Tag: precautionary savings

Close-up of a car mechanic repairing a car in a garage

Without such a buffer, it’s pretty hard to save for retirement. Despite a strong economic recovery, about 40 percent of households in 2017 still said they would have trouble paying for a $400 unexpected expense.  A recent study from the Center for Retirement Research uses data from two Federal Reserve surveys – the Survey of…

Hand putting mix coins and seed into 4 clear bottles that are increasing in number of coins and size of plants

Or else people will tap their retirement savings when the roof leaks. As many of you may know, several states – California, Connecticut, Illinois, Maryland, and Oregon – are in the process of setting up retirement programs for their uncovered private sector workers.  These programs consist of a mandate on employers without retirement plans to…