A 50-Year Plan for Retirement Savings

Contributing to your grandchild's Roth IRA could be a do-it-yourself solution to the impending Social Security crisis.

(Image credit: Copyright)

Ric Edelman likes to think big. He founded a nationwide financial-planning firm. He hosts a weekly radio show. He has written several best-selling books on managing money. He’s ubiquitous on PBS with shows such as The Truth About Retirement. And, in his spare time, he has crafted a plan to solve the impending Social Security crisis. It’s simple, he says, thanks to the powerful force of compound interest.

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Kevin McCormally
Chief Content Officer, Kiplinger Washington Editors
McCormally retired in 2018 after more than 40 years at Kiplinger. He joined Kiplinger in 1977 as a reporter specializing in taxes, retirement, credit and other personal finance issues. He is the author and editor of many books, helped develop and improve popular tax-preparation software programs, and has written and appeared in several educational videos. In 2005, he was named Editorial Director of The Kiplinger Washington Editors, responsible for overseeing all of our publications and Web site. At the time, Editor in Chief Knight Kiplinger called McCormally "the watchdog of editorial quality, integrity and fairness in all that we do." In 2015, Kevin was named Chief Content Officer and Senior Vice President.