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Houses and Cars and Savings, Oh My!

02/08/2018
By Jack Towarnicky

(Is there something wrong with workers who save up and borrow to make a major purchase?)

Throughout the past few weeks, several articles highlighted workers’ retirement saving behavior and debt. For example: 

  1. John Manganaro, PlanSponsor.com, “Pressing Financial Needs Derail Successful Savers,” January 16, 2018. Read More >>

Leaving Match On The Table: Part 1 of 2 - Connecting the Dots.

02/06/2018
By Jack Towarnicky

Yesterday morning, I ran into three dots.  Here’s how they connect (at least in my mind):

  • A full page E*trade ad in the Wall Street Journal, page B5 on February 5, shows a burrito, wrapped in foil, with a bite taken out of it. Read More >>

Another Nobel Laureate in Economics Who Is Focused on 401(k) Plans - Part 3 of 3

01/30/2018
By Jack Towarnicky

In October, we focused on Richard Thaler, the 2017 Nobel Laureate in Economic Science.   In December, we highlighted Franco Modigliani, the 1985 Nobel Laureate.  Today, we extend our thanks and admiration to Robert Merton, the 1997 winner for his work on difficult to price investments (derivatives, options, corporations, etc.). Read More >>


HSA “Chicken” or 401(k) “Nest Egg” – Which Comes First?

01/19/2018
By Jack Towarnicky

On January 4, 2018, Morningstar’s W. Scott Simon, posted an article titled “When an HSA-First Strategy Makes Sense:  Why the standard advice about the sequence of contributions to a 401(k) plan and health savings account is flawed--and must-know advantages of HSAs. Read More >>


Leveraging the Roth IRA for a (Grand)Child Born Today

12/07/2017
By Jack Towarnicky

Your Newborn Child As A Middle Class Millionaire … Someday.  Part 2 of 2.

Chris Carosa (DC Insights, Fall 2017) generously shared his thoughts on his book – From Cradle to Retirement – The Child IRA – How to start a newborn on the road to comfortable retirement while still in a cozy cradle. Read More >>


Another Nobel Laureate in Economics Who Was Focused on 401(k) Plans - Part 2 of 3

12/05/2017
By Jack Towarnicky

In October, our blog focused on Richard Thaler, the 2017 Nobel prize winner in Economics and recounted how his insights into the world of behavioral economics impacted 401(k) plans and the retirement savings industry (https://www.psca.org/blog_jack_2017_10 ). But, did you know there were two other Nobel prize winners in Economics whose work has also focused on 401(k) plans and saving for retirement? First up, Franco Modigliani, the 1985 winner of the Alfred Nobel Memorial Prize in Economic Sciences for his pioneering analyses of saving, and specifically his life-cycle hypothesis of household saving. Read More >>


From Cradle to Retirement, Diapers to Depends - Re-defining “Long Term” Investing. Part 1 of 2

11/30/2017
By Jack Towarnicky

Chris Carosa (DC Insights, Fall 2017) generously shared his thoughts on his book – From Cradle to Retirement – The Child IRA – How to start a newborn on the road to comfortable retirement while still in a cozy cradle.   

There are a myriad of definitions of what constitutes a long term investment that can be anything from 1 year to more than 10 years:

  • Investopedia: “A long-term investment is an account on the asset side of a company's balance sheet that represents the company's investments, including stocks, bonds, real estate and cash, that it intends to hold for more than a year. Read More >>

Looking For A Few “Good” Plan Sponsors

11/28/2017
By Jack Towarnicky

You’ve probably heard or seen the Marine Corps ad – “Looking for a Few Good Men.”  Well, I am starting a search for a few “good” plan sponsors.  

Many plan sponsors have themselves been searching for a payout or “decumulation” solution. Read More >>


Financial Wellness Via Your 401(k) 

11/07/2017
By Jack Towarnicky

Coming to you from Boston, at the Society of Actuaries Annual Meeting.

In a prior post, “DC Plans, Can Everyone Win?” I shared my thoughts on whether American workers could adequately prepare for retirement, and generally speaking, I think most can. Read More >>


“The mind, once stretched by a new idea, never returns to its original dimensions.”  Ralph Waldo Emerson

11/03/2017
By Jack Towarnicky

I love this Emerson quote.  Ever have one of those experiences? 

I did at the Society of Actuaries meeting last week.  The keynote speaker was Scott Page who spoke on the topic of “Cognitive Diversity.”  Professor Page is the author of the book The Difference: How the Power of Diversity Creates Better Groups, Firms, Schools, and Societies. Read More >>


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