Serving proudly since 1873 as the beautiful Nebraska Panhandle's first newspaper
Serving proudly since 1873 as the beautiful Nebraska Panhandle's first newspaper
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If you have a medical appointment this week, you might want to wish your nurse a happy National Nurses Week. This annual event is designed to celebrate the important role nurses play in health care. Of course, while nurses and doctors can help you in many ways, you can do a lot of good for yourself by adopting healthy living habits, such as eating right, exercising frequently, and so on. But you can also do much to help your financial health. Here are a few suggestions: Stay invested. During times of market volatility, it can be temping to...
Mother’s Day is almost here, so start shopping for the flowers or candy for Mom. But this year, why not also go beyond the traditional? Specifically, if your mother is still working but getting close to retirement, consider providing her with a gift that can help make her days as a retiree more pleasant. Here are a few suggestions: • Contribute to her IRA. As long as your mother is employed, she can contribute to an IRA, and she may already have one. If so, help her fund it for 2016. You can’t contribute directly to her IRA, but you can certa...
Tax Freedom Day, which typically occurs in late April, according to the Tax Foundation, is the day when the nation as a whole has earned enough money to pay off its total tax bill for the year. So you may want to use this opportunity to determine if you can liberate yourself from some investment-related taxes in the future. Actually, Tax Freedom Day is something of a fiction, in practical terms, because most people pay their taxes throughout the year via payroll deductions. Also, you may not mind paying your share of taxes, because your tax...
On April 22, we observe Earth Day. Like many people, you might participate in some activities to help the health of our planet. But you can also do some things to improve your personal investment environment. In fact, you might want to follow a key environmental theme: reduce, reuse, recycle. How can these elements be applied to investing? Here are some ideas: • Reduce — You don’t want to waste time, effort and money on investment decisions that will ultimately not benefit you much, if at all. For example, if you are constantly buying and s...
Even if you’ve been out of school for a few years, you may still have a vivid reminder of college: your student loan debt. Since you’ve joined the workforce, you might be paying back your loans as best you can. But can you gradually reduce your debts while still putting money away for your long-term goals – such as retirement? Of course, you might think it’s premature to even think about retiring, since you probably have decades to go before you say goodbye to the working world. But the sooner you begin saving and investing for retirem...
To be successful at investing, some people think they need to “get in on the ground floor” of the next “big thing.” However, instead of waiting for that one “hot” stock that may never come along, consider creating an asset allocation – a mix of investments – that’s appropriate for your needs, goals and risk tolerance. But once you have such a mix, should you keep it intact forever, or will you need to make some changes? And if so, when? To begin with, why is asset allocation important? Different types of investments – growth stocks, inco...
If you’re at the beginning of your career, you might not be thinking too much about the end of it. But even younger workers should be aware of – and saving for – their eventual retirement. And since you’ve got many years until you do retire, you’ve got a lot of options to consider – one of which is whether an IRA may be appropriate for you and, if so, what type. Essentially, you can choose between a “traditional” IRA and a Roth IRA. (Other types of IRAs are available if you’re self-employed.) With a traditional IRA, you contribute “preta...
Now that spring has officially sprung, you might look around your home and decide it’s time for some sprucing up. But you don’t have to confine your efforts to your house and yard – you can also engage in a little “spring cleaning” in your investment portfolio. Here are a few suggestions for doing just that: • “Dust off” your investment strategy. Dusting is a big part of spring cleaning. Light fixtures, shelves, windowsills – they can all acquire layers of dust and grime that need to be whisked away. And if you’ve left your investment strategy...
April showers may bring May flowers, but March is National Umbrella Month. While ranking high on the list of truly obscure celebrations, this “month” can still teach us a few things – especially if we think about “umbrellas” that can help us protect our financial goals. Consider these key areas: • Your vulnerability to emergencies – It’s a good idea to maintain an emergency fund containing three to six months’ worth of living expenses. Without such a fund, you may need to dip into your long-term investments to pay for unexpected, and u...
International Women’s Day was observed on March 8. Around the world, thousands of events will honor women’s achievements. Yet, women still face challenges in many areas of life – such as their financial situations. So if you’re a woman, you may want to use this occasion to consider steps you can take to help move toward your important financial goals, such as a comfortable retirement. First of all, be aware of the potential obstacles facing women: lower earnings than men, longer lifespans than men and more time out of the workforce than me...
For many people, the concept of retirement can be scary, both emotionally and financially. If you, too, feel somewhat anxious about what awaits you, you might feel more comfortable in knowing that, depending on where you work, you might be able to retire in stages. As its name suggests, retiring in stages typically involves reducing one’s work hours from full-time to part-time, and then, eventually, to complete retirement. If you enjoy the social relationships of work, and you define part of your identity with what you do at your job, this t...
As an investor, you may be gaining familiarity with the term “market correction.” But what does it mean? And, more importantly, what does it mean to you? A correction occurs when a key index, such as the S&P 500, declines at least 10 percent from its previous high. A correction, by definition, is short-term in nature and has historically happened fairly regularly – about once a year. However, over the past several years, we’ve experienced fewer corrections, so when we have one now, it seems particularly jarring to investors. How should you res...
