Ep 128: New And Different Ways To Save For Retirement — That Actually Work

HerMoney with Jean Chatzky

Jean Chatzky Her Money

Investing, Business

4.7 • 1.5K Ratings

🗓️ 26 September 2018

⏱️ 36 minutes

🔗️ Recording | iTunes | RSS

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Summary

The fear that you'll run out of money in retirement is big and real and daunting. Which is why we're always excited to hear about it when someone — somewhere — has a new idea to help us conquer the challenges of making our money last. This week's hero: Morningstar's Head of Behavioral Science, Dr. Stephen Wendel. He outlines how a handful of modest (and specific!) changes, when made simultaneously, can amount to much bigger nest eggs. So, calm your retirement anxieties — and geek out on the research — with us. Then, in Mailbag, we’re discussing 401(k) rollovers, the 5-year rule on Roth IRAs and having a dedicated savings account for healthcare. And in Thrive, how to budget with a cash-only diet. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	You're listening to an airwave media podcast.
0:04.0	Her money is made possible by Fidelity Investments.
0:14.0	Together, we're encouraging you to always be in the front seat when it comes to your money.
0:19.0	Discover how at Fidelity.com Front Seat.
0:23.0	Her money comes to you through PRX. Hey everybody it's Jean Chatsky. Welcome to Her Money.
0:40.0	So how are you feeling about your retirement savings?
0:44.6	Not to open the show with a thud or anything,
0:47.0	but we know that so many Americans are fearful
0:51.2	that they're not on track.
0:53.0	Many are afraid they'll run out of money in retirement.
0:57.0	Many are wondering whether they'll be able to even retire at all.
1:02.0	We've got some new research from Morningstar that shows
1:05.6	only about a quarter of working American households are on track to have what they
1:11.8	need for retirement.
1:13.0	But what about the other 75%?
1:15.0	That is why today we are discussing strategies,
1:20.0	we're discussing solutions,
1:22.0	and we're doing it with the head of behavioral science at
1:26.8	Morningstar Dr. Steve Wendell and Steve is a behavioral social scientist.
1:33.8	He studies specifically how digital products
1:38.2	can help individuals manage our money more effectively.
1:43.2	He's also the author of a couple of books,
	...

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