There was big news at Chez Carlino a few weeks ago.
After slogging through two years at temporary positions, where she did everything from walking dogs, taking her boss’s car to the repair shop to supervising contractors on construction of a pool, my eldest daughter landed a full-time and hopefully, permanent gig at a marketing and communications company, which incidentally were her two pursuits of study in college.
Not to temper her feelings of employment euphoria, I told her one of the first things she needed to do after signing up for company health benefits was to enroll in their 401(k) savings plan.
After outlining to her the basic principles of compound investing and explaining how if she began saving now by the time she was ready to retire she would have a sizeable sum to begin drawing from, she hopefully will take my advice and do just that.
In a remarkable coincidence to my paternal savings lecture, financial services specialist Bankrate recently released a survey which said that more Americans are saving for retirement than ever before.
That’s the good news.