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Thinking about an encore career
Chris Farrell Mar 14, 2012
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
A bleak snapshot of America's retirement future
Chris Farrell Mar 13, 2012
Americans share little confidence in their ability to afford a comfortable retirement. The 22nd Retirement Confidence Survey by the Employee Benefits Research Institute is stagnant at historically low levels.
What to do if your credit history is 'thin'
Jeff Tyler Mar 9, 2012
Living debt-free is a good thing, right? Those with little or no credit history are finding out you really can be "too thin."
Chasing your debt
Bob Moon Mar 9, 2012
More and more, people with outstanding debts are finding themselves in the crosshairs of swarms of collections agencies.
Student loans could be the next economic 'debt bomb'
Amy Scott Mar 9, 2012
Total outstanding student loan debt is expected to surpass a trillion dollars in 2012. So what does that mean for education and the economy?
Where to start
Chris Farrell Mar 7, 2012
My son, who is in his mid 30s and is married with two children, has almost no reportable income. He manages an apartment complex in Los Angeles, for which he receives something like $500/month and the use of a three-bedroom apartment. He also picks up web development jobs that are usually transacted in cash. His wife has her beautician's license and provides services out of the apartment for cash or barter. I worry that they wouldn't be able to rent another apartment if they wanted or had to move from their present apartment. Do you have any suggestions on how he might begin to work on his credit rating, given his current situation? Craig, Fairbanks, AK
Household investment is up
Chris Farrell Mar 8, 2012
Consumer borrowing is on the rise. Here's the thing: Credit card borrowing is down. Student loans and auto loans -- investment debt -- is up.
No degree, but debt
Chris Farrell Feb 27, 2012
College dropouts don’t get the job, earnings and career benefits of postsecondary education, but they do get a student loan repayment book.
An inheritance and plenty of uncertainty
Chris Farrell Feb 27, 2012
I will receive $25,000 in the next couple weeks from the sale of my mom's house. She died suddenly of a brain aneurysm last spring, at age 58. I am asking for advice on how to invest this small windfall. (I also received another $10,000 from her life insurance last year and used that to pay down a personal bank loan of $6k and credit card debt.)
Here are my stats: I'm 36 and went back to college in 2010 to finish my first degree (I had worked in insurance and kept hitting income/advancement ceilings due to not having a degree.) As of May, I will graduate with $45,000 of loans. I have $7,000 in credit card debt and own a house with a $130,000 left on the mortgage. I do have $10,000 in a 401k at a previous employer and I also inherited her 2009 car, so I have no car payment.
I realize paying down debt is the fastest return on the money, but I feel like I don't want to just sink this money entirely into student loans, which have a low interest rate. My plan is to pay off the credit card debt and create a small emergency fund. This will leave around $15,000. Would it work to place some of it in longer term investments or just completely add the money to my debt?
To add complication to the situation. I am studying graphic design and the firms I am in touch with all say they have increased hiring and the future looks good for this career. However, there is the option that I may want to free-lance or split off on my own in two to four years and could use a cushion to help as a startup. Thank you for any advice or information. Jamie, Eden Prairie, MN
Introducing the Wealth & Poverty beat
Mitchell Hartman Feb 24, 2012
Reporter Mitchell Hartman discusses the need for Marketplace's new Wealth & Poverty desk.
