Money and You from Creators Syndicate

Does $1 Million Equal Retirement Confidence? for 07/09/2008

Wed, 09 Jul 2008 00:00:00 -0700

I wrote a column back in April about the distressing findings on retirement and confidence, compiled by the Employee Benefits Research Council, explaining how ill-prepared most people are when it comes to this generation's biggest financial challenge. To cite just one example: Nearly half of the workers surveyed had less than $25,000 in total savings and investments.

So you can imagine h ...

Updated: Wed Jul 09, 2008

The Pros and Cons of Paying off Your Mortgage for 07/16/2008

Wed, 16 Jul 2008 00:00:00 -0700

With all the recent focus on lending practices, foreclosures and economic pressures in general, I've been getting a lot of questions from readers concerning the pros and cons of paying down a mortgage. Understandably, many people are concerned that carrying a mortgage might be a detriment to their financial future. And those struggling to meet their monthly mortgage payments are wondering if th ...

Updated: Wed Jul 16, 2008

Coming to Terms with Credit Card Debt for 07/23/2008

Wed, 23 Jul 2008 00:00:00 -0700

Gas prices are at record highs. Housing values continue to fall, and the general economic environment feels uncertain. For consumers strapped for cash, the temptation to whip out the credit card and use it for basic living expenses is strong.

But before you take this route, think carefully. Non-secured credit card debt is expensive for several reasons. First, credit card interest payments are ...

Updated: Wed Jul 23, 2008

Helping Teens Meet the Financial Literacy Challenge for 07/30/2008

Wed, 30 Jul 2008 00:00:00 -0700

As you may have heard many times, I feel teaching kids about money early on is one of the best things we can do to help them succeed. I've been pleased and honored to be involved in the first-ever National Financial Literacy Challenge. Sponsored by the U.S. Treasury Department in conjunction with the President's Advisory Council on Financial Literacy, this test was taken by 46,000 high school s ...

Updated: Wed Jul 30, 2008

Is Your Financial Safety Net in Place? for 08/06/2008

Wed, 06 Aug 2008 00:00:00 -0700

Some financial advice is given so often that it becomes common folk wisdom. The old adage about "saving for a rainy day" is certainly one of those bits of advice. I'm sure you heard it as a child, and you've probably said it many times, but saying and doing are two different things. According to the Consumer Federation of America, fewer than 40 percent of American adults have an emerg ...

Updated: Wed Aug 06, 2008

Understanding and Changing Financial Habits can Pave Way to Success for 08/13/2008

Wed, 13 Aug 2008 00:00:00 -0700

If you're like most people, you probably believe that when it comes to your financial decisions, you carefully weigh the pros and cons to make the right choice. But according to Dan Ariely, professor of behavioral economics at Duke University and author of the new book, "Predictably Irrational: The Hidden Forces That Shape Our Decisions," you might be surprised at what truly affects h ...

Updated: Wed Aug 13, 2008

Retirement: A Changing Vision, an Ongoing Challenge for 08/20/2008

Wed, 20 Aug 2008 00:00:00 -0700

One of the recurring themes in my column is the importance of saving and investing for the biggest personal finance challenge: a comfortable retirement. So I was keenly interested to digest the results of a recent survey on the topic of retirement from Charles Schwab and Age Wave, a consulting firm focused on the aging population.

The survey, conducted in the spring of 2008, asked nearly ...

Updated: Wed Aug 20, 2008

Where Do You Stash Your Cash Now? for 08/27/2008

Wed, 27 Aug 2008 00:00:00 -0700

By now, many people have learned the essential process for making long-term savings decisions: If you're investing for something years away — the classic case is retirement — you invest for growth, typically in the form of domestic and international stocks, with a portfolio that's highly diversified and low-cost. For long-term objectives, time is your ally, enabling you to ride out ...

Updated: Wed Aug 27, 2008

Can You Afford to Go Back to Work? for 09/03/2008

Wed, 03 Sep 2008 00:00:00 -0700

Like so many new mothers, when my children were little I struggled with the decision to go back to work. It was an emotional, logistical and financial decision that was harder to make than I imagined.

That was quite a few years ago. Today — as the cost of everything from child care to gasoline keeps increasing — I can easily sympathize with anyone who's facing the decision to ...

Updated: Wed Sep 03, 2008

Time Is Money -- Even in Difficult Times for 09/10/2008

Wed, 10 Sep 2008 00:00:00 -0700

Many readers are telling me it's becoming harder to save money. That's not surprising with the current price of gas and grocery bills seeming to increase each week. Under the circumstances, you might be tempted to think that the little money you have remaining, after handling everyday expenses, isn't really worth the effort of saving. But as I've said before, a small amount regularly saved can ...

