When parents need your financial help
Most parents in the U.S. provide some sort of financial support to their adult children, multiple surveys have found. But often, financial aid goes the other way. A 2015 survey by TD Ameritrade found 13% of American adults provided financial support to a parent. Millennials were far more likely than older generations to report they were helping their folks. Of people born between 1981 ... READ MORE
Hardships with medical bills is common
More than half of seriously ill Medicare enrollees face financial hardships with medical bills, and prescription drug costs are the leading problem, according to a study published last month. The study in the journal Health Affairs comes as legislation to curb drug costs for seniors languishes in Congress and the growing financial exposure of patients with insurance is getting more... READ MORE
Could your tax bill explode in retirement?
Remember when you first started earning a decent salary, and it seemed as if everybody — your parents, your boss, the nice lady in Human Resources and, of course, your tax preparer — all told you to put as much money as you could into your employer’s 401(k) plan? Grab the employer match, they said. Get the growth that the market has to offer. And take advantage of the tax break,... READ MORE
How to give your portfolio a stress test
“You need to manage your stress.” How many times have you heard those words from your doctor or spouse — or maybe said them to yourself? The thing about stress is that the problems it causes often lurk beneath the surface. It’s easy to ignore the effects of stress until they lead to a major health problem — high blood pressure, headaches, stomach issues or even a heart attack.... READ MORE
Cars still more efficient than newer SUVs
Yes, your sport utility vehicle has gotten smaller and more fuel efficient over the years. But even with those gains, SUVs are still behind cars when it comes to gas mileage. The reason: SUVs are taller and heavier than cars, and no matter how sculpted their bodies are, they still run into more wind resistance. “It comes down to the laws of physics,” said Jake Fisher, director of... READ MORE
Free stock trading leads to industry shift
Charles Schwab is buying rival TD Ameritrade in a $26 billion stock swap, a blockbuster agreement brought about by massive disruption in the online brokerage industry. Bowing to competitive pressure, brokerages have recently made it free for customers to trade U.S. stocks online. A combination of two of the biggest players in the industry would allow Schwab to save billions of dollars... READ MORE
Understand pros and cons of a Roth IRA
Based on the mail I receive, many readers misunderstand Roth IRAs, including the benefits for the initial owner and for beneficiaries. I’ll explain some of the basics associated with Roth IRAs below. However, I should preface this by saying that Congress is contemplating modifications in the regulations that will affect the length of time beneficiaries will be able to stretch out... READ MORE
Invest in funds with consistent dividends
I have written before that retirees should maintain a significant amount of their investments in diversified stock investments. Although I have been retired for 24 years, I still keep about 50% of my investments in stock market, almost all of it in diversified mutual funds. I have always chosen funds that have a history of consistent earnings and dividends. I recognize that stock market... READ MORE
Avoid these financial pitfalls in retirement
Investing is a challenge at any age, but as you reach retirement, it becomes especially important to avoid making mistakes. When you’re younger, you have more time to recover from a bad investment or market downturn. However, when you are older and your investments are providing your income, it’s important to preserve your nest egg. There are things you can do to protect your... READ MORE
Money management is important for all
Last summer, I had the opportunity to study “across the pond” at Oxford University. While there, I used up roughly 75% of my spending money buying Moo-Moo’s milkshakes. It was perhaps not the most intelligent budgeting on my part, but what can I say? Those milkshakes were heavenly. My escapades in England exemplify how essential it is to be well-versed in the art of money... READ MORE
Money 2024
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