Anne Tergesen
speaker
4,485 appearances
83 recordings
1 series
first heard Jul 2017
last heard Feb 2025
Anne Tergesen’s voice in public audio — every appearance, attributed to the second.
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Appearances
Do you want to leave money to your kids?
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There's just a large number of things to consider if you really want to do that exercise correctly.
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Fidelity generally recommends that people save about 15% of their salary annually from about age 25 to about age 67.
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They recommend that level of consistent savings.
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Now, that includes an employer match.
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It could be a little bit lower than 15% from your own salary if you get a match.
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Well, people can open IRAs, and the contribution limits are much lower to IRAs than they are to 401ks, so that's a downside.
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For people who are self-employed, there's a range of 401k options.
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They can use solo 401k as one example, where they can basically open their own 401k if they want to.
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Yes.
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Or if they want to do a Roth, then they'll be taxed on it now.
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And then the money grows tax-free and they can take it out tax-free.
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A lot of it probably comes from a fear factor.
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One of the problems with the retirement savings system in this country is the defined benefit pension of old is very few people have that anymore.
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That was a way that employers would just continue to send a paycheck.
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Retirees didn't really have to do any math to figure out how much do I need to save.
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How much can I spend in order to be able to afford to keep my savings going for as long as my lifespan?
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There is a lot of anxiety in part because of inflation.
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But I think a lot of it also is just because determining how much savings you're going to need and how much you can afford to spend is that's a complicated math problem.
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And a lot of people feel inadequate to it.
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Showing 541–560 of 4,485 · page 28 of 225
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