Piggy Banks May be Back in Style

Saving more or saving less?  Retired folks usually describe themselves as being on a fixed-income.  Usually, it is the three-legged retirement stool: Social Security, personal savings and a pension.  Sometimes that third leg is not a fixed pension benefit, but distributions from a 401(k) plan or an IRA account.

Former Presidential adviser, Barry Bosworth of the Brookings Institute has written A Decline in Saving: A Threat to America’s Prosperity.  The Financial Security Project at Boston College has posted a brief video of Bosworth expounding in his work.

If I’m hearing Bosworth right, he is saying that retirees better start saving again because their future may become a little lean. Listen for yourself at the FSP.BC.EDU website.

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