Category: Advice

Looking for a Way to Invest According to Your Values?

Dear Carrie: I’m fairly new to investing and want to choose companies that support causes I care about—such as the environment. Is this a good idea?—A Reader Dear Readers: As Kermit the Frog says, it’s not easy being green. But for today’s investors, it’s easier than ever to invest green. That’s because increased awareness and…


Seniors Obsess Over ‘Maximizing’ Their Social Security

“I want to make sure we maximize our Social Security payments.” “I am very concerned that we will make a wrong decision and leave Social Security money on the table.” “My wife and I both took our benefits at 62. We are now in our 70s. Everyone I talk to says we made a huge…


Retirement Funding Comes Before College Savings

Dear Dave, A friend told me about your Baby Steps program. I have one question, though. I noticed that according to your plan, saving for retirement should come before saving up a college fund for your kids. Why is this? Natalie   Dear Natalie, In short, college funding is not a necessity. Being able to…


What the Student Loan Payment Relief Extension Means for You

You guys, we all know 2020 was insane. But here’s some good news: You may not need to make student loan payments until October of this year because the student loan relief that came from the CARES Act has been extended through Sept. 30, 2021. Let’s talk about what this actually means so you know what’s…


Put a Little More Thought Into It

Dear Dave, I don’t like admitting this, but I absolutely hate my job. Last year I almost cashed out part of my 401(k) to start my own business or open a franchise, and doing something like this is still on my mind. Considering how I feel, do you think this would be a good idea?…


College Ahead: How Can I Improve My Child’s Chances for Financial Aid?

Dear Carrie: My daughter is starting high school this year, and I’m worried about paying for college. I’ve saved some money, but as a single mom, I’m afraid I just won’t be able to cover it all. Is there anything I can do to increase her chances of receiving financial aid?—A Reader Dear Reader: I’m…


Outsmarting the Robots

Did you know that when you submit a job application online, it’s probably read and filtered by a robot before a human ever sees it? No, this isn’t Star Wars. It’s just the 21st century job market. And that “robot” is something called an applicant tracking system (ATS). There’s no way around it, but there…


Should You Invest in Bitcoin in 2021?

No matter where you stand on bitcoin, we can agree on one thing: It’s polarizing. Some investors believe it’s the way of the future and others think it’s a scam. However, it’s gaining popularity. It’s likely that the coronavirus pandemic accelerated its acceptance by pushing more retail online. Now, more than one-third of small- and…


When Does Insurance Make Sense?

Dear Readers: The question posed in the headline is a great one because insurance can be one of the most confusing areas of finance. Now is a very good time to be asking this question, given the extreme challenges we faced in 2020—from the pandemic to hurricanes to wildfires. To me, the lesson from these…


Social Security Is a Worldwide Phenomenon

Most readers of my column are very nice and very normal people. Some are more progressive in their political thinking. And some are more conservative in their political thinking. But most of these folks, whether they lean left or lean right in their politics, generally agree that Social Security has been a force for good…