Getting Renters to Save

Josh Barro proposes a plan to get renters to save through a myRA-for-renters scheme.

Let’s Throw Some Money at Our Problems: February 2014 Check-In

Pull up those balances!

I Bought a House When I Was 21

When I tell people that I own my house, and that I bought it when I was 21, they always want to know how could she afford it? I can see in their faces that they're wondering if I'm a trust fund baby, if my rich boyfriend bought it with me, or if I secretly make money doing something tawdry. Nobody ever asks me that question, but if they did, I think they'd be disappointed in the answer. My secret: I just saved my money.

Accumulating More Debt Than Money for Retirement

A majority of Americans with 401(k)-type savings accounts are accumulating debt faster than they are setting aside money for retirement, further undermining the nation’s troubled system for old-age saving, a new report has found.

Three in five workers with defined contribution accounts are “debt savers,” according to the report released Thursday, meaning their increasing mortgages, credit card balances and installment loans are outpacing the amount of money they are able to save for retirement.

In today’s news about our on-going retirement crisis, Americans with 401(k)-type retirement accounts put away a little more than 11 percent of their pay for retirement, but they’re also accruing more debt at the same time. And it’s not because Americans are any more or less responsible than they were a generation ago (Elizabeth Warren can explain this better than I can). And this is just among Americans with 401(k) accounts—59 percent of households headed by people age 65 and older currently have no retirement assets, according to Federal Reserve data.

Photo: Wikimedia Commons

Get Rich Slowly “If You Can”

Bernstein's manual is as readable as his facts are sobering. (None of us have pensions! We're screwed!) The most important thing you can do is to save 15% of your income starting at age 25, he says. It will get you in the habit of saving, which is good because, get ready, there's lots more saving to do.

Access to Credit and the Poor

In the NYT Times Magazine, economics reporter Shaila Dewan looks at how credit card debt helps low-income people. For one thing, having access to credit and demonstrating an ability to pay back money you borrow builds a better credit profile that helps people save money over time.

A Financial Adviser Plans Her Holiday Spending

I am frequently asked for suggestions on saving money over the holidays, so I thought I’d share some ideas that have helped me.

Piggy Banks vs. Savings Accounts for Kids

At Motherlode, Ron Lieber wonders when the right time is for his kids to switch from saving money in a jar or piggy bank to a savings account at the bank. Lieber says there is value for kids to see their pile of money growing in a bank at home—money that they can actually hold in their hands if they wanted to. He points to David Owen's book, The First National Bank of Dad which had a chapter on this argument

Let’s Throw Some Money at Our Problems: January 2014 Check-In

Pull up those balances!

Let’s Throw Some Money at Our Problems: October 2013 Check-In

OK! Let's throw some money at our problems.