Chris Farrell
Columnist | Your Money
E-mail: cfarrell@mpr.org
Chris Farrell is economics editor for American Public Media's weekly "Marketplace Money" show. Send questions to cfarrell@mpr.org and put "Your Money" in the subject line.
Recent content from Chris Farrell
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Covering rules on required minimum distributions
QI have read in Kiplinger's February magazine (page 68), "If you're still on the job at age 70 1/2, you can generally skip the required minimum distribution (RMD) from your employer plan until you retire." I would like to know if this is absolutely true as I am still on the job full time and just over that age.
Feb 7, 2010 -
Tax rule allowing early withdrawal of IRA money can be risky
Q I will be retiring at age 57. I am considering my options, one of which is a monthly withdrawal from my IRA, roughly in the 4 percent annual range, under Rule 72T for five years to get me to Social Security. As I understand it, this would be allowed without penalty. At the end of the five years, can I discontinue the payments and or readjust without penalty?
Jan 30, 2010 -
Chris Farrell: Payoff from home veggie garden isn't just monetary
Q My wife and I are near retirement. We live on an average-size city lot in St. Paul. How much money might we save in groceries if we use the back yard for a vegetable garden?
Jan 24, 2010 -
Savings bond differences are tied to interest calculation
QCould you please explain the difference between EE bonds and I bonds? Which is the better investment at this time?
Jan 16, 2010 -
Stocks? Fooey! She wants CDs with high rates
QLike many conservative investors, I long for the days when CD rates were higher than 1 percent or less, when the government wasn't trying to manipulate me into the all too risky stock market which demonstrated in the last decade that it is not to be trusted as a secure repository for retirement savings. The "free market economy" serves those at the upper income levels, not those of us who want to live without spending precious time on keeping track and understanding basic concepts of the abyss of the investment world. It just does not interest me, and the past two years have shown how unreliable, indeed destructive, risk can be. My question is, is there a movement to promote a return to CDs offering higher interest rates?
Jan 10, 2010 -
Resolved: Use incentives to whip your budget into shape
It's easy to dismiss New Year's resolutions. After all, how many gym memberships have you bought in a sudden burst of enthusiasm only to stop going after a couple of weeks? The same rhythm of enthusiasm and disillusionment holds with household budgets.
Jan 2, 2010 -
Chris Farrell: Few more days to (thoughtfully) seek 2009 income tax deductions
2009 is almost over. That means there are only a few more days to consider any last-minute moves to save on federal income taxes for this year.
Dec 26, 2009 -
Well-informed giving should be part of any sound financial plan
Americans pull together to share their concerns and passions, especially when it comes to improving our communities and society. We give money and time to support the arts, contribute to schools, build affordable housing and tackle social problems. We do this through all kinds of charities, nonprofit organizations and religious institutions ranging from small groups of volunteers to multibillion-dollar enterprises.
Dec 19, 2009 -
Pros, cons of converting your IRA to a Roth account
Last week's article focusing on Roth IRA conversions for low- and middle-income folks sparked an unusual number of reader responses (which was fun). The flurry reflects the growing excitement over conversion in 2010. But the e-mails also emphasized the complexity of the issue. So I've decided to recap the basics of conversion with some help from readers.
Dec 12, 2009 -
Convert to a Roth IRA in 2010? It may be the wrong move for you
It drives me crazy that the folks in Congress are always making speeches that Americans need to save more for their retirement. But then they leave in place pension laws with far too many twists and turns while passing new ones that seem ever more complicated.
Dec 5, 2009
