When it comes to retirement savings, there’s good news, bad news, and more bad news. The good news is that most Americans today have access to a workplace retirement plan, such as a 401(k). A 2017 Pew analysis of U.S. Census Bureau data found that 53% of all workers over age 22 have a defined-contribution plan available,…
The only constant in life is change. But it’s shocking how quickly the notion of retirement has changed in recent memory. A century ago, there was no Social Security, Medicare, or health insurance. Pensions didn’t take off in the private sector until the Internal Revenue Act of 1921 made pension contributions tax-deductible for corporations. Fast-forward…
Every few months, it seems, yet another study comes out warning that Americans aren’t saving enough for retirement. Each study is followed by a flurry of tsk-tsking articles urging people to put more money into their 401(k) plan or other workplace retirement plan. That’s sound advice for most people, but for freelance workers, it’s not much help.…