Tax strategies for approaching retirement
When steady income from employment stops, it’s replaced with other sources, such as pensions, Social Security and investments. You can usually control when to start these income sources and — in the case of investments — decide which account to pull money from, as different accounts may have different tax consequences. This gives you a chance to explore tax strategies that can have ... READ MORE
Are index funds becoming too popular?
Forty years ago, the thought of buying a stock index fund was ridiculed. Why would anyone be satisfied with an investment that promised nothing more than the same return as the market? Later this year, however, U.S. stock index funds may for the first time control more in assets than mutual funds run by stock-picking managers who are trying to deliver better returns than an index like... READ MORE
Some smart moves in a volatile market
Down 650 points one day. Up more than 1,000 points the next. Down 660 points another day. That was the Dow Jones industrial average’s performance just during one week in January. How should investors handle these market ups and downs? In the short term, just take a deep breath and don’t panic. “Turn off, or at least turn down, the financial talking heads,” said financial planner... READ MORE
Avoid costly mistakes when buying a car
In the excitement of buying a new (or used) car, it’s easy to forget critical details that wind up costing you money. I learned this over more than a decade of buying dozens of test cars for the automotive site Edmunds. No matter how much experience I got, I always consulted my car-buying checklist and updated it based on what I learned. Once you’ve decided on the type of car you... READ MORE
How to handle stock market’s volatility
It’s normal to worry about your portfolio when the stock and bond markets become volatile and when you see your portfolio fall significantly in value. It’s natural to wonder what to do, if anything, to protect your portfolio. The best general advice is to keep focused on long-term objectives. Ideally, you have structured your portfolio based on long-term objectives. If so, you... READ MORE
More investors buying cannabis stocks
The movement toward legalized marijuana use in North America is gaining ground. Last November’s midterm elections saw Missouri and Utah join 31 other U.S. states where medical marijuana is legal. Michigan voters made their state one of 10 (plus the District of Columbia) where recreational use isn’t a criminal offense. Canada recently became the first industrialized nation to legalize ... READ MORE
Social Security calling? It’s likely a scam
For the past few years, the media have widely reported on scammers who call unsuspecting victims pretending to be representatives of the IRS. They claim the potential victim owes money and encourage them to make payments using credit cards, debit cards or even gift cards. Amazingly, thousands of people have fallen for the scam and have collectively lost tens of millions of dollars. As... READ MORE
When stocks dip, is that the time to buy?
Around the beginning of 2018, the volatility of the stock market suddenly picked up. It was a worrying development for most investors, who prefer a smooth ride to a turbulent one. But volatility is a necessary condition if you want to deploy a strategy known as buying the dips, or BTD. The idea is to purchase stocks when they have dropped sharply, anticipating that they will bounce... READ MORE
Retirement planning is cash flow planning
Years ago, I saw a poster that said, “Happiness is a positive cash flow.” I believe that’s true, especially when it comes to your retirement. And I believe that one of the best ways to find that particular form of financial happiness is to use cash flow analysis in your retirement planning. It’s a simple exercise. To begin with, gather information for all the sources of income... READ MORE
Making peace through mediation
Older adults and their grown children confront a multitude of thorny issues when making decisions that affect the whole family — from how to divide up an estate among competitive siblings, to when it’s time to accept help at home, stop driving or move to assisted living. Some of these matters fester and never get resolved, others drag on for years (perhaps even through the court... READ MORE
Money 2024
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