When Gordon Gekko, the main antagonist in the 1987 film “Wall Street,” declared in no uncertain terms that “Greed is good!” people flocked to the theaters. And cheered. Please don’t base your belief system on a movie line that might have been memorable and entertaining but is dead wrong. Greed is like cancer that, when…
Lapses in Service and Advice at the SSA
Today, I’m going to write, once again, about lapses in service and advice from the Social Security Administration (SSA). I cringe every time I write one of these kinds of columns. When I worked for the SSA between 1973 and 2005, I was often so proud of my agency. We were always winning awards for…
How to Stop Making Bad Money Decisions
I saw the funniest sign, but it wasn’t funny for long because I started to think about it. Suddenly, the humor melted away. The sign read: “Everything happens for a reason. Sometimes the reason is you’re stupid and make bad decisions.” Ouch! Those 15 words hit hard because I’ve made more than my share of…
Should You Lend Money to Family and Friends? Read This First
Over the years, I’ve heard from dozens of readers who have lent money to friends and family members, only to become outraged when the deal goes sour. The problem is, they write to me after they’ve made the loan. By now, they’ve been waiting months, even years, for repayment without success, hoping I can wave…
Where Should He Park the Money?
Dear Dave, Our son is 13, and he has been doing some part-time work for a friend of the family. He makes $40 to $60 a week, and he would like to begin investing the majority of what he earns. Do you have a suggestion for a good place he could put his money? Lindsay…
A COLA Gift From Congress Few Seniors Know About
I wonder if any of my readers have thought about this. Why did you get the 2022 cost-of-living increase in your January Social Security checks? After all, that check you get in January is the Social Security payment for December. In other words, you get your first 2022 COLA increase in your December 2021 Social…
Is It Ethical to Negotiate the Agent’s Commission?
Dear Monty: My wife and I are in the process of downsizing. We have shopped neighborhoods and have chosen several where we would like to land. In this process, one particular agent showed us five or six homes. Now it is time to list our home. This agent’s company has proven a definite lack of…
5 Ways to Cut Household Costs This Year
2022 is here, guys! There’s no better time than the beginning of a new year (after all that crazy Christmas spending) to get serious about saving money. And one simple way to do that is by looking for ways to save around the house. So, here are five practical ways to cut back on household…
Budgeting for Car Repair Costs
Dear Dave, I am following your plan, and recently became debt-free, but I have a question. When doing a monthly budget, should I figure in a specific category for car repairs and maintenance, or just use my emergency fund? —Ashleigh Dear Ashleigh, Congratulations on becoming debt-free! You know, new cars, old cars, and in-between cars…
Make a Budget Line for Fun Money
Dear Dave, I finally paid off all my debt except for my house, and I have an emergency fund of six months of expenses saved. It feels great to be in control of my money, but I am afraid I might lose control again and end up back where I started before I began following…
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