The Takeaway: 401(k) Fees Reduce Savings by 30 Percent, Says Study

Posted on 05/31/2012 by | Brooklyn, NY | Comments

Bulletin TodayHmmm … 401(k) plans can help you save money for retirement, but they many also cost you more than you realize. According to a new study from research firm Demos, the average American couple pay nearly $155,000 in 401(k) fees in the course of building up their proverbial nest egg; wealthier couples could pay nearly $278,000. These fees can reduce 401(k) savings by an average of 30 percent.

The Takeaway: Americans Okay With Their Overspending

Posted on 05/25/2012 by | Brooklyn, NY | Comments

Bulletin TodayIt seems a lot of Americans are okay with spending beyond their means from time to time. A new survey conducted by COUNTRY Financial found 52 percent of respondents periodically spend more than they earn in a given month. Yet only 9 percent believe their lifestyle is more than they can afford.

The Takeaway: Older Americans Feel Better About Their Money

Posted on 05/22/2012 by | Brooklyn, NY | Comments

Bulletin TodaySo much of the financial news about older Americans is downbeat. More of them are falling into poverty.  A disproportionate number of older workers lost jobs in April. Will they get new ones? Don’t hold your breath. At last, welcome news: a Gallup survey finds that Americans ages 75 and older are the most likely (72 percent) of all age groups to say they feel good about the amount of money they have. Not only that, they’re the most likely …

Study: Boomers Give Up Savings to Help Parents, Kids

Posted on 05/8/2012 by | Aging, Home & Family Expert | Comments

CaregivingBaby boomers are selfless? Apparently many are, according to a new study by Ameriprise Financial. The financial group’s recent study, Money Across Generations, polls three generations: affluent baby boomers (with $100,000 or more in investable assets) along with both the parents and the children (over age 18) of baby boomers. New findings from the study indicate that baby boomers are holding off on major purchases and instead of channeling those savings into retirement accounts to support their Gen X and …

A Lifetime of Debt

Posted on 05/7/2012 by | The Ultimate Cheapskate | Comments

Money & SavingsGrowing up 40 years ago, one of my favorite pastimes was playing The Game of Life, the classic Milton Bradley board game that takes players through their simulated lives – from college to retirement – with make believe jobs, families, and other life-changers all along the way.  It was always a lot fun to play, and it gave me a chance to fantasize a little about what my own real-life future might be like. The other day I ran across …

My Mother’s Day Gift Ideas: Cheap,Yet Priceless

Posted on 04/30/2012 by | The Ultimate Cheapskate | Comments

Money & SavingsCall me “old fashioned,” or just “cheap.” But there’s definitely a wonderful connection between many old-school ways and frugality, even for those of us who didn’t learn that by living through the Great Depression. I was struck by that fact yet again when I saw a survey from, a leading online shopping site, about people’s anticipated shopping plans for Mother’s Day. I guess the good news – in terms of people not going too far overboard on spending – …