Chris Farrell is economics editor of Marketplace Money, a nationally syndicated one-hour weekly personal finance show produced by American Public Media. Chris is also economics correspondent for Marketplace, the largest business program in broadcasting and chief economics correspondent for American RadioWorks, the largest producer of long-form documentaries in public radio. He is also contributing economics editor at Business Week magazine. He was host and executive editor of public television’s Right on the Money. He is the author of two books: Right on the Money: Taking Control of Your Personal Finances, and Deflation: What Happens When Prices Fall. Chris is a graduate of Stanford and the London School of Economics.
Posted In: corporate profits, stocks, Investing, Economics
"What goes up must come down" was true with dot-com stocks and the residential housing market. Investors should understand that the same fate lies ahead for corporate profits, argues James Montier of the investment management firm GMO.
Posted In: Savings, credit, credit score, borrowing
I am 32 years old and would consider myself financially illiterate! I briefly held a credit card, but after a series of rather poor decisions at the age of 20, I got spooked by the idea of credit altogether. When I last checked my score several years ago, it was not surprisingly in the toilet. In deciding to try and repair my finances, I checked my score today and found that it was (surprise!) 775! So after years of neglect, illiteracy and general incompetence, how do I maintain this incredible turn? Desperately in need of some sound, simple advice! Ryan, Cincinnati, OH
Posted In: Roth-IRA, IRA, Savings, CD, student loans
Should I consider a CD as a worthwhile investment? I am 26, work for a neat nonprofit, paid off my car in 1 year and plan to be paying student loans for 20 years. I have about $5,200 invested in stocks and mutual funds (most of which is split between a Roth and a traditional IRA). I have another $1,000 I'd like to invest. Should I continue with IRA contributions and modest stock purchases or consider something like a CD? The thing is, my online savings account APY is higher than the CD rate. I guess a third option is paying down an additional $1,000 on my student loans. What should I do? Thanks! Michael, Salisbury, MD
Posted In: personal finance books, Investing, asset allocation, diversification, 401(k)s
Having had three job changes, my investments are in three locations, with a fourth about to start. I have a Roth and two 401(k)s. Is it a benefit to combine all investments into one account? I need to educate myself on my money. Most that I have invested is in aggressive funds. I am 47 and getting older each day!! Jeff, Tulsa, OK
Posted In: Savings, Roth-IRA, student loans, college, job
I'm a 20-year-old college student studying computer science. I recently accepted a paid internship offer at an investment bank for the summer. After taxes, I will make around $10,000. How should I spend, invest or save this money to best prepare myself for life after college? Zach, Binghamton, NY
Posted In: Financial planner, CFP, Entrepreneurship, entrepreneurship female women business startup venture angel capital employment
I am a mother of five, wife to one and hold a job as a sales and marketing executive. At this time, I see it necessary to switch to a position that allows me to work more from home, without too much travel, and to build a business that I can grow into my golden years. I have started taking classes to become a Certified Financial Planner. I really want to do this, but I'm concerned my vision for being a CFP might not be viable. I would like to be fee-only and help middle-income people make sound decisions for their financial future. I have spoken with another CFP, and he has told me the focus for the industry is on high-net-worth people, which is not a path that I wish to pursue. Any advice or thoughts is most appreciated. Sarah, Rock Hall, MD
Posted In: encore career, second career, Graduate school, Work, debt
Currently, I am thinking about going back to school for a graduate degree to change my career entirely. It would be hard to do this while working full-time. I think that if I stick out this job for another 15 years, I should be OK to retire. (It's just me -- no husband or kids -- and I owe about $80,000 on my house.) I would LOVE to quit and go back to school (maybe with a loan?) for an "encore" career. It's amazing how much more expensive school is now. It's crazy. I know that I will be able to find a position once I have the degree. It may not be earning as much as I do now, but that's OK. Is this even something I should entertain? Jackie, Columbus, GA