Calculating the true cost of divorce at 50+
You’re sitting across the kitchen table from your spouse, when she informs you that she wants to separate. After decades of marriage, you’re facing divorce.While becoming unwillingly single can be difficult at any stage of life, splitting up after the age of 50 can be doubly devastating, because you have a limited amount of time to financially recover before retirement.According ... READ MORE
Several good reasons to buy used goods
Bedbugs. Weird smells. The possibility of imminent breakdowns. People have all sorts of excuses for not buying used stuff.Those who deliberately buy used items, though, say such fears are not just overblown — they’re also expensive.Katy Wolk-Stanley, a labor and delivery nurse, has a short list of things she’ll buy new, including personal care items (toothbrushes, makeup,... READ MORE
Don’t procrastinate rebalancing portfolio
Rebalancing a portfolio is like going to the gym. You know you should, but it’s so easy to put the task off until tomorrow, or next week, or next year. That’s especially true when stocks, now in the ninth year of a bull market, seem to march ever higher. Shifting money from winning stocks to low-yielding bonds may sound tougher than tackling that treadmill.Older investors may... READ MORE
Strategies to stop being the family ATM
If you want someone to stop asking you for money, the worst thing you can do is say no and then give in after persistent pleading.Such “intermittent reinforcement” — granting a reward after an unpredictable number of requests — makes it more likely the person will ask for another handout than if you just said yes at the start, said Brad Klontz, a certified financial... READ MORE
Fiduciary rule means better money advice
In a Harris Poll conducted in March on behalf of Personal Capital, a digital wealth management firm, 46 percent of respondents said they believed all financial professionals are legally required to always act in their clients’ best interest. Another 31 percent were unsure whether this was the case.Imagine those individuals’ surprise (and maybe yours), in the coming weeks and... READ MORE
Find out if the Equifax hack stole your ID
By now you’ve probably heard that Equifax — which as one of the three major U.S. credit agencies collect loads of sensitive data on consumers — suffered a massive breach, potentially affecting 143 million Americans.In the ongoing saga of rampant data breaches, it’s a stomach-churning twist, and it’s especially galling given that, as one component of its... READ MORE
A way to pick up a few bucks
Barry Belle spent 30 years as a project manager for the Whiting-Turner Contracting Company. But when the 75-year-old Pikesville resident retired in 2014, he still wanted to work — just not as much. “I just wanted to get out of the house two or three days a week,” said Belle, who’s now a driver for the ride-booking services Uber and Lyft, in addition to having private... READ MORE
Whether to work part-time in retirement
Some people’s retirement dreams consist of having the time to do what they want, unencumbered by the demands of working. For others, staying in the workforce on a part-time basis, either out of necessity or by choice, is a core component of their retirement picture.Keeping a hand in the workforce is a growing trend, and for good reason: Part-time employment in retirement is a way to... READ MORE
How not to get ripped off for car repairs
It’s the moment every car owner dreads. The mechanic comes out of the garage to say your ride needs repairs costing hundreds of dollars.Then two big questions pop into your brain: Are the fixes really needed? Am I being overcharged?There might not be a way around getting the car fixed, but there are ways to stay in control of the situation. But it takes some work and planning both... READ MORE
Don’t fall victim to fraud after hurricanes
In the wake of Hurricanes Harvey and Irma, two things are certain: 1) Texans and Floridians will rebuild and repair, and 2) scammers will be lurking — ready to take advantage of victims, their circumstances and the people lending a hand to help. Preventing natural disaster relief scams is impossible. But informed citizens doing their research can avoid falling... READ MORE
Money 2024
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