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A sad personal finance end to 2011
Chris Farrell Dec 27, 2011
The U.S. Treasury unveiled today its online 76-year timeline for U.S. savings bonds. It's a fun look at an historic program. U.S. savings bonds rank among the great brand names in American finance.
Advice for conservative investors
Chris Farrell Dec 23, 2011
We have saved some money for a house deposit in 2-3 years. We have a 3.99% mortgage on our current place. Should we invest our down payment for our next house or should we pay off our current mortgage? We are both conservative investors. Tom, Boston, MA
Life insurance and savings
Chris Farrell Dec 19, 2011
I went to a financial advisor in hopes someone else could do more with my money. He suggested that I take full advantage of my employer's 401(k) when I am eligible (next year), but since I have been a good saver and expect an increase in income, I should consider using life insurance as a vehicle for tax-free retirement savings. I have mixed feelings about this. Christina, Atlanta, GA
When to get aggressive with the mortgage paydown
Chris Farrell Dec 15, 2011
My question is, if your mortgage rate is higher than what you could expect from investing, wouldn't it make more sense to pay on the mortgage? This is almost the same as the concept of paying off the credit card with the highest rate first. What are your thoughts on this? John, Rapid City, SD
Good reads
Chris Farrell Dec 12, 2011
Here are some recent stories on a variety of personal finance subjects.
Estate planning 101 for young families
Chris Farrell Dec 7, 2011
I have a niece and nephew in their early 20s who have both recently started their own families. I know they do not have a will, advanced directive or a living trust because they are intimidated by the idea and cost of hiring an attorney to draw up the paperwork. Instead of a gift card this year, I would love to help make sure their assets and children are protected. Is there an easy/affordable product or site online I can use to help get them situated? Jeff, Cincinnati, OH
Focusing on debt, but which one
Chris Farrell Dec 6, 2011
My husband and I have extra money each month, a healthy emergency savings account, and we save for retirement through our work plans. (I should point out we are in our 20s.) We recently bought a home and now have a mortgage of $130,000 at 4 percent interest. We also have approximately $80,000 in student loan debt for our graduate degrees at 6.8 percent interest. With our extra spending money each month, should we tackle the student loan debt first? Pay down the mortgage? Both? Or some other option? Carolyn, Duluth, MN
Working toward financial flexibility
Chris Farrell Nov 22, 2011
I max out contributions to my workplace 401K and a traditional IRA (I no longer qualify for a Roth). Should I be doing more to save for retirement? Are there other retirement vehicles available to me or should I continue investing in non-retirement accounts (e.g., direct purchase of mutual funds and/or stocks through my brokerage account)? Sandra, Silver Spring, MD
Stick with low risk
Chris Farrell Nov 21, 2011
Our primary aim is to have a deposit for a house in 3 years. We have saved a reasonable sum of money but did not want it to linger in a current or savings account for 0.75%. We are deciding either investing at low risk or paying off mortgage. We have to sell our current house to buy a new house. My mortgage rate is 4.99%, so after tax rebate it is about 3.99%. Most investing opportunities are giving us about 2% at low risk and 3-5% at medium risk. After tax one would have to take another 1.25% off the return. We would like some advice. Thanks, Tom and Anne, Boston, MA
