Tag: saving
Only 13 percent of older workers take advantage of the “catch-up” contributions to their retirement accounts permitted by the IRS for anyone over 50, according to new data provided by Fidelity Investments. This is hardly surprising, since prior research has estimated that only about 10 percent of all workers are contributing the maximum $17,500 per…
Determining how much money one will need in retirement is a mathematically and psychologically daunting task for many Americans. But new research has landed on a deceptively simple strategy for prodding workers to save. Employees in an experiment at the University of Minnesota saved more for retirement after researchers provided them with a personalized chart…
