Under-saved boomers have long believed that a tremendous generational transfer of wealth will save their retirement. Estimates have put the expected bequest from boomer parents at $10 trillion to $30 trillion. Well, don’t count on it.
Financial Planning
How to Give Heirs What They Most Want (It Won’t Cost Much)
An enduring legacy of the financial crisis has been a clear shift in personal values—away from materialism and toward relationships and experiences. Born out of need, this national (if not global) rethinking of what is most important has had remarkable staying power even as the economy has started to improve.
How to Buy a House
How to Dump Your Fee-Filled 401(k)
401(k) fees are back in the news. These plans still make sense for many workers, especially if there is a company match. But it’s tough to make the case for sticking around once you retire or find another job. Here are four ways to treat your 401(k) assets.
5 Ways to Avoid Hidden 401(k) Fees
A new report says that investors lose up to 30% of their savings to hidden 401(k) fees. That’s probably a stretch. But outlandish fees are a definite problem. Here’s how you can avoid them.
6 Steps for Building a Financial Plan for Aging Parents
In this week’s TIME Magazine cover story, columnist Joe Klein tells his story of caring for, and eventually losing, his elderly parents. The article is powerful in part because it deals with an issue that — if we’re lucky — most of us will face.
Sandwich Generation: Old Story, New Problem
Boomers were the first to struggle en masse with both the financial needs of kids in college and retired parents outliving their nest egg. Now, the kids may be out of college—but moved back home. Meanwhile, mom or dad has not …
Retirees Taking Early Social Security Benefits Hits 35-Year Low
Boomers have got the message: For most people, it makes sense to delay Social Security benefits to age 70 if possible. More made the choice to delay in 2011 than at any time since 1976. Here’s how you can afford to wait too.
What President Obama Wants You To Tell Your Kids About Money — and When
A useful new government website has just gone live, offering easy teaching points for parents who want to help their kids grow up knowing a thing or two about compound interest and 19 other key financial concepts.
The Future of Retirement? 401(k)s That Look Like Old-Fashioned Pensions
One of the biggest flaws in most people’s retirement plan is something that previous generations rarely worried about: monthly income guaranteed for life. But the fix is in, and before long your 401(k) may look a lot more like …
The American Dream Gets Another Facelift
The American Dream of home ownership has taken some hits in the recession. But it remains alive and well, though with some twists that will help shape the nature of the budding housing recovery.
How to Get the CFPB to Address Your Most Pressing Money Needs
The Consumer Financial Protection Bureau is testing a new website that it hopes will answer all your money questions in the near future. Here’s your chance to let them know what you need most.
