The #FridayFive: Setting Up for Success, a Tale of Savings, Budgets, & More.
Do you follow @AmericaSaves on Twitter? If not, it’s likely you’ve missed out on some great articles or blog posts from the past week related to personal finance, savings, or news from America Saves and its campaigns. ICYMI, we share with you each Friday the top five pieces that highlight important topics for savers and partnering organizations.
This week’s #FridayFive are:
1. Earlier this week, we shared with you the infographic released by University of Illinois Saves showing a summary of their 2014 Campus Competition (in coordination with America Saves Week). Not only did they get hundreds of new participants, but they provided insights about saver goals, participation demographics from the three campuses, and more. If you haven't already, definitely hop over to Monday's blog to check out their graphic.
2. Whether you're a seasoned professional, nearing retirement, or just starting your first job, the topic of retirement savings can bring up more questions than answers. In this article, Lisa Aberle addresses retirement savings, percentage contributions, methodology, diversification, and more. Check out the Fox Business link below or the original article here: http://www.getrichslowly.org/blog/2014/06/30/dissecting-retirement-savings/.
3. CNN Money says that raiding the retirement fund means that you're not only taking from your current savings balance, but from any higher compound returns that those funds would gain over time. Bottom line? Borrowing from the 401(k) might be quick and easy, but it does more harm than good in the long-run.
4. Stepping into your first full-time job? The Wall Street Journal has some helpful tips for must-dos in your first five years! Though this advice is just as applicable for those of us later down the road as well.
5. In WiseBread's #WBChat this week, we discussed the ins-and-outs of budgeting. In this tweet, Leslie reminded everyone of something that is at the heart of America Saves's mission: the importance of goal-based savings. Check out the chat transcript here: http://www.tchat.io/rooms/wbchat.
And if you haven't checked this out already, here's a little bonus:
Thanks for joining us for this week's #FridayFive! We’ll see you here next week.
- Written by Tammy G. Bruzon
- Category: Blog
- Published: 18 July 2014