Each phase of life
comes with its own set of financial circumstances, goals and
necessities. The question is, how should we be spending, or
saving, our income as we move through different stages?
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.
split the millennial generation into haves and have-nots 06-12-17
MINNEAPOLIS — Heather
Axtman was a senior in college in 2006 when she landed an internship
at Thomson Reuters. By the time she graduated from the University of
Minnesota, the company had offered her a full-time job.
MarksJarvis: Planning to work past retirement? Here’s why that
idea could be a bust 06-12-17
Baby boomers with paltry
401(k)s and IRAs are vowing to work forever, or at least, past
traditional retirement age. But a new report says a crowded labor
market will limit their ability to amass the savings they need even
if they do work long past 65.
basic income would pay everyone to improve quality of life 06-12-17
SAN JOSE, Calif. — With
an impending robot revolution expected to leave a trail of
unemployment, some Silicon Valley tech leaders think they have a
remedy to a future with fewer jobs: free money for all.
like a billionaire
become a huge success, you might decide to blaze your own trail. But
hacking through the jungle of life can leave you bruised and
battered by the time you finally reach your destination.
credit cards have revolving balances
half of credit card accounts in the U.S. carry balances from month
to month, according to a new report by the American Bankers
Association. With the average credit card interest rate hovering
near 16.5 percent, revolving balances are a wildly expensive way to
pleasures that won’t cost you a dime 06-05-17
average American consumer spends more than $56,000 every year. While
a good portion of that money goes toward basic necessities, the
total also includes a whole lot of impulse buys, meals out, Netflix
subscriptions and trips to Starbucks.
MarksJarvis: Heading to college in the fall? You’ll need a bigger
you’re heading off to college, prepare to dig a little deeper into
your pockets. Borrowing money to pay for higher education is
becoming more expensive.
MarksJarvis: Why this year’s college grads aren’t chasing jobs
at startup companies 05-22-17
The fantasy of graduating
from college and immediately going to work with the next Mark
Zuckerberg is dying.
Fed raises interest rates, CD rates remain in the dumpster 05-15-17
A decade ago, just before
the last recession kicked in, savers were earning an average
of nearly 4 percent on one-year CDs. That
sounds like a fortune compared with the near-zero returns that
depositors have endured in recent years.
big tax bill complicate finances for mother of two 05-08-17
SEATTLE — For six years
Kirsten Flack was a stay-at-home mom with small children and a
husband who earned a comfortable income. Then everything came
crashing down in divorce.
MarksJarvis: Why your 401(k) is vulnerable as tax reform plays out
in Washington 05-08-17
If you are counting on
401(k) savings to keep a roof over your head when you retire, don’t
take your eye off tax reform negotiations in Washington.
an annuity in an IRA may not be, as some say, like wearing a
raincoat indoors 05-08-17
are contracts between individuals and insurance companies that
provide the purchaser with a steady stream of income during
retirement. They often play a role in replacing or supplementing
other fixed income streams, such as pensions and Social Security.
your kids’ or grandkids’ student loans? Think twice 05-01-17
PHILADELPHIA — Though
the biggest debt for older consumers remains home mortgages,
student-loan debt is becoming more common.
MarksJarvis: Having plenty of money for retirement doesn’t mean it
will last long enough 05-01-17
Is retirement starting to
tempt you? Maybe
you peer into your 401(k) and think: "Not bad. Should I go for
you’ve even run some numbers on a calculator to assure yourself
that you can remove 4 or 5 percent of your savings each year for
living expenses, or your financial adviser confirms you have plenty
of money to last to age 90.
software sweeping large accounting firms and clients 04-24-17
MINNEAPOLIS — Marna
Ricker has her own personal robot. While
it doesn’t shoot lasers or clean her Minneapolis office Roomba-style,
her "bot" can do some of her digital data dirty work so
she doesn’t have to.
MarksJarvis: Unsure if you’re saving enough for college? Check out
these new tools 04-24-17
do you know if you are saving enough for college? New Fidelity tools
take some of the mystery out of the process and could help ensure
that families don’t come up short.
rise of sports TV costs and why your cable bill keeps
going up 04-24-17
Getting your credit card
company to treat you better may be easier than you think.
Nearly 90 percent of
consumers who asked their card issuer to reverse a late fee were
successful, according to a report by the credit card comparison site
you need a financial plan for your money — and happiness 04-17-17
SAN DIEGO — A marriage
destroyed because a husband paid for a pool in the backyard, nice
cars and frequent dinners at restaurants — money he should have
been squirreling away for his son’s college tuition.
MarksJarvis: Borrowers must fight for themselves as student loan
reforms are rolled back 04-17-17
to people wondering how they are ever going to handle all their
student loans: Be tough. Pay up. Don’t expect the federal
government to play Mr. Nice Guy.
high fees, customers see check cashers as part of community 04-17-17
— From behind the Plexiglas window at the back of his Brooklyn
Park shop, Charlie Ward spotted one of his regular customers coming
MarksJarvis: Filing for an extension on your taxes doesn’t
necessarily mean an audit
Taxes are due April 18.
What should you do if
you can’t finish your tax return on time or if you don’t have
the money to pay your taxes now?
millennials ‘Venmo’ each other money, banks fight back with
their own mobile apps
Odds are, you’ve at
least heard of Venmo, but there’s also a good chance you haven’t
used the mobile app or anything else like it to send money to family
owners tap into sharing economy to help offset costs
— A couple of times a month, Baltimore resident Patrick Campbell
hands the keys to his BMW 335is two-door coupe over to a stranger to
drive for a few days.
index annuities: ‘Magical’ or ‘unsuitable’? 03-20-17
PHILADELPHIA — That
night, like most nights, Phillip J. Cannella III warned that the
financial world was at the brink of a massive meltdown, one that
would wipe out savings and crush retirees.