Core Insights - Retirement planning requires adequate savings to maintain a desired lifestyle, emphasizing the importance of preparing for unexpected expenses [1][2] - Emergency savings accounts (ESAs) are highlighted as a crucial financial resource to prevent financial difficulties during retirement [3][4] Group 1: Importance of Emergency Savings Accounts - An emergency savings account is defined as a dedicated account for unexpected expenses, which becomes critical in retirement when regular income ceases [4] - Workplace ESAs are favored as they automate the saving process, reducing the risk of forgetting contributions [5][6] - Employees with emergency savings are more likely to engage in retirement planning and contribute larger amounts to their retirement plans [6][7]