Ask Liz Weston

Get smart with your money

investment

Thursday’s need-to-know money news

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Today’s top story: Grimace-free ways to learn personal finance. Also in the news: How to stop anxiety from sabotaging your investments, and what to look for in a house if you want to start a family.

Grimace-Free Ways to Learn Personal Finance
Outrageous statements and flashy graphics grab attention, but there’s also plenty of sound, factually correct money content out there – and some of it is even entertaining.

How to Stop Anxiety From Sabotaging Your Investments
Fear is the mind-killer—don’t let it be the IRA killer, too.

What to Look for in a House If You Want to Start a Family
Beyond good schools and a quiet street, it helps if you can find these features.

Monday’s need-to-know money news

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Today’s top story: Should you bank with your brokerage?Also in the news: AirPods Black Friday 2021 deals, Smart Money Podcast on the benefits of being boring with your money, and saving money even back at the gym.

Should You Bank With Your Brokerage?
A cash management account can make it easier to invest, and CMAs have their own unique banking-style benefits.

AirPods Black Friday 2021 Deals: Are They Worth It?
Amazon and Best Buy are marking the AirPods Pro down to $189.99.

Smart Money Podcast The Benefits of Being Boring With Your Money, and Why to Make a Will ASAP
The benefits of being boring with your money.

Quitting Peloton? You Can Save Money, Even Back at the Gym
Peloton’s weak earnings data indicates that people are quitting at-home workouts. It could save you money, too.

Wednesday’s need-to-know money news

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Today’s top story: What to do if an ATM eats your deposit. Also in the news: Betterment adds a charitable giving option, 3 things you definitely shouldn’t finance, and the best Cyber Monday sales for 2017.

What to Do if an ATM Eats Your Deposit
Don’t panic.

Betterment Adds a Charitable Giving Option
Just in time for Giving Tuesday.

3 things you definitely shouldn’t finance
Don’t take out that credit card just yet.

Best Cyber Monday Sales for 2017
No need to fight the crowds.

Q&A: Money in the bank isn’t safe from inflation

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Dear Liz: I am 68 and not in very good health due to heart disease. I’m not sure what do with my savings of over $1 million, which sits in online bank accounts, earning 1.25% to 1.35% in 18-month certificates of deposit. (No account contains more than $250,000 to remain under the FDIC insurance limits.) The money will eventually go to my daughter, though I could use it for my retirement. I don’t have the appetite for market swings. What should I do with my money?

Answer: Your money currently is safe from just about everything except inflation. If you want to keep your nest egg away from market swings, you’ll have to accept that its buying power will shrink. There is no investment that can keep your principal safe while still offering inflation-beating growth.

If you do want a shot at some growth, you could keep most of your savings in cash but also invest a portion in stocks — preferably using low-cost index mutual funds or ultra-low-cost exchange-traded funds.

Before you know how to invest, though, you’ll need to think about your goals for this money. A fee-only financial planner could help you discuss the possibilities and come up with a plan. You can find fee-only planners who charge by the hour through the Garrett Planning Network, www.garrettplanningnetwork.com.