November 16, 2014 |
Retirement could be dicey for debt-laden and risk-averse millennials - the generation that started coming of age around the turn of the century. But there's some hope. "Retirement coach" Jacob Gold writes in this USNews.com post that millennials looking at retirement - three decades away or more - know they won't arrive at that distant horizon with a safe company pension. They need to be putting money in 401(k)s, taking advantage of any matching funds their employers put on the table, and investing the savings aggressively.
October 27, 2014 |
Finding a broker to assist or guide your investing is hard. Switching brokers can be even harder. There are ways to ease the process, and here's how to become familiar with some of them. "Transferring a brokerage account seems a little intimidating," observes this post at informational site LearningMarkets.com. But, it continues, "if you are in an unhappy brokerage relationship don't let the paper-work scare you. Dump your broker and educate yourself on how easy the transfer process can be and what you should ask for to make it as inexpensive as possible.
October 6, 2014 |
Annuities are supposed to give you a steady retirement paycheck from your investments, but the field is full of land mines. Here's a start on learning to navigate that minefield in safety. Start with simple explanations. The Securities and Exchange Commission's site on investing basics defines annuities and tells why some people buy them. "An annuity is a contract between you and an insurance company that requires the insurer to make payments to you, either immediately or in the future.
September 29, 2014 |
Smartphones are expensive to own, but the powerful, often free, apps they carry around can make up for some of that expense. These sites offer guides to useful money-saving apps. Budgeting apps are first-off. Everything Zoomer, a site that says it's for the "45-plus demographic," recently posted this list of recommended personal-finance apps. It notes that most banks and other financial institutions now provide apps for tracking your accounts, finding ATMs, and so forth. Many save you a trip to the bank by allowing deposits by snapping photos of checks.
September 15, 2014 |
When you are new to investing or in search of a disciplined way to salt away funds, try the method called dollar-cost averaging, or DCA. Here are some pointers, and caveats. Investopedia.com explains the basics: "Dollar-cost averaging is carried out simply by investing a fixed dollar amount into your mutual fund (or other investment instrument) at predetermined intervals. " But why? "It's a strategic way to invest because you buy more shares when the cost is low, so you get an average cost per share over time, meaning you don't have to invest the time and effort to monitor market movements and strategically time your investments.
September 1, 2014 |
Reports of a major data breach at JPMorgan and other banks - possibly by Russian hackers - puts in question the security of customer accounts. What's a consumer to do? Infosecurity magazine runs through the possible methods of the hackers and what the fallout might be. "The FBI has called the skill associated with the attack 'far beyond the capability of ordinary criminal hackers,' leading many to conclude that the action was state-sponsored," writes reporter Tara Seals. The cold implication: "Without significant change in strategy, ultimate resistance to high-level attacks is, well, futile.
August 25, 2014 |
Financial failure, in personal life or in business, is an opportunity for learning and, perhaps, a prerequisite for success - or so say a lot of experts. Here is some of their reasoning and strategy. Will your child be a financial failure? In a post at DailyFinance.com, columnist Michele Lerner lists warning signs that parents should look for, as an opportunity to make positive changes. Does a child always need the latest version of stuff, run up huge debts (including for college)