Recent content from Chris Farrell
Keeping personal finances simple can improve your well-being
Practical steps include automating the movement of money from checking into savings accounts, similar to automatic withdrawals from your earnings into retirement savings at work.
Biden's new income-driven repayment plan could be boon for those with student loans
SAVE (Saving on a Valuable Education) changes the definition of discretionary income to increase the number of low-income borrowers eligible for $0 payments and subsidizes any unpaid interest that remains after a borrower makes a payment.
These three simple reminders can help you avoid a scam
The Federal Trade Commission said people lost more than $10 billion to fraud in 2023, up from $3.5 billion in 2020.
Chris Farrell: Ageism shouldn't prevent retirement-age people from working
Whether and how to earn an income is critical to retirement planning, and for employers, older workers are a valuable asset to keep and to hire.
Farrell: Having traditional and Roth savings gives you tax-savvy options in retirement
If your income will be lower in retirement than when you were working, you'd favor traditional retirement savings. Roth is better for the reverse. Since you don't know, the advantage of having both is flexibility.
Chris Farrell: Be skeptical of new retirement-saving strategies
Many experts have published different ways to save through the years, but none seems to beat standard advice.
Chris Farrell: Warren Buffet's annual wisdom-sharing full of personal finance advice
Berkshire Hathaway is the seventh-largest U.S. company with a market capitalization of nearly $900 billion, but lessons from its founder are still relatable.
Chris Farrell: Productivity growth has led to our economic growth
Productivity growth is a key measure of economic prosperity, job creation, innovation and quality of life for individuals and society.
Chris Farrell: America's retirement system is failing too many people
The lack of savings doesn't reflect the lure of shopping on credit or a lack of financial education. Instead, too many workers live on low and unstable incomes, while too many moderate-income families struggle to pay their bills.
Chris Farrell: Index funds can help you reach your retirement goals
The so-called "passive" investment revolution is a smart way for individuals to invest for the long haul despite critics' arguments.
Beware of Bitcoin investing
Cryptocurrencies are speculations without any intrinsic value.
Make caregiving a financial priority
Few of us have sufficient resources to rely solely on savings for dealing with children or aging adults coping with mental and physical infirmities.
Finding your purpose for everyday living
The fundamentals of personal finance are especially important during major transitions.
There are benefits to working at an older age
Instead of thinking about retirement, try exploring what portfolio of activities comes next.
There is more to charitable giving than a tax break
When we give away money, we're actively showing what matters to us.
Farrell: When you retire, should you keep your money with your employer's 401(k) plan?
There are several factors to weigh, and current research on when it may be a good idea.
Farrell: The American housing market is broken
The need for more affordable-housing options is now part of a much larger conversation about economic development, economic growth and quality of life.
Caregivers need more social and financial support
Financial planning increasingly means taking the time to build into future scenarios the prospect of needing long-term care from family or close friends.
If you didn't save for retirement when young, is it too late?
You can't go back in time, but there's no reason for despair.
Cryptocurrency is too volatile for it to be a big part of your retirement plan
Boring is a virtue in retirement savings; the tried and true vehicles are used a lot for good reason.
Make sure you are spending enough in retirement
Many retirees who consistently saved over the years spend less than they might in retirement.
Staying the course isn't always easy
Why trading is hazardous to your wealth and managing risk is critical.
Chris Farrell: Employers can help increase financial understanding
Skills can be improved with education on the job.
Savers owe plenty to Nobel laureate Harry Markowitz
He encouraged investors to focus on diversification, while adjusting the mix of assets for risk.
Making sense of 'opportunity cost'
Economic concepts can help with financial decisions.
Farrell: How do you know if downsizing in retirement is right for you?
Many ambivalent thoughts, captured perfectly in Rob Kirby's "Marry Me a Little."
Farrell: There's a new way for low- and moderate-income workers to save for retirement
Word is still getting out about the new benefits of the saver's credit.
Chris Farrell: Forget the humbug over New Year's resolutions because they can pay off
Settle on a priority because time is a scarce commodity.
Farrell: Generosity is the best investment in community you can make
Whether you give time or money.
Chris Farrell: How to sort through the clamor of ESG investing
The holidays are a time when some investors comb through portfolios to make sure they align with their values.
Chris Farrell: Runs on crypto, no surprise there
While trillions of dollars of investors' money has disappeared in crypto, there still hasn't been a "Lehman moment."
Chris Farrell: Even after a volatile trading period, fees matter for most investors
Passive funds work best for many investors, helped by their low fees.
