retirement savings

As Gen-Xers hit middle age and start thinking more seriously about retirement planning, the warnings they're hearing about how far behind they are may make their situation sound more dire than it is.

By Kimberly Lankford, Kiplinger If you have a refund check coming your way, consider using it to bolster your personal balance sheet. The average refund has been around $3,000 for the past two years. (Most people receive their refund within three weeks of filing their returns.) That's a nice...

Concerns about job security and piles of debt have left American workers more pessimistic about retirement than ever. And many should be concerned: About 60% report total savings and investments of under $25,000 (excluding the value of their home and defined benefit plans.)

Last year, the Social Security Administration warned that the program's trust fund was likely to run out of money in 2036, leading to deep cuts in benefits. Now, the Congressional Budget Office says that projection may have been too optimistic.

A few weeks ago, we asked DailyFinance readers for their best tips for putting your financial house in order. Many were quick to note that the foundation of financial security lies in being ready when disaster hits. Here are some of their best suggestions for planning for those rainy days.

$1 million is a lot of money, but assuming that should be your retirement funding goal can be dangerously simplistic. So before you spend the next few decades over- or under-saving, assess whether $1 million is enough -- or too much -- to fund your plans.

Many companies have done away with pensions, replacing them with 401(k) plans and related options that put responsibility for retirement saving squarely on you. But those same corporations have also been pushing to keep you in the dark about the plans' costs.

More ominous developments on the darkening retirement front: The total value of Americans' retirement assets stood at $17 trillion at the end of September -- a drop of 7.5% from the record high of $18.4 trillion recorded on June 30, 2011.

Boo! It's the season of ghosts and goblins, when we like to scare ourselves and each other. But while Halloween frights are generally lighthearted and short-lived, there are some truly scary facts out there regarding our finances -- ones we'd do well to know about and beware of.

A 52-year-old single mom needs to save for retirement, but her cash flow is strangled by rising student loan payments for herself and her sons. How can she minimize her loan payments and free up cash for retirement savings? DailyFinance's Laura Rowley offers some tips.