I have a pension that is available to me and I wonder about beginning the pension now or waiting. If I take the pension now I will get about $1,183 per month. By waiting, it increases approximately 7.5 percent each year to a maximum of $2,071 per month at age 65.
We are installing new vinyl replacement windows, which qualify for an energy tax credit. Since we have not had any tax liability for several years and do not expect any when we file our 2009 federal taxes, would we be entitled to any credit?
It has been almost a year since one of the most terrifying periods in stock market history was set off by the collapse of Lehman Brothers on Sept. 15. The fear was that the world's financial system would soon meet the same fate.
It's a tale of two generations.
When the stock market is careening downward, people worry about losing money and wonder about their next move.
But young and old shouldn't be focusing on the concerns of the other.
Fleeing the market a few months ago might have seemed an easy decision — potentially painful, yes, but easy, because your gut told you to stop losing money fast. Now many investors are in the confusing state that comes after a mass exodus from stocks.
The question: How and when do you get back into the market?
You might be scared, but that's not always bad — if you channel it into action.
The stock market and housing market crash, plus rising unemployment and harsh credit card terms, have made Americans aware that their financial futures are fragile. But out of the pain has come laudable behavior: People are thinking twice before spending on a whim, for example.
Q: I received a letter from my financial adviser that said I would have to pay a higher percentage in fees because my account size fell below $250,000. The reason my account fell below $250,000 is because the adviser lost money on the investments. To charge me more seems outrageous. Do you agree?
Q. I'm 24, and I've been investing in a target-date fund in my 401(k). I've lost a lot of money and have been reading that it's good to "rebalance" everything in the 401(k) after losing money. Does that apply to target-date funds?
Q: My daughter is going to college next fall, and I worry about how we are going to pay for it. We didn't get any financial aid because we have good jobs. But I'm in a profession with a lot of layoffs, and I could lose my job while she's in school. I suppose there is nothing I can do now, except encourage her to consider nursing. She seems to like the idea. I figure she will at least get a job.
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