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Category: personal finance

You’ve been hacked; fix it and protect yourself now

August 5, 2019 by admin

Face it, you’ve been hacked. Your data has been breached. You are right on the edge of every bad thing that could happen to you when it comes to identity theft, fraud, damage to your financial accounts, credit files and your credit score. And it’s your own fault. Sure, you could blame Capital One, the …

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The hidden costs of using free-trading apps like Robinhood

July 30, 2019 by admin

About five years ago, I noted that financial consumers should favor naps over apps and put down their smartphones to give their finances and themselves some rest. While noting that typical consumers will fare better by focusing less on money than by watching the numbers change moment-by-moment, I acknowledged that there were plenty of cool …

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Tame the paperwork monster before it eats your money memories

July 22, 2019 by admin

   “Grandpa Jack” is 80-years young, and along with scrapbooks and mementos of a life well-lived, he still has every check he’s ever written, along with copies of every bill he ever paid.    As he prepares to move from his long-time family home in Pembroke, Mass. to an apartment attached to his daughter’s house …

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Are you a death-wish investor? These strategies can kill fund returns

July 15, 2019 by admin

   I attended an investment sales seminar this week where the speaker tried to persuade the audience to take his approach to retirement investing.    It involved something most of the audience had never heard of. Pitched as a “7702 Plan,” it was actually a life-insurance policy, a twist on the more standard annuity-sales pitch …

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Are you paying less for your funds? You should be

July 5, 2019 by admin

   When it comes to mutual funds, investors have always gotten what they didn’t pay for.    Now that they aren’t paying much, they need to decide if the money they’re spending is worth the results they’re getting.    Morningstar Inc. recently released its latest fund-fee study, which showed that what investors paid to own …

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5 financial terms that consumers should redefine now

June 28, 2019 by admin

   The recent furor between personal finance icon Suze Orman and members of the FI/RE movement shows a significant gap in the language all savers, investors and retirees are using.    Fixing the problem means coming up with new definitions for common terms.    FI/RE stands for “financial independence/retire early” and its proponents tend to …

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Solving the saver’s most-enviable problem: too much cash

June 24, 2019 by admin

   Marty in East Weymouth, Mass., asked recently if I would tackle what he considered an “oddball question.”    His problem is one everyone might wish for: Too much cash.    “I have a lot of cash and not much in investments,” he said. “I don’t have much faith that I will be in the …

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Investors’ next challenge is holding on

June 11, 2019 by admin

   Steven S. in Sylvania, Ohio just hit one of his lifetime savings goals, and now he’s freaking out.    You’d think it would be a big celebration, reaching a big round savings number ahead of the rule-of-thumb schedules for being able to retire comfortably.    Instead, Steven’s freak-out is that he’s worried about breaking …

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5 things investors can learn from ‘Jeopardy! James’

June 1, 2019 by admin

   The buzz around Jeopardy! superstar James Holzhauer was so big that I had to tune in to a game show I hadn’t seen in years.    Holzhauer had purportedly “broken” the game – now in its 35th year – by turning traditional strategy on its ear; the winning did not slow down as the …

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Legions of planning clients want to fire their advisers

May 24, 2019 by admin

   The market has been on a decade-long bull run, the proverbial environment for a blind monkey throwing darts to build a good portfolio.    And yet, according to recent research, a high number of clients working with financial planners might prefer a blind monkey to the adviser they have.    It’s a shocking indictment …

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