It seems like the bad news about our retirement prospects just keeps on coming. According to a U.S. Census Bureau report just released, the median level of debt among households led by someone 65 and older more than doubled over the last decade from roughly $12,000 to $26,000. This increase was the biggest among any…
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There are a number of tools you can use to reduce taxes on the growth of your investments. You can contribute to a traditional IRA, where you get a tax deduction for the contribution plus tax-deferral on all gains until you retire. Or you can contribute to a Roth IRA. You don’t get the tax…
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Many of the individuals and families I’ve helped with financial advice over the numerous years I’ve been a financial planner initially came to me with a specific issue or concern. Sometimes it was the need to consolidate and rationalize an investment portfolio scattered across numerous accounts. Occasionally it was what to do with the money…
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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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