Strategies to stop being the family ATM
If you want someone to stop asking you for money, the worst thing you can do is say no and then give in after persistent pleading.Such “intermittent reinforcement” — granting a reward after an unpredictable number of requests — makes it more likely the person will ask for another handout than if you just said yes at the start, said Brad Klontz, a certified financial... READ MORE
Fiduciary rule means better money advice
In a Harris Poll conducted in March on behalf of Personal Capital, a digital wealth management firm, 46 percent of respondents said they believed all financial professionals are legally required to always act in their clients’ best interest. Another 31 percent were unsure whether this was the case.Imagine those individuals’ surprise (and maybe yours), in the coming weeks and... READ MORE
Find out if the Equifax hack stole your ID
By now you’ve probably heard that Equifax — which as one of the three major U.S. credit agencies collect loads of sensitive data on consumers — suffered a massive breach, potentially affecting 143 million Americans.In the ongoing saga of rampant data breaches, it’s a stomach-churning twist, and it’s especially galling given that, as one component of its... READ MORE
A way to pick up a few bucks
Barry Belle spent 30 years as a project manager for the Whiting-Turner Contracting Company. But when the 75-year-old Pikesville resident retired in 2014, he still wanted to work — just not as much. “I just wanted to get out of the house two or three days a week,” said Belle, who’s now a driver for the ride-booking services Uber and Lyft, in addition to having private... READ MORE
Whether to work part-time in retirement
Some people’s retirement dreams consist of having the time to do what they want, unencumbered by the demands of working. For others, staying in the workforce on a part-time basis, either out of necessity or by choice, is a core component of their retirement picture.Keeping a hand in the workforce is a growing trend, and for good reason: Part-time employment in retirement is a way to... READ MORE
How not to get ripped off for car repairs
It’s the moment every car owner dreads. The mechanic comes out of the garage to say your ride needs repairs costing hundreds of dollars.Then two big questions pop into your brain: Are the fixes really needed? Am I being overcharged?There might not be a way around getting the car fixed, but there are ways to stay in control of the situation. But it takes some work and planning both... READ MORE
Don’t fall victim to fraud after hurricanes
In the wake of Hurricanes Harvey and Irma, two things are certain: 1) Texans and Floridians will rebuild and repair, and 2) scammers will be lurking — ready to take advantage of victims, their circumstances and the people lending a hand to help. Preventing natural disaster relief scams is impossible. But informed citizens doing their research can avoid falling... READ MORE
FAQs about Medicare: Filling the gaps
Every day, my in-box is filled with questions from readers about the nuances of Medicare. The following frequently asked questions concerning signing up or changing your coverage will help you navigate the system and deal with tricky issues.Q: Why do I need Medigap insurance?A: Even with Medicare, you still have to pay deductibles and co-payments. Most people buy... READ MORE
How to track down your forgotten cash
If you’ve ever pulled a $20 bill out of the pocket of an old pair of pants or a mothballed winter overcoat, you know the pure joy of finding money you didn’t know you had.But many of us have much larger sums languishing in old bank accounts, forgotten insurance policies, uncashed paychecks, and other relics of our financial lives.When an account is inactive for a certain period... READ MORE
A good problem to have: saving too much
The most fundamental financial advice — to consistently save — is absolutely correct. What’s less obvious, yet equally correct, is that you can also save too much.Your financial plan should not only help you to live better in the long run. It should also help you live better today. The truth is, accumulating more in savings than you will need for retirement can be a... READ MORE