Expert advice for real-life finances...
How long should I keep financial documents?
You may be keeping too much paperwork for too long. Or too little for not long enough. Knowing what to keep and what to toss can make managing your money MUCH easier.
Here’s a quick guide.
Question: How can I borrow emergency money fast?
Answer: You could charge an emergency expense on your credit card. Or, you could borrow against stocks you own. Borrowing against stocks costs around 7.5 percent. Borrowing against credit cards is around 13 percent. You just saved 5.5 percent!
Question: Is my 401(k) still a great way to save?
Answer: For years, employers, financial planners and government officials have harped on one piece of advice: Max out your 401(k)! Most people who followed this advice are probably happy they did. But new tax laws may change all of
this: For a bigger payday later you may be better off saving on your own instead of a 401(k)... because now, your spending
power in retirement depends on factors OTHER THAN the tax benefits of a 401(k).
