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.
Tompor: With credit card debt up 7.5 percent, next financial
disaster could be you 03-11-19
We all seem to be on the
lookout for clues that we’re on the verge of another widespread
effect? SoFi launches ‘free’ ETF as fee war flares among brokers
Anyone paying down
student loans may recognize the name SoFi from ubiquitous mailers
and Super Bowl ads.
Journey: Investors in or nearing retirement should pay attention to
the markets 03-04-19
The very young and very
old needn’t worry so much about market turbulence, we’re often
told. Over a long time, volatility smooths out quite nicely for the
young. Older retirees, hopefully, have tamped down enough risk in
their portfolios that a stock shock shouldn’t cause much of a
Tompor: Online romance scams cost victims thousands 03-04-19
Day candy is nearly gone from store shelves, romance –– and the
scams that go with it –– goes on year-round.
Tompor: Smaller tax refunds darken an already grim consumer debt
The U.S. economy may be
strong. But we continue to see signs of financial stress that
indicate that just having a job may not be enough to pay the bills.
Journey: New post-retirement job: making the world a better place 02-18-19
Retirement experts often
recommend working longer as a way to make savings outlive the saver,
but it isn’t always easy.
Tompor: How to avoid the Social Security scam that makes you out to
be a criminal 02-18-19
Maybe con artists are
inspired by the movie “The Mule” where Clint Eastwood plays an
octogenarian who hauls cocaine shipments in a Lincoln pickup for a
paycheck to paycheck? This San Diego startup wants to help you shop 02-18-19
SAN DIEGO — Buy now and
pay later. It’s an irresistible offer, especially for
cash-strapped Americans living paycheck to paycheck.
Tompor: New tax deduction cap could turn big refund into big tax
The big tax question of
the year: Will you get a super-sized refund or suddenly discover
that you’re going to end up writing one monster check?
Journey: Where is the safe haven for retirees? 02-04-19
Q. My wife and I are both
66. She has retired and started Social Security; I am working part
time, receiving a small pension from a previous job, taking dividend
income from a rollover account where I put my 401(k) funds, and
putting off starting Social Security.
Tompor: Tax refund advance often too good to be true: What to know 02-04-19
Plenty of people would
jump at the chance to speed up getting some of their tax refund
cash, especially in light of the government shutdown, job cuts and
other financial headaches.
to file 2018 taxes and how to dig through new rules 02-04-19
Sitting down to do your
taxes in the next few weeks — or talking with your tax preparer
— will involve tackling the most sweeping changes in the federal
income tax rules in more than 30 years.
Tompor: How the gender pay gap hurts women’s retirement and 401(k)
Any woman who isn’t
investing money in a 401(k) plan — or maybe only sets aside a tiny
amount — needs to realize that the retirement game is stacked
Journey: ‘Bucket’ approach to spending reduces stress of
Anyone retiring in 2019
could understandably be feeling a little skittish. There’s
retirement research showing market declines in the first few years
can devastate a portfolio’s chances of providing enough income for
life, and recent volatility after a nearly decade-long bull market
Tompor: Leases, used car sales could be hurt by tax refunds: What to
The warnings flashed a
few years back: 2019 was to be a year of the “lease tsunami.”
A glut of cars, trucks and SUVs leased a
few years ago are set to come off three-year leases and return to
dealer lots, driving down used car prices.
Tompor: Key trends that will hit your wallet in 2019 01-14-19
Many times, the New Year
kicks off with a huge financial hangover. But this year, we’re
looking at even more reasons to keep an eye on our money.
Tompor: Tax refund scammers are finding new ways to steal from you 12-31-18
A coordinated crackdown
on tax-related, ID theft has drastically reduced the numbers of new
refund fraud victims. But new schemes keep popping up all across the
Journey: Medically underwritten annuities can boost income for those
who qualify 12-24-18
Retirement plans focus on
boosting the number of participating workers and the percentage of
pay being saved, but few prioritize how employees will actually fare
financially once in retirement, a new study shows.
Tompor: Five things to know about your money in 2019 12-24-18
No doubt, 2018 is ending
on an economic thud. Fear that
the next recession is around the corner has been knocking down stock
prices and our 401(k) plans.
on expensive drugs? Discount cards may not help in 2019 12-24-18
Buying drugs to treat
chronic health problems such as HIV/AIDS, arthritis, hemophilia,
Hepatitis C, and multiple sclerosis is becoming more expensive,
thanks to a tug of war between the health insurance and prescription
Tompor: Social Security calling? Nope, it’s scammers out to grab
your cash 12-17-18
Watch out, the Social
Security scam is looking like the new IRS scam. Crooks
increasingly are impersonating an official from the Social Security
Administration, making harassing calls similar to the annoying
Internal Revenue Service calls.
is no friend to shareholders seeking more details on firms’
political spending 12-17-18
When shareholders of
Camden, NJ-based American Water Works asked fellow investors to
support a measure on corporate political spending accountability
this year, Vanguard voted ‘no.’
Journey: Life insurance is being squeezed out by other household
Multiple studies have
tagged millennials as risk-averse, so why are they shunning life
Tompor: Year-end giving doesn’t guarantee getting a tax break 12-10-18
In years past, nearly
one-third of all annual donations were made in the month of
December, as people made their charitable gifts before the deadline
for tax deductions.
Bogle pens WSJ op-ed warning index funds becoming too big 12-10-18
The creator of low-cost
indexing warns his invention may have grown too powerful. Vanguard
founder John Bogle penned an opinion piece for the Wall Street
Journal (paywall if you click) offering potential guardrails against
the ever-growing power of institutional index fund managers —
including his own firm Vanguard, plus State Street, and BlackRock.
Philanthropy: On Philanthropy: Best excerpts from the first 100
Since 2010, I have now
written 100 columns addressing many aspects of philanthropy — for
families, businesses and foundations.
Tompor: The gift your kids will thank you for later 12-03-18
Looking for a clever way
to give money — something beyond shoving cash in an envelope —
remains a fun challenge during the holidays.
Journey: Changes in tax law lead to shifts in giving 11-26-18
Older retirees may save
Christmas for charities. Donors
gave a record $410 billion to nonprofit causes last year, according
to Giving USA Foundation, in part because taxpayers were bunching
contributions ahead of this year’s higher standard income tax
deduction, experts say
Tompor: Black Friday shoppers: Scammers likely to use ‘pick up in
store’ scam 11-26-18
We’re looking at 32
days of endless shopping from Black Friday through Christmas Eve —
the longest holiday spending spree possible given that Thanksgiving
falls so early in November.
Tompor: Paying off student loan? Repayment options you should
November marks a time to
talk turkey about how to repay those student loans. Are
you looking for a way to keep the monthly payments as low as
possible? Or a way to control your total debt?
Journey: Decisions due soon in Medicare open enrollment 11-12-18
routinely advise Medicare participants to scrutinize their options
during the federal health care plan’s open enrollment period,
which runs through Dec. 15, but this year the warnings are taking on
some added urgency.