A recent study by the JPMorgan Chase and Company Institute endeavored to answer the question of how much savings a typical household needs in order to weather the average monthly fluctuations in income and consumption it experiences. Below are their results for 5 different income quintiles...

Every household knows that there are 2 sides to a budget – what comes in (income) and what goes out (expenses). In its simplest form, the Federal budget works in the same manner. In this case what comes in (taxes paid by individuals and businesses) pays for expenditures such as Social Security, Medicare, and other spending by all US Departments. The goal of a fiscally responsible “household” is to make sure that income meets, and even better exceeds, expenses...

Last week’s post centered on the alarming fact that a majority of Americans have $250,000 or less saved for retirement. If you consider that, using the 4% rule of thumb, $250,000 would net you ~$866/month over a 30-year retirement, most may be woefully under-saving. If you’re looking for ways to boost retirement savings, this article could be of help. Fidelity recently updated a survey detailing the 5 habits of workers who have been able to amass a $1 million fortune in their 401(k)s.

How big is your retirement nest egg compared with most people's? Only 14% of workers have $250,000 or more saved for retirement, according to a new survey by the Employee Benefit Research Institute and Greenwald & Associates.

The other 86% of workers who were queried have smaller amounts of retirement savings. Thirty-eight percent have less than $50,000...