Principal CEO Wants Americans to Save

Americans aren't just spending everything they earn - they're dipping into savings to keep up with the Joneses.

That worries Barry Griswell.

"We have a national crisis around savings," said Griswell, whose newest job is to do something to cure that ill.
Griswell is mainly known in business circles as chairman and chief executive of Des Moines-based Principal Financial Group Inc. For the next 12 months, however, he also dons an additional task as president of the American Council of Life Insurers.

Heading that Washington-based trade group gives Griswell a national pulpit to talk about what the life insurance industry can do to encourage Americans to save more. Consumers need it for their retirement or other purposes, yet the federal government reported in August that the national savings rate was minus-7 percent.

Principal CEO Wants Americans to Save
Source: Insurance News Net