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Once again, it’s time to make some New Year’s resolutions. This year, in addition to promising yourself that you’ll hit the gym more often, learn a new language or take up a musical instrument – all worthy goals, of course – why not set some financial resolutions? Consider these suggestions: Boost your retirement account contributions. If your income will rise this year, consider putting more money into your employer-sponsored retirement plan, such as a 401(k), 403(b) and 457(b). You typically contribute pre-tax dollars to your plan, so, the m...
LOS ANGELES (AP) – With a proposed payout of more than $1 billion, one major chapter of a nearly four-year legal saga that left Toyota Motor Corp. fighting hundreds of lawsuits and struggling with a tarnished image has ended, though another remains. The settlement – unprecedented in its size according to a plaintiff’s attorney – brings an end to claims from owners who said the value of their vehicles plunged after recalls over sudden and unintended acceleration. Lawsuits claiming that the defects caused injury or death remain, with the first t...
These days, you can go online and invest, for modest fees. You can also visit various websites for research and watch numerous cable shows for investment recommendations. So, why shouldn’t you be a “do-it-yourself” investor rather than work with a financial professional? Actually, there are at least five good reasons why a financial advisor can help make you a better investor. A financial advisor can: • Ask the right questions — If you try to invest on your own, you may find yourself asking the wrong questions, such as: “What’s the ‘hottest...
Here’s a disturbing statistic: One out of every five Americans over the age of 65 has been victimized by a financial scheme, according to the Investor Protection Trust, a nonprofit organization devoted to investor education. If your parents are in this age group, should you be concerned? And can you help them avoid being “scammed” so that they maintain control over their finances? The answer to the first question is “yes” – you should be concerned. Of course, as the numbers above show, most aging Americans are not being swindled, which sugge...