What You Need to Teach Your Kids About Money

Consider this: The average 40-year-old American has less than $10,000 saved—for anything. The median balance in any type of retirement plan was only about $27,000 at the end of 2012. Americans' savings rates have dropped in the last generation, while our consumer debt has skyrocketed. In 1980, the statistics were much more favorable. So what's happening?