What would be better, the withdrawal of 401k funds or to obtain an home equity loan to pay for wedding expenses? Q: I am 57 and my husband is 62. We would like to borrow $25,000 to help pay for a wedding for our daughter. We purchased a townhome in 2004 for $230,000 at an [...]
With the price of gold recently reaching $1,900 per troy ounce and expected to hit $2,500 per troy ounce by year’s end, the temptation to sell gold is high for many consumers looking for investing advice. An uncertain stock market and the recent downgrade in the United States’ credit rating have created a major demand [...]
In the late ’90s, I had a client who was excited to see his stock options increasing at a rapid rate. Over the course of a few months, he saw the value of his options increase four times, and he was a millionaire on paper literally overnight. Wanting more and thinking it could never go [...]
Q & A with Financial Planning Expert Roger Wohlner Beginning Financial Building Blocks Beginning a Career Q: I’m just starting out in my career. I put money monthly into a 401(k), but what else should I be doing? Roger Wohlner: Funding your 401(k) is a great start. You should also look to build up an [...]
How does probate work without a will? The purpose of probate is to distribute assets and debt, if there is no will, the estate may not need to go through it. Q: What happens, if a person passes away and no one files probate because the estate has no assets? Do any of the deceased [...]
When I work with a new client in my financial planning practice, I often come across a condition that I call “financial clutter.” This has many forms, but a common version might look like this: Husband and wife have worked at several jobs and have a number of 401(k) plans left with their former employers. [...]
Since 2003, I have been a member of the National Association of Personal Financial Advisors, or NAPFA, which is the largest professional organization of fee-only advisors. Several years ago, NAPFA created a number of small study groups. The group to which I belong has nine members, and all of us are either solo or have [...]
Recently, a friend asked me to look over his mother’s holdings. His mother is in her late 60s, recently divorced, and on her own financially for the first time. She decided to go with the financial advisor rep at her local bank for some free investment help. Because she didn’t pay for any sort of [...]
When I was 18, I decided I needed a tattoo. Very original, I know. But I was determined. A friend of mine and I went to a new tattoo shop in our college town. I had a coupon for 10% from the local Penny Saver-type paper. In my defense, I was a broke college-kid. My [...]
Anyone who drives a car is keenly aware of the swift rise in the price of gas. This is largely a result of political uncertainty in the Middle East. What impact will the increase in oil and gas have on your portfolio? The answer varies. In some cases, you’ll see a direct positive impact on [...]
