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A lot of you are scratching your heads about your 401(k), when you bother to think about it at all.

Most of you just don’t want to be bothered by your 401(k) plans even though you’ve signed up for them.

Although employers have been giving employees lots of paper work on these plans, providing education about them, and in many cases matching what workers put in, most workers aren’t taking full advantage of 401(k)s at work, according to two studies released this week by Schwab Retirement Plans Services.

About 54 percent of workers aren’t getting the most out of their employer-sponsored retirement investments, found one study by CFO Research Services, commissioned by Schwab, which surveyed 200 senior finance and human resources executives at large and mid-sized companies.

What’s driving the 401(k) apathy?

“Retirement planning is off in future, therefore it doesn’t get the time or attention it needs,” said Dave Gray, vice president of 401(k) client experience at Charles Schwab.

Many employees feel too busy and too financially ignorant to manage 401(k)s, found the other Schwab study, conducted by Koski Research. The study polled more than 1,000 workers enrolled in such plans nationally and found:

•  More than half (52 percent) say they don't have the time, interest or knowledge to properly manage their 401(k) portfolio.
•  Nearly three-quarters (73 percent) spend less than eight hours per year managing their 401(k) plan account.
•  Many (56 percent) do not review plan-related education materials they receive.

"It's not a good idea to neglect your 401(k) but you don't want to micromanage it either," advised Greg McBride, senior financial analyst for Bankrate.com.

"The 401(k) is the primary vehicle for retirement savings for a majority of people working today," he explained. "This is long-term savings and it does pay to regularly revisit the account for purposes of rebalancing investments and making sure your investment strategy is still consistent with your goals and time horizon."

To combat the investing indifference, employers plan to boost their outreach to workers, including everything from printed materials to workshops, the CFO study found.

Are you in danger of losing unemployment benefits?

Clearly, not paying attention could do you future financial harm. Nearly one third of those surveyed said they didn’t even know about the fees they’re being charged in association with their plans.

You might think it’s better just to pull the plug on your 401(k) because you’re not getting the most out of it, or you could end up making poor investment choices, but Gray warned against that.

“I think any savings is better than no savings,” he maintained.

So, are you managing your 401(k), or is it on autopilot?

Baby Boomers have a lot of bills to pay these days. Most of those bills aren’t theirs.

They’re helping to pay medical and utility bills for their aging parents, and even buying groceries for their moms and dads. And on the flip side, they’re chipping in for everything from car insurance to rent payments for adult kids they thought flew the nest.

All these handouts are creating uncertainty among the boomers about what the future holds for their own financial well-being, according to a report by Ameriprise Financial released this week. 

The study, titled “Money Across Generations,” surveyed more than 1,000 affluent boomers, 300 parents of boomers, and 300 children of boomers, at least 18 years old, by telephone, and found tougher economic times all around for every generation. But the Baby Boom generation of about 77 million and born roughly between 1946 to 1964 is stuck between a family rock and an economic hard place. 

“Boomers are feeling the pressure financially and emotionally,” said Suzanna de Baca, vice president of wealth strategies at Ameriprise Financial. “In many cases they’re sandwiched between children who are unemployed or struggling to pay down their student loan debt and aging parents who are facing complex health and financial issues. At the same time, they’re trying to prepare for their own retirement.”

About a quarter of boomers surveyed said they were saving for retirement, compared to 44 percent who were doing that in 2007, the last time this poll was taken.

And  because of the financial pull from both parents and kids, twice as many boomers are focusing on clinging to the retirement funds they already have, up from 12 percent in 2007.

“Family and personal values are important when making any kind of decision, but it can be difficult to prioritize our family members’ needs against our own,” de Baca said. “Unfortunately, unconditional financial support can threaten or even sabotage retirement goals and security. It’s important to have open conversations with your family about your current financial situation and evaluate your ability to meet your own goals before offering any kind of support.”

