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Savings and a summer internship
Chris Farrell Mar 19, 2012
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
Helping out brother with money
Chris Farrell Mar 8, 2012
My problem is that my brother (in his late 20s) is super lazy and would never do any financial planning on his own. I've been trying to get him to open a Roth IRA for a while, but no chance. So now I'm thinking of starting one for him for his birthday and setting it up so a certain portion of his paycheck will transfer automatically. But there's no way he will ever be motivated/responsible enough to do his own investing. I'm not sure what strategy to follow because I don't want to do his investments for him. Is it worth hiring a professional? Do the major online trading sites (Etrade, Vanguard, ScottTrade, etc.) offer some kind of package where you just add some money and it is professionally invested for you? Any advice you have would be greatly appreciated!! Thank you! Laura, Chicago, IL
Malthus visits Wall Street
Chris Farrell Mar 7, 2012
I don't think investors should fear the march of time. The specter of a baby boomer-driven stock and bond market implosion seems implausible to me largely because of the move toward market economies around the world. By the time retiring boomers are selling in earnest, markets will be even more global than they are now. There are a lot of foreigners to buy U.S. assets.
Keep on saving
Chris Farrell Mar 5, 2012
The personal savings rate seems to have moved up to the 4 percent to 5 percent range, despite savers making 0.1 percent to 0.2 percent on their money. We're back to the range that held for much of the 1990s. Considering how harsh the last couple of years have been on so many people -- from young adults seeking their first full-time job to retirees watching their pension values slide -- it's doubtful that the savings habit will erode. Memories aren't that short.
Spend less, save more
Chris Farrell Mar 2, 2012
Tips for saving money without feeling (too much) pain.
What should we do with our money
Chris Farrell Mar 2, 2012
We now want to invest some of our emergency fund that we believe is a little inflated, due to fears of the economy. I've looked around at fee-only advisers, but they all state that you should have at least $100,000 to start investing; otherwise, they don't feel like you are qualified to work with. What should we do with our money? We have about $15,000-20,000 that we want to invest, but we want to do the right thing. Could your staff help with some options? Thank you, Joshua, Riverside, CA
Cutting savings to the bone
Mar 2, 2012
Marketplace's Wealth and Poverty reporters talked with people from all over the country, and many, regardless of their earning power, had very little in the way of savings.
Piggy for a personal finance paragon
Tess Vigeland Mar 2, 2012
Jacqueline Byers' salary is in the low $40,000 range, but she budgets, tracks her spending and saves up for what she really loves -- travel.
A personal finance lesson from Apple
Chris Farrell Mar 2, 2012
There is an important personal finance lesson in Apple's enormous cash hoard: Savings is an anchor that allows for experimentation, risk-taking and innovation in both companies and at home.
