May 24, 2012
My wife and I have taught in Alabama public schools for the past 2 years and have made (forced) contributions to the state retirement system in that time frame. Together, we've got around $8,000 invested in the state retirement system. Realizing the limited income prospects for career teachers, we both applied and were accepted to a top 25 law school on full-tuition scholarship. My question to you is this: For my retirement account, I have the option of either a) taking a lump-sum payment of the $8,000, minus 20 percent in federal income tax, or b) rolling it over into a 401(k), IRA, or similar long-term savings plan. Should I take the money and run, or should I start building a retirement nest egg while I'm financing the rest of my life with borrowed money? Alex, Montgomery, AL
May 23, 2012
An underappreciated factor behind the recent gains in the housing market is higher rents.
May 18, 2012
My wife and I recently refinanced our home. We paid off the home equity line and the existing mortgage, and now our monthly payments are $500 less than they were previously. What should we do with these savings? Thank you. Jeff, Amherst, MA
May 17, 2012
Major banks forked over billions of dollars in a mortgage settlement. Some states are using that money to fix any kind of budget gap.
May 16, 2012
I just graduated from law school and found the perfect job for me. Unfortunately, it does not offer a 401(k). I have a number of old 401(k)s from previous jobs, including a few that have been rolled over into Roth IRAs. Because I was in school for 3 years, I haven't been adding to my retirement saving for that period, thinking I could "make it up." To top it all off, my husband and I now make in excess of the maximum for IRA contributions. How should I be saving for retirement at this point? Jane, Los Angeles, CA
May 16, 2012
Housing starts, as they're called, were up 2.6 percent last month, and compared with last April, home construction was up almost 30 percent.
May 24, 2012
Packed open houses, multiple offers, and higher prices. In (usually high-end) neighborhoods like Jamica Plain, the bidding wars still rage.
May 24, 2012
Alabama wasn't hit hard by the housing collapse, and prices are now rising. But it's still difficult to get a home loan there.
May 24, 2012
Like a lot of Western cities, Phoenix's housing market crumbled during the recession. But new home sales are up 35 percent from a year ago.
May 11, 2012
My husband and I just refinanced our house at a great rate (15-year fixed mortgage at 2.875 percent). Our house payment is low and we can afford to pay more each month. Would the best use of our money be to pay down the principal on this low-interest loan or put extra away for retirement or for our children's college fund? We have two young children and are in our late 20s/early 30s. Thanks for your help! Katie, Helena, MT