Here are some more findings from the study on what boomers are doling out:

• 58 percent of boomers reported helping parents in some way with purchasing groceries (22 percent) or paying medical expenses (15 percent) and utility bills (14 percent).
• 93 percent said they provided financial support for their adult kids, including college tuition or loans (71 percent), allowed them to move home and live rent-free (55 percent) or helped them buy a car (53 percent) and auto insurance (45 percent).
• 34 percent said providing financial assistance to their kids has slowed down their contributions to retirement savings, and 10 percent said aiding parents is keeping them from squirreling away.

While most boomers don’t regret backing their adult kids financially, they’re not sure all this financial handholding has helped their offspring prepare for the future. Nearly half of those polled said, “they worry that their children do not understand what it takes financially to prepare for retirement, and 35 percent express concern that their children have not learned responsibility when it comes to money.”

Is it time to cut the kids off?

Related stories:

 Delaying retirement for our families
 Gen Y’s upbeat thanks to mom and dad
 Moving in with your parents isn’t that bad 

Farnoosh Torabi

This is the season when college acceptance letters start coming in the mail and lots of families are trying to figure out how to pay the hefty tuition costs.

With annual in-state tuition costs for public colleges averaging more than $8,000, and private school costs topping $28,000, reports CollegeBoard.org, the thought of covering such an expense can seem hopeless, especially to parents facing budget constraints already.

But never fear, stressed Farnoosh Torabi, personal finance expert, author of “Psych Yourself Rich: Get the Mindset and Discipline You Need to Build Your Financial Life”, and host of "Financially Fit" on Yahoo, who was on hand Wednesday to take online questions from readers during our weekly live chat.

“There is hope if you're willing to be flexible and not rush into the whole college thing,” she said.

“Saving money takes preparation and it takes thinking outside of the box,” she explained. “I will be the first to say that your child doesn't need to head to college right away - especially if the money isn't there. Taking a year off to work, save or enhance your resume with volunteering experiences can boost your chances of not only getting into a good school, but paying for it.”

For those who don’t want to wait, she said, two-year community colleges can be a good starting point. “Smart, talented students are flocking to community college to earn credits, save money and later move over to a full-time 4 year institution,” she noted.

Torabi also weighed in on the question of whether parents should be saving at all for their kids’ education, a topic covered by reporter Allison Linn Wednesday. 

“Some parents see college as a great gift to their children - and if you feel strongly about making this a financial priority, that's great,” she said. “But don't kill yourself trying to send your children to college. Do what you can. Be realistic and involve your kids in the reality. One thing is true, when children bear some of the cost, they tend to appreciate the education more and recognize the value a lot more.”

You can read the full Q&A with Torabi here:

There’s an awkward pause that happens right after you ask your boss for a raise. 

What ever you do, don’t say anything.

“Silence is a power leveler,” said Selena Rezvani, negotiation expert and author of the recently released “Pushback: How Smart Women Ask--and Stand Up--for What They Want,” during our live Web chat Wednesday.

“Silence is one of the most under-used tactics in a negotiation,” she pointed out. “I'm talking about using this strategically. For example, being quiet right after you make your request, and being quiet again for a few seconds when you get your answer.”

Asking for more money is one of the toughest things employees have to do, but now may be the best time because many employers are handing out more pay raises. 

Rezvani offered advice on how to ask for everything from a raise to more vacations time during our live Web chat. Here’s a sampling of her answers to readers questions:

Renee asked:

“I have been at my job for two years and have never had a raise even mentioned to me. I feel I am valuable to my company with all I contribute. Fellow employees have told me that our company rarely gives raises, some have even said they wait 4 years for a raise. How can I approach my boss about this?”

Rezvani answered:

“First off, don't wait to be asked about your raise! It's best if you bring it up. I am not a fan of waiting until review time... If you have a strong case, make it anytime of the year, but preferably right after a big accomplishment.

“Also, don't be frightened out of asking for a raise just because no one else is doing it or "it's not done around here." If anything, there is less of a trend toward rewarding every employee the same exact way. Show why you specifically deserve this raise and how you can contribute at even higher levels in the future.”

Jay asked:

“How do you negotiate with an employer for more vacation time when they say it is non-negotiable during an interview?”

