According to fourth quarter 2012 data for defined contribution plans administered by MassMutual (as reported in media site BenefitsPro.com), the average deferral rate for women participants was 5.38% and the rate for men 5.81%. This was reportedly the highest savings rate in four years. That’s the good news. But is a 5% or 6% savings…
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Parents who want to save tax-free for their children’s college expenses are facing a growing array of choices. As of the end of last year, according to a Morningstar report, there were over 80 tax-free 529 college savings plans offered by 48 states. If you feel that a 529 plan is the best choice for…
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The Washington Post recently reported that for the first time since the 1930s, a majority of Americans are expected to be financially worse off in retirement than their parents. This conclusion, based on research from the U.S. Senate Committee on Health, Education, Labor and Pensions, the New School for Social Research, and Boston College’s Center…
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FINRA, the Financial Industry Regulatory Authority, recently warned investors that in the event of rising interest rates, “outstanding bonds, particularly those with a low interest rate and high duration may experience significant price drops.” Why are bonds facing this risk today and what should investors do as a result? As I wrote last year, we…
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According to a recent survey from UBS Wealth Management Americas, long-term care is investors’ greatest personal financial concern. Donald Jay Korn in On Wall Street (a SourceMedia publication for the financial services industry) reports that more respondents were “highly worried” about “being able to afford healthcare and the support I need in my old age”…
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Scott Shane, professor of entrepreneurial studies at Case Western Reserve University, writes in Entrepreneur Magazine that small-business owners don’t save enough for their retirements. Citing senior economist Jules Lichtenstein of the Small Business Administration, he finds that self-employed people are less likely to have a retirement plan than people who work for others. The statistics…
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