6 months, 3 weeks ago

Despite having no investments, Tim Walz will be fine in retirement. What about the rest of us?

Democratic vice presidential nominee Tim Walz's finances made headlines after his financial disclosures showed he owns no stocks or bonds. "The employer will pay into a pension as you're working," said Pamela J. Sams, financial adviser and chartered retirement planning counselor at Jackson Sams Wealth Strategies. "I think, for the most part, when people have pensions, they feel a little bit more secure, and they really don't seek outside investments as much," Sams said. We need your help to stay independent Subscribe today to support Salon's progressive journalism From pensions to 401s "Most people now have what they call a defined contribution plan, which are 401s, 403s, 457s, things like that where the onus is basically on the participant or the employee to make those contributions," Sams said. Americans aren't saving enough for retirement For years, the concept of a well-rounded retirement plan focused on the "3-legged stool metaphor."

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Security Retirement Social Pension Social Security Fine Plan Think Americans Social Security Benefits Casey Sams Defined
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