Dear Carrie, I'm retiring soon with a pension that's outside of the Social Security system. I've also earned enough credits from earlier employment to qualify for Social Security benefits. I know my benefits will be reduced because of Windfall Elimination/Pension Offset reductions. Are there any strategies to minimize these reductions? Is ...Read more
Dear Carrie: For the past three years, my 29-year-old daughter has been working for a good company that offers a 401(k), but she still hasn't started to contribute. She says she can't afford it. How can I persuade her to get going? -- A Reader
Dear Reader: I wish I had enough space in this column to share with your daughter the myriad ...Read more
Dear Carrie: I am turning 30 and know that I need to get serious about saving. How much should I be setting aside? -- A Reader
Dear Reader: Thank you for this question. The future can seem so far away -- and the path to that future so unsure -- that it can be difficult to know exactly how much to save or even to find the motivation to get ...Read more
Dear Readers: It's tax time again, and I'm getting lots of questions, especially from young people facing tax bills for the first time. Understandably, they want to know how they can reduce their taxes. And I'm glad they're asking because, while it's easy to rely on tax software or have a professional do your taxes, I think it's important to ...Read more
Dear Parents of Teens: The pandemic has changed our everyday reality in so many ways -- financially, educationally and socially. Money may be tighter. Kids may be doing online school. And we're all spending a lot more time at home. But for all the changes in our lives, according to a recent Schwab survey, there's one thing that hasn't changed ...Read more
Dear Readers: Moms these days can fill a lot of roles -- from nutritionist to chauffeur to nurse to counselor. We're called on to be experts in everything from caring for physical wounds to healing broken hearts. On top of that, many of us hold down full-time jobs! Now I'm going to add one more responsibility to the list: financial coach.
Dear Carrie: I'm a single mom with a decent income, but I'm always living paycheck to paycheck. How can I break that cycle and start to save, not only for an emergency but also for my bigger goals like retirement and maybe even a home? -- A Reader
Dear Reader: Living paycheck to paycheck isn't uncommon these days. Recent studies suggest many ...Read more
Dear Readers: April Fools' Day can make for a good joke, but there are certain myths about money that, if not dispelled quickly, are no laughing matter. Misconceptions about credit and debt are right at the top of the list. Here are 10 common beliefs about credit that can lead to financial trouble. Don't fall for them!
Myth No. 1: A Credit ...Read more
Dear Readers: In the fast-paced financial world we live in, with its focus on trading trends, online platforms and market movements, it's easy to get lost in the weeds and lose sight of the grounding principles of managing money that are essential to long-term success. So with spring in the air and buds on the vine, I thought it would be fun to ...Read more
Dear Readers: In the last 15 years writing "Ask Carrie" columns, I've often written about why and how investing opens the door to financial freedom. In my mind, the advice -- and the opportunity -- should be available to everyone. Unfortunately, for too many Black Americans, that's not the case.
As a country, we've started to have some ...Read more