The importance of having savings certainly has been brought to the forefront during the COVID-19 pandemic, as many people found themselves living on, and often exhausting, their emergency savings due ... more
If it weren’t the year 2020, right around now, I would be cautioning IRA owners over 70 1/2 to make sure they withdrew their required minimum distributions (RMDs) from their individual retirement acco... more
It’s December, and if you haven’t yet made your charitable contributions this year, now is the time, especially since 2020 contributions are subject to new, more favorable tax treatment.... more
When it comes to bills, do you prefer getting a printed statement in the mail over an electronic statement online? In a Consumer Action survey of a few years ago (tinyurl.com/yxq69wc3), 78% of those s... more
If you are participating in a retirement plan at work, are you changing your activity because of the pandemic? Most participants are not, even though the COVID-19 market was a roller coaster between F... more
When the investing apps Robinhood, Acorns and Stash came on the scene, a new type of saver emerged, one who could save money when making purchases (a microsaver). Then came the microinvestor, a saver ... more
Known as the “Big Five,” five questions can predict your ability to make good financial decisions. This is the conclusion drawn by researchers who conducted a study between 2012 and 2018 of 1,500 Amer... more
When I speak with investors, whether they invest on their own or with the help of financial professionals, I’m always curious about how they monitor progress. How do they know they are on track? How d... more
“Matt,” a 65-year-old reader of this column, is about to retire with a substantial 401(k). He has never invested on his own, only through his 401(k). Luckily, his pension and Social Security retiremen... more
In 2016, Congress made permanent the QCD or qualified charitable distribution for people at least 70 1/2 years old who wanted to benefit charities. The charity had to be qualified, and there were othe... more
It seems there is a special day for just about everything you can think of. As I write this column (Oct. 2), it’s National Name Your Car Day -- and, yes, I’ll admit to naming my first car a long time ... more
What do you think about in September? If you are like me, September brings up memories of going back to high school after a summer of pure bliss. This year, due to the coronavirus, things are a little... more
Have you made an investment decision during the coronavirus market that you regret? Perhaps you sold out of your stock investments or stock mutual funds in March when news headlines were dire?... more
During this pandemic, you’re probably not thinking about celebrating 401(k) Day, especially since it occurs on the first Friday in September after Labor Day, which happens to be 9/11 this year.... more
It seems that seniors will never get a break. Fraudsters continue to prey on them with all sorts of scams. If you have a senior in the family, there’s no better time than now to talk about just a few ... more
COVID-19 has had an effect on all of our lives, affecting not only health, but also jobs and personal finances. Some people are encountering new challenges, such as being unable to pay bills on time.... more
An important deadline is fast approaching that applies to anyone who wants to reverse an RMD (required minimum distribution) from a retirement account in 2020. That deadline is Monday, Aug. 31.... more
No matter what type of investor you are, there are some very basic “truths” that drive investment activity. One such truth is that you cannot predict the direction of the market with any certainty. As... more
The song “You Can’t Always Get What You Want” describes how people feel about retirement these days. That’s the song chosen by nearly half of the respondents in a survey released on July 29 by the All... more
I recently had a conversation with a Connecticut reader about balanced mutual funds. The objective of a balanced fund is to “seek” both income and capital appreciation.... more
The difficult period we are experiencing as a result of the COVID-19 pandemic has a related, unsavory aspect: It has opened an opportunity for scammers to take advantage of people, especially seniors.... more
Last week, we talked about this year’s July 15 deadline for 2019 IRA contributions. July 15 is also an important date for “backdoor” Roth conversions for people who don’t qualify for Roth contribution... more
If you have not made your 2019 IRA contribution yet, you are not alone. According to Fidelity Investments, the nation’s largest IRA provider, an increasing percentage of investors are making contribut... more
When I wrote about the suspension of required minimum distributions (RMDs) for 2020 by the CARES Act, which was signed into law on March 27, I received a number of emails from readers who could not ta... more
Have you received a plain envelope containing a Visa debit card from Money Network Financial? A few readers have shown me their letters, and I must say, the first question that comes to mind is whethe... more
While news reports are focused on the pandemic, the economy and important social issues, a silent evolution in the financial services industry is underway. By the end of this month, investors will hav... more
The North American Securities Administrators Association (NASAA) wants investors to be aware that fraudulent investment schemes are surging during the COVID-19 crisis.... more