Friday’s need-to-know money news

Today’s top story: Taking a “micro trip” before the holidays. Also in the news: Money summits for couples, the best and worst US cities for retirement, and the top 10 most regrettable mistakes retirees made in the 20s.

Need a Break Before the Holiday Break? Consider a ‘Micro Trip’
A little relaxation before the holiday rush.

Start With a Money Summit to Hit Your #couplegoals
A meeting of the minds.

Here are the best and worst US cities for retirement
Did yours make the list?

Top 10 Most Regrettable Mistakes Retirees Made In Their 20s
Learning from others.

Q&A: Can this marriage’s finances be saved?

Dear Liz: I am 64 and my husband is 63. I retired five years ago after a 30-year professional career. My husband is an executive and plans to work until 70. We own two homes and one is a rental property. Both our boys are successfully launched. Currently, 67% of our retirement money is in stocks and stock index funds. The rest is cash and IRAs or 401(k)s. I am working on re-allocating that 67% to safer investments, but our two investment advisors don’t even agree on what that would look like. And my husband does not want to leave potential stock market gains. Help! I think it is time to switch to more conservative investments. What do you think?

Answer: Many financial planners would say you should only take as much risk as required to in order to reach your goals. Exactly what that looks like depends on how much you’ve saved, how much you spend and how much guaranteed income you expect to receive from Social Security, pensions and annuities, among other factors.

Most people need a hefty exposure to stocks in retirement to get the returns they’ll need to beat inflation, but whether that proportion is 30% or 60% depends on their individual circumstances. Your current allocation could be fine if your basic expenses are entirely covered by guaranteed sources (Social Security, pensions, annuities) and you want to leave a substantial legacy for your sons. Or you could be way overexposed to stocks and vulnerable to a downturn if you’ll need that money for living expenses soon.

Your IRAs and 401(k)s are not investments, by the way. They’re tax-deferred buckets to hold investments. How that money is allocated among stocks, bonds and cash matters as much as how your other investments are allocated and should be included when calculating how much of your portfolio should be in stocks.

If neither of your investment advisors is a certified financial planner, consider seeking one out to create a comprehensive financial plan for you and your husband. The plan should consider all aspects of your finances and give you a road map for investing and tapping your retirement savings. You can find fee-only financial advisors through the National Assn. of Personal Financial Advisors, the XY Planning Network, the Alliance of Comprehensive Planners and the Garrett Planning Network.

Thursday’s need-to-know money news

Today’s top story: Don’t be duped by these phone and email scams. Also in the news: Help with checking your finances, how a single mom paid off nearly $80K in debt in eight months, and 1 in 5 Americans are hiding this financial secret from their spouses.

Don’t Be Duped by These Phone and Email Scams
Watching out for scammers.

Can’t Bear to Check Your Finances? Here’s Help
Ignorance isn’t bliss.

This single mom paid off $77,281 of debt in eight months—here are 5 steps she followed
Time to track everything.

1 In 5 Americans Are Hiding This Financial Secret from Their Spouses
Transparency is key.

Monday’s need-to-know money news

Today’s top story: What you might get from the Equifax data breach settlement. Also in the news: 5 logical credit moves that can lead to trouble, 8 money mistakes newlyweds make, and how to decide if you should get a cash-back credit card.

What You Might Get From the Equifax Data Breach Settlement
150 million consumers were affected.

5 ‘Logical’ Credit Moves That Can Lead to Trouble
Common sense doesn’t always apply.

8 Money Mistakes Newlyweds Make
Don’t start off married life on the wrong foot.

Should You Get a Cash-Back Credit Card?
How to decide which card is best for you.

Thursday’s need-to-know money news

Today’s top story: TransferWise launches traveler and immigrant-friendly debit card. Also in the news: How to get free baby stuff, dodging dealership dread with online used car sellers, and how to protect your money in a divorce.

TransferWise Launches Traveler- and Immigrant-Friendly Debit Card
No foreign transaction fees.

How to Get Free Baby Stuff: Diapers, Clothes and More
Free stuff for the newbie.

Dodge Dealership Dread With Online Used Car Sellers
Buy a car right from your phone.

How to Protect Your Money in a Divorce
All about the prenup.

Thursday’s need-to-know money news

Today’s top story: How to share a deed without an ‘I Do.’ Also in the news: 15 financial tasks for those preparing for a baby, 5 myths about debt consolidation, and why you should always check your automatic bill payments.

How to Share a Deed Without an ‘I Do’
Protecting your individual investments.

Preparing for a baby? Make sure you tackle these 15 financial tasks
Things are about to change.

5 myths about debt consolidation
Separating fact from fiction.

Always Check Your Automatic Bill Payments
You could be missing increases.

Thursday’s need-to-know money news

Today’s top story: 5 travel rewards myths that could cost you. Also in the news: 5 things to know about the Hilton Honors AmEx business card, what to know about SIMPLE IRAs, and how to manage household finances after your spouse dies.

5 Travel Rewards Myths That Could Cost You
How to make the most of your rewards.

5 Things to Know About the Hilton Honors AmEx Business Card
Solid benefits.

What Is a SIMPLE IRA and How Do I Open One?
The small company version of a 401(k).

How to Manage Household Finances After Your Spouse Dies
Navigating new financial waters.

Wednesday’s need-to-know money news

Today’s top story: Why you may overspend on the holidays and how to stop. Also in the news: One woman’s way out of debt, why a late credit card payment may cost more in 2019, and how to get on the same page with your partner about money.

Why You May Overspend on the Holidays and How to Stop
Curbing your holiday spending.

How I Ditched Debt: Thrifty Living and Side Gigs
One woman’s story.

A Late Credit Card Payment May Cost You More in 2019
Late fees are on the rise.

How to Get on the Same Page With Your Partner About Money
Financial compatibility is essential.

Wednesday’s need-to-know money news

Today’s top story: One couple’s real estate journey to a home in Philadelphia. Also in the news: What rising DTI limits mean for your next mortgage, why the cashless trend doesn’t have all shoppers sold, and bad money habits you could be guilty of.

How I bought a home in Philadelphia
One couple’s real estate journey.

What Rising DTI Limits Mean for Your Next Mortgage
Know your debt-to-income ratio.

Why the Cashless Trend Doesn’t Have All Shoppers Sold
For some, cash is still king.

Are You Guilty of These Bad Money Habits?
Sound familiar?