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What Should You Do If Your Employer Suspends Your 401(k) Match?

Business / Ask Carrie /

Dear Carrie: My employer recently stopped offering a 401(k) match. I've always tried to contribute enough to get the entire match, but now I am in a bit of a cash crunch and wonder if it makes sense to keep contributing. Is it still worth it? -- A Reader

Dear Reader: You've probably heard me say many times that specific financial advice depends...Read more

Americans Want Financial Literacy ... Now!

Business / Ask Carrie /

Dear Readers: Today, I'd like to turn the tables and ask you a question: Let's say you could design a basic high school curriculum. Outside of core courses like science, math and English, how would you rank adding financial literacy as a requirement, compared with other topics such as health and wellness, career development, college ...Read more

Is Your Mother, Sister, Daughter Investing? Are You?

Business / Ask Carrie /

Dear Readers: Women's Equality Day is celebrated on Aug. 26, and this year, it had a special meaning. It marked the 100th anniversary of the ratification of the 19th Amendment, which gave women in the U.S. the right to vote. This important achievement opened the door to other opportunities, and we're now outpacing men in college and advanced ...Read more

How Do You Recognize Financial Abuse?

Business / Ask Carrie /

Dear Carrie: I'm concerned that my son is in a financially abusive relationship. Because his fiancee claims to be better with money, she manages all their finances, including his salary, and controls their accounts. As a result, he's totally reliant on her for anything he wants, even spending money. I don't see this as healthy. I worry that she'...Read more

Are You Planning a Post-Pandemic Wedding?

Business / Ask Carrie /

Dear Carrie: My fiance and I were just starting to plan our wedding when the COVID-19 pandemic hit. Originally, we thought we would have a no-expense-spared, blowout wedding and reception sometime next year. We've managed to save up a pretty penny, but given everything that has happened, we're wondering if we shouldn't cut back. We're also ...Read more

Do Asset Allocation and Diversification Still Work?

Business / Ask Carrie /

Dear Readers: Here we go again. In early March, the COVID-19 pandemic brought the 11-year bull market to a crashing halt. Since that time, the markets have largely recovered but been plagued with extreme volatility, leaving individual investors frightened and confused. While every investor knows that risk comes with the territory, the recent ...Read more

Focusing on a Tax Refund? Do Some Tax Planning Instead

Business / Ask Carrie /

Dear Carrie: When I did my taxes this year, I wound up owing a lot to the IRS. A friend at work mentioned they got a huge tax refund. How can I get a refund next year? -- A Reader

Dear Reader: The end of tax season always brings a host of questions from readers. Mostly they boil down to "How can I pay less in taxes?" or "How can I get a bigger ...Read more

How Do You Rate Your Financial Know-How?

Business / Ask Carrie /

Dear Readers: If I asked you to rate your financial know-how on a scale of 1-7 (with 7 being the highest), where would you place yourself? If you're like the Americans who participated in the 2018 FINRA National Financial Capability Study (NFCS), you'd probably give yourself a pretty high score. In that study, 76% of respondents placed ...Read more

How Does the SECURE Act Impact Saving After Age 70?

Business / Ask Carrie /

Dear Carrie: I turn 70 this year and am working part time. I don't necessarily need the income, but I like my work, and it gives me money to spend on a few "extras." I have a few dollars left over each month and recently read that I can still contribute to an IRA. I'm wondering if this is a good idea. -- A Reader

Dear Reader: According to a ...Read more

Is Market Volatility Keeping You on the Sidelines? Consider Dollar-Cost Averaging

Business / Ask Carrie /

Dear Carrie: I have money sitting in a low-interest savings account that I've been planning to invest, but I keep procrastinating. Should I take the plunge now or wait to see if the market falls more? I understand the concept of buying low, but it makes me nervous to invest so much now if the market will go down more. -- A Reader

Dear Reader: ...Read more

Laid off and Worried About Money: What to Do Next?

Business / Ask Carrie /

Dear Carrie: I'm a single parent with two middle school-aged kids and was just laid off because COVID-19 regulations forced my employer to shut down. I'm worried I may be out of work for a while. I received a small severance and have a 401(k), but that's about it. What's the best way to get through the next few months? Can I draw money from my ...Read more

Protecting Your Family With Life Insurance

Business / Ask Carrie /

Dear Carrie: My partner and I recently had our first child and are trying to get our finances in order. We met with an attorney to put together a will, and she mentioned that we might need life insurance. I do have a policy through work, but now that I'm a new dad, I don't know if it's enough. Can you advise me on how much I need and the best ...Read more

 

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