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.
establishing an emergency fund could help manage debts, boost saving
SEATTLE — Seattle’s
soaring home prices drove renters Kathryn Jacoby and Jeff Whitehill
to a sobering conclusion last summer: If they didn’t buy a house
before prices rose higher, they could never afford to own a home in
fiduciary rules have financial advisors training, retiring 01-30-17
PITTSBURGH — As head of
the largest independently owned financial advising firm in the
Pittsburgh region, managing billions of dollars in clients’ money,
Kimberly Fleming is feeling the weight of responsibility to get her
staff trained on procedures to meet sweeping rules the federal
government plans to impose in April.
MarksJarvis: Think you missed the Dow 20,000 party? If you have a
401(k), you likely benefited 01-30-17
you have Dow 20,000 envy? Take
heart, you might be richer than you think. You
may have wished during all the hype over the Dow Jones industrial
average hitting 20,000 that you had been buying stocks.
fares: Does the day you buy matter? 01-30-17
would like a magic potion to predict the best time to buy an airline
ticket to get a good deal at the lowest price.
outlook for stocks could benefit financial pros 01-23-17
MINNEAPOLIS — Stock
prices are likely to be more volatile in 2017 than in recent years,
a change that should benefit financial pros.
season opens Jan. 23, and some refunds may be delayed 01-23-17
The IRS will begin
accepting 2016 tax returns on Jan. 23, and this year’s deadline is
April 18 — not 15 — because the deadline arrives on a weekend,
and is followed by the Emancipation Day holiday in Washington.
MarksJarvis: Investment advice? Or sales pitch? New rule will make
that clear for investors 01-23-17
Should you trust the
adviser who’s telling you what to do with your money?
should not. The sad story is that if you are like most Americans,
you are easy prey for the money advice business that’s involved
with over $14 trillion of Americans’ retirement savings.
protecting nest egg, mind the swindlers, adviser says in new book 01-16-17
PITTSBURGH — In his
book highlighting the damage that can be caused by swindlers and how
to avoid them, author Ward Garner included a section on family and
filers claiming earned income tax credit to face refund delay this
PITTSBURGH — Low-income
families who typically receive the federal earned income tax credit
— and a tax refund of several thousand dollars — will have to
wait longer than usual this year to receive those funds, officials
MarksJarvis: How parents can survive the $233,610 cost of raising a
A baby is a bundle of
joy, but get ready if you are starting a family: Raising that little
person also will cost you a bundle.
MarksJarvis: Turning 65 this year? Don’t overlook these 3 steps 01-09-17
If you will be turning 65
this year and plan to keep working, you have essential money
decisions to make that can’t be ignored.
could put an end to inherited IRAs for non-spousal beneficiaries 01-02-17
PITTSBURGH — Retirement
accounts and estate plans may soon be taking a major hit from the
IRS, if Congress decides early next year to change the rules on a
tax strategy involving inherited IRAs that many affluent families
have used to their advantage for years.
MarksJarvis: In 2016 stocks were hot, but bonds were not 01-02-17
2016 was a delightful
year for almost anyone with money in the U.S. stock market and cruel
to people who thought they’d be safe with bonds.
expert: 2017 will be ‘great unknown’ for markets 01-02-17
CHICAGO — Since Donald
Trump won the presidential election, the stock market has been on a
tear and bond investors have been losing money.
US middle class perseveres despite economic perils 12-26-16
MINNEAPOLIS — Money’s
tight for Curtis Griesel, mostly because of the costs of health care
and college tuition, but he still considers himself middle class.
MarksJarvis: Home for the holidays? Talk with aging parents about
When you open the door
and greet your mother or father during the holidays, it’s probably
not a good idea to follow the hug with: "Gee, you’re looking
rise of sports TV costs and why your cable bill keeps going up 12-19-16
LOS ANGELES — Last
year, Americans collectively spent 31 billion hours watching sports
on TV — a 40 percent increase from a decade ago.
investing is no fad, financial experts say 12-12-16
BALTIMORE — Passive
investment strategies, which aim to match market benchmarks like the
Standard & Poor’s 500 rather than beating them, have been
gaining popularity for years.
holiday underway, lenders offer deals for car loans 12-12-16
PITTSBURGH — Car
dealers tend to offer their best deals right around the holidays,
and in recent weeks PNC Bank has been pushing the gas pedal on a
loan program that allows buyers to get pre-approved for a specified
loan limit and then go shopping for the car they want as if they
were cash buyers.
holiday overspending with tips from experts 12-05-16
Overspending at this time
of year can be a serious problem, leading to a holiday hangover in
January, when credit card bills are due.
sure you know what cracking that nest egg means 12-05-16
PHILADELPHIA — Your
retirement nest egg is just that: Money "surrounded by an
eggshell. It can only be broken open once," says retirement
expert Ed Slott.
Bogle: A savings innovation and philosophy that remain relevant 11-28-16
— John Clifton Bogle works in a sunny office lined with books,
piles of newspapers and research, paintings of Napoleon’s battles,
and Frederic Remington cowboy sculptures. At 87, he has slowed down
only a little.
advisers rely on the Monte Carlo method as the financial success
PITTSBURGH — There are
a few common questions that many clients will eventually ask their
financial adviser to answer.
a will can be unpleasant, but it is time worth spending 11-14-16
— Eighty-six-year-old Norman Clark saved up a tidy sum during his
career as an independent plumber before he retired following a stint
as chief plumbing inspector for Allegheny County in the Pittsburgh
region, and he’s not about to be like some people he has heard
about who die without a will.