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After the Fed decision to keep interest rates low, where can you turn to beef up your income? (For more on the Fed decision, see "") Low rates are eating away at good savers, general investors and retirement planners alike.
Charles from MI wants to increase the income on his portfolio. In addition to laddering CD's and investing in a diversified bond fund, we talked about dividend-producing stocks. A no-load fund like Vanguard Dividend Appreciation (VDAIX) or ETF's like SPDR Div ETF (SDY) or iShares High Dividend Equity Fund (HDY) would help round out a diversified portfolio.
Savers are having a rough time, whether they're trying to earn more than 0.05 percent interest like Tina Beth from NYC or just juggling accounts like Dan from Charleston, WV.
We got a bunch of retirement questions, starting with Ann, who had questions about Medigap insurance, Social Security, long-term care and investment management. Peggy wants to know about rolling over an old 401k and Jeff weighed in with information for other listeners--the concept of equal periodic distribution from a 401K. Jack followed up on an earlier question about using retirement funds to purchase income property.
Thanks to a tweet from @JoJo_runnr, I touched on which financial issues to discuss before marriage. (I linked to a couple of useful articles below that cover money and relationships.)
We covered questions about student loans from Matt and Ben, both of whom sound very responsible for guys in their twenties! Meanwhile, after getting a second chance in her financial life, I encouraged Christie from CA not to blow it!
Chris from MI asked about establishing an account for his son, who has some minor disabilities and also wanted to know the age-old question: how much is enough for retirement? Joe poses another age-old question: am I doing enough to mitigate my tax exposure?
Here are web sites and resources mentioned in this week's show:
-- 9 Questions to Ask a Financial Advisor
-- NAPFA: National Association of Personal Financial Advisors (fee-only advisors)
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