“If I had a million dollars, I’d be rich!” or so the lyric from the Barenaked Ladies song proclaims. But a $1 million is not the sum it used to be. A new report from GOBankingRates measures how long a million dollars would last for retirees 65 and older, state by state. It did this by multiplying the Bureau of Labor Statistics’ mean annual expenditures for that age group by a cost-of-living measure for each state...
Stay-at-home Parent Can Still Save for Retirement
Many parents make the decision that after their child is born one parent will stay at home to be with the child. Some of the reasons include saving on daycare expenses, and wanting at least one parent to bond and be with the child during those precious first few years of development. Whatever the reason, the stay-at-home parent may leave a job and lose access to certain benefits – mainly their employer sponsored retirement savings plan....