Are Comfortable Retirements Becoming Extinct?

Twenty years ago, a financial advisor named William Bengen identified a disturbing trend. Retirees, who used to be able to count on Social Security and pensions, were starting to depend upon their own savings to manage retirement.   This problem is even more acute today, as companies have largely abandoned pensions in favor of 401(k) […]

What to do with your tax refund

Most Americans spend their tax refund checks: A)     buying a high definition TV B)     going on vacation C)     paying bills or pay down debt D)     savings I guessed wrong. My first guess was B. My second guess was A. Neither is correct. According to a TurboTax survey, 42% of clients surveyed last […]

Old Farmer Brown weighs in on your old 401(k) or IRA

Did you ever hear the story about Farmer Brown on his deathbed?   As his family gathered round and he was starting to fade, Farmer Brown addressed his wife of 60+ years, Lilly.   He drew a measured breath and began. “Lilly, I’ve been thinking and I have something I need to say. You’ve been with me through thick and thin […]

Is There a Downside to 401(k)’s?

In a cover story about 401(k) plans, TIME magazine wrote, “The ugly truth… is that the 401(k) is a lousy idea, a financial flop, a rotten repository for our retirement reserves.” (,9171,1929233,00.html)   While I’m not prepared to be quite so negative, there certainly can be downsides to a 401(k) that you need to know […]