Savings Archives

No one would choose to postpone retirement for several years just to pay off 401(k) fees.   Many people, though, unwittingly are doing just that. "People understand that 401(k)s cost money, but they never translate it into how much money that really is," says Christian Weller, a senior fellow at the Center for American Progress, a Washington, D.C.-based nonpartisan research and educational institute. "And these fees are steadily eating away at their retirement." Read more»

Whenever something of value changes hands, the Internal Revenue Service is usually going to want its cut.   But if you plan ahead and employ tax-smart strategies, you can make sure more of your wealth goes to your nephew Steve than to Uncle Sam.     Although many people would rather share their wealth with family while they're alive, the IRS often makes this a tall task -- but not impossible.   The Gift of Gifting   Read more»

Every time someone tells you to do something inconvenient in order to save money, make sure you listen to that lazy part of yourself that doesn't want to get off the couch and clip coupons. When it comes to the small stuff, saving a few dollars here and there, it's rarely worthwhile to go out of your way simply to cut costs. Sweating the small stuff doesn't make sense, and the more time you spend trying to save an extra couple of dollars, the more you lose.   Read more»

I'm through fielding advice about how much I should be saving.  I know, I know. Skipping things like daily lattes could help pad my retirement savings.  What I really need to know is how to finance the way my family wants to live. Our actions, once in a while, would make some financial planners cringe: We spend money that we should save.   Read more»