If you have a child in college, you’re probably familiar with the Free Application for Federal Student Aid (FAFSA), which must be completed to help ensure that students don’t miss out on federal and state grants, work-study jobs and loans. But you might not know that some important changes will be coming to the FAFSA during 2016 – and these changes can affect both the process of filing for aid, and, possibly, the amount of aid your child will receive. Here are three key changes to watch for: • Earlier availability of the FAFSA – Currently, you...
Americans spent nearly $19 billion in Valentine’s Day gifts last year, according to the National Retail Federation. Much of this money went for gifts with short shelf lives, such as candy, flowers and restaurant meals (and about $700 million was spent on gifts for pets). There’s certainly nothing wrong with giving chocolates or roses. But this year, think about going beyond the classic gifts. Instead, use Valentine’s Day as an opportunity to determine how you can make gifts with long-lasting impact to your circle of loved ones. Here are some su...
“Be prepared” is the Boy Scout motto, and it’s also pretty good advice for anyone seeking to guard against various disasters – including financial ones. Here are some events that can have serious financial consequences, along with suggestions on preparing yourself: • Loss of employment – If you were to lose your job, your family might have to struggle financially to make it until you’re employed again. To protect against this potential threat, try to build an emergency fund containing three to six months’ worth of living expenses. That...
January 29 is National Puzzle Day, with puzzle celebrations and events taking place at museums, libraries and other venues across the country. Why this date was chosen – or why National Puzzle Day even exists – is something of a mystery. But as an investor, you can find value in the concept of a puzzle – specifically, in putting together the pieces of your financial puzzle. What are these pieces? Here are the essential ones: • Growth – At different times in your life, you will have various goals – purchasing a first or second home, sending your...
You invest so that you can achieve a variety of goals, such as a secure retirement. It’s inevitable, though, that you will incur some costs when investing, ranging from payments to a financial professional to costs of educational materials. So it’s a good idea to familiarize yourself with these expenses. If you work with a financial professional – and you should, because the investment world is complex – you will need to compensate this individual for his or her expertise and guidance. Financial advisors get paid in different ways, includi...
We’re just a few weeks away from the first caucuses and primaries, so presidential election season is in full swing. As a voter, you may be keenly interested in the election process. But as an investor, should you be concerned? If you take a look back, you might be somewhat encouraged over the prospects of the financial markets this year. In the last 12 presidential election years, the Dow Jones Industrial Average has been up nine times and down just three. So, election years must be good for the financial markets, right? Not necessarily. In e...
The late, great Yogi Berra supposedly said it: “The future ain’t what it used to be.” And the same could be said of retirement. Due to several factors, such as advances in health care, today’s retirees are living longer, more active lives than their predecessors. In fact, you could spend two, or even three, decades in retirement – which means you need a “longevity strategy.” Such a strategy needs to be part of your overall retirement income strategy, but here are five key areas you’ll need to address: • Lifestyle – What do you plan to do duri...
There’s a lot to know about investing, so it’s a good idea to get some professional help. But with so many financial advisors out there, how can you choose one that’s right for you? You may have to interview several prospective financial advisors before deciding on one. When you talk to them, see if you can get a sense of how they might work with you. Specifically, try to answer the following questions: Does this financial advisor … … Understand you? Perhaps above all else, you want a financial advisor who will take the time to get to know y...
During this holiday season, you’ll likely be spending money, in various amounts and in various ways. And you can use this experience to teach your children about money management. Here are a few ideas for doing just that: • Stick to a budget. Tell your children you’ve set aside a certain amount of money for gifts and holiday events, such as hosting parties, and that you won’t exceed it. And if you have saved money throughout the year in a special holiday fund, let your kids know about that, too. This information should help impress upon th...
Who knows where the time goes? Although 2015 is almost in the books, you can still make some year-end investment and financial moves that may help you get off to a good start in 2016. Here are a few suggestions: • Boost your 401(k) contributions. Ask your employer if you still have time to add more to your 401(k) before the year ends. If not, at least increase your contributions in 2016, especially if your salary goes up. • Consider “tax-loss” selling. We experienced considerable turbulence in the financial markets this past year, so you may...
It’s certainly the season for giving – and when you make charitable gifts, you can both give and receive. To get the most out of your gifts, your first step is to make sure you are giving to a worthy charity. That means you’ll need to ask some questions. How does a group measure its effectiveness? And does it use its money wisely? Is it devoting as much of its contributions as possible to the actual work of the organization, or is it spending too much money on administrative costs? Generally, a worthwhile charity should spend at least 75 perce...
When will the Federal Reserve raise interest rates? This question has been on the minds of economists and financial market prognosticators for quite some time now. But what does it mean to you, as an individual investor? First of all, it’s important to understand just what is meant by “raising rates.” The Federal Reserve, or the “Fed,” directly controls short-term interest rates, although, through various measures, it can also affect long-term rates. Typically, the Fed will lower short-term rates to stimulate the economy. Conversely, the Fed w...
Thanksgiving is just around the corner. And like all holidays, this one has plenty of traditions, such as Macy’s Thanksgiving Day Parade (started in 1924) and football (the first broadcast Thanksgiving Day game was played between the Detroit Lions and the Chicago Bears in 1934). Traditions are important, and you may want to establish some in one of the key activities of your own life: investing. So, what sort of investment traditions could you start? Here are a few ideas: • Invest regularly. By definition, engaging in a tradition means per...
