Tax reduction via opportunity zone funds
It’s tough to think of a highly appreciated asset as the problem child in a portfolio. The goal is to choose investments that will flourish, after all. And those strong performers are typically the ones you love best and hold onto the longest. But things can get complicated when it’s time to let go — when that stock stops growing and you’re ready to sell, or when you’re... READ MORE
Questions to ask before investing money
Many people who ask me about investments or setting up an appointment often preface it by saying, “I’m sorry, this is probably a stupid question, but…” Most people are afraid to ask questions about their investments for fear of sounding ignorant or admitting in some way that they don’t have all of their “stuff together.” But there truly are no stupid questions when it... READ MORE
New law changes RMD and IRA rules
With the decline of traditional pensions, most of us are now responsible for squirrelling away money for our own retirement. In today’s do-it-yourself retirement savings world, we rely largely on 401(k) plans and IRAs. However, there are obviously flaws with the system because about one-fourth of working Americans have no retirement savings at all — including 13% of workers 60 and... READ MORE
Involve your spouse in financial decisions
When I taught courses in personal financial planning at the New School for Social Research in New York City for 18 years, most of my students were women. Periodically, I teach courses at local colleges and still find a large percentage of women in my courses. Many of them were widows who had not actively participated in basic personal financial decisions, such as investing and... READ MORE
Smart ways to choose a financial planner
Dear Savvy Senior, Can you recommend some tips on finding and choosing a good financial planner? My wife and I are both in our late 50s and would like to get some professional advice to help us better prepare for our retirement years. Seeking Advice Dear Seeking, With all the different financial planners, advisers and services available today, finding and choosing a trusted... READ MORE
When parents need your financial help
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Hardships with medical bills is common
More than half of seriously ill Medicare enrollees face financial hardships with medical bills, and prescription drug costs are the leading problem, according to a study published last month. The study in the journal Health Affairs comes as legislation to curb drug costs for seniors languishes in Congress and the growing financial exposure of patients with insurance is getting more... READ MORE
Could your tax bill explode in retirement?
Remember when you first started earning a decent salary, and it seemed as if everybody — your parents, your boss, the nice lady in Human Resources and, of course, your tax preparer — all told you to put as much money as you could into your employer’s 401(k) plan? Grab the employer match, they said. Get the growth that the market has to offer. And take advantage of the tax break,... READ MORE
How to give your portfolio a stress test
“You need to manage your stress.” How many times have you heard those words from your doctor or spouse — or maybe said them to yourself? The thing about stress is that the problems it causes often lurk beneath the surface. It’s easy to ignore the effects of stress until they lead to a major health problem — high blood pressure, headaches, stomach issues or even a heart attack.... READ MORE
Cars still more efficient than newer SUVs
Yes, your sport utility vehicle has gotten smaller and more fuel efficient over the years. But even with those gains, SUVs are still behind cars when it comes to gas mileage. The reason: SUVs are taller and heavier than cars, and no matter how sculpted their bodies are, they still run into more wind resistance. “It comes down to the laws of physics,” said Jake Fisher, director of... READ MORE
Money 2026
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