your money
Chris Farrell
Columnist | Your Money
Phone:
Email: cfarrell@mpr.org
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.
Using Roth cash may be best way out
One big advantage of the Roth is that in a pinch you can withdraw your contributions without paying a penalty...
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Chris Farrell: Despite risks, municipal bonds gaining more buyers
As the recession gets worse, the once-staid muni bond market is now perceived as high-risk.
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Chris Farrell: Things to consider if your employer has filed bankruptcy
Q My company just filed Chapter 11. Is there anything I should do to reorganize my personal finances while the company reorganizes in bankruptcy court?
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Chris Farrell: Now she can get rid of debt, add to savings or invest
Q I am a 24-year old graduate student living in Minneapolis. I have very little take-home pay as a result of my tuition deduction (about $11,000 for the academic year). But I have secured a job for the summer that will provide me with about $7,000 between May and August. What you think I should do with this extra income?
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Chris Farrell: Conversion to Roth IRA requires calculation to determine benefit
Q My husband and I have managed to put away retirement money. Luckily, I took it out of the stock market before losing much. Our home is paid for and we have no loans. He is 52 years old and I'm 50. He is self-employed (a cabinet shop owner) and I have a job paying $30,000 a year (gross). He has been building his business for the past 15 years. We have other savings in certificates of deposit at a local credit union.
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Regular investing, diversification still the best bets
The despair that marks financial catastrophes often sets the stage for better returns later.
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Chris Farrell: Green investments don't always produce greenbacks
The alternative energy sector is intriguing, especially as it gets more attention. That said, the sector hasn't done well lately mainly because of the steep drop in energy prices. It's a volatile part of the market, and fees are high.
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Chris Farrell: Does borrowing for a new car makes good economic sense?
Here's one case for yes: By borrowing -- using Other People's Money -- you maintain your financial flexibility. Your pot of emergency savings remains full, and you can continue to add to it.
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Chris Farrell: There's no escaping the trade-off between risk and return
Q I am 60 and would like to retire in two years. I am self-employed and have 98 percent of my retirement money in fixed investments. About half is in a Treasury money market fund and a CD with Vanguard. The other half is in a qualified plan from my former employer. I would like to put most of my retirement savings into some investment that will yield a guaranteed 5 to 6 percent. Are there any safe, risk-free, no-fee, reliable places to earn that kind of return?
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Chris Farrell: Fed plan gives a stimulus to refinancing or buying a home
The Federal Reserve made news Wednesday when it agreed to commit more than $1 trillion to buy more Treasury notes and expand home mortgage programs. How does that affect the average homeowner who wants to refinance or buy a new house?
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