Life insurance has advantages over IRAs
Although Ed Slott (IRAhelp.com) is an expert in IRAs and other retirement plans, he consistently points out that permanent (that is, whole or universal) life insurance has significant advantages for long-term retirement planning. The ramifications of the SECURE Act of 2019 only magnify these advantages in contrast to investing through taxable retirement accounts. Here are some aspects of ... READ MORE
How to select the right financial adviser
Figuring out what to look for in (and where to look for) a financial adviser can feel overwhelming, whether you are looking for the first time or interested in changing who you work with. When evaluating the top factors to consider, people commonly point to someone who gets good investment returns or who has a lot of credentials or experience. These are indeed important aspects, but... READ MORE
Veterans’ benefits
Most often when I write about benefits, they apply to the general public. Today I’m going to write about veterans’ benefits, which are often structured quite differently from other benefits such as Social Security. Survivor benefits To receive benefits as a surviving spouse, you must have been married to the veteran for at least one year and married at the time of death. If you are an ... READ MORE
How much should an average funeral cost?
Dear Savvy Senior, How much does a typical funeral and body burial cost today? My wife and I are interested in prearranging our funerals but would like to have a cost idea before going in so we can plan and budget appropriately. —Planning Ahead Dear Planning, It definitely pays to know what charges to expect when pre-planning a funeral. Most people don’t have a clue, and can... READ MORE
Use the right credit card for every need
There’s no such thing as a universal best credit card. The right card for you depends on your lifestyle, your goals and your credit history. For instance, if you’re looking for travel rewards but your friend is building credit, the best card for each of you will differ greatly. And while there may not be one best card for you — the average American has about three cards, according... READ MORE
How to complain and get what you want
If you feel you have more to complain about these days, you may be right. The products we use are increasingly complex, which often means they have more ways to malfunction. Companies are still struggling to hire and retain workers, so the customer service representatives who are supposed to help you may not know how. And that’s if you can even get through to a human being after... READ MORE
How to find a good daily money manager
Dear Savvy Senior, Can you recommend any services that can help my mother with her financial chores? My dad always used to handle the bill paying and paperwork, but he passed away last year, and mom struggles to keep on top of things. And I don’t live close enough to help her on a regular basis. —Concerned Daughter Dear Concerned, It sounds like your mom could use a good daily... READ MORE
Beware of buying a flood-damaged used car
After hurricanes with large-scale floods — such as happened in Florida recently with Hurricane Ian — flood-damaged vehicles often end up at salvage auctions and are bought by rebuilders. The vehicles should be marked as “salvage” or “total-loss” on the title, but every year, thousands of severely water-damaged vehicles are resold to unsuspecting consumers — often in... READ MORE
Few stores’ sale prices are really deals
“SALE! 60% OFF!” “This weekend only: Save an extra 40%!” “List: $299 Our price: $199” Consumers’ Checkbook’s researchers spent 33 weeks tracking sale prices at 25 major retailers and found that most stores’ discount claims aren’t really discounts at all, but rather are attempts to mislead. And the shady sales practice is worse than ever before. Checkbook... READ MORE
What to know about working after age 65
Continuing to work past the traditional retirement age gives many the opportunity to add more money to their nest egg — and to delay Social Security, which will bump up their eventual benefits check. In May, 21.9% of Americans ages 65 and older were working, compared with 19.5% in May 2020, according to a study released in June by MagnifyMoney, which analyzed U.S. Census Bureau... READ MORE
Money 2025
