The way our brains work can cost us a lot of money. But some of our mental quirks can be turned to our advantage. Cognitive biases are the faulty ways of thinking that can persuade us to run up debt, save too little and make stupid investment decisions. The bandwagon effect, for example, entices us […]
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Monday’s need-to-know money news
Today’s top story: Retirement costs that could surprise you. Also in the news: A new episode of the SmartMoney podcast on keeping your New Year’s money resolution, how procrastinators can win at gift-giving, and another reason to not pay for your gas at the pump. Retirement Costs That Could Surprise You Covering all the bases. […]
Q&A: Rising insurance premiums
Dear Liz: I’m an insurance agent specializing in long-term-care policies and just read your advice to the woman who was upset about how much her premiums had risen. Her premiums were $2,400 annually starting when she was 55 but are $4,470 now that she’s 77. First, thank you for noting that these premium increases are […]
Q&A: When savings are meager, it might be time to unretire
Dear Liz: I’m 67, retired and have $83,000 in a 401(k) that I left with my employer. Should I see a certified financial planner? Based on my current income, I either need a job, or I have to start pulling $10,000 from my 401(k) each year, which will clean out my account in eight years. […]
Thursday’s need-to-know money news
Today’s top story: How your employer can help you save for emergencies. Also in the news: Tips and traps when buying a used car at auction, 4 questions to consider before opening a new credit card, and how to actually read your retirement account statements. How Your Employer Can Help You Save for Emergencies Employer-supported […]
Wednesday’s need-to-know money news
Today’s top story: Make sure a new holiday credit card plays well with others. Also in the news: How one couple paid off over $200K of debt in six years, how to tell if consolidating your student loans would actually save you money, and the 10 best finance movies of the decade. Make Sure a […]