Rezvani answered:

“Vacation time is often negotiable - even when people say it's not. It all depends on how much they want you. If it's something you're emphatic about, tell them. But have an alternative or second-best outcome if they continually push back.

“Come up with options. If you're first choice is 30 vacation days, ask for that first. If they push back, try 28 days with reimbursement for a $1,000 training course. Your third option could be 25 days, a training course, and something else of value to you.”

For more of this enlightening discussion and targeted tips for employees trying to negotiate better, check out a replay of the Web chat here:

Today Money financial expert David Bach joined us for a live Web chat Wednesday to answer your questions.

Here’s one of his answers to questions from the live chat. (See below for the full Q&A and video of David’s TV appearance this morning.)

Janine asked:

“Just came into enough money to pay off all debt. Should I pay off and quit job I hate and start home based business? Or save? I am 56 and husband would continue working.”

David replied:

“Janine, how nice to come into some money. Send some my way...just kidding! I am all for paying down the debt. Paying down the debt will give you the ultimate freedom. Don't quit your day job however, start your home based business from home in the morning and at night and get it going before you quit your day job (even if you hate it). You are very young, and having that cash flow from your job is huge it will help you fund your next business.”

Here’s the full chat archive and David’s TV appearance:

If you have a question for our TODAY Money experts, submit it here.

To sign up for an e-mail reminder for our next chat, click here.

Today Money financial expert Sharon Epperson joined us for a live Web chat Wednesday to answer your questions.

Here’s one of her answers to questions from the live chat. (See below for the full Q&A and video of Sharon’s TV appearance this morning.)

Bridget asked:

“Hi Sharon, my husband and I are both in our mid 20s and we are looking to buy a house in the next year or two years. Our credit scores are both in the 650-670 range. What do you recommend we do to bring those scores up? And what is a good score to have when that time comes to buy a home?”

Sharon replied:

“If you want to buy a home, having good credit is essential to ensuring you get the best rate on your mortgage. A score in the mid-to-upper 700s is ideal. To raise your score, make sure you pay your bills on time and don't use too much of your available credit. Using 10% or less of your available credit across all cards may help raise your score. Also check your credit reports to make sure there are not errors and monitor them regularly. You can get a free report once a year from each of the 3 credit bureaus: Experian, Equifax and Transunion. Go to www.annualcreditreport.com.”

Here’s the full chat archive and Sharon’s TV appearance:

If you have a question for our TODAY Money experts, submit it here. 

To sign up for an e-mail reminder for our next chat, click here.

TODAY Money financial expert Sharon Epperson joined us for a live Web chat Wednesday to answer your questions.

Here’s one of her answers to questions from the live chat. (See below for the full Q&A and video of Sharon’s TV appearance this morning.)

Shawn asked:

"Hi Sharon. What do you think of gold as an investment for the common person. I've watched you for years reporting on CNBC report on the commodities market and I was curious if you thought the average person should invest in precious metals. Thanks!"

Sharon replied:

“I enjoy reporting about gold and commodities every day for CNBC and I do believe it is important to have a diverse mix of stocks, bonds and alternative assets in one's portfolio. Gold can be a part of that alternative mix -- say 5-10-% of your portfolio. A great way to get into gold, as you've heard me mention on the air, is an exchange-traded fund like the GLD or IAU. I also think you can get exposure to gold in some large cap mutual funds that invest in gold mining stocks. See more ways to invest in gold here.”

Here’s the full chat archive and Sharon’s TV appearance:

If you have a question for our TODAY Money experts, submit it here. 

To sign up for an e-mail reminder for our next chat, click here.

Today Money financial expert Sharon Epperson joined us for a live Web chat Wednesday to answer your questions.

Here’s one of her answers to questions from the live chat. (See below for the full Q&A and video of Sharon’s TV appearance this morning.)

Tara asked:

“Is it better to pay off student loan debt or save for retirement?”

Sharon replied:

“It's not an "either/or" situation. You should definitely save for retirement and the earlier you start the better off you'll be. You need to itemize your student loans and figure out if you can consolidate. Pay off what you need to pay to stay current. But don't neglect your own retirement savings in the process.”

