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Why I wouldn't tap retirement savings to retire student loans
Chris Farrell May 30, 2012
I returned to graduate school and accrued about $45,000 in federal student loans. The interest rate on these 10-year loans is 6 percent, with repayment beginning in 2013. I also have a 401(k) worth about $100,000 (roughly $60,000 of my contributions and $40,000 of employer contributions). I realize that an early 401(k) withdrawal would result in a 10 percent early-withdrawal penalty and that any withdrawal would be considered taxable income. This would effectively reduce the amount the 401(k) would need to earn in order to be the better investment. Still, it can't be much less than 6 percent, can it? Is there anything about my assumptions that are wrong, or is there anything I am overlooking? Derek, Chicago, IL
U.S. Treasury yield hits 60 year low
Stacey Vanek Smith May 31, 2012
As investors cope with uncertainty in Europe, the interest on the 10-year Treasury note, the benchmark cost of U.S. debt, hit a record low of 1.6 percent.
Getting back to our old (good) credit score
Chris Farrell May 23, 2012
My husband and I gave our daughter $40,000 for a down payment on a condo. She defaulted on the loan and went into foreclosure. Consequently, our credit score has tanked. How can we get our old great credit back? Nobody cares that we were not the ones who defaulted. Please help. Cathy, Redmond, OR
Letters: Creating a paper trail
Paddy Hirsch May 14, 2012
Our weekly dive into the mail bag, and L.A. Times personal finance columnist David Lazarus helps a caller with a question about record-keeping.
Credit card companies compete for mobile wallet business
Eve Troeh May 10, 2012
Credit card companies already get a piece of the transaction when consumers use PayPal or Bango to make payments with mobile technology. But can they really compete in the new world of mobile payment?
Advice on getting a credit card
Chris Farrell Apr 24, 2012
My friend is 24 and a young mother. She has never had a credit card and she wants to build her credit. Her income is somewhat limited at the moment because she has a new baby and only works part-time, but she wants to be able to pay for small daily expenses with a card that she can pay off in full every month. She is not seeking a large credit line. Even $100 would be sufficient. Can you provide some advice on what kind of card and where to start for someone looking to build good credit? Should she try prepaid credit cards? Any advice would be most sincerely appreciated. Esmeralda, Marlborough, MA
Financial innovation and social lending
Chris Farrell Apr 16, 2012
Peer-to-peer lending, also called social lending, is bringing together online individual lenders and individual borrowers for a fee. They cut out banks and other mainstream lenders. The innovation appears to be working.
Letters: Taxes!
Tess Vigeland Apr 13, 2012
Host Tess Vigeland along with Sr. Producer Paddy Hirsch and tax expert Louis Barajas answer listener tax questions and emails.
Demystifying the national debt
Kai Ryssdal Apr 10, 2012
The U.S. national debt -- currently clocked at $15.6 trillion -- is a major issue that'll shape the election this fall. But where did it come from and what does it mean for individual Americans? A new book uncovers the numbers.
Credit card trends
Chris Farrell Apr 9, 2012
The credit card business is settling down, and no, the sky didn't fall following the Credit Card Act of 2009.
