Category: money

What You Should Know About Supplemental Security Income

This is going to be a column about Supplemental Security Income, or SSI. In other words, it will NOT be a column about Social Security. Supplemental Security Income and Social Security are two entirely different government programs. They really have nothing to do with each other, other than the fact that they are both managed…


Handling Social Security Affairs When Someone Dies

I wrote a column about a year ago based on an email from an 85-year-old woman whose husband of 60 years was near death. She was asking me how to deal with Social Security matters after he passed away. That column struck a chord with many people. For example, many readers told me they were…


Make an Impact With Investing?

Dear Dave, A friend recently mentioned something called impact investing to me. What exactly is this? How do impact investment funds perform, and what do you think about them? Carson Dear Carson, Impact investing generally aims to benefit society, while providing a profit for the investor, by investing in companies, funds, and organizations that are aligned…


5 Tips for Staying Motivated While Paying Off Debt

We’ve passed the halfway point in the year, and if you’re also in the middle of your debt-free journey, your motivation may be in a slump. The excitement of starting your debt-free journey may have worn off, and now you’re in the daily grind of paying off those loans and making all the sacrifices you…


Does My Mom Need Long-Term Care Insurance?

Dear Dave, My dad passed away about a year ago, but he left my mom in really good shape financially. They never had any consumer debt, the house is paid for, and they had about $1 million in assets. Dad also left her a $500,000 trust. Mom is going to be 60 next year. She…


Social Security 101

Sometimes this column can get into some complicated or esoteric Social Security rules or circumstances. But it dawned on me that many of the emails I get from readers are asking questions about some pretty basic Social Security stuff. So this week’s column will be like a refresher course in Social Security. I will just…


If You Need a Co-Signer, You’re Not Ready

Dear Dave, My fiancée and I want to make an offer on a house. She has a lot of late payments and a bad credit record, though, but she is working hard to manage her money better and get out of debt. I don’t make enough money to get a home loan by myself, and…


What’s Holding You Back From Your First $1 Million? Check out These Possible Culprits

This story originally appeared on MarketBeat In your head, you’ve always known you’ll make it to the millionaire club. However, getting to $1 million and beyond has proven more difficult than you thought (despite reading every book related to “The Millionaire Next Door” that ever existed). Wealthy people often say, “My first $1 million was…


11 Money Traps to Avoid When Retirement Planning

Retirement is something that most working people hope to eventually achieve, but planning for retirement isn’t always easy. Many different variables, such as the future cost of living, your life expectancy, the housing market, etc., need to be accounted for. It can be challenging to know just how much you’ll need in order to live…


Borrow Your Own Money?

Dear Dave, I have a question about self-banking with whole term life insurance. The way I understand it, you can accrue a cash balance, borrow against it, and then pay interest to yourself. Is this worth it, or should I stay away from it and continue using a bank? Kunal Dear Kunal, Actually, it’s a…