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How to downsize your possessions

Business / Terry Savage /

No one wants your stuff! That’s the inescapable conclusion that aging baby boomers are facing as they plan to downsize by selling the family home. Suddenly the treasures of a lifetime have become an emotional and financial burden.

Boomers still have their grandparents’ china, silver, art and furnishings. But their Gen X, Y and Z children ...Read more

How to shop for pet insurance

Business / Terry Savage /

One happy consequence of the COVID-19 shelter-in-place orders last spring was that animal shelters were emptied by rescuers seeking companionship. Hopefully, it all worked out well for the pets and their new owners. But since this is a personal finance column, it’s also important to note the financial responsibility that comes with pet ...Read more

It’s easier than ever for employers to help pay student loans

Business / Terry Savage /

Help with repayment of student loans is one of the most enticing benefits a company can offer to today’s young workers. And now there’s a new opportunity for employers to act before year-end to take advantage of incentives in the 2020 coronavirus relief law, or CARES Act, that makes tuition repayment benefits even more attractive.

...Read more

Forward with perspective

Business / Terry Savage /

In mid-March, with the markets falling sharply and the Dow Jones Industrial Average hitting a low of 18,213, many investors would have been amazed to think they would recoup their losses and break even in their lifetime. Well, here we are less than six months later, with the markets reaching new all-time highs.

The rebound has been impressive. ...Read more

Rethinking retirement strategies

Business / Terry Savage /

The need for pre-retirement planning is greater than ever. The pandemic and its consequences for jobs and savings have increased the need to think carefully about your financial future. Into this retirement challenge comes the latest book by Steve Vernon, an actuary and research scholar at the Stanford Center on Longevity, and the author of a ...Read more

It’s a good time to lock in a low mortgage rate

Business / Terry Savage /

If you’re like most Americans, your family home is your largest asset, competing with your IRA or 401(k) as the base for your financial security. And your home, unlike an investment account, provides shelter as well as appreciation over the long run. Now it’s time to re-evaluate your home from a financial point of view.

One of the brightest...Read more

Watch out for the pandemic of identity theft

Business / Terry Savage /

There’s another pandemic underway right now, and it is spreading fast, according to the FBI. It’s financial identity theft, triggered by the millions of dollars being doled out quickly by disorganized and unsuspecting state unemployment offices.

The odds are that your financial information is out there somewhere on the “dark web” — ...Read more

Shares ‘by the slice’ platforms vie for small-time investors

Business / Terry Savage /

You can buy pizza by the slice, so why not stocks? It’s a concept that is catching on in the investment world as a new generation turns its expertise in electronic games into an effort to make money in the stock market. It’s better than wasting real dollars buying items in Roblox.

Fifty years ago, the investor with only a few dollars to ...Read more

Terry Savage: Why Gold?

Business / Terry Savage /

All that glitters is gold these days. Gold has broken through to new all-time highs, having touched $2,000 an ounce. Why gold now? It’s very simple. The Fed is creating (“printing”) an enormous amount of dollars — with more on the way to finance the next $1-plus trillion stimulus bill. The “smart money” is losing faith in paper money...Read more

Terry Savage: Is someone claiming unemployment in your name?

Business / Terry Savage /

A new wave of identity fraud is sweeping the nation, as imposters use stolen personal information to open bank accounts and claim unemployment benefits in the names of retirees and others who have no idea this is happening. The FBI estimates that as much as $26 billion could be stolen. The state of Washington has lost $660 million to this type ...Read more

Is someone claiming unemployment in your name?

Business / Terry Savage /

A new wave of identity fraud is sweeping the nation, as imposters use stolen personal information to open bank accounts and claim unemployment benefits in the names of retirees and others who have no idea this is happening. The FBI estimates that as much as $26 billion could be stolen. The state of Washington has lost $660 million to this type ...Read more

Terry Savage: The sensible way to approach the stock market

Business / Terry Savage /

For a brief moment the stock market — measured by the S&P 500 index of America’s largest stocks — recently exceeded its 2020 high by 0.1%. The tech-heavy Nasdaq-100 index briefly reached an all-time high over 11,000. Given market volatility, as you read this it could be lower, or even higher. But one thing is sure: In no way is the economy...Read more

Understand true cost of college before you commit

Business / Terry Savage /

College plans remain suspended for many thousands who are wondering just what the next academic year will look like. Schools are in the process of deciding if and how they can reopen campuses safely. And students are deciding whether to take the risk of attending — even after negotiating some significant tuition breaks.

And into the middle of...Read more

 

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