New strategies designed to help small-business owners save for retirement or pass down their companies to heirs can make sense for some people but also carry risks. Many retirement-plan options presently exist for small businesses to administer, but generally require that owners provide the same benefits to other employees, making them expensive — and they…
According to the Federal Reserve’s Survey of Consumer Finances (SCF), a typical worker who ends up at retirement with earnings of slightly more than $50,000 and who contributed 6 percent steadily with an employer match of 3 percent should have about $320,000. However, the typical individual has only $78,000. Younger people do not appear to…
Money is a common cause of conflict among couples. Blend your financial lives successfully, and you are more likely to have a happy marriage, according to Cathy Pareto, a financial adviser in Coral Gables, Fla. Early and frequent communication discussing debts, income, credit history, investments and goals is critical. When starting out in a relationship,…
Many companies are revamping their retirement savings programs and employees need to revise their financial plans to protect their nest eggs. What's the best way to do it? First, do not stop contributing even if you are unhappy with the new option. You still should keep contributing to your company’s 401(k) plan. There are few…
