New research: Young people should be spending their money not saving it for retirement - MarketWatch
A recent study goes against the conventional wisdom that states workers should start saving early; instead, they should be spending their money. The study used the life-cycle model, developed in the 1950s, to suggest it is not smart to live high in the years when you are working and low when you are retired; you should try to smooth out your spending. Also, the study suggests that both high and low-wage earners should spend their money rather than save. Saving for retirement is ultimately not in the best interest of many workers. Robert Powell explains how the researchers came to this conclusion. Read Mr. Powell’s article here…
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