Chris Farrell: With credit card rates soaring, will logic or emotion help you reduce debt?
Star Trek's dueling approach to every challenge charts a path to financial salvation today.
Chris Farrell: As recession looks more likely, there are steps to prepare for the worst
The risk that counts is losing your job. Here's what to do just in case.
Chris Farrell: After the big raise in Social Security pay, it's time for proper funding
Policymakers need to remove the threat of insolvency for the foundation of America's retirement system.
Farrell: Cash may not be king, but it's not trash either
Cash is an easy and cheap way to protect an investment portfolio or a family against financial crisis.
The importance of researching options for Medicare open enrollment
Few people take advantage of the Medicare open enrollment season, which is quickly approaching, but researching your choices is well worth the time and effort.
Farrell: Rethinking work is fine as long as you consider the financial effects
Quiet quitters is the latest buzzword for people who are considering all their options.
Farrell: Build a retirement with several purposes
Retiring from a full-time job leaves a person with 2,500 hours to fill in a year.
Farrell: What to do with savings after your student debt is reduced
Lottery winners tend to save their windfall. So should the beneficiaries of student debt relief.
Farrell: With investment fees, small differences add up over time
It's one of the simplest ways for investors to boost returns.
Farrell: Rising costs of natural disasters hit retirees harder
The extra costs and added health and safety risks should be factored into retirement planning.
Farrell: To cope with inflation, go back to basics and learn to budget
A budget lets you seize control over financial chaos.
Turn garages into cottages, and other steps to fix Twin Cities' broken housing market
Chris Farrell says efforts to end the distorted Twin Cities housing market should account for the region's aging population.
Chris Farrell: Frugal people are always interesting, especially in a time like now
A frugal mindset calls for a greater focus on quality, not quantity.
Chris Farrell: Three risks that stand out in retirement planning
Too much debt, not enough income and a home that costs too much can be trouble for retirees.
Do retirement warnings go too far?
People are creative about solving problems when income changes. And while experts recommend saving over $1 million, retirement also represents a change in lifestyle.
Chris Farrell: A fundamental change in interest rates is taking hold
For four decades, bond yields have been falling. But the fight against inflation is changing all that.
Chris Farrell: Amid the gloomy news, an old friend can revive your soul
When things look bad, take a look around for underappreciated opportunities.
Chris Farrell: As crypto inches to the mainstream, caution remains the watchword
Use money you can afford to lose, not retirement funds, to invest in cryptocurrencies, our columnist suggests.
Chris Farrell: Building a legacy is an essential project
Thinking about legacy involves acting on practicalities such as writing wills and health care directives.
Farrell: For college graduates, it's a time to explore life and make smart money moves
Stretch out school loans for the moment, save what you can and build the habit of generosity.
Chris Farrell: Even in a tight job market, late-career job seekers need an extra hand
The pandemic made workers of all ages rethink their goals and priorities, author Kerry Hannon writes.
Chris Farrell: It's too early to use retirement savings to speculate in cryptocurrency
Fidelity's decision to let 401(k) savers put some of their investment in bitcoin is highly risky, our columnist says.
How much you spend in retirement may lessen with age
The 4% inflation-adjusted spending rule might be too conservative for near-retirees.
Farrell: With I-Bond rate adjustment due soon, another reason emerges to consider them
I-Bonds are a hedge against inflation and a popular option for savings in any diversified portfolio.
Farrell: Think you've waited too long to start saving for retirement? Here's what to do
Most people are in this boat, and there are plenty of ways to get ready for retirement.
Farrell: The nation could be returning to a habit from the 1970s
No, it's not lava lamps nor shag carpeting. It's saving money.
Chris Farrell: When the world turns chaotic, money management should be boring
The fundamentals of managing personal finances are especially useful in times of uncertainty.
Chris Farrell: What a Twin Cities retirement coach says makes the best life after work
Plan your finances and your time and avoid "organ recitals."
Chris Farrell: It's difficult for some, but holding off on Social Security pays off big
Every year you delay past your full retirement age, you gain an approximately 8% boost.
Unretirement remains a thing among the recently retired
But pandemic has pushed more retirees to the sidelines as they take health precautions.
Farrell: Why a rock star's ideas on money make sense for most of us
Courtney Love settled on a financial path that works for many people, our columnist writes.
Farrell: These books can put teens and young adults on the path to wealth
Here are seven books that will help people get started on their fortune at a young age.
