How to negotiate a car if you hate haggling
A short stint as a car salesman taught me that dealers are pros who negotiate all day for a living — and they always have the home field advantage. Later, while buying dozens of test vehicles for an automotive website, I was on the other side of negotiations, and experienced the tricks dealers use to pressure buyers. I’ve found that simple, non-confrontational negotiating tactics... READ MORE
Will doing your own estate plan cost heirs?
Estate planning mistakes can be expensive to fix — that is, when they can be fixed at all. That’s the thought that haunts New York attorney Mari Galvin, whether she’s creating an estate plan for a client or confronting the aftermath when people didn’t properly plan. “People think, ‘Oh, I have a simple life,’ but you have to understand (that if) you make a mistake and you ... READ MORE
No pension? How to make your money last
Delay retirement until age 70. Invest in stocks, not bonds. And draw down your retirement account savings in line with IRS rules on required minimum distributions (RMDs), which start at 3.6 percent a year at age 70 1/2. That’s the safest recipe for retirement planning, according to a new analysis (“How to Pensionize any IRA or 401(k)”) from the Stanford Center on Longevity at... READ MORE
How to spot scams in the mail and online
There is no shortage of ways for crooks to try to separate you from your money. All it takes is letting your guard down for one moment, or overlooking the warning signs of fraud, for scammers to steal your personal information. In 2016, thieves stole more than $16 billion from 15.4 million consumers, according to a report by Javelin Strategy & Research. Older adults are frequently... READ MORE
How to avoid huge, surprise medical bills
The winter’s nasty flu season may smack patients with a financial side effect: surprise medical bills. People who wind up in the emergency room or need an ambulance can be blindsided by hefty, unexpected charges. This often happens after patients visit a doctor or hospital outside their insurance network. Insurance deductibles that reset every January and must be paid before... READ MORE
Top tips for filing your 2017 tax return
All the hoopla about the tax law signed by President Trump can obscure a sneaky little secret: The rules pertaining to the 2017 tax return you’re working on now are almost exactly the same as they were before Congress gave us the biggest tax overhaul in more than 30 years. Although 41 percent of respondents to a recent poll thought otherwise, almost all of the changes, including... READ MORE
Great credit scores lead to monetary perks
As average credit scores for Americans continue to rise, the question for many becomes how to use their excellent credit rating to optimize their lives without borrowing money or adding risk. Capitalizing on great credit doesn’t have to mean incurring great debt; instead, it’s about using your money reputation for a financial advantage. “In the right hands, a good credit rating... READ MORE
Watch out for pitfalls after freezing credit
After a data breach at credit agency Equifax exposed the personal data of nearly 146 million Americans last year, you may have hurried to freeze your credit reports to help prevent identity theft. A credit or security freeze prohibits new lenders from viewing your credit report. In turn, a thief who attempts to use your Social Security number and other personal information to apply for a ... READ MORE
Businesses you can start with no money
Starting a business is often a pricey ordeal. But low- or even no-cost ideas exist for aspiring entrepreneurs with unique and marketable talent. Take inventory of the skills you already possess, recommends Holly Reisem Hanna, founder of a career blog called, “The Work at Home Woman.” List your past jobs, education, training, passions, skills and talents to help identify vocational... READ MORE
Talk to your kids about their inheritance
Many parents fail to get their financial affairs in order, neglecting to take care of such things as wills, living wills and powers of attorney. But even those who think they’ve covered all of their estate-planning bases often leave one of the most important tasks undone: They fail to talk to their adult children about the money they’ll be leaving them someday. For many, I’ve... READ MORE
