Getting Personal

Getting Personal

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Chris Farrell is the economics editor of Marketplace Money.
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I have about 8 credit cards. I close unused credit cards( 2 to 3) per years and open 2 to 3 per year as needed. I would like to impact on credit score on closing credit card ( unused) and opening new ones ( 2 to 3) based on the deals.

On the recent Getting Personal a listener was concerned about the safety of his IRA if it is invested all in one investment firm. I am retired and have the same concern and I am not sure that the question has been totally answered. Nearly all my retirement savings are in two diversified funds with Vanguard (Life Strategy Moderate Growth and Target Retirement 2005)but I am not clear whether there is a danger in having all my investments with one respected firm. Does diversification also mean that one should use more than one investment firm? Could a major investment firm somehow go under and lose all our money?

We are about to close on the sale of our house and will have a 3-6 month period before we we spend the proceeds on a new home. We will have around $900K to look after and were planning to put it into E-Trade in 9x $100K accounts. Do I need to put it into 9 different banks to be safe? What do you suggest?

I worked for a large corporate business for 16 years. I was fired unfairly and not given any type of package. Some managers I've spoken to said that I was entitled to some money and at that time a lawsuit. other than the lawsuit how can i claim my entitlements and be sure my pension plan wont be taken from me by this company.

Fidelity Investments tells me not to worry about my retirement accounts...they are covered by SPIC and a self insured program. what are those?> Rick Land

One of your contributors (from Arizona) said there's no money coming into the US in this banking debacle.
why is that and when will it turn around, or what will happen if it doesn't turn around.

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