Making thrifty decisions can become a regular habit that adds up. We all know how difficult it is to put aside money for the future when there are so many competing claims on your income. Small wonder that half of American households currently have no savings for when they stop working.
When it comes to saving for retirement, Americans love their 401(k) and other defined contribution (DC) plans. They demonstrate it with money and participation: As of late 2016, about 54 million Americans were active participants in DC plans, which collectively held more than $5 trillion in assets.
In every family, one of the most important discussions is to appoint someone to take charge of the family finances. Whether it is yourself or your partner doesn’t really matter – whoever takes on the role recognizes that the financial stress will be a constant challenge and they have to take responsibility for navigating the waters and keeping the ship afloat.
