Working- and middle-class families lose as much as $17 billion annually because of excessive fees and differing advice from financial advisors, according to the White House Council of Economic Advisers. To address this issue, the Department of Labor has released a new proposal that would require brokers and o
A two-part retirement security proposal could increase the percentage of private-sector workers with retirement savings from 41 percent to at least 65 percent, according to economist John Friedman of Brown University.
A majority of studies examined by the Government Accountability Office (GAO) found that most Americans will have insufficient retirement income to maintain their pre-retirement standard of living. However, several other studies reviewed by the GAO determined that most Americans will be able to accrue enough retirement income.
Only 19 percent of millennials are currently financially capable, according to a recent report conducted by researchers at the University of Kansas for New America. Financially capable means they have a savings account and have received some formal financial education.