000000;" class="wp-block-heading has-black-color has-text-color has-medium-font-size">PERA resources to build financial confidence</h2>



Our <a href="https://copera.org/financial-wellness-library">Financial Wellness Library</a> contains articles on topics such as saving and planning, creating a budget, and getting ready to retire.



We also offer a variety of <a href="https://copera.org/webinars/">webinars</a>—live and on-demand—to help PERA members better understand their benefits and retire with confidence.



MORE RESOURCES:



<ul>
<li><a href="https://www.copera.org/forms-resources">Forms and Resources</a></li>



<li><a href="https://secure.copera.org/secure/calcs/online-calculators/OnlineCalculators.jsp">Calculators (login required)</a></li>
</ul>

America Saves Week 2026: Do You Have a Savings Plan?

<a href="https://www.planadviser.com/more-states-require-personal-finance-courses-as-financial-literacy-declines/" target="_blank" rel="noreferrer noopener">More States Require Personal Finance Courses as Financial Literacy Lags | Planadviser</a>



There’s been a trend in recent years of states passing legislation requiring personal finance education for high school graduation. As of the end of 2025, 39 states—including Colorado—now have a statewide financial literacy requirement in place.



<a href="https://www.axios.com/2026/03/04/401k-retirement-plan-withdrawal-vanguard" target="_blank" rel="noreferrer noopener" class="broken_link">401(k) Hardship Withdrawals Hit Record High — But Investments Still Up | Axios</a>



The number of American workers requesting hardship withdrawals from their 401(k) accounts hit a new high last year, according to a report from Vanguard. The increase in withdrawals could be due to increased financial pressure as well as legislation that made it easier to withdraw money. At the same time, a separate report found account balances were up in 2025.



<a href="https://crr.bc.edu/trump-accounts-a-primer-for-parents/" target="_blank" rel="noreferrer noopener">Trump Accounts: A Primer for Parents | Center for Retirement Research</a>



Beginning later this year, parents will be able to open so-called “Trump accounts” to jumpstart their children’s savings. The accounts come with a $1,000 starting contribution, and like other savings accounts, they also come with a number of rules and regulations around who can open an account, who can contribute and how much, and when distributions are allowed.



<a href="https://www.asppa-net.org/news/2026/3/the-unappreciated-and-underused-savers-credit/" target="_blank" rel="noreferrer noopener">The Unappreciated and Underused Saver’s Credit | American Society of Pension Professionals &amp; Actuaries</a>



Many workers are unaware of the Saver’s Credit, which allows eligible individuals to receive a tax credit for a portion of their contributions to an employer-sponsored retirement plan. The maximum credit is $1,000 for individuals ($2,000 for married couples filing jointly) and workers must meet income requirements in order to claim the credit.



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News You Should Know is a digest of news from publications around the nation about finance, investing, and retirement.

News You Should Know: 39 States Now Require Personal Finance Education

<a href="https://www.aarp.org/money/taxes/what-to-know-new-tax-law-2025.html" target="_blank" rel="noreferrer noopener">What to Know About the New $6,000 Tax Deduction | AARP</a>



The recently passed tax and spending bill known as the One Big Beautiful Bill Act includes a new tax deduction for older Americans. The deduction—up to $6,000 per eligible taxpayer—applies to taxpayers who are 65 or older with a modified adjusted gross income of less than $175,000 ($250,000 for married couples filing jointly). The deduction takes effect for the 2025 tax year and is set to expire after the 2028 tax year. 



<a href="https://coloradosun.com/2025/07/17/colorado-health-insurance-prices-one-big-beautiful-bill/" target="_blank" rel="noreferrer noopener">Colorado Health Insurers Propose Huge Price Increases for 2026 | The Colorado Sun</a>



Insurance carriers are asking the state to approve significant increases in plan premiums for people who buy health insurance on the individual marketplace. On average, insurers are proposing a 28.4% increase for 2026, but that percentage is even higher in more rural parts of the state. PERA staff are still working with carriers to finalize details for PERACare plans and we expect to have 2026 premium information available by October 1. 



<a href="https://www.axios.com/2025/07/18/trump-signs-stablecoin-bill-into-law-genius" target="_blank" rel="noreferrer noopener">GENIUS Act: Trump Signs Stablecoin Bill He Championed | Axios</a>



President Donald Trump signed into law a landmark cryptocurrency bill that establishes a regulatory framework for stablecoins, which are a type of digital currency that’s tied to relatively stable assets like the U.S. dollar. Critics have argued the bill doesn’t include enough guardrails or consumer protections, while proponents say the new regulations will pave the way for cheaper, more efficient ways to move money. 



