Personal Finance News Wednesday 12/12

Phil's Personal Finance Tip of the Day:

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Financing Your Future/The Wall Street Journal

Getting Kids on Track If you plan to spend some time with your adult children during the holidays, point them to a new report from T. Rowe Price, TROW -0.23%the Baltimore-based mutual-funds company. In a survey of investors ages 21 to 50, researchers found that such individuals have laudable goals—72% said saving for retirement is their top financial priority—but a poor understanding of how to reach them. Many advisers recommend saving at least 15% of annual income, but about two-thirds of those ages 21 to 50 with access to a 401(k) are contributing 10% or less of their salaries to their accounts. Young investors also might be overly cautious: Fully 37% said they are refraining from investing in stocks. So go ahead: A little dinner conversation about planning for the future never hurts.

To read the entire article from :
http://online.wsj.com/article/SB10001424127887324595904578121270315482776.html?mod=WSJ_RetirementPlanning_MoreHeadlines

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