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News & Views
Get interesting insights—and share your own
Ask Carrie: The Personal Side of Money
Carrie Schwab-Pomerantz is a champion of personal finance education. In her columns she shares her perspective on everyday financial challenges, offering answers and insights that combine her professional experience as a financial expert with her personal perspective as a daughter, wife and mother. Get answers and ask your own questions here.
- Kids & Teens
- Couples & Families
- Saving & Spending
- Credit & Debt
- College Planning
- Homes & Mortgages
- Investing
- Insurance
- Retirement Planning
Most Recent Article June 16, 2010
Welcome to the Real World: Financial Advice for New Grads
Dear Carrie
My daughter has (at last!) graduated from college. Although she took several economics classes, she really doesn’t have a clue about handling her own money. How can I help her get started on the right foot? —A Reader
Dear Reader
Congratulations! Your daughter's college graduation is quite a milestone, and I'm sure you're very proud of her. But I am particularly delighted that you recognize her education is still incomplete. Most young adults have received no instruction about personal finance at the moment they need it most: when entering the workforce and starting "real life." With your daughter, I'd start with a few basics, both "big picture" ideas and some very practical ones. Read More
More articles about kids and teens
- Saving for Your Child's Future? Define That Future!
- Get Someone Started on a Lifetime of Investing
- Helping Young Adults: There's More to It Than Writing a Check
- Giving Grandkids a Financial Head Start
- Teaching Kids Investing Basics
- I've Started Saving for the Kids ... Now What?
- The Kiddie Tax and a New Law for 2009
- Leaving the Nest: What Your Young Adult Needs to Know About Money
- Investing in Your Children
- Should My Teen Open an IRA?
- Helping Kids Get Smart About Advertising
- What Do My Kids Need to Know About Credit?
- Encouraging Kids to Save Early
Related topics
Most Recent Article July 7, 2010
How to Keep Finance from Ruining Your Romance
Dear Carrie
I'm 35, have an established, well-paying career, and am engaged to a man who earns considerably less than I do. Neither of us has children. I treasure my financial independence, but also want to build an equitable relationship. I'd like to have a prenup, but am afraid of offending him. Help! —A Reader
Dear Reader
I agree that a prenuptial agreement could be a good idea for the two of you. The key, I think, is to put it in the right context. Make it clear from the get-go that your goal isn’t in any way to prepare yourself for a divorce—but to build a strong foundation for a lasting relationship. In fact, I often believe that the most important thing about writing a prenuptial agreement isn't necessarily the legal document itself, but rather that the process is a way to create a mutual understanding. Read More
More articles about couples and families
- Dividing Up Your Estate: Does It Ever Make Sense to Split It Unequally?
- Yes, a Nonworking Spouse Can Collect Social Security.
- Is a Personal Gift from an IRA Tax Deductible?
- Financial Gifts: Is It Better to Give Cash or Stock?
- Giving Money to Your Adult Children? Use It as an Introduction to Investing
- Suddenly Alone—Where Can You Turn for Help?
- Making Sense of the Gift Tax
- Tax-Free Giving: It Can Be Good for Both Giver and Receiver
- Nonworking Spouses Can Save for Retirement, Too
- Yours, Mine and Ours: Investing Together—or Not
- Marrying Debt: How to Think About It, How to Pay It Off
- Passing the Torch: Helping a Son Become His Own Investor
Related topics
Most Recent Article June 30, 2010
How Young Adults Can Overcome Financial Challenges
Dear Carrie
Readers, this week I’m exploring the unique financial challenges of young people just starting out. What better way to do this than by interviewing Ramit Sethi, the author of the New York Times best seller, "I Will Teach You to Be Rich." I hope you enjoy.
Dear Reader
We keep hearing that young adults are becoming financially independent at a later and later age. As a member of this generation, what’s your take on that? Besides the obvious things like student loans, a recession and high unemployment (which are obviously compounding the problems), what do you see as the biggest obstacles for young people? Read More
More articles about saving and spending
- Is Your IRA an Emergency Fund? Possibly—but Don't Touch It If You Don't Have To
- How Much Should I Be Saving?
- Advice for 20-Somethings: How to Make a Good Financial Start Even Better
- Preparing for the Worst: How Much Should I Save for an Emergency?
Related topics
Most Recent Article February 10, 2010
Credit Cards for People with Little or No Credit History
Dear Carrie
What's the best credit card for people with no credit history? —A Reader
Dear Reader
The reality is that there is no "best credit card" for people with no credit history. And in fact you will likely have to settle for a card with less than ideal terms. So your first order of business is to focus on building a good credit history. Fortunately, there are a lot of ways to do that. Read More
Most Recent Article January 20, 2010
Is a Private College Worth the Cost?
