Tag: saving

chinatown

Recent immigrants – whether from Mexico, Africa or China – often form groups that regularly contribute to a pool of money. Group members then take turns pulling out $500 or $1,000 in accumulated cash. These savings groups are one aspect of a pervasive underground money culture bustling beneath the surface in U.S. communities of immigrants…

Happy mature florist watering plants with garden hose in a greenhouse.

How much must 30-somethings save in their 401(k)s to prevent a decline in their living standard after they retire? No two people are alike, but the Center for Retirement Research estimates the typical 35 year old who hopes to retire at 65 should sock away 15 percent of his earnings, starting now.  Prefer to retir…