How much are you putting into your 401(k)? I'm up to 17.5% of pay, including my company match. It's more than the recommended 12% to 15% total contribution rate, but I'm not bragging. For starters, it took me two decades to work my way up to this level. And I should be kicking in more to make up for the fact that my husband doesn't have a workplace retirement account (he's self-employed and contributes to an IRA). A recent study found that while married women have higher household earnings and wealth than their single counterparts, they're actually more at risk of seeing their standard of living decline in retirement. That's because of the way Social Security treats dual-earning households, and because two-earning couples like me and my husband often have only one 401(k) between them. Yet the worker with the retirement account usually fails to save more to compensate. So I'm trying not to make that mistake. Learn more about contribution rates in today's edition.
Best wishes,
Elizabeth
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Before he landed a gig starring in Showtime's hit show about the South Side of Chicago, Cook was a struggling single father of three.
READER INSIGHTS
As I announced on Tuesday, an exciting guest will be joining us on July 9 at 12:30 EST in our Retire with Money Facebook group! Wade D. Pfau, Ph.D., CFA., is a Professor of Retirement Income at The American College of Financial Services in King of Prussia, PA. He's looking forward to answering your questions on tax efficient drawdowns, reverse mortgages, safe withdrawal rates, and more!
I'll post excerpts here for people who aren't on Facebook. If you're not on Facebook and have a question for Wade, please send it to me at retirewithmoney@moneymail.com and I'll forward it to him. Thank you!
RETIREMENT NEWS FROM AROUND THE WEB
Treat Your Work as a Retirement Asset
Take steps around age 50 to ensure your career longevity. MORNINGSTAR
Study: Commonly Prescribed Drugs Are Tied to Nearly 50% Higher Dementia Risk in Older Adults
Scientists have discovered a possible link between so-called anticholinergic drugs, some of which treat conditions like depression and epilepsy, and an increased risk of dementia. CNN
Dressing Your Age Is an Outdated Idea. Do This Instead
Edit your closet and dress for the body you have now, a former fashion director advises. CONSIDERABLE
If Your Student Debt Disappeared, Would You Save More for Retirement?
Some Democratic candidates propose to eliminate student loans, a burden that many say prevents them from saving for retirement. MARKETWATCH
About Elizabeth
Elizabeth O'Brien is a senior writer at MONEY, covering retirement and health care. You can email her at elizabeth.o'brien@moneymail.com and follow her on Twitter at @elizobrien.
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How much are you putting into your 401(k)? I'm up to 17.5% of pay, including my company match. It's more than the recommended 12% to 15% total contribution rate, but I'm not bragging. For starters, it took me two decades to work my way up to this level. And I should be kicking in more to make up for the fact that my husband doesn't have a workplace retirement account (he's self-employed and contributes to an IRA). 
This Is How Much Workers Are Saving in Their 401(k) at Every Age. See How You Compare
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Curtiss Cook Went from Living on Kraft Mac and Cheese to Starring in Showtime's 'The Chi.' Here's His Best Money Advice
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