Locally grown. Locally
sourced. These days it is all about going local. But what about
investing? Can a portfolio be locally sourced? Is it a good idea?
want to start a business, but don’t have the start-up money or the
collateral to ask the bank for a loan? And you don’t want to ask
friends or family? Do the next best thing — ask a stranger.
for your retirement
retirement plan on track? How do you know? According to a survey by
Employee Benefit Research Institute, 60 percent of Americans aren’t
sure they’re on track to retire successfully. Unfortunately, many
of them may be right.
credit card companies and financial institutions are becoming
smarter about protecting people’s personal information online,
credit card fraud and identity theft are still very real threats.
and managing money
millennials have been labeled with negative stereotypes like
materialistic and entitled, the reality is that crippling debt and
lack of employment opportunities have significantly impacted this
generation’s financial future.
this. You’ve been invited to a meeting; when you get there you
realize it’s the first meeting after your own death. You can’t
say anything. You can only observe. What do you see? Is your family
celebrating your life or are they sitting there helpless not knowing
what to do or whom to trust."
the hot seat
an aspiring entrepreneur seeking money from angel investors, you’d
better be prepared with a snappy pitch to get their attention.
Great Recession becoming a distant bad memory, people are once again
thinking about the future — including retirement planning.
But the recent economic
setbacks have left many wary of the market and the security of their
comes to wealth management, there are several ways good intentions
can go awry. Our panel of experts outlines five common mistakes and
advises how to avoid them. Knowledge is power, and in this case, it’s
up in Glendale with six siblings in a single-parent household, the
Bendfeldt sisters learned to be resourceful at an early age.
"We were forced to
be MacGyvers," says Amy Bendfeldt Barnum. "If there was
something we wanted, we had to get creative."
employment in today’s marketplace depends on the ability to offer
relevant skills, especially those considered "nonroutine
analytical," says Dennis Winters, chief economist for the
Wisconsin Department of Workforce Development.
us have financial goals, whether it is to retire at a reasonable
age, fund our children’s education, do some traveling or simply
manage debt. While overall plans haven’t changed, people’s
attitudes have gone through a period of adjustment — and that’s
occurring across all age groups, local industry experts say.
MarksJarvis: America, retailers would really, really like you to go
Have you thought of
buying a new outfit, adding a little spark to your home, or treating
yourself in some way?
Americans don’t have enough money to cover a $500 emergency 01-25-16
Most Americans don’t
have the money to handle common emergencies like a car breakdown or
a trip to the emergency room for a broken bone.
offers tips on how to find competent financial adviser 01-25-16
The No. 1 red flag that
an investor may be dealing with a bogus financial adviser, according
to money coach Liz Davidson, is if he or she guarantees a high
percentage return with no risk.
Tompor: Tax season opens Tuesday as IRS starts taking returns 01-18-16
H&R Block has already
rolled out its TV commercials promoting a chance for 1,000 people a
day to win $1,000.
MarksJarvis: If this is a bear market, what should you do? 01-18-16
The violent plunge in the
stock market this past week stoked fears of a bear market.
So far the market is
merely in a correction, with the Standard & Poor’s down about
8 percent this year and 11 percent from its 2015 peak.
Journey: Retirement moves to make this year 01-18-16
Face it: You probably
could have done more in 2015 to help your retirement picture, and
you weren’t alone. A Capital One Bank survey released in December
found that only a third of respondents accomplished their financial
goals last year.
Huddleston: How to negotiate hospital bills 01-18-16
Medical bills can blow up
anyone’s budget. A survey by the Commonwealth Fund found that 64
million people had difficulty paying their medical bills.
Journey: Your birth date affects how Social Security change affects
The cuts to a couple of
key Social Security claiming strategies — squeezed into federal
budget legislation in October — continue to confound seniors,
whether or not they’re actually affected by the changes.
Started: A few money resolutions for the New Year 01-11-16
Saving more, spending
less, paying for college. These might be some of the financial
resolutions you make for the New Year.
Huddleston: 3 most common money mistakes when you’re living
paycheck to paycheck 01-11-16
Millions of Americans are
living paycheck to paycheck. But while around one-third of
Americans, or 38 million households, are living hand-to-mouth.
