| Episode 6 of Charles Schwab's financial news video series, :60 Second in Money, uncovers money secrets, from where people stash their cash for safe keeping to hiding bonuses and banking transactions from significant others. See below for the script in full. Hello, and welcome to this week's ":60 Seconds in Money," --a quick look at money-related news items we think are worth sharing. From Charles Schwab, I'm Mike Cianfrocca. SmartMoney.com reports that more Americans are stashing cash in their homes. Many are using safes, but some are using high-tech beds, with secret compartments. It's usually a good idea to sleep on important money decisions, but not the money itself. And apparently some people are not just hiding money from thieves. They're also hiding it from their spouses. According to a CNN Money survey, 7% have kept a work bonus or lottery winnings under wraps, 4% have secret savings or retirement accounts and another 4% have withdrawn a significant sum from a joint account on the sly. Ah, marriage! And none of these "savings" techniques seem to help people get ready for retirement. According to our Tweet of the Week from CNN correspondent Ali Velshi, 26% of workers expect to retire at age 65. But only 9% actually do. I like to think that's because people enjoy work and don't want to stop. But maybe they've just misplaced the code to their safe. All kidding aside, Schwab can give you suggestions on places other than mattresses to stash your cash and help you put ... |
