Make each dollar you spend spark joy
Famous organizer Marie Kondo has inspired countless people to wipe out clutter. Her KonMari organizing method, popularized by her book and Netflix series, lays out how to get more joy from your life and possessions. This approach can extend to your money, too. Applying her mindset can reduce the financial clutter in your life and help you make a better plan for each dollar. Here’s how... READ MORE
Working longer makes a huge difference
Retirement experts frequently recommend working longer if you haven’t saved enough. But you may not realize just how powerful a little extra work can be. Researchers who compared the relative returns of working longer versus saving more last year reached some startling findings. Among them: — Working three to six months longer was the equivalent of saving an additional 1% for 30... READ MORE
Pre-Medicare? Beware twist on co-pays
If you are not yet on Medicare and use a drug manufacturer’s discount coupon or co-pay assistance card to save money on medicine, check your health plan before you fill your next prescription. Otherwise, you could be in for an unpleasant surprise at the pharmacy counter. You might be subject to a co-pay “accumulator program,” which is a new restriction that prevents your discount... READ MORE
Census offers temp jobs for retirees
Dear Savvy Senior, The U.S. Census Bureau is in the process of recruiting thousands of workers for temporary jobs to help collect valuable data for the 2020 Census, and retirees are ideal candidates. Can you write a column to get the word out? Thanks for your help! — Census Recruiter Dear Recruiter, I’m happy to oblige, and I agree. This once-a-decade job opportunity is... READ MORE
Money mistakes even smart people make
Certified financial planner Jill Schlesinger has seen smart people make some pretty spectacular money mistakes. One client who repeatedly refused to buy disability insurance later developed multiple sclerosis. A doctor she knew put off writing a will and left behind a six-figure tax bill. A technology company engineer balked at her suggestion to sell some of his stock options, only to... READ MORE
Bond funds help avoid interest rate risk
Traditional bond funds lost value last year as the Federal Reserve steadily increased interest rates. The Fed could also increase interest rates in 2019, and this causes some concern among bond fund investors. One of the disadvantages of traditional bond funds in a climate of rising interest rates is that there is no fixed maturity date; fund managers are continually modifying their... READ MORE
Get your grandkids in the giving spirit
Charitable giving is a subject close to my heart and something I have emphasized to my children — and now with my grandchildren — since they were young. It is an opportunity for you to impart your personal values to your family. My mantra is: You are not your money. You are your values. A charitable donation can be made in many ways. It can be as small a gesture as giving spare... READ MORE
Don’t help scammers steal from Medicare
Last month, Federal agents broke up a billion-dollar Medicare scam that peddled unneeded orthopedic braces to hundreds of thousands of seniors. Two dozen people were charged, including doctors accused of writing bogus prescriptions. The Justice Department said the scheme relied on overseas call centers to pry Medicare numbers from beneficiaries. Authorities also announced charges... READ MORE
Smaller stocks are doing well, for now
The stock market’s biggest gains are once again coming from its smallest companies, but the trend may not last much longer. Smaller-company stocks like Allegiant Travel and AK Steel have been soaring since late December and leading the rest of the market — a sharp reversal from much of the winter, when smaller stocks were plunging more than the rest of the market. The Russell 2000 ... READ MORE
Are prepaid car maintenance plans worth it?
Prepaid car maintenance plans are one of the most common items a dealership finance and insurance manager will offer you when you buy a new car. The sales pitch promises the advantage of “locking in” maintenance prices at today’s rates for a little extra amount added to your monthly payment. Then, whenever you need scheduled maintenance, just roll in, get the service done, and roll ... READ MORE
