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Article:

Why Everything You Know About Saving Money is Wrong

Buying Small "Luxury Items" Isn't the Reason You Live Paycheck to Paycheck

Why is This Happening?

Q: What, from your research, are the forces making it harder to successfully save for retirement?

"First, there’s the point that a lot of us can’t really afford to save for retirement. Half the population is living paycheck to paycheck. I refuse to believe that the entire country went on a collective bender. The costs of education, health care, housing keeps going up. 

The other part: The financial services industry is taking a chunk of our savings. If you do have a 401(k), before 2012 you had no right to know how much it cost you to have that 401(k). There is money being siphoned off for various fees. This is all a huge problem."

 

  • Sarah Shemkus

    Sarah Shemkus is an award-winning freelance journalist, marketing enthusiast, accomplished baker, occasional globetrotter and total nerd (with a particular fondness for spreadsheets). Most recently, she reported on business and real estate … Read more...