Beware financial advice, especially when it comes from someone who stands to profit from the ideas they are giving you. That’s the story in a recent investigation into sales techniques that some brokers are using to get employees to rollover their 401k plans to IRAs. Individual retirement accounts offer a wider range of investments, but… Read More
Improving Credit Scores (as reported by Brittney Castro on blog.mint.com)
We know by now that your credit score is a very important number as it relates to your personal financial success. It can mean the difference between getting a loan for home or car ownership or not. And it can affect the rates you pay when you are approved for a loan. But things happen,… Read More
Opposing Popular Money Advice (as reported by Alexa Mason on www.moneyning.com)
Just because a lot of people say something is true, doesn’t mean it will be true for you. In the world of personal financial advice, there are many common themes that you should test for yourself before subscribing to them. This was the case for Alexa Mason, as she explains writing for moneyning.com. Many personal… Read More
Post Home Purchase Expenses (as reported by April Dykman on getrichslowly.org)
When you buy your first home, there are some expenses that you don’t plan for. And a lot of them can happen after you actually close on the property. Such items include lawn maintenance, appliance replacement and repair, and upgrades to the look and feel of the home. Even when a home is in good… Read More
FAQs on 401k (as reported by Emily Brandon on finance.yahoo.com)
401k retirement plans are employer sponsored investment accounts that allow workers to save money for retirement. How do they work? In short, they allow workers to designate a portion of each paycheck to be deposited into an investment account tax free. Since you don’t have to pay income taxes on the money you invest until… Read More
Side Effects of Credit Cards (as reported by Richard Barrington on fivecentnickel.com)
Credit cards can be very useful tools if you use them the right way. But they also come with their dangers. Richard Barrington, writing for FiveCentNickel.com, lists the possible side effects of credit cards. They start with the added costs when you don’t pay off your debt on time. If you allow interest to accrue… Read More
529 Accounts Grow (as reported by Anne Flaherty on news.yahoo.com)
Saving for college is difficult. That’s why most parents have the option of opening a 529 College Savings Account, which allows you to contribute and use money for college education free of taxes. And a recent report by the College Savings Plans Network shows us that the average size of these accounts has doubled since… Read More
Retirement Shortfalls (as reported by Kimberly Palmer on finance.yahoo.com)
Three in four Americans in the lowest income bracket could run out of retirement savings within the first ten years. Many others will run through their savings long before they die. Saving for a retirement is one of life’s biggest financial goals, so why do so many of us fall short? One reason might be… Read More
Learning to Negotiate (as reported by wethesavers.com)
Learning the art of negotiation should be a priority for anyone who wants a more financially secure life. And while negotiating on price or pay may make you uncomfortable, it is those people who teach themselves to do it more that end up getting the better of things, financially speaking. Whether you are negotiating your… Read More
Renting or Buying, Which is the Better Value? (As reported by Neil Erwin at the New York Times)
Becoming a homeowner and making that first step onto the property ladder has long been a central part of the American dream. A recent article in the New York Times suggests that, for those living in the county’s most expensive metropolitan areas, renting might make more sense in the current economy. There are a number… Read More