Most people delay saving for retirement until their income goes up and retirement age is on the horizon. It makes sense. But it doesn’t work. Here’s why.
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Retirement
Women and Money: Why You Need to Take Control Now
The good news: More than a third of American women are now the family breadwinner (look at that!). The bad news: We still tend to pass the buck on important money matters, such as investing and retirement. Ready to take charge of …
Spain’s Economy May Be a Mess — but It Can Teach the U.S. About Financial Literacy
A nation at the heart of the global debt crisis has a financial-education strategy focused on schoolkids. I speak with one of the architects of the plan in Madrid, where a new four-year plan is in development
True Story: How Young People Can Lock Up Financial Security in 5 Years
A report from T. Rowe Price argues that the first few years out of school are critical in reaching long-term financial security. Starting saving early is so important that you can virtually lock up retirement security by age 30 if you take these four steps
Compound Interest? Huh. Investors Flunk Key Financial Literacy Test
Dodd-Frank financial reform mandated a study on what Americans understand about investments. The results weren’t pretty.
How to Save $2,500 a Year on Lunch
Most workers eat lunch out at least once a week. It’s convenient and maybe even fun. But if you simply stop going to the deli or pizza shop you can retire on the savings. The trick is getting set up. Here’s how.
401(k) Plans Back to Pre-Crisis Levels (and Improved)
New data show that the percentage of companies offering a 401(k) match is back at pre-recession levels. Meanwhile, features like advice and auto enrollment are way up. Now, if we can just get workers to pay attention.
Why Higher Future Tax Rates are Certain but Won’t Matter
An important part of retirement planning is estimating your future tax rate. Most financial planners assume tax rates will go up in the future. But while that may be true it doesn’t necessarily mean the amount of tax you pay …
How Retirees Can Help a College Town Thrive
What Do You Mean We’re Going to Get Old?
Everyone seems to want lifetime-income products as a 401(k) option. But our retirement system is so skewed toward accumulating, not drawing down, assets that the income problem managed to catch us by surprise. Change is coming–but not nearly fast enough.
Bernanke: Kids Will be Better Off Than Parents, But…
Speaking at a Fed town hall meeting with educators, Chairman Ben Bernanke said kids today will have it better than their parents. But they’ll also need to be financially astute, and Bernanke said every student should be exposed …
Social Security Now Takes More Than it Gives
Social Security has reached another critical threshold: For the first time, a typical husband and wife retiring today can expect to collect less in benefits than it paid in payroll tax over the course of their life.