If you leave a job or retire, you’re often encouraged to roll over your 401(k) or other workplace retirement account into an individual retirement account. That might not be the right move. In my latest for the Associated Press, why having more investment choices isn’t necessarily better.
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Monday’s need-to-know money news
Today’s top story: What to do when your holiday gifts haven’t arrived. Also in the news: A new episode of the Smart Money podcast on financial accomplishments, how pet insurance can keep costs in check, and the benefits of an unpaid internship. Your Holiday Gifts Still Haven’t Arrived. Now What? Remain calm. Smart Money Podcast: […]
Q&A: Lump sum vs. annuity
Dear Liz: You recently answered a question about taking a lump sum retirement versus an ongoing pension. You didn’t mention that the pension will stop when the employee dies (whether it’s after 40 years or 40 days) or when the spouse dies (same thing) if that was chosen. The children get nothing. What about taking […]
Q&A: Look for a fee-only planner
Dear Liz: I am starting to receive marketing mailings from financial advisors inviting me to a free lunch or dinner to listen to annuity investment presentations. I went to one recently by a fee-based financial planner who told me he also acts as a broker when investing in annuities. He’s been pressuring me to invest […]
Q&A: What you need to know about power of attorney documents
Dear Liz: My husband has Parkinson’s disease and is showing early signs of dementia. I’ve been advised to get a financial power of attorney. If all of our accounts are joint, is this necessary? What will that do for me? Answer: A power of attorney gives you the authority to make decisions on your husband’s […]
Thursday’s need-to-know money news
Today’s top story: A year-end checklist to make the most of retirement age. Also in the news: How the government’s next step to fight inflation could impact savers, myths about iBuyers, and why you shouldn’t spend a dollar to save a nickel on gas. A Year-End Checklist to Make the Most of Retirement Savings Age […]