How to allocate a well-balanced portfolio
The 60/40 portfolio, consisting of 60% U.S. stocks and 40% U.S. Treasury bonds, has become the cornerstone makeup of most portfolios ever since John Bogle of Vanguard released the company’s Balanced fund several years ago. Generally, in most years the 60/40 portfolio has provided good returns, with some years going below expectations, such as.when the selected stocks in a 60%... READ MORE
What you need to know about retirement
Christine Benz, the director of personal finance and retirement planning for Morningstar, has written an excellent book that I highly recommend. The book, How to Retire: 20 Lessons for a Happy, Successful and Wealthy Retirement, is based on interviews with leading experts in all phases of retirement. What makes Benz’s book different from most retirement planning guides is that she... READ MORE
Who’s best to grant power of attorney to?
Appointing someone to act on your behalf under a power of attorney (POA) is one of the most important decisions you'll make in your estate planning process. The POA grants significant authority over your finances, healthcare or both, so choosing wisely ensures that your wishes will be respected and carried out effectively. Here’s a deeper look into key qualities to look for in the... READ MORE
What financial planners wish you knew about Social Security
Only about 1 in 8 adults know when they’ll be eligible for full retirement benefits through Social Security, according to the Nationwide Retirement Institute 2023 Social Security Survey. And compared to 2014, fewer people age 50 and up now know whether they may be eligible for Social Security benefits based on an ex-spouse’s record (they may) or if Social Security may offer benefits for ... READ MORE
Scammers are getting away with theft
The scammers are winning. Sophisticated overseas criminals are stealing tens of billions of dollars from Americans every year, a crime wave projected to get worse as the U.S. population ages and technology like AI makes it easier than ever to perpetrate fraud and get away with it. Internet and telephone scams have grown “exponentially,” overwhelming police and prosecutors who... READ MORE
How long to keep tax records and other files
Dear Savvy Senior, Is there a rule of thumb on how long someone should keep their old financial paperwork? I have file cabinets full of old receipts, bank and brokerage statements, tax returns and more that I would like to toss. —Recently Retired Dear Recently, It’s a great question. As we get older and our financial life gets more complicated, it’s difficult to... READ MORE
What to include in an estate plan
Many individuals, even those with significant assets, are negligent in establishing a comprehensive estate plan. A will, although necessary, is not sufficient. In this column I will discuss wills and other documents that you should consider. Consult with your attorney about including the following documents in your estate plan. Will: A will is the document that contains a written... READ MORE
What to do before and after your phone is stolen or lost
Phones hold so much of our digital lives — emails, social media and bank accounts, photos, chat messages and more — that if they ever get stolen or go missing, it can cause major disruption beyond just the loss of a device. In some places, phone thefts are an everyday problem, with thieves on electric bikes snatching them out of pedestrians’ hands, swiping them off restaurant... READ MORE
Use tax software or a tax professional?
Many people find tax-preparation software to be very useful, and most tax software is simple to use, cost-efficient (especially when compared to the cost of hiring a certified public accountant, or CPA) and fast — some returns may be completed in just an hour. The proof of its popularity: The tax-prep software market was valued at $17.9 billion in 2024 by Fortune Business Insights... READ MORE
Ways to avoid or respond to identity theft
Eva Velasquez is president and CEO of the Identity Theft Resource Center (ITRC), a nonprofit that supports victims of identity theft. Here, she talks about key identity theft problems to know about in 2025. What are the most common identity theft schemes? Our most recent contact center data shows that 51% of personally identifiable information (PII) compromises — which take place... READ MORE
