Retailers: The strong will survive
15.08.09
The number of people who have created entirely new categories in retailing can probably be counted on one hand.
Question: I'm single, 38 years old and have about $900,000 saved up. I'm tired of the stress of the corporate world and am wondering: If I live a very simple life, can I afford to retire and not have to worry about going through all my money? --Don H., Marietta, Georgia We're just getting the latest figures on unemployment. But it's not just about the number of people out of work, at issue is also how long people are out of work.
Anyone who's ever sought mental-health treatment knows how quickly the bills for such care can add up, even with insurance. Just what the doctor didn't order: money anxiety on top of whatever else you're facing.
Americans are loaded up with credit card debt. What's worse is that some husbands, wives and even children hide those money woes from their families. The results are often devastating. There's plenty to distract you from financial planning this time of year, from cheering on your favorite football team to daydreaming about Thanksgiving dinner. But you don't want to let some end-of-year deadlines slip by without taking steps to minimize taxes and maximize savings. Especially in this economic climate, a little extra cash can go a long way.
Question: I'm 36 and have saved only about $20,000 for retirement. How much per year should I try to save for the next 30 years to assure I'll have a reasonable retirement? --Beth, Grove City, Ohio
As credit card companies continue raising rates and fees, lawmakers are considering bills to stop such hikes until new credit card laws take effect.
You've probably heard that the restriction barring those earning more than $100,000 from converting a traditional IRA to a Roth will soon be history. This means that as of January, anyone with an IRA can create tax-free income in retirement. Getting old brings a host of changes. Achy knees. Way more time to play bridge. And, occasionally, the tendency to make unwise money decisions.
Question: I believe that along with a recession comes a great opportunity to invest and make significant long-term gains. I'm under 30, I contribute to my 401(k) plan and I'm willing to take risks. What are my best options in today's market? --Lyle, Fort Lauderdale, Florida
Question: I'm 62 and have accumulated about $2.6 million in retirement savings, which is invested in stocks and bonds. My adviser suggests that I take a third of this money and invest it in a guaranteed 6% income variable annuity. The cost of the 6% rider is 0.95% of the account balance per year. Do you think this is a good idea? --J.H., Lansing, Michigan
It wasn't so long ago that travelers could all but name their price. During the depths of the financial crisis, unheard-of deals abounded as hotel companies did anything to lure business. These days? Not so much. The luxury travel market is coming back, with bookings up as much as 40% since mid-2008. You can still find deals this winter; you just need to think creatively -- and follow our tips.
As the 10th anniversary of the bursting of the tech bubble is upon us, you've probably read a slew of stories about what an awful decade this has been for stocks. If you're considering converting to a Roth IRA, you might want to do it before the end of the year.
Question: I'm in my 50s and I got a late start on my 401(k) plan at work. All my contributions go into a balanced fund, but when I get my statement each quarter, it seems that I'm losing as much as I'm contributing. Should I leave my money where it is or should I switch to another fund? --Linda Mandrell, Tampa, Florida
The secret lives of America's debtors
08.03.10
Americans are loaded up with credit card debt. What's worse is that some husbands, wives and even children hide those money woes from their families. The results are often devastating.
The price you pay for frothy assets
08.03.10
As the 10th anniversary of the bursting of the tech bubble is upon us, you've probably read a slew of stories about what an awful decade this has been for stocks.
Should I fire my financial adviser?
08.03.10
Question: Last year I put my money with an adviser for an annual fee of 1% of assets and told him my only criteria for evaluating him will be whether he beats the market. I have refrained from telling him where to invest, when to invest, etc. as I view that as his job. He "got into the rally late" last year and underperformed the broad indexes by 10% to 12%, although we did have a decent fourth quarter. This year he's off to a horrid start, however, and we are already 3% worse than the broad indices. I try not to be a knee-jerk investor and know that every adviser has his ups and downs, but I'm wondering....Is it time to pull the plug? --Mike, Elkins Park, Pennsylvania
Don't get angry at the markets
08.03.10
Get out your calendars, folks. It's time to celebrate -- or perhaps mourn -- the 10th anniversary of one of the epic financial events of our time: the peak of the great stock market bubble, in March 2000. That's the month the Nasdaq, Standard & Poor's 500, and Wilshire 5000 all reached new highs, then headed south, big-time. (The Dow industrials peaked that January, but who cares? It's just a crummy 30 stocks.)
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Rat out a tax cheat, collect a reward
08.03.10
If you knew coworkers, former bosses or exes who cheated on their taxes, would you turn them in? The Internal Revenue Service can make it worth your while.
Spending a school fund
08.03.10
If your child skips college, is he entitled to the money you've saved for him? Money's ethicists weigh in.
Student loan provider offers online savings
08.03.10
Students can now pay their college loans and save with Sallie Mae.
The 60-plus set can't afford to retire
08.03.10
More people say they just don't have the money to retire these days.
Why diversification will work again
08.03.10
Diversification, the notion of spreading your investments among different baskets of assets that don't rise and fall in unison, has long been considered one of the safest and surest moves you can make with your portfolio. After all, if any one basket falls apart, most of your brood should remain intact.
The retired couple's guide to livin' the dream
08.03.10
Question: My husband and I have been happily married for 28 years. Careful spending and sound planning over time has provided us with a very comfortable financial future. Although we're compatible in many ways, our outlook differs when it comes to enjoying our money. I'm more of a saver and I hate to shop. I'm already retired, and when my husband retires in a year we'll begin drawing on our retirement savings. Can you suggest some tips on how we can communicate effectively about spending our money? How do we assure that we'll both have the independence to decide how we want to spend "our share" without judgment? --Margaret M.