Thu, June 19, 2008
Most people understand that the FDIC insures certain kinds of bank deposits, like bank CDs. There's no way to “guarantee” an investment against losses, but an FDIC-insured deposit is probably the closest most of us will ever come to a guaranteed investment. However, consumers are sometimes a bit confused about how much FDIC insurance coverage they can have. Read the full article
Thu, May 29, 2008
Recently the mutual fund industry has introduced a new type of financial product targeted at Baby Boomers: income replacement funds. Fidelity has initiated several of these funds and Vanguard's versions of the same idea, known as "managed payout" funds, were rolled out earlier this month. Other companies will doubtless follow their lead; Schwab and John Hancock are reportedly working on similar products. Like any investment product, these funds will be useful for some people. Consumers should be certain that they understand these funds in order to avoid any unpleasant surprises.
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Sat, May 03, 2008
At the time of his death in 1976, billionaire J. Paul Getty was the richest person in the world. It's said that he was once asked how much money he would need to feel that he had enough, to which he replied, “just a little bit more.â€
Many of the clients with whom I’ve worked feel that they don't have quite enough money to accomplish all their goals. On one occasion, a client who was trying to save for an ambitious goal asked me, “which would be better for me to do – reduce my spending or increase my income?â€
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Fri, May 02, 2008
What does it actually cost if you don’t pay off your credit card balances each month? What does a credit card purchase cost if you just make the minimum payments? Read the full article
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