President Proposes Rule to Protect Worker Savings

President Barack Obama called on the Department of Labor today to draw up a rule to protect people who save in IRAs, 401(k)s and other workplace retirement plans from hidden fees and expenses that may drain billions from their accounts. The president wants brokers and other professionals to be required to act in an investor’s best interest — instead of their own — when dispensing advice on retirement accounts. “Right now there are no uniform rules of the road that require retirement advisers to …

Exercise Trend: HIIT Me With Your Best Shot!

Walking. Indoor cycling. Yoga. Older Americans continue gravitating to these activities as a favorite way to burn calories, but now there’s a new kid in the town gym: It’s called high-intensity interval training, and it seems destined to become a HIIT. Never heard of HIIT? Based on studies conducted by Martin Gibala, a kinesiology professor at McMaster University in Hamilton, Ontario, HIIT is showing the world that less is more when it comes to exercise. There couldn’t be better news …

How to Find Reward by Working With Those in Need

As Maureen McCarty and I meet with Maria (not her real name), I realize the compounded struggles of the poor. Maria’s English speaking and comprehension are limited. She and her husband are separated. Her son’s health issues complicate her search for work. And at this moment, with area rents topping $1,000 a month, even for a small apartment, Maria needs rent assistance. Can we help her? Each Wednesday morning, McCarty and other finance counselors who volunteer with a Christ Church’s …

What to Do With Your Money in 2015

As we start the new year, the usual suspects are lining up to forecast market trends and tell us what to do with our money. But rather than sifting through the same old implausible predictions of the short-term future, let me suggest some useful advice, compliments of Wall Street Journal columnist Jonathan Clements. I asked Clements to share his picks of the best advice for those near or in retirement from his new book, Money Guide 2015, and here they are. …

Wisdom for Life in the New Year

As I travel in diverse circles from day to day, I pick up tidbits of wisdom from various voices, whether from speeches, conversations or even something I may have read. Approaching 2015, I’ll take a moment now to reflect and share a few recent quotes for what I call “wisdom for life in the new year.” The first quote comes from the Rev. Jesse Jackson Sr. as he eulogized former D.C. Mayor Marion Barry Dec. 6. He said: “When champions …

Lifestyles of the Rich and Frugal

“If you buy things you do not need, soon you will have to sell things you need.” That sounds like something any one of the hundreds of proud, self-proclaimed “cheapskates” I’ve written about over the years would say. And it is a major tenet of living a frugal, simpler life — one which, I would argue, is ultimately happier, less stressful and more rewarding. But it may surprise you to learn that those words were actually spoken by none other …