Reader Question: I have about $100,000 in a 401K through my former employer and I’m thinking about taking either some or all of the money out. I would like to put it in some type of investment or CD that would allow me access to it fairly quickly and is fairly safe. I’m also concerned […]
Is the Collapse of the Dollar Eminent?
Identity Theft Action Plan
Print or cut out this article and file it under “Help! Someone Stole My Identity!” Our government recently notified more than four million government workers that China had hacked the Office of Personnel Management and stolen personal data. Hackers have breached the Pentagon; Home Depot, Target, Google, Apple, Yahoo, AT&T, eBay, J.P. Morgan Chase… too […]
Identity Theft Tool Kit
Identity theft is more than a hassle. It can take a monumental amount of time to straighten out; at least temporarily devastate your personal finances; and create extreme emotional stress. Your best defense is a good offense so my recommendation is for you to establish your own ‘first alert’ system by doing the following: Order […]
Unexpected Liability
Reader Question: In order to avoid probate and to make certain that my child gets my home; I’ve added his name to my deed. My question is about liability if he were to be involved in a lawsuit. Could my home be at risk? I also own a property that my son now rents from […]
Buying Land with Your IRA
Reader Question: My mother has both qualified and non-qualified annuities. Could she use some of this money to set up a self-directed IRA and purchase raw land with it? What would be the consequences if she just bought hunting land with it? Answer: I get a lot of people who want to use their IRA […]
Life Insurance Refresher – Part II
In last week’s column I reviewed a few basics regarding life insurance. I suggested level term life insurance as the best choice for the family bread winner with the emphasis on being sure that you have plenty of life insurance while keeping your monthly premiums low. Most people underestimate just how much life insurance is […]
Life Insurance Refresher Course – Part I
Life insurance is one of the most complicated of financial products for consumers. Should I buy a policy that builds cash value? Should I stick with term insurance? Should I buy insurance on my spouse? How about my children? What follows is an excerpt from my (co-authored) recently published book, “J.K. Lasser’s New Rules for […]
4 Tips for Saving for Retirement
Recent research suggests that a full one-third of working Americans have no retirement savings. Another third have saved under $50,000. Thirty percent had saved more but fall far short of being on track to fully funding retirement based on their current lifestyle. Only about 4% were on (or above) track to accumulate enough wealth to […]
Avoiding Probate – Part II The Living Trust
In last week’s column, I answered a reader’s question about how he could avoid probate. The key, I stated, was to make a list of every asset you own and then make sure each asset would transfer by either title or beneficiary designation. For example, if you owned a piece of real estate in your […]
How to Avoid Probate
Reader Question: How can I avoid probate at death? Answer: Probate is a court administered process whereby at death, the court oversees the transfer of your probate property from your name to the persons or organizations designated in your will. If you die without a will, your probate property is transferred according to state law. […]