Chris Farrell

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Chris Farrell

Columnist | Your Money

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Chris Farrell is economics editor for American Public Media's weekly "Marketplace Money" show and author of "The New Frugality." He answers reader questions on most Sundays. Send questions to cfarrell@mpr.org and put "Your Money" in the subject line.

Taxable accounts offer flexibility for long-term savers

QMy husband and I save approximately $2,500 a month of our combined income. We both also contribute to 401(k)s that are matched by our employers. Aside from a mortgage and a $40,000 student loan, we have no debt and a healthy emergency savings account. My question is, should we be paying off this student loan as quickly as possible? Or should we be investing half of our monthly savings in an index fund or something else?

Updated: May 08, 2010, - 09:12 PM

Creating a budget? Answers can be found in history

"Don't spend more than you earn" is an insight from the ages.

Updated: May 02, 2010, - 07:02 AM

When choosing a career, consult the experts

Q I was wondering if you could shed some light on money-related careers. I understand that there is a huge difference between accounting, financial planning and investment advising. I wonder if accounting would be too precise and somewhat boring for me, and I don't know if I'd like the sales aspect of financial planning. Do you know much about investment advising? I'm even considering going back to school for an economics/finance degree.

Updated: April 24, 2010, - 11:00 PM

Roths and 401(k)s have their place, but so do taxable accounts

Can a JTWROS mutual fund with American Funds started in 1986 be rolled over to a Roth IRA with no taxes due either to Minnesota or to the federal government?

Updated: April 17, 2010, - 09:25 PM

Should you pay off your mortgage early? Think it through first

There's no doubt that saying goodbye to mortgage payments is a wonderful moment. Yet I am wary of this financial strategy for most people.

Updated: April 10, 2010, - 08:50 PM

Chris Farrell: With student loans, flexibility trumps the interest rate

Q We have two daughters, 18 and 14, and are in our early 50s. Our eldest is heading off to college in Wisconsin this fall, and we're fortunate to be employed and relatively debt-free. With reciprocity, the cost of tuition, room, board, books and miscellany is estimated at $22,000 per year.

Updated: April 03, 2010, - 06:07 PM