What the experts say

Are you oversaving?; Stashing your emergency cash; Smart career moves for 2014

Are you oversaving?

Believe it or not, it’s possible to put too much away for retirement, said Mandi Woodruff in Yahoo.com. According to new research from Morningstar Investment Management’s David Blanchett, our “retirement prospects aren’t as bleak” as everyone says. He takes issue with the “80 percent replacement rule,” which urges retirees to replace that much of their pre-retirement income. By his analysis, that formula “could lead some workers to oversave for their golden years by as much as 20 percent.” That’s no excuse, however, for splurging on “a Caribbean cruise with your IRA money.” The fact remains that “most Americans aren’t saving enough for retirement.” But figuring out how much to sock away “will require a lot more planning than punching a few numbers into a calculator.”

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