Tompor: Got a complaint? Or compliment? BBB has new tool 01-04-16
president and CEO of the Better Business Bureau serving eastern
Michigan and the Upper Peninsula, gets the obvious question every
now and then in this 24/7 online world.
Journey: As rates rise, more pensions offer lump-sum payouts. Now
The Federal Reserve’s
move to inch up interest rates for the first time in nine years won’t
immediately hand seniors the decent yields they’ve been craving on
safe money, but it may prompt some new pension and fixed-income
Started: The Fed has raised interest rates: What do millennials need
to know? 01-04-16
At long last, the Federal
Reserve has raised its benchmark interest rate. But the impact on
savings accounts and loans won’t be big, at least for now.
Friedberg: How to invest in yourself when you’re in your 40s 01-04-16
You’ve reached your
40s, have a family and a job, and maybe you think it’s time to
coast into the future. Think again.
MarksJarvis: Lick your wounds: Neither stocks nor bonds were kind in
After a dismal stock
finish to 2015, your natural conclusion might be: Why did I bother?
If you glance at the
markets and stock funds in your 401(k), IRA or college fund and
subtract the money you plopped into the accounts during the year,
you likely will see a sum that looks a whole lot like where you
Journey: Understanding the new Social Security claiming rules 12-28-15
Q. I am 66, retired, and
have not filed for Social Security. My monthly benefit will be about
$2,100. My wife is 64, filed for Social Security on her own record
in November, and has a primary insurance amount of $2,080, but a
reduced benefit for filing early of $1,837.
prepaid debit cards target niches or aim to replace bank accounts 12-28-15
Steve Streit conceived the prepaid debit card, he had something very
specific in mind: a way to let kids spend money online without using
a parent’s credit card.
lenders judge you on much more than finances 12-28-15
All it takes is a
keystroke, maybe two, to hurt your chances of borrowing money from
online lender Basix.
left me money, but does Uncle Sam get it as repayment for my
This week, I fielded
questions about the circumstances under which people have to repay
premium tax credits for health insurance purchased on the
marketplaces and about Medicare coverage of dental services.
nears for certain seniors to withdraw from IRAs 12-21-15
— For senior citizens age 70 1/2 or older who have not yet taken
the annual required minimum distribution from their IRAs, time is
MarksJarvis: Worried about junk bonds? Check your fund ratings 12-21-15
Now you see why
high-yield bonds are called junk. They
can be sloppy and unreliable — sometimes the stinkiest garbage
from the junkyard of the bond market. And they can stink up your
investments, too. They have lost about 8 percent this year.
takes a bite out of ‘Sandwich Generation’ 12-14-15
PITTSBURGH — It was
challenging enough for Joy Robison to care for her terminally ill
mother while she lived only a few minutes away.
tide of spending, debt swamps pair 12-14-15
SEATTLE — Jason
Newquist had a good job with a six-figure salary, and Kristin
Mueller was building her mental-health counseling practice, but
something was amiss with the couple’s household finances.
your life savings to long-term care 12-07-15
SAN DIEGO — When he was
growing up in Queens, N.Y., in the 1930s, Robert Raymond’s family
struggled with money. He remembers vowing that he wouldn’t be in
the same financial position when he got older.
of college grads plan to move back home, study finds 12-07-15
PITTSBURGH — When the
scholarship and grant money that Danielle Newman received to attend
the University of Pittsburgh did not cover the full price tag of
attending, the 18-year-old freshman used a student loan to cover the
MarksJarvis: 8 easy ways to cut your taxes now 12-07-15
Right now you’re
probably thinking more about Santa Claus than Uncle Sam.
But a little attention
to Uncle Sam between now and the end of the year may make his visit
less painful when you do your tax return in a few months.
Journey: How divorce and remarriage affect your Social Security
Q. I am 64 and work full
time. I plan to claim Social Security benefits at 70. My ex-husband
is 66 and we were married for 19 years.
MarksJarvis: Scared about investing? You can let robots handle it 11-30-15
If you feel dumb about
investing, maybe a robot can do it for you. In
fact, that’s what traditional investment advisers are worried
about as more flesh-and-blood investors turn to computer-driven