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I've seen a number of recent articles trashing the 401(k) as a retirement savings vehicle. Clearly, there are problems with how effectively people use 401(k)s. But advocating for more company pensions or lifetime income annuities from insurance companies won't take the risk out of saving for retirement. In fact, these options may create bigger risks that you can't control.
The giant nonprofit offers multiple financial products, but are they any good? First under the microscope: AARP's $202 million mutual-fund family.
If you're like most investors, your 401(k) plan has probably taken a beating over the last 18 months. Maybe the problem is the people managing your mutual funds just aren't that smart. If you used smarter people, you should get better results. Right?
MoneyWatch's Jill Schlesinger does the math for you -- and explains how you can protect against unpleasant surprises.
As a sendoff into the 4th of July holiday, June's rise in unemployment to 9.5% was plenty discouraging. The gloom was pretty well crystallized in this New York Times op-ed by Bob Herbert, which quoted the Center for Labor Market Studies at Northeastern University in Boston, as saying that if you mea...
With workers stressing over their retirement plan balances, more people are calling for a return to some form of traditional employer sponsored pension or lifetime income guarantee. Let me break this to you gently: it's not going to happen. While policy wonks and commentators may debate it, the vast majority of employers have no stomach for it. You need to accept that your retirement is your responsibility, and plan accordingly.
President Obama recently proposed creating a new Consumer Financial Protection Agency to help protect consumers from aggressive financial transactions. I don't know whether we need another federal agency, but what I can tell you is that the basic rule for personal finance is simpler is better. When transactions get complicated, you're probably reaching for something you can't afford or someone is pushing you into a high cost product. Either way, it's generally a bad deal.
One of the more chilling revelations on the sorry state of the U.S retirement system is this survey of employer attitudes towards 401(k)s from Mercer, the benefits consulting firm. Half of employers offering 401(k) plans believe that the plans are not up to the job that's been thrust upon them--that...
Yes, it's possible — if you make a few smart moves while you're working and reconsider where you'll live once you stop.
As the default retirement plan of the United States, the 401(k) falls short, argues CBS MoneyWatch.com editor-in-chief Eric Schurenberg. He tells Jill Schlesinger why the plans don't work.
The personal savings rate jumped to 6.9 percent in May, according to the Bureau of Economic Analysis. While there is much debate about how to accurately measure household savings, clearly people are spending less. The question is, are you actually saving more? It's one thing to stop spending, but it's another to have a strategy for the cash you aren't spending. Without a strategy, you'll likely find that your thrift hasn't translated into a higher net worth.
While the national median home price is not expected to climb much, if at all, in the next five years, there will be lots of movement at the local level.
The real estate bubble was one of history's great financial mass delusions, and the market will take years to recover. But some buyers will do very, very well.
The "new frugality" sounds like a passing trend, but it looks like America is in for a real cultural shift. MoneyWatch.com editor-in-chief Eric Schurenberg explains the changes in store for us.
Get over that image of Americans as debt-ridden consumption addicts. The Great Recession will teach us to find better things to do with the time and money we have left — at least for now.
The U.S. carried out retaliatory strikes against Iran on Friday after Iranian forces hit a cargo vessel in the Strait of Hormuz a day earlier.
The twin earthquakes that hit Venezuela killed more than 900 people, and that toll is likely to keep rising as frantic rescue and recovery operations ramp up.
Abdikerm Eidleh, accused of playing a key role in the Feeding Our Future fraud scheme, was arrested in Somalia after more than four years, federal officials said.
Michigan State Police said law enforcement and Child Protective Services confirmed a report against Pete Buttigieg was unsubstantiated and false.
A California appeals court has upheld Harvey Weinstein's 2022 rape and sexual assault conviction.
The reading list will take effect starting in 2030.
The defense team for Tyler Robinson asked that the death penalty be taken off the table following public comments by prosecutors.
In "Regime Change, Inside the Imperial Presidency of Donald Trump," Maggie Haberman and Jonathan Swan describe his fundamentally different approach to running the country.
The heaviest demand on America's water supply isn't data centers or AI. It's from everyday uses such as growing food, watering lawns and flushing toilets.
Wynola Wayne received a special retirement send-off after 58 years as a nurse. One former patient, Marco Houpe, said, "If it wasn't for her then, I wouldn't be here today."
