IRS no longer mails packages of tax forms
The start of tax season used to be heralded by the arrival of tax forms in the mail. Not any more.The Internal Revenue Service decided this year not to automatically mail them to individual and business taxpayers. “It’s a sign of the times,” said Terry Lemons, IRS senior spokesman. “More people are going electronic. We’re interested in saving taxpayers... READ MORE
Test your knowledge of common frauds
Con artists are very good at tricking consumers into parting with money or divulging personal information that can be used to steal funds or run up thousands of dollars in fraudulent credit card charges.How good are you at telling a scam from a legitimate offer or advertisement? Take the following quiz to see. Correct answers follow. 1. You agree to sell your valuable collection of... READ MORE
Now’s a good time to review your portfolio
Mutual funds have been put to the test.Over the last three years investors saw their balances nose-dive, then edge back toward prior heights. But few investors have fully recovered.On the bright side, all that drama should make it relatively easy to perform an annual portfolio checkup, to decide which funds to keep and which to cast out.How a fund performed through meltdown and recovery are ... READ MORE
Convertible securities offer smoother ride
If I were a betting man, I’d wager that 2011 turns out to be a better year for stocks than for bonds. With the extension of the Bush tax cuts and the clear resolve of the Federal Reserve to spur economic growth, I think that the stock market will do well for the remainder of this year — albeit with its customary stomach-churning dips.By the same token, economic growth,... READ MORE
Online checking accounts offer benefits
You may never have to wait in line at a bank again.Now that most routine transactions can be handled online or at ATMs, you may be weighing whether it’s worth making the leap to an exclusively online checking account.Besides the convenience of never having to go to the bank, these accounts typically bear interest or come with other perks. There are, of course, trade-offs to be wary of ... READ MORE
What fund ratings do and don’t tell you
As a mutual fund investor, you don’t want to pay “the stupid penalty.”That’s what Russel Kinnel calls the difference between the best and worst funds. It’s a penalty that he’s studied closely as director of mutual fund research at Morningstar.Consider Morningstar’s analysis of the best and worst large-cap mutual funds over a 10-year stretch ending... READ MORE
Retirees looking to become entrepreneurs
One of the Steve Jobs stories circulating in the wake of the legendary Apple founder’s death is the line he used to convince PepsiCo’s John Sculley to join Apple Computer: “Do you want to sell sugar water for the rest of your life, or come with me and change the world?”Jobs embodied the spirit of creative entrepreneurship — and the Apple story began when he was ... READ MORE
Some new funds and trends to consider
With nearly 8,000 mutual funds on the market, there are already plenty to choose from. Yet in a typical year a few hundred new offerings pop up.Don’t write off all these freshman funds. It’s likely a select group will prove their mettle through good markets and bad, including a handful of recent offerings from managers with strong track records.Yet too many try to tap into... READ MORE
Good buys in healthcare and drug stocks
Healthcare stocks are cheap. Enactment of healthcare reform last year has Wall Street fretting that industry profits will be depressed. But those fears are unwarranted.With the aging of the population not only in the U.S. but throughout the developed world, as well as advances in medical technology, people will continue to spend more on healthcare, not less. Paul Larson, editor of... READ MORE
Not a big talker? Cell phone plans for you
Dear Savvy Senior:What are the absolute cheapest cell phone plans available today? I’ve had a cell phone for nearly four years that I rarely use, but I like having it for emergency purposes. — Infrequent CallerDear Infrequent:For those who don’t use their cell phones very often but still want one for emergencies or occasional calls, there are a number of low-cost... READ MORE
