Dear Dave, My mom is 75, and I’m the executor of her estate. She has $500,000 in retirement accounts, and the only debt she has is around $70,000 on her mortgage. Most of her money is in the stock market, with only $20,000 in a money market account, and this worries me. She lives well…… MORE
Dave Says: Changing jobs and retirement savings
Dear Dave, What happens to my Roth 401(k) when I change jobs and go to a company that doesn’t offer this type of investment savings account? How should you proceed in this situation? Jamie Dear Jamie, Anytime you leave one company for another, you should always roll your 401(k) from your former employer into an…… MORE
Ask Ken Coleman: Your Career
“What if the money didn’t matter?” QUESTION: I’ve had two or three jobs since graduating from college, and I haven’t felt like any of them were what I’m supposed to be doing with my life. Do you have any advice to help someone find their true calling? ANSWER: Believe it or not, many folks out…… MORE
Dave Says: That’s a lot!
Dear Dave, I’m on Baby Step 1 of your plan, and I work at a community college that takes a mandatory 20 percent from our pay for retirement. I know you say retirement contributions should be put on hold until all debt except for your home is paid off, so do you have any thoughts…… MORE
Dave Says: Return of premium?
Dear Dave, I’m thinking about signing up for a return of premium life insurance policy. It costs more per month than other policies, but it allows you to get all your money back after 30 years assuming you live that long. Is this too good to be true? Tommy Dear Tommy, It’s not too good…… MORE
Dave Says: Make sure it’s a gift
Dear Dave, I’m on Baby Step 4 of your plan. I’m debt-free, and I’m currently putting lots of money toward retirement. Now, I want to go back to school and get an MBA. I could pay for school with cash, but that would delay buying a home. My parents have offered to help out financially,…… MORE
Dave Says: Cash out stock for emergency fund?
Dear Dave, I’m 45, married, and we have a household income of around $85,000 a year. We have no debt, except for our home, and we owe about $70,000 on it. I recently stopped contributing to my 401(k) temporarily in an effort to help us build an emergency fund, but things are moving slowly. We…… MORE
Here’s your permission slip to become a millionaire
HERE’S YOUR PERMISSION SLIP TO BECOME A MILLIONAIRE By Chris Hogan Can I be honest? I’m tired of hearing people make millionaires out to be big, bad wolves. That all wealthy people are evil, greedy, self-centered people who inherited or stole money to get rich. It’s as if there were something wrong with being wealthy. Listen, people: money…… MORE
Dave Says: Short term planning
Dear Dave, My husband and I are completely debt-free, and we’re saving up for our first house. We currently have about $90,000 in savings, and we’d like to buy a home with cash in the next few years. Where should we put our money, so it will work for us while we save more? Aimee…… MORE
Dave Says: Keep your emergency fund simple)
Dear Dave, One of my friends suggested that I put my emergency fund money into bonds. What do you think of this idea? Renee Dear Renee, Never put your emergency fund into things where volatility and risk are a concern. An emergency fund isn’t an investment; it’s three to six months of expenses set aside…… MORE