Here’s the full chat archive and Sharon’s TV appearance:

If you have a question for our TODAY Money experts, submit it here.

To sign up for an e-mail reminder for our next chat, click here.

More Latino children are living in poverty than children of any other racial or ethnic group in the country, according to according to an analysis of new data from the U.S. Census Bureau.

Child poverty among Hispanics rose to 6.1 million in 2010 -- up sharply from just over 4 million in 2005. It marks the steepest increase versus any other ethnic group over that period, the report from the Pew Hispanic Center, a project of the Pew Research Center, shows.

In 2010, 37.3 percent of poor children in America were Latino, 30.5 percent were white and 26.6 percent were black, according to the report. 2010 was the first year in U.S. history when the single largest group of poor children was not white.

“This negative milestone for Hispanics is a product of their growing numbers, high birth rates and declining economic fortunes,” the report said, noting that the 2010 U.S. Census shows Hispanics now represent a record 16.3 percent of the total U.S. population, but an even larger share (23.1 percent) of the nation’s children.

This disparity is driven mainly by high birth rates among Hispanic immigrants, the Pew Hispanic Center notes. Of the 6.1 million Latino children living in poverty, more than two-thirds (or 4.1 million) are the children of immigrant parents. The rest are the children of parents born in the U.S.

Among the 4.1 million impoverished Latino children of immigrants, the vast majority (86.2 percent) were born in the U.S., the report said.

Today Money financial expert Carmen Wong Ulrich joined us for a live Web chat Wednesday to answer your questions.

Here’s one of her answers to questions from the live chat. (See below for the full Q&A and video of Carmen’s TV appearance this morning.)

Becky asked:

“My boyfriend and I both work as design/web development freelancers. We've been doing so for 4 years, and our taxes are increasingly higher. I was wondering if it would be better for our clients and our taxes if we would incorporate.”

Carmen replied:

“Becky - Oh YES! Definitely form an LLC with your boyfriend (if you're ready to make that sort of commitment, ahem!). Or, even a corp on your own where you get paid through the corp rather than personally. There are some upfront costs but you'll recoup that in your first year in tax savings. Good luck!”

Here are links to the full chat archive and Carmen’s TV appearance:

If you have a question for our TODAY Money experts, submit it here.

To sign up for an e-mail reminder for our next chat, click here.

Today Money financial expert David Bach joined us for a live Web chat Wednesday to answer your questions.

Here’s one of his answers to questions from the live chat. (See below for the full Q&A and video of David’s TV appearance this morning.)

One chat guest asked:

“Hi David, Where do you stand on the debate between paying off your mortgage early vs. getting a big, long mortgage, never paying it off and using the extra money to invest?”

David replied:

“Love this question. I think you are better off to pay that mortgage off early. Less debt means more freedom. I wrote a new book this year called Debt Free For Life, and the entire goal and mission of this book is to help you buy back your freedom. Paying off your home early can save you tens of thousands of dollars in interest, and often upwards of six figures if you have a big mortgage. Good luck!”

Here’s the full chat archive and David’s TV appearance:

If you have a question for our TODAY Money experts, submit it here.

To sign up for an e-mail reminder for our next chat, click here.

Collin Morgan, the coupon-savvy mom behind Hip2Save.com, joined us for a live Web chat Wednesday to answer your questions.

Here’s one of her answers to questions from the live chat. (See below for the full Q&A.)

Nina asked:

“Hi Collin. I have tried couponing many times and have failed. I always end up spending more and buying a bunch of stuff I don't need. I don't want a cupboard full of energy drinks or junk food. How can I get better at this (and not just for groceries)? I know many retailers have coupons. I always seem to be disorganized and always miss out. Any suggestions?”

Collin replied:

“Definitely take baby steps and let yourself get the hang of it first. You will learn quickly that you can save a tremendous amount of money on personal care products ... possibly getting some FREE, which in turn will allow you to spend more money in the grocery department.”

Here’s the full chat archive:

If you have a question for our TODAY Money experts, submit it here. 

To sign up for an e-mail reminder for our next chat, click here.