Updated: Wed Sep 10, 2008

Getting Your Foot in the Door of Your Home: How to Get Your Down Payment for 09/17/2008

Wed, 17 Sep 2008 00:00:00 -0700

From an investment perspective, being a homeowner over the past couple of years has been no picnic. Yet many people still want to have their own home —and it's hard to argue with that impulse. They want to put down roots and become part of a community, even if housing prices haven't experienced the kind of ascent that characterized the first five years of the new century. Some people may ...

Updated: Wed Sep 17, 2008

Semi-Retirement: The Best of Both Worlds for 09/24/2008

Wed, 24 Sep 2008 00:00:00 -0700

What's your ideal retirement look like? While the image of retirement may vary from generation to generation, more people of every age are expressing a desire for a new kind of retirement — one in which they're active, engaged and continue to work. In a recent Schwab generational study, most surveyed Americans optimistically viewed retirement not as a time to wind down, but as an opportun ...

Updated: Wed Sep 24, 2008

Back to "School" Part I: A Review of Some Investing Fundamentals for 10/01/2008

Wed, 01 Oct 2008 00:00:00 -0700

For me, September always evokes the pleasures (and some pains) of going back to school. I thought I'd start this academic year by doing a little educating of my own: investing fundamentals.

Part I will cover the basics of why we invest and what we invest in. Part II will discuss the "how": the basics of portfolio management, including asset allocation and diversification, along ...

Updated: Wed Oct 01, 2008

Back to "School" Part II: A Review of Some Investing Fundamentals for 10/08/2008

Wed, 08 Oct 2008 00:00:00 -0700

Last week, I wrote about the "why" and "what" of investing: To create wealth over the long term by using bond and equity exposure to get there. But that still leaves the big question: How do I invest? This is tougher, especially now when the markets are in turmoil.

It's these chaotic times when the basics are more important than ever. Here's a quick review, whether yo ...

Updated: Wed Oct 08, 2008

Paying for College Later in Life for 10/15/2008

Wed, 15 Oct 2008 00:00:00 -0700

Do you ever think about going back to college? If so, you're not alone. Faced with today's economic challenges and the need for new and different job skills, many adults are considering some type of continuing education.

In community colleges, universities and graduate schools across the country, the age diversity on campuses is growing. A 2006 report from the American Association of Sta ...

Updated: Wed Oct 15, 2008

Making Sure You're Covered: What You Need with Insurance for 10/22/2008

Wed, 22 Oct 2008 00:00:00 -0700

A young colleague recently mentioned that she had to pay her life insurance premium. She's single, in her 30s with no kids, so I couldn't help but ask her why she needed life insurance. The answer was simply, "well, I've always had it."

This got me thinking about all the potentially confusing choices people make every day regarding the types of insurance they purchase as well a ...

Updated: Wed Oct 22, 2008

Closing the Racial Gap when it comes to Retirement Investing for 10/29/2008

Wed, 29 Oct 2008 00:00:00 -0700

For the past 11 years, Ariel Investments, LLC, and Charles Schwab have teamed up to conduct the annual Black Investor Survey. The goal of this survey is twofold: To show the differences in how black and white Americans approach investing, and to raise awareness in the African-American community regarding the importance of investing.

While this year's study revealed some interesting diffe ...

Updated: Wed Oct 29, 2008

Second National Financial Literacy Challenge Brings Economy Home to Teens for 11/05/2008

Wed, 05 Nov 2008 00:00:00 -0800

If there's an upside to the economic rollercoaster we've been on lately, it's that it makes what could sometimes seem like a dry, academic subject very, very real. And when it comes to teaching teens about money management, there's nothing like a little reality to get their interest.

Whether you're watching the national news together or discussing your own financial situation at the dinn ...

Updated: Wed Nov 05, 2008

How Do You Make Sense of the Current Market? for 11/12/2008

Wed, 12 Nov 2008 00:00:00 -0800

If the current financial news has your head spinning, you're not alone. Every day seems to bring new statistics, for better or worse. One pundit says get out of the market, another says stay the course. For some people, all the ups and downs are simply paralyzing.

While we're all looking for the silver lining, there's no one word of advice that will work for everyone. Where you are in li ...

Updated: Wed Nov 12, 2008

Back to Basics: How To Save Intelligently for 11/19/2008

Wed, 19 Nov 2008 00:00:00 -0800

When we teach our children "Save your money," we're trying to engrain a habit that we know will serve them well when they're adults. A couple of hundred years ago, a propensity to save was considered a testament to one's moral fiber, but today, a propensity to save is a necessity. Saving gives you resources to deal with crises (from an illness or lost job to a downturn in the stock ma ...

Updated: Wed Nov 19, 2008