Tuesday’s need-to-know money news

Today’s top story: The most and least affordable places to buy a home. Also in the news: 3 investments that aren’t actually investments, why credit card rewards may lose their sparkle, and how to ask for a raise.

The Most and Least Affordable Places to Buy a Home
Some of these may surprise you.

3 Investments That Aren’t Actually Investments
The true definition of investment.

Credit Card Rewards May Lose Sparkle, but Not Value
Rewards could get a lot more personal.

Use This Formula to Ask for a Raise
Getting what you’re worth.

Monday’s need-to-know money news

Today’s top story: 4 blunders to avoid when doing your own taxes. Also in the news: What to do if your W-2 is missing, 6 key investing concepts, and why there’s no such thing as a dumb question when it comes to money.

Doing Your Own Taxes? Pros Say Avoid These 4 Blunders
Getting it right the first time.

What to Do If Your W-2 Is MIA
You have options.

6 Investing Key Concepts — in Plain English
Understanding the basics.

Don’t Let the Fear of Looking Stupid Lead to Money Mistakes
There’s no such thing as a dumb question.

Monday’s need-to-know money news

Today’s top story: 7 questions to ask before you hire a tax professional. Also in the news: The security of your hotel’s mobile room key, side hustles you can start with no money, and how to pay off student debt while still saving and investing.

7 Questions to Ask Before You Hire a Tax Professional
Asking the important questions.

How Secure Is Your Hotel’s Mobile Room Key?
Risking safety for convenience?

Side Hustles You Can Start With No Money
No investment necessary.

How to Pay Off Student Loan Debt While Still Saving and Investing
Paying for the past, planning for the future.

Wednesday’s need-to-know money news

Today’s top story: Making your investing resolutions a reality in 2018. Also in the news: Free activities to get your family out of the house, learn the truth about overdraft fees, and 3-month Equifax fraud alerts are expiring.

Make Your Investing Resolutions Reality in 2018
A whole new outlook for a new year.

Get Your Family Out of the House With These Free Activities
Fun doesn’t have to cost money.

Learn the Truth About Overdraft Fees — and Save Money
Expensive mistakes.

Warning: Your 3-month Equifax fraud alert is expiring
Should you freeze your credit?

Thursday’s need-to-know money news

Today’s top story: How to decide between investing or paying off your mortgage. Also in the news: Using payment apps in college, what you need to know about FHA mortgage insurance, and how to calculate how much an equity offer is worth in salary.

Invest or Pay Off Your Mortgage? How to Decide
Which is the smarter move?

You’re going to college: Time to start using payment apps
Streamlining your finances.

FHA Mortgage Insurance: What You Need to Know
Is it worth the cost?

Calculate How Much Your Equity Offer Is Worth in Terms of Salary
Discovering what you’re worth.

Friday’s need-to-know money news

Today’s top story: Why you might be down in an up market. Also in the news: 5 Warren Buffett quotes that can make you a better investor, 5 reasons why pay isn’t rising much for many, and how to get the most out of customer loyalty programs.

This May Be Why You’re Down in an Up Market
Don’t take unnecessary risks.

5 Warren Buffett Quotes Can Make You a Better Investor
Wisdom from The Oracle of Omaha.

Where’s my raise? 5 reasons pay isn’t rising much for many
Wages are stuck in the mud.

How to get the most out of customer loyalty programs
Playing the rewards game.

Thursday’s need-to-know money news

Today’s top story: 5 questions when shopping for a brokerage account. Also in the news: Is a robo-advisor right for you, why higher prices are squeezing both buyers and renters, and how a wife got her family out of $40,000 in debt.

5 Questions When Shopping for a Brokerage Account
What you need to know.

What Is a Robo-Advisor and Is One Right for You?
A different type of financial advisor.

Higher prices squeezing both renters and would-be homeowners
A housing shortage in parts of America is leading to higher prices.

A ‘good wife’ who secretly got her family $40,000 in debt shares how she climbed back to even
You can climb back, too.

Thursday’s need-to-know money news

Today’s top story: Cheated by student loan ‘Debt Relief” firm? What you should do. Also in the news: Rules rollback won’t keep defrauded student borrowers from loan forgiveness, 3 costly mistakes beginning investors make, and what to give and spend during Wedding Season.

Cheated By Student Loan ‘Debt Relief’ Firm? What To Do
Important steps to take.

Rule Rollback Won’t Keep Defrauded Student Borrowers From Loan Forgiveness
A little good news.

3 Costly Mistakes Beginning Investors Make
Ignore stock tips.

Weddings: What to give, what not to give, how much to spend
Wedding season is underway!

Q&A: How to find the right balance when investing

Dear Liz: My brokerage wanted me to start moving from stocks that paid me steady dividends into bonds as I got older. If I’d followed that advice, I wouldn’t be nearly where I am today. I sleep just fine with my dividends. Things can change, of course, but until I see solid evidence otherwise, I am sticking with my plan. I have no idea why the brokerage is still pushing the “more bonds with advancing age” idea.

Answer: Presumably you were invested during the financial crisis and saw the value of your stocks cut in half. If you can withstand that level of decline, then your risk tolerance is a good match for a portfolio that’s heavily invested in stocks.

The problem once you retire is that another big drop could have you siphoning money for living expenses from a shrinking pool. The money you spend won’t be in the market to benefit from the rebound. This is what financial planners call sequence risk or sequence-of-return risk, and it can dramatically increase the odds of running out of money.

Perhaps you plan to live solely off your dividends, but there’s no guarantee your buying power will keep up with inflation. Most people, unless they’re quite wealthy, wind up having to tap their principal at some point, which leaves them vulnerable to sequence risk.

There’s another risk you should know about: recency bias. That’s an illogical behavior common to humans that makes us think what happened in the recent past will continue to happen in the future, even when there’s no evidence that’s true and plenty of evidence to the contrary. During the real estate boom, for example, home buyers and pundits insisted that prices could only go up. We saw how that turned out.

Bonds and cash can provide some cushion against events we can’t foresee. The right allocation varies by investor, but consider discussing your situation with a fee-only financial planner to see how it aligns with your brokerage’s advice.

Monday’s need-to-know money news

Today’s top story: How to deal with a mooching friend. Also in the news: 11 ways to save money on Entertainment, how to invest $100,000, and how insurance can help save wedding disasters.

Ask Brianna: How Do I Deal With a Mooching Friend?
Making tough decisions.

11 Ways to Save Money on Entertainment
While still having fun.

How to Invest $100,000
Strategic investing.

Wedding gone wrong? Insurance could help set things right
A silver lining.