Smart kids start saving for retirement early.
retirement
25% Of Americans Say They Have No Savings At All, Including Retirement
By 4.13.07
All but the lowest earning men should have accumulated in a nest egg 12 times their income by the time they retire, EBRI estimates. That’s $900,000 for a man earning $75,000. A woman, because of a higher life expectancy, should have 14 times her income
Damn. Women live so long they can pull that “put one penny in a savings account and in the future you’ll be a zillionaire, but it’ll only pay for one dinner” thing from Restaurant At The End Of The Universe.—MEGHANN MARCO
Leaving Your Job? Don't Forget To Take Your 401k
By 2.25.07
401k’s are critical long-term investments too often forgotten by job-switchers. They are vastly more important than the staplers and pens most people remember to box up.
Consider: Some 7.5 million Americans took about $440 billion in distributions from their 401k plans in 2004, according to Brightworks Partners research. Of the 7.5 million, 6.25 million were job changers and 1.25 million retired. Of the 7.5 million, 55% had 401k balances greater than $5,000.
Thanks to a law enacted in 2005, people leaving their jobs with less than $5,000 in their 401k automatically have their plan rolled into an IRA.
Fidelity MyPlan Retirement Calculator
By 2.8.07
If you want to get a ballpark estimate of how much you need to save monthly to meet your retirement goals, and want a friendly painless internetty wayt to do it, Fidelity has the myPlan snapshot. It’s very Fisher-Price basic, but might be good for people who are terrified of the topic. —MEGHANN MARCO
Open A Roth IRA Now
By 1.19.07
Blueprint For Financial Prosperity highly advises you open a Roth IRA right now if you don’t got one, sucka.
