COVID-19 Personal Finance Q and A
COVID-19 reached American soil six months ago and business closures and lockdowns resulting in months of reduced (or no) income have thrown the finances of millions of households into a tailspin. What to do?...
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20 Weeks of Living with COVID-19: Seven Useful Insights
Yes, I have been counting. This weekend completes 20 weeks of living with COVID-19 uncertainty on so many fronts. I count my blessings that I am healthy, busy with multiple work projects, and mostly...
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How to Save Money on a New Car
After a house and a college education, a new car is one of the largest purchases that people make. Some people choose to buy a car outright and borrow money to pay for it...
Four Months of COVID-19: Expert Recommendations
Monday, March 16, 2020 was the start of “the week that America shut down.” Therefore, we have been living with the impact of COVID-19 for exactly four months. I continue to collect expert recommendations...
Income Taxes in a Pandemic: The Final Countdown
It’s official! Federal income taxes (and income taxes owed in many states) are due in one week on Wednesday, July 15. There are no further COVID-19 extensions. Period. In addition, we have just crossed...
How to Become Financially Independent
Happy Independence Day! With the coming July 4thholiday weekend and release of the new Disney+ Hamilton movie celebrating the origins of America’s independence, I thought it might be useful this week to discuss financial...
Managing Money in Coronavirus Crisis Mode
Even before the COVID-19 pandemic took hold, many Americans were struggling financially. According to the Federal Reserve Reporton the Economic Well-Being of U.S. Households in 2019, only 63% of adults could cover an unexpected...
Flipping a Switch: A Six-Month Progress Report
As regular readers of the Money Talk blog know, my new book, Flipping a Switch: Your Guide to Happiness and Financial Security in Later Life, is in the home stretch and due out soon,...
How Strong Are Your Resiliency Resources?
Events related to the COVID-19 pandemic have recently brought increased attention to the concept of resilience. I recently presented a 90-minute webinar for financial education professionals about building financial resilience. In everyday language, resilience is the...
Evolving Rules for RMDs
There are several key “milestone” ages in later life. At age 50, you can make catch-up contributions to individual retirement accounts and tax-deferred retirement savings plans, like 401(k)s. At age 62, you can start...
COVID-19 Financial Planning Insights
Every American has been impacted by COVID-19 in some way. On Monday, March 16, America started to shut down en masse. As we complete week 11 of COVID-19 related school, business, and organization closures,...
COVID19 “Overwhelm”: Strategies to Move Forward
The country locked down 10 weeks ago and, for many people, mental and physical fatigue are palpable. Sheltering in place at home is “getting (real) old” and weeks with a reduced (or no) income...
More COVID-19 “Flipped Switches”
In late March, I described my new book called, Flipping a Switch, which will be now be out in June due to COVID-19 delays. The book describes 35 “flipped switches (i.e., transitions) that people...