<a href="https://www.investopedia.com/why-gen-z-believes-side-hustles-are-key-to-a-secure-retirement-11741168?hid=a526fec8f4710d579c898e2c1bdd1b7d2a8953bb&amp;did=18511613-20250710&amp;utm_campaign=investopedia-daily_newsletter&amp;utm_source=investopedia&amp;utm_medium=email&amp;utm_content=071025&amp;lctg=a526fec8f4710d579c898e2c1bdd1b7d2a8953bb&amp;lr_input=3bcb2a6d7fb80db556175b41a2a4ef69629b1975a06f7b74c80b82739c223050&amp;utm_term=midday" target="_blank" rel="noreferrer noopener" class="broken_link">Why Gen Z Believes Side Hustles Are Key to a Secure Retirement | Investopedia</a>



Research has shown that younger generations are thinking seriously about retirement and taking action to boost their finances. Not only are members of Gen Z saving for retirement earlier than older generations, but many of them are picking up extra work. A recent survey found over half Gen Z workers have a so-called “side hustle” that helps them pay down debt, save for retirement, and meet other money goals.



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News You Should Know is a digest of news from publications around the nation about finance, investing, and retirement.

News You Should Know: How the New $6K Deduction for Seniors Works

<a href="https://apnews.com/article/what-is-republican-trump-tax-bill-f65be44e1050431a601320197322551b" target="_blank" rel="noreferrer noopener">What&#8217;s in the Big Bill That Trump Has Signed into Law | AP News</a>



Congress passed and President Trump signed the large tax and spending bill, known as the One Big Beautiful Bill Act, that President Trump has made a priority. The bill, which is nearly 900 pages long, makes a wide variety of changes to federal law, including extending tax cuts, creating new temporary tax deductions, boosting funding for border security, and reducing the number of people covered by Medicaid and food assistance programs.



<a href="https://www.forbes.com/sites/ronshevlin/2025/07/01/the-new-trend-in-personal-finance-revenge-saving/" target="_blank" rel="noreferrer noopener">The New Trend in Personal Finance: Revenge Saving | Forbes</a>



You may remember the term “revenge spending” from the period following COVID-related lockdowns, which described the surge in spending that occurred as people began to resume regular daily activities. Now, there’s a reversal happening with many people opting for “revenge saving” instead. Experts say unlike traditional saving, which is often focused on long-term goals, revenge saving is more emotionally reactive and a response to economic volatility and uncertainty.



<a href="https://www.usatoday.com/story/money/2025/07/05/most-popular-retirement-states-florida-arizona/84459117007/" target="_blank" rel="noreferrer noopener">Where do Americans Go to Retire? Not Where You Think. | USA Today</a>



While it’s long been known that retirees like to move to warm states like Arizona and Florida, recent analyses have found changing trends as retiree priorities shift. According to one such list, Wyoming is the top destination for retirees, followed by South Carolina and Idaho. Another ranking lists Massachusetts, Florida, and Illinois as top destinations for retirees. Experts say various factors beyond climate influence retiree migration, including proximity to nature, amenities, and cost of living.



<a href="https://www.kiplinger.com/retirement/retirement-planning/the-first-year-of-retirement-rule" target="_blank" rel="noreferrer noopener">The &#8216;First Year of Retirement&#8217; Rule | Kiplinger</a>



If you’re nearing retirement, you may be thinking about what your transition away from work looks like and daydreaming about the possibilities. But experts say that without careful planning, the first year of retirement can make or break the years that follow. Here’s why the first year is so important, and some tips for making sure you’re set up for success in retirement.



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News You Should Know is a digest of news from publications around the nation about finance, investing, and retirement.

News You Should Know: What’s Included in the Federal Spending Bill?

<h2 style="color:#000000;" class="wp-block-heading has-black-color has-text-color has-medium-font-size"><a href="https://www.theguardian.com/business/2025/feb/04/sovereign-wealth-funds-donald-trump-what-is-it-why" target="_blank" rel="noreferrer noopener">What is a Sovereign Wealth Fund and Why is Trump Creating One Now? | The Guardian</a></h2>



President Donald Trump signed an executive order directing the Treasury and Commerce Departments to create a sovereign wealth fund. Common in oil-rich countries like Norway and Saudia Arabia, sovereign wealth funds often serve as a national pool into which countries can invest surplus funds for the greater good.



