savings

Millennials, those aged 18 to 35, are terrible at saving money for retirement. That age group is the only one with a negative savings rate. 

According to new data from Fidelity Investments, the average 401(k) balance hit a record high of $91,300 at the end of last year. Yet roughly one-third of all U.S. families have no money set aside for retirement, Federal Reserve data shows. This includes 19 percent of people aged 55 to 64. Joining us to provide information on 401(k)s and other retirement accounts are financial advisor Chris DeSimio, and from Madison Wealth Management, Managing Principal and Portfolio Manager Ed Kuresman and Principal and Senior Wealth Advisor Joseph Hack.

Having a smart phone, a tablet, an e-reader and more costs a lot of money and it’s more than just the purchase price. In this week’s Focus on Technology, Ann Thompson reports on how to stay connected and stay within your budget.