Since the family can't afford a lot of paid classes and activities for Olivia, 4, and Niel Peter, 2, Mr. Vuolo compensates by organizing outdoor adventures, his wife says.

WSJ: At-Home Dads Make Parenting More of a 'Guy' Thing

When evaluating candidates for internships, don't place too much weight on the school they attend, says Olivia Scott-Perkins, principal of Omerge Alliances, a five-month-old entertainment-marketing firm.

WSJ: How to Make Internships Pay Off

"If benefit promises can't be adjusted, then contributions are going to have to go up a heck of a lot, " says Olivia Mitchell, director of the Pension Research Council at the Wharton School of Business in Philadelphia.

WSJ: Pension Cuts Face Test in Colorado, Minnesota