Manisha Thakor, a financial adviser in Portland, Ore., interviewed by Bhattarai, sums up why so many people aren’t saving: “By the time people see how much they need, it seems so horrific and out of bounds that they just freeze and do nothing.”

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I think part of the problem is that we have scared people into thinking they need millions of dollars to retire.

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Even if you can only spare $20 a paycheck and keep adding to that 401(k), that’s something and better than nothing.

Color Money question of the week

If you haven’t been saving for retirement, why not? Send your comments to colorofmoney@washpost.com. In the subject line put “401(k).” Please include your name, city and state.

ATM: Always taking money

I like to ask people what ATM stands for. Most people correctly guess “automated teller machine.”

But I think it should mean, “always taking money.”

How often have you withdrawn cash from an ATM and a few days later can’t even remember how you spent the money? When it comes to the banks, it means always taking money — fees — from people who want access to their cash fast. And people want their money so quick that that they are willing to pay a price. Just three banks, Bank of America — JPMorgan Chase and Wells Fargo — earned more than $6.4 billion last year from ATM and overdraft fees, according to recent analysis by CNNMoney.

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“Despite public outcry, banks show no sign of scaling back on fees,” reported Heather Long for CNNMoney.

There are two ways people pay ATM fees. A 2016 study by Bankrate.com found ATMs on average charge $2.90 to let non-customers withdraw money. Your own bank also may charge you a fee for using an out-of-network ATM. That fee is on average $1.67. So it will cost you on average $4.57 to withdraw from an out-of-network ATM, a record high for the 10th consecutive year, according to Bankrate.com.

I hate ATM fees. Once, after church, my husband and I decided to stop by a mall and get something to eat. But once there, we realized we didn’t a lot of any cash. (And we didn’t want to use credit). The only ATM was out of our network. We managed to find about $6 in bills and change. We shared a kid’s meal.

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I still laugh about it.

My husband, not so much.

Don’t give your money away. Use an in-network ATM or when you buy something get cash back at the register.

Live chat today

Join me for a live discussion at noon (ET). The main topic this week is about the Department of Labor’s fiduciary rule. My guests will be Cristina Martin-Firvida, director of financial security at AARP, and Lisa Bleier, the managing director at SIFMA, an organization which represents, among others, broker dealers.

Not sure what this fiduciary rule is all about? Check out this short video: HighTower Whiteboard Animation: Brokers vs. Fiduciaries by Elliot Weissbluth, chief executive of the Chicago-based financial advisory firm HighTower.

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Elliot, who is in favor of the fiduciary rule, uses the metaphor of a butcher and a nutritionist to explain the difference between a broker and a fiduciary. It’s a funny take on the issue. To participate in the chat or send in your questions early click this link.

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Workers fighting about Trump at work

A new survey found that a lot of workers are distracted because of arguments about President Trump and his politics. Nearly 50 percent of survey participants have witnessed a political conversation turn into an argument at work, according to BetterWorks, a software company.

Last week I asked: Have you gotten into a fight about Trump on the job or find it hard to do your work because you’re checking the news about the administration?

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This one comment from Paula Kielich, president and founder of the nonprofit Pals For Life in Pennsylvania really stood out. She wrote: “The challenge I am facing is when I am interacting with donors or potential donors. When they initiate a conversation about Trump that I deeply disagree with, I don’t know how to respond. I don’t want to agree; but if I take an opposite position, will they refuse to donate to my organization? I try to steer the conversation away from politics, but it doesn’t always work.”

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Color of Money columns this week

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