<h2 style="color:#000000;" class="wp-block-heading has-black-color has-text-color has-medium-font-size"><a href="https://www.aarp.org/retirement/social-security/info-2025/survey-raising-taxes.html" target="_blank" rel="noreferrer noopener">Survey Finds Support for Raising Taxes for Social Security | AARP</a></h2>



The country may be sharply divided politically, but Americans can agree on the value of Social Security. In a new survey from AARP and the National Academy of Social Insurance, 85% of respondents said Social Security benefits should be maintained or increased, even if that means paying higher taxes. That support is consistent across party lines, with strong majorities of Republicans, Democrats, and independents all supporting increasing revenue.



<h2 style="color:#000000;" class="wp-block-heading has-black-color has-text-color has-medium-font-size"><a href="https://fortune.com/article/personal-finance-classes-are-popular/" target="_blank" rel="noreferrer noopener">Personal Finance Classes are the New Hotness on Campus | Fortune</a></h2>



In school districts around the country, there’s a growing emphasis on the importance of teaching financial literacy, and that trend continues into college. In fact, students are so eager to sign up for personal finance classes that some colleges and universities have waitlists for those courses.



<h2 style="color:#000000;" class="wp-block-heading has-black-color has-text-color has-medium-font-size"><a href="https://www.mcknightsseniorliving.com/news/public-health-worker-shortage-could-mean-challenges-long-term-care-providers/" target="_blank" rel="noreferrer noopener">Public Health Worker Shortage Could Mean Challenges For Long-Term Care Providers | McKnights Senior Living</a></h2>



A new report from the U.S. Government Accountability Office found there’s a significant gap between the number of public health workers needed around the country and actual staffing levels. The report said public health emergencies such as the COVID-19 pandemic exacerbated the issue, but the Department of Health and Human Services has taken some steps to address the shortage.



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News You Should Know is a digest of news from publications around the nation about finance, investing, and retirement.

News You Should Know: Trump Moves to Establish U.S. Sovereign Wealth Fund

<h2 style="color:#000000;" class="wp-block-heading has-black-color has-text-color has-medium-font-size"><a href="https://finance.yahoo.com/news/fed-schmid-says-uncertain-far-183000678.html" target="_blank" rel="noreferrer noopener" class="broken_link">Fed Officials Fret Over How Far They Can Lower Interest Rates | Bloomberg via Yahoo! Finance</a></h2>



What will the Federal Reserve do next? It appears even Fed officials aren’t sure, given their comments at a recent conference. While it’s likely we’ll see additional interest rate cuts in the future, it’s unclear how low they’ll go, as officials have suggested the rate needed to keep inflation in check may be higher than in the pre-pandemic years.



<h2 style="color:#000000;" class="wp-block-heading has-black-color has-text-color has-medium-font-size"><a href="https://www.planadviser.com/retirement-benefits-valued-workers-last-year/" target="_blank" rel="noreferrer noopener">Retirement Benefits Valued by More Workers Than Last Year | PlanAdviser</a></h2>



Retirement benefits have grown in importance to workers, according to a recent survey. That survey found 62% of respondents said retirement plans contributed most to their financial security, up from 56% the year before. Other priorities included health insurance and paid time off.



<h2 style="color:#000000;" class="wp-block-heading has-black-color has-text-color has-medium-font-size"><a href="https://www.cnbc.com/2024/11/11/credit-card-debt-among-retirees-jumps-significantly.html" target="_blank" rel="noreferrer noopener">Credit Card Debt Among Retirees Jumps | CNBC</a></h2>



New poll data shows just how much retirees’ credit card debt has grown in recent years. According to the Employee Benefit Research Institute, 68% of retirees had outstanding credit card debt in 2024, up from 40% just two years ago. In general, EBRI says retirees and those approaching retirement today are much more likely to have debt—and more of it—than in the past.



<h2 style="color:#000000;" class="wp-block-heading has-black-color has-text-color has-medium-font-size"><a href="https://www.nextavenue.org/guide-model-for-dementia-caregivers/" target="_blank" rel="noreferrer noopener">GUIDE Model Offers Hope, Support for Dementia Caregivers | Next Avenue</a></h2>



The Centers for Medicare and Medicaid Services is rolling out a major initiative known as Guiding an Improved Dementia Experience (GUIDE). The new framework aims to fill existing gaps in dementia care and support for caregivers—including training and education, financial assistance for caregiver breaks, and better access to around-the-clock virtual care.



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News You Should Know is a digest of news from publications around the nation about finance, investing, and retirement.

Tag Archives:

America Saves Week 2026: Do You Have a Savings Plan?

News You Should Know: 39 States Now Require Personal Finance Education

News You Should Know: How the New $6K Deduction for Seniors Works

News You Should Know: What’s Included in the Federal Spending Bill?

News You Should Know: Trump Moves to Establish U.S. Sovereign Wealth Fund

News You Should Know: Fed Charting Uncertain Course with Interest Rates

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