Recent content from Chris Farrell
Only a handful of expenses really count when it comes to the desire save more by spending money wisely.
Health concerns about loneliness don't seem like a classic personal finance topic. Yet thinking about how to avoid loneliness is critical to savvy retirement planning.
Socially responsible or sustainable money management has gone mainstream and will only grow in influence.
Putting money into a portfolio that matches the performance of an index like the S&P 500 is cheap, simple and savvy.
The age change won't affect many retirees since they typically start withdrawing well before their RMD date. They need the money to pay bills.
The desire to develop better habits revolve around a few core areas.
The legislation clears a path for employers to offer annuities as part of their retirement plans. Other than that, it's legislative tinkering.
The big advantage is that contributions can be withdrawn without tax consequences or early withdrawal penalty.
The message from a recent Senate report is clear from its title, "An Invisible Tsunami: 'Aging Alone' and Its Effect on Older Americans, Families, and Taxpayers."
The difficult question is how to stay focused on what matters when earning and managing our money.
We have different goals, values and talents. Yet we share the desire to know that what we are doing matters.
A recent report from the Federal Trade Commission highlights how vulnerable we are all are to con artists.
Some 64 million people — 20% of the U.S. population — lived in multigenerational households in 2016.
GE's shift in retirement plans is yet one more example of rising economic insecurity for the average worker and the typical household.
The calculated risks they took launching a publishing house and a bed-and-breakfast.
Q: In considering retirement and estate planning, it is likely I will have a choice between leaving my children funds mostly in conventional taxable investments,…
Q: I am retired. As I see it, there are at least two key factors when considering investing for retirement (including annuities): 1. How long…
My standard recommendation is to shift the savings into a rollover IRA. Control is a big reason.
A recent pitch I received to learn more about the annuity market included the line, “annuities are coming, whether you like them or not.” The…
You have time to prepare your finances for a downturn.
Sound money-management practices are critical since most students receive a loan-repayment schedule along with their diploma.
The 55- to 64-year-old age cohort accounted for more than a quarter of new business startups in 2017, according to the Kauffman Foundation.
Q: I am a 65-year-old female, retired. I have about $50,000 in investments. I am selling a house as part of a divorce. I can…
Q: My three teenage grandsons have the potential to come into some inheritances within the next few years. My financial adviser has said he would…
Risk management is more than the investment portfolio.
American workers have always had some kind of side hustle. Looking at data from JPMorgan on the gig economy (think Uber, Lyft and TaskRabbit), a…
The high-tech entrepreneurs at the recent Silicon Valley Boomer Venture Summit conference are developing products and services largely targeted at an elderly population and their…
The Securities and Exchange Commission recently approved its Regulation Best Interest standard for brokers. The best-interest standard replaces the stricter Obama-era fiduciary standard rule for…
Q: A few years ago, we had to move my dad to a memory-care facility. He had some investments, and, due to the cost of…
The cost consumers now pay for managing a credit freeze is nothing more than a minor inconvenience that is well worth the benefit.
The advice to pursue your dreams at work may be nice, but the borrowed money still has to be repaid.
John "Jack" Bogle followed his own advice.
If you are among those who haven't put together a basic estate plan, get it done in 2019. Your heirs and close circle of relatives and friends will thank you.
Q: I’m interested in gathering information to plan for moving from our home when we can’t take care of it. I am 68 and my…
Clearly, the standard financial advice is good. Problem is, the approach isn't realistic for many people.
Money management for young college graduates is mostly adopting a few good spending and savings habits.
That's the best way to free up cash that can be stashed away.
The school, work, retirement silos are coming down, and a more complex narrative is being scripted.
Tax refunds matter to household finances. That's the clear message from a recent study by the JPMorgan Chase & Co. Institute. The report draws on…
In the late 1980s, I was invited along with a handful of other young journalists covering personal finance to meet with Sir John Templeton, an…
Like so many laws attached to retirement savings plans, there are twists and traps for the unwary.
Q: I’m looking for book recommendations for teens about money management, investments, etc. My son is 14 and has a high interest in learning about…
Living on the financial edge is a way of life for many. Now add federal employees to the list.
Figuring out how to manage household income once you are no longer working isn't easy.
Take your time if the prospect of retirement is coming closer. Think long about what you want out of the last third of life.
Investors are worried about mounting evidence that the global economy is slowing down.
The end of the year and the beginning of the new year is a good time for thinking about what we did with our money…
It's the time of year when many taxpayers turn to funding their charitable giving before year-end. The tax code has allowed taxpayers who itemize to…
The Financial Independence, Retire Early movement is getting much attention in the personal finance world, but there are less extreme ways to live a life of purpose and sound finances.
Even when the housing market slows, buyers and sellers are always looking to make a deal.
Despite the best efforts of marketers, Thanksgiving is still focused on celebrating family, friends, neighborhood and community.
The housing market is changing for Americans living in their retirement years.The popular image of the typical retiree household is moving to an adult retirement…
A recent scholarly paper suggests too many workers are taking advantage of the option.
If my casual conversations are any indication, many near retirees are nervous about the increased volatility in the stock market. Should they sell? Stay the…
What is a better way to spend savings?
Complex financial products come with risks difficult to understand, and many charge high fees.
The experience of the past decade suggests much of the conventional wisdom about the value of a college education remains correct.
Of course, you know you should have a will. Then why do so many people procrastinate on getting a will?
No one knows when the next recession will hit or how bad the downturn will be when it arrives, so shore up your finances now.
What we can do as individuals is limited.
The importance of framing financial decisions was a theme at this month's 2018 Retirement Research Consortium meeting in Washington D.C.
Giving consistently also turns out to be key to managing household finances smartly over a lifetime.
Scams are a scourge, especially for older adults.
This is one of those personal-finance issues where the answer lies in the details that you will need to research.
The research is compelling: A dearth of social relationships is as strong a risk factor for poor quality of daily life.
There is no one right answer. The value in the exercise is it should help you find the path toward achieving your goals.
Older Americans often worry about outliving their savings in retirement. Yet several studies suggest the danger is exaggerated.
Most older adults no longer follow the path of abruptly going from full-time work to full-time retirement and living off their accumulated savings plus Social Security.
The economics behind the strong housing market are compelling.
They're a gift that will help establish a sound financial footing for the long haul.
Putting money into a Roth IRA is another good idea.
Sustainable investing has gone from the fringes of finance into the money mainstream.
No debt translates into more savings and mental relief.
The info you gathered to finish your taxes offers a 2017 baseline for reviewing your spending, your saving and your giving plans in 2018.
It's nothing but tactics to support the answers to questions over the years.