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401k matching

Dec 8, 2005
Personal finance expert Chris Farrell tells host Scott Jagow that company 401k matching plans don't do much to encourage employees to invest in their retirement.
cfarrellecon picture

Question: help

Submitted by cfarrellecon | Nov 07,2011
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Question: Should I walk away from my under-water mortgage?

Submitted by Registered user | Sep 28,2011

I bought my house in 2003 for $190,000. I made some improvements when the economy was booming and now ow $220,000 with my home equity loan. However, eight years later, my house is now only worth $170,000. What should i do. Can I walk away?

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Question: Pay off mortgage -- or wait

Submitted by cfarrellecon | Nov 14,2011

Question: I owe on $5500 left on my mortgage and could easily pay off the whole thing right now. However, I wondered what the tax consequences would be of paying off the mortgage now in 2011 or paying as it comes due, in Dec., Jan. and Feb?

Are there penalties, or is it such a small amount I might as well pay it? I don't understand the capital gains part of the taxes: is it better to pay off a house in Dec for the 2011 tax year, or in 2012 for that tax year? I know people who get married or have babies with year end tax implications in mind. Elizabeth, Indianapolis, IN

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Question: To LLC or not to LLC

Submitted by PegBecks | Nov 15,2011

Recently my husband & I were told by our lawyer that the rental property we own should be under an LLC. We have owned this property for almost ten years and it has been in the names of our two children and ourselves, four people total, for the entire time. We want to make sure this property goes directly to the kids at our passing. The building, our property is a condo, carries insurance, we carry insurance on the condo itself. A few years ago I refinanced our house and paid off the mortgage loan on the condo. The re-fi consolidated two loans and lowered my interest rate considerably. I also make extra payments on the principal as often as possible. I understood why we would not just put the property into their names right now - a big ouch on taxes due for them - but we were confused about the need for an LLC. Thank you so much. picture

Question: Any advice on long-term care insurance?

Submitted by | Apr 07,2012

My husband and I, ages 62 and 60, respectively, were not able to afford Long-Term Care (LTC) insurance previously. We also did not like that such insurance was a use-it or lose-it proposition. We understand that LTC insurance is now in the state of flux, with several companies no longer offering individual policies. We recently came into an inheritance and have done some research on the newer LTC concepts, one as a rider to life insurance and another tied to an annuity. They interest us because there is a single premium when you take out the life insurance/annuity, so we could put part of our inheritance toward that single premium. We also like the idea that if we never need long-term care, the proceeds go to beneficiaries. Because theses products are new to the industry, there is little information on their track records.

Could you offer any advice? Would you please consider doing a segment on this topic? Like other listeners, we are trying to be smart with our money and investments.



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