Dear Carrie
My daughter will be a freshman in September 2010, and while we wait to learn where she's been accepted, we're wondering your thoughts on public versus private colleges. The tuition difference is enormous; is a private university worth all that extra money? —A Reader
Dear Reader
Paying for college is always a hot topic, but you've raised a particularly interesting aspect of it: Is there a way to compare the value of a private college versus a public university? Read More
More articles about planning for college
- You Could Use Your Roth IRA to Pay Off Student Loans—but Should You?
- What's the Best Way for a Parent to Help Pay Off Student Loans?
- Investing for College: A 529 Plan Is Still a Good Idea
- Financial Aid and Personal Assets: Is There an Optimal Strategy?
- Fitting Grad School Plans Into Your Financial Future
- College Kids and Money: Budgeting 101
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Most Recent Article February 3, 2010
Should We Tap Our Savings to Pay Off a HELOC?
Dear Carrie
We have a credit line second mortgage on our house. I would like to pay this down with savings because the interest rate for the mortgage is much higher than the savings interest rate. My husband wants to maintain the savings for emergencies. Is it better to reduce the long-term debt of the mortgage? —A Reader
Dear Reader
The question of whether or not to pay off a mortgage comes up often. Usually it's not only a matter of the interest you're paying, but also how a mortgage fits into your overall financial picture. For instance, you need to factor in things like tax deductibility and other ways you could put that money to use. Read More
More articles about homes and mortgages
- Does It Make Sense to Pay Off Your Mortgage?
- Can I Use My Roth IRA to Buy a House?
- Reverse Mortgages: Get the Facts First
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Most Recent Article December 30, 2009
Recouping Losses Is a Balancing Act
Dear Carrie
I’m 49 and have about $200K in a 401(k). I will get a pension. I did have almost $260K in my 401(k) and got whacked in 2008. What should I be invested in to catch up after the loss I took? Also, how would I allocate between my traditional 401(k) and Roth 401(k)? —A Reader
Dear Reader
This is a great and timely question because so many people are in the same situation. And your attitude is right on—keep saving and investing in your retirement accounts. Suffering losses can stop some investors in their tracks, but now's the time when you need to double your efforts and reevaluate your strategy. Read More
More articles about investing
- Can You Protect Your Portfolio from Inflation? Should You Try?
- Is It a Good Idea to Borrow in Order to Buy Stocks?
- Recovering from the Downturn: You Can't Change the Past, but You Can Help Shape the Future
- Managing Your Portfolio: What to Think About When You Want to Do It Yourself
- Looking for a Safe Port in the Economic Storm
- In Today's Market, Where Do You Put Your Cash?
- Taking the Mystery Out of Diversification
- Market Timing: The (Nearly) Impossible Challenge
- Portfolio Blues: Advice Through the Ages
Related topics
Most Recent Article January 27, 2010
Protecting My Assets: What Kind of Insurance Is Right for Me?
Dear Carrie
I'm a 47-year-old single mom, and I'm looking for the best way to protect my house and provide for my 15 year old in case I die. At the very least, I want the trustee of my estate to be able to pay off my mortgage ($600,000) and have something left over for my child. I know that term policies are relatively inexpensive, but is there a better option? —A Reader
Dear Reader
Insurance is a critical part of personal finance, and you've brought up an important question. At first blush, your choice may seem straightforward: Do you buy low-cost term insurance, or a more expensive policy with an investment component? The answer depends on a lot of factors, with the key question for you being, "What is my objective?" Read More
Most Recent Article December 16, 2009
Close to Retirement? Don't Miss These Dates and Deadlines!
Dear Carrie
I'm turning 60 next year and keep hearing about different age-related requirements and milestones. For example: FRA? RMD? And when can I start withdrawing money from my 401(k) without a penalty? I want to make sure I don't miss something important. —A Reader
Dear Reader
Although a lot of us may try to forget our age as the years go by, when it comes to reaping the financial rewards of getting older, you're wise to keep certain age-related milestones top of mind. Here's a checklist of basic ages to keep in mind along with the significance of each. Read More
More articles about retirement
- Your Retirement Comes First—Even When "Kids" Need Your Help
- Preparing to Support Yourself—How Much Do You Need?
- Are You Saving Enough for Retirement? Only You Can Decide.
- Maxing Out Your Tax-Deductible IRA
- How to Plan for a Shorter Retirement
- Social Security Benefits: Timing Can Make a Difference
- Retirement Can Last a Very Long Time: Will Your Money Last as Long as You Do?
- Do I have Enough Money for Retirement?
- Re-Entering the Workforce: Retirement Savings in Retirement
- Starting Late—Catching Up
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