Data from FlightRadar24 showed the plane was no more than 25 feet above the ground during the low pass as it approached the Horseshoe Bay Resort Jet Center airport.
A California appeals court has upheld Harvey Weinstein's 2022 rape and sexual assault conviction.
Michigan State Police said law enforcement and Child Protective Services confirmed a report against Pete Buttigieg was unsubstantiated and false.
The race to build AI data centers is leading to a global shortage of memory chips, driving up the cost of personal electronics.
The race to build AI data centers is leading to a global shortage of memory chips, driving up the cost of personal electronics.
Countries that tax U.S. companies offering digital products and services would immediately face a 100% tariff on their exports to the U.S., President Trump said.
The Modigliani painting "Nu assis au collier" (Seated Nude Wearing a Necklace) sold for $63.9 million, the highest price achieved for a work by the artist sold at auction in Europe, Sotheby's said.
Apple is raising the prices of some MacBooks and iPads, while Microsoft is raising Xbox prices as semiconductor costs surge.
Technology companies are betting trillions of dollars that consumers will open their wallets for AI services. But what if Big Tech is wrong?
Michigan State Police said law enforcement and Child Protective Services confirmed a report against Pete Buttigieg was unsubstantiated and false.
The U.S. military says it hit Iranian targets over Iran's drone attack on a commercial vessel in the Strait of Hormuz, marking the first American strikes on Iran since the two countries formally agreed to extend a ceasefire last week.
Countries that tax U.S. companies offering digital products and services would immediately face a 100% tariff on their exports to the U.S., President Trump said.
U.S. lawmakers recently grilled Jeffrey Epstein's longtime assistant Lesley Groff about Epstein's use of American Express to book travel for multiple women or girls.
In "Regime Change, Inside the Imperial Presidency of Donald Trump," Maggie Haberman and Jonathan Swan describe his fundamentally different approach to running the country.
A trove of emails offers a new look at how the Centers for Disease Control and Prevention navigated some of the most controversial decisions of President Trump's second term.
American tennis legend Chris Evert announced that her ovarian cancer had returned in a social media post Thursday.
Some Senate Democrats want to cap the amount beneficiaries in traditional Medicare have to pay toward care, but the move is expected to draw GOP opposition for potentially adding billions to Medicare costs.
Medicare is testing the use of artificial intelligence to preapprove several healthcare services.
Confirmed Ebola cases in the outbreak in eastern Congo have reached 1,003, including 254 deaths, officials said, and tracing those who've been in contact with patients remains a major challenge.
The U.S. military says it hit Iranian targets over Iran's drone attack on a commercial vessel in the Strait of Hormuz, marking the first American strikes on Iran since the two countries formally agreed to extend a ceasefire last week.
Nicholas Rossi, 38, was serving at least 10 years in prison in Utah following his convictions in 2025 in two sexual assault cases.
Investigators initially suspected food poisoning, but that was quickly dismissed after Turkish media reported that their hotel was dealing with a bedbug infestation.
President Volodymyr Zelenskyy says Ukraine will ramp up attacks on Russia in an operation "aimed at compelling it to end the war."
An 18th-century archaeological dig uncovered a library of intact but charred scrolls. Their contents have been unreadable until recently.
A California appeals court has upheld Harvey Weinstein's 2022 rape and sexual assault conviction.
For the United States' 250th birthday, Sunday Morning asked dozens of notable Americans, from Jason Alexander and Ken Burns to Misty Copeland, what they considered to be our country's essential songs. This is the Essential American Songbook: 90 contributors and 250 songs. Here's a sample.
Comedian and entertainer Druski will host the BET Awards on Sunday. At 31, he's the youngest host in the show's history. He gave "CBS Mornings" co-host Nate Burleson a preview of what to expect.
In the lead-up to America's bicentennial in 1976, CBS aired brief segments featuring well-known figures of the time describing moments from early U.S. history. CBS News chief Washington correspondent Major Garrett introduces clips featuring legendary actors William Holden and Joseph Cotten.
The New York Times is reporting that Taylor Swift and Travis Kelce might tie the knot at Madison Square Garden. She has reportedly booked out the arena for the Fourth of July weekend, the rumored wedding date.
California now has the nation's first dashboard to publicly track artificial intelligence-related job trends, ones created and ones lost. As of now, early findings show no evidence of rising statewide unemployment from jobs exposed to AI. Till von Wachter, a faculty director of the California Policy Lab at UCLA, joins "The Takeout" to discuss.
