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
Pay for lifelong learning with tax-free fund
If you have helped children or grandchildren with college costs, you are probably already familiar with 529 plans — the tax-advantaged education savings accounts offered by states and educational institutions. There’s no federal tax deduction for 529s, but residents can usually get a state tax deduction on contributions made to their own state’s plan. Furthermore, the money... READ MORE
Live like the royals — frugally, that is
With an estimated net worth of $88 billion, the British royal family is one of the wealthiest monarchies in Europe. However, just because money is no object for them doesn’t mean they’re frivolous spenders — quite the opposite. It has been well-documented that Queen Elizabeth II keeps a close eye on her spending, and frugality is a trait that has passed down to other members of... READ MORE
The rise of gray divorce: why or why not?
Till death do us part? Not so much. In the past 25 years, the divorce rate for Americans over the age of 50 has more than doubled. While divorce rates for other age groups have leveled off or even fallen, one out of every four people going through a divorce in the United States is 50 or older, according to research by sociologists Susan L. Brown and I-Fen Lin. Compare that to 1990,... READ MORE
In defense of some managed bond funds
I want to discuss bond funds whose managers aren’t hemmed in by allegiance to an index or by the ultraconservative viewpoint that Treasury bonds and notes are the center of the universe. I dislike such stolid holdings as total bond market exchange-traded funds and funds designed to replicate the Bloomberg Barclays Aggregate Bond index — which is 42 percent Treasuries and includes no... READ MORE
