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You're probably losing $155K from 401(k) plan

A two-income American family with an average income that dutifully invests in a 401(k) plan using typical strategies will lose $155,000 – or about 30 percent of what they should have saved for retirement -- to Wall Street fees, according to a study by an economic justice advocacy organization.

 

Consumer spending fizzles in December, savings up

Consumer Spending

Consumer spending was flat in December as households took advantage of the largest rise in income in nine months to boost their savings, setting the tone for a slowdown in demand early in 2012.

 

3 ways to get more return on your savings

Today's seniors can't just stay in today's low-return fixed-income products because rates on money market accounts and CDs won't even keep up with inflation. But there are options.

 

Cheap Debt for Corporations Fails to Spur Economy

Companies keep saving the money they’ve borrowed at low rates as they wait for the economy to improve, but it is unlikely to improve if they keep saving.

 

Obama Report: 95, 000 Jobs to Come Each Month

Obama Report: 95, 000 Jobs to Come Each Month

The United States is likely to average 95,000 more jobs each month this year, while personal savings will remain high as credit remains tight, according to a White House report released Thursday.

 

6 simple ways to save energy at home

6 simple ways to save energy at home

Make a few easy changes around the house for substantial savings.

 

Split CDs into Smaller Parts to Avoid Withdrawal Fees

Certificates of Deposit are fairly easy to lock into these days, but pulling your money out before your slightly-better-than-savings fund is due can eliminate all the benefit. One personal finance...

 

Five Highest-Yielding Online Savings Accounts

These savings accounts offer high interest rates and don't require a lot of cash to get started.

 

$1M in life savings tossed out in a mattress

$1M in life savings tossed out in a mattress

A woman in Tel Aviv, Israel, gave her elderly mother a new mattress as a surprise gift, throwing out the old tattered bed her mother had slept on for decades. The gesture ended up bankrupting Annat's mother, who had stuffed her savings of nearly $1 million inside her old bed for decades, Annat told Israel Army Radio.

 

Expected Madoff plea troubles victims

Some former customers of financier Bernard Madoff despise him for his fraud, but they are also angry with their government and a financial system they say robbed them of their savings.

 

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