Retirement

Wednesday’s need-to-know money news

October 8, 2014 By Liz Weston

Today’s top story: How to build credit faster. Also in the news: Debunking financial planning misconceptions, the dangers of overdraft fees, and why too many people are underestimating post-retirement health care costs.

Will More Credit Cards Help Me Build Credit Faster?
Proceed with caution.

6 Financial Planning Misconceptions — Debunked
Everyone can use a little help.

How to Avoid Paying Your Bank $70 to Borrow $6 for 6 Days
The perils of overdrafts.

Too Many Underestimate Healthcare Costs In Retirement
Planning ahead realistically is crucial.

When To Declare Bankruptcy
When to make one of life’s most difficult decisions.

Get free financial advice

October 6, 2014 By Liz Weston

Need some free, one-on-one financial help from a qualified advisor with no strings attached? Check out the Financial Planning Days being offered around the country throughout October and November.

These events are brought to you by a host of reputable organizations: the Certified Financial Planner Board of Standards, the Financial Planning Association, the Foundation for Financial Planning and the U.S. Conference of Mayors. Kiplinger is the national media sponsor.

Given how hard it can be to find good, un-conflicted advice–let alone getting it for free–these sessions can be a real boon. Even if you don’t sign up to talk to a CFP, you can attend one of the informational workshops on various financial planning topics.

Sound good? Check out this link to see if there’s an upcoming event in your area. LA and OC peeps: your events will be held Sunday Oct. 18, so register now!

News you can use for retirement

October 2, 2014 By Liz Weston

Reuters news service has posted its “Retirement Roadmap 2014,” a collection of good advice on topics that don’t get as much attention as they should. My favorite of the bunch is Beth Pinsker’s piece on choosing a rehab facility after surgery, either for yourself or a parent. It’s not a sexy topic, but if you’ve ever been in this situation you realize how little information is out there to help you choose well. Another important topic is choosing a new Medicare plan, since open enrollment is coming up and most people just stick with what they have–not realizing they’re paying more than they should. This would be a great article to pass along to anyone you know who’s 65 or over.

And then, for fun, read about a couple who sold their house to travel the world…and dream a little.

Here are the links you’ll need:

Video: Guide to Healthcare Costs
From Medicare to long-term care to health savings accounts. We explore the options – and the possibilities – in episode one of our 12-part series.

Stern Advice: Should you tap your 401(k)to buy a house?

Why it pays to pore over your Medicare drug plan – every year

How to choose the best rehab facility after a hospital stay

It happens: Seniors with student debt – and smaller Social Security checks

Extreme retirement abroad: How one footloose couple sees the world

Wednesday’s need-to-know money news

October 1, 2014 By Liz Weston

Today’s top story: How to help a family member buy a house. Also in the news: Personal finance mythbusting, easy ways for retirees to cut spending, and how to get good financial advice for free.

The Right Way to Help a Family Member Buy a Home
Making the process easier for both of you.

Why These 4 Personal Finance Myths Perpetuate Money Problems
Some long overdue mythbusting.

Retirees: 9 easy ways to cut spending
How to painlessly reduce your spending.

How You Can Get Good Financial Advice for Free
Take advantage of free Certified Financial Planner days.

Keep Track of Your Hourly Wage, Even If You’re Salaried
Your time is as valuable as your money.

Friday’s need-to-know money news

September 26, 2014 By Liz Weston

Today’s top story: How to save on closing costs when buying a new home. Also in the news: Unnecessary credit cards fees, money management lessons for teens, and why you should never feel self-conscious about being frugal.

5 Ways to Save on Closing Costs
You’re already spending enough on the house.

Check Your Credit-Card Bills for These Added Fees
Your bank may owe you a refund.

5 Basic Money Management Lessons for Teens
If only they came in the form of text messages.

6 Reasons to Consider Semi-Retirement
Working part time could be good both financially and socially.

Why You Should Never Feel Self-Conscious About Being Frugal
Be proud of your money management!

Thursday’s need-to-know money news

September 25, 2014 By Liz Weston

Today’s top story: How you could be spending too little in retirement. Also in the news: How a late payment could disable your car, what bills to pay when you can’t pay them all, and deciphering the “Nanny Tax”.

7 Signs You’re Spending Too Little In Retirement
Yes, you read that correctly.

Miss a Payment? Good Luck Moving That Car
A late payment could leave you stuck in the driveway.

What Order Do You Pay Bills When You Can’t Pay Them All?
How to manage your finances in difficult times.

Do I Have to Pay ‘Nanny Tax’ on a Babysitter?
If you pay more than $1900 a year, the answer is yes.

How to Be Frugal and Invest the Difference
Even saving small amounts can make a difference.