To fight inflation, reduce food expenses
Like many shoppers, I’ve noticed my grocery bill getting bigger each week: Last month, food prices were almost 8% higher than they were a year ago, according to the U.S. Department of Agriculture’s Economic Research Service. (I had also been turning to shortcuts like prepackaged snacks and meal kits, which further added to our total bill.) To counteract these pressures, I applied all ... READ MORE
Apps address end-of-life planning issues
Before the pandemic, entrepreneurs Liz Eddy and Alyssa Ruderman had trouble getting venture capitalists to invest in their end-of-life planning app, called Lantern. Potential business partners were skeptical as well. “We would hear, ‘Oh, this is really a niche issue,’ which I think is pretty hilarious,” Eddy said. “Death is quite literally the only thing on the planet that... READ MORE
Guaranteeing income in uncertain times
I have discussed single-premium immediate annuities, or SPIAs, in previous columns. They have features that are very important because of the uncertainty in the stock and bond markets, and because some politicians would like to reduce future Social Security benefits. When stock markets were bullish for several years, some investors expected equity prices to always go up. Because of the... READ MORE
How are gas prices set?
As gasoline prices keep climbing, many frustrated drivers might be asking, “Who controls gas prices?” The short answer is: No one person, company or government can really be said to set gas prices. But it is possible to break down some of the major factors that go into determining the cost of a gallon of gas. Let’s take a look. Crude oil The Department of Energy has a handy... READ MORE
What are the safest places to invest now?
Many who have invested in various forms of bond funds have been disappointed to see that, despite receiving regular interest payments, the value of their investment has decreased significantly in 2022. I have received quite a bit of mail from readers asking whether they should bail out of bond funds and instead make new investments in money-market funds, CDs or I bonds. Here are some... READ MORE
Many different types of financial advisers
Registered adviser, fiduciary, independent adviser, investment adviser representative, RIA, licensed, designated, unbiased — what do all these terms mean? As an investor seeking an adviser, it can certainly be confounding. The many different types of licenses, designations, financial industry jargon and affiliation options are a lot for anyone to digest. Twenty-two years of helping... READ MORE
Times when you need an expert’s advice
You can now manage most aspects of your money without ever consulting another human being. You can budget, borrow, save, invest, buy insurance, prepare your tax return and create a will — among many other tasks — by using apps, websites and software. But technology still has limitations, especially when you’re facing a money situation that’s complex or involves judgment... READ MORE
More retirees among America’s homeless
Karla Finocchio’s slide into homelessness began when she split with her partner of 18 years and temporarily moved in with a cousin. The 55-year-old planned to use her $800-a-month disability check to get an apartment after back surgery. But she soon was sleeping in her old pickup, protected by her German Shepherd mix Scrappy, unable to afford housing in Phoenix, where median monthly... READ MORE
Why to invest in crypto despite its risks
As cryptocurrencies have become more mainstream, average investors have wondered whether and how to use them safely and effectively in their portfolios. I recommend Ric Edelman’s book The Truth About Crypto: A Practical, Easy-to-Understand Guide to Bitcoin, Blockchain, NFTs and Other Digital Assets. This book, which will be available in May in both paperback and Kindle editions, covers ... READ MORE
Do you qualify for free financial planning?
In a recent issue of InvestmentNews, there was an advertisement placed by the Foundation for Financial Planning (FFP). The ad was a solicitation for tax-deductible gifts and for financial planner volunteers. The ad also indicated that FFP has helped over 500,000 people in crisis who needed access to free financial planning. I wanted to find out more about this service because I believe... READ MORE