The race to build AI data centers is leading to a global shortage of memory chips, driving up the cost of personal electronics.
From labor shortages to environmental impacts, farmers are looking to AI to help revolutionize the agriculture industry. One California startup, Farm-ng, is tapping into the power of AI and robotics to perform a wide range of tasks, including seeding, weeding and harvesting.
Apple and Microsoft announced they're hiking prices for some electronic products, including computers and XBOX consoles, citing a shortage of memory chips. CNET editor-at-large Scott Stein weighs in.
The heaviest demand on America's water supply isn't data centers or AI. It's from everyday uses such as growing food, watering lawns and flushing toilets.
The featherweight pair — orbiting a star 1,110 light-years away — are the biggest exoplanets found to have less density than cotton candy.
Human and animal remains unearthed in Egypt's Nile Delta reveal changing funerary practices over some 600 years, and the evolution of a key site itself.
Euclid is on a mission to chart one-third of the sky in the hopes of shedding light on the enduring mysteries of dark matter and dark energy.
Exactly where the comet 3I/ATLAS came from within the Milky Way remains a mystery.
Hosted by Lee Cowan. Featured: Birthright citizenship; the Theodore Roosevelt Presidential Library unveiled; Shooter Jennings releases recordings by his father, Waylon Jennings; comedian John Mulaney; childhood obesity; and the secrets of seahorses and seadragons.
Billionaire Leon Black testified before the House Oversight Committee on Friday. After Black ended the interview, the committee issued two subpoenas. Democratic Rep. Suhas Subramanyam of Virginia, a member of the House Oversight Committee, joins "The Takeout" to discuss this and the U.S. strike on Iran.
Abdikerm Eidleh, accused of playing a key role in the Feeding Our Future fraud scheme, was arrested in Somalia after more than four years, federal officials said.
A judge declared a mistrial in the case against a man accused of starting a fire that grew into the deadly 2025 Palisades Fire. The jury was deadlocked during deliberations. CBS News Los Angeles has more.
Nicholas Rossi, 38, was serving at least 10 years in prison in Utah following his convictions in 2025 in two sexual assault cases.
The defense team for Tyler Robinson asked that the death penalty be taken off the table following public comments by prosecutors.
The featherweight pair — orbiting a star 1,110 light-years away — are the biggest exoplanets found to have less density than cotton candy.
Euclid is on a mission to chart one-third of the sky in the hopes of shedding light on the enduring mysteries of dark matter and dark energy.
Exactly where the comet 3I/ATLAS came from within the Milky Way remains a mystery.
The "Pink Planet," formally known as GJ504b, was discovered in 2013 and is technically not a planet but rather a "planetary-mass companion."
NASA's Jared Isaacman says the crew was selected solely based on their experience, expertise and availability for flight assignment.
The Obama Presidential Center, museum and library opens in Chicago with a star-studded grand opening ceremony and public watch party on Midway Plaisance.
A look back at the esteemed personalities who've left us this year, who'd touched us with their innovation, creativity and humanity.
Summer is the time to enjoy live music, indoors and out. Scroll through our gallery of some of 2026's leading musical acts, featuring images by CBS News photojournalist Jake Barlow and photographers Ed Spinelli and Kirstine Walton.
Family seeks answers in death of newlywed who disappeared in 2005 while on Mediterranean honeymoon cruise.
Meet the tattooed beauty charged in the death of Google executive Forrest Hayes.
Steve Hartman goes "On the Road" with the story of a beloved nurse who got no ordinary retirement send-off after 58 years on the job.
After spending two weeks on the loose, a giraffe named Gracie was spotted Friday just miles from the Texas ranch she escaped in the Texas Hill Country. Mark Strassmann has more.
The U.S. Men's National Soccer Team suffered its first loss of the 2026 World Cup Thursday night, but will still advance to the knockout round to face Bosnia and Herzegovina on Wednesday. Nicole Valdes has more.
The U.S. struck back at Iran Friday after an Iranian drone attack on a cargo ship Thursday in the Strait of Hormuz. CENTCOM said U.S. aircraft hit Iran's missile and drone storage locations. Nikole Killion reports.
Red flag wildfire warnings were posted Friday in eight states from the Pacific Northwest to the Desert Southwest, with gusts of dry air creating blowtorch-like conditions. Carter Evans reports.