Are You a Risk-Taker? Don’t Be Fooled by Bull Market

I’ve filled out more than a few risk-profile questionnaires over the years. These forms are supposed to measure how much investment risk you’re comfortable with, such as what percentage of your portfolio should be in risky stocks versus low-risk bonds. Every questionnaire I’ve ever done has pegged me as a living-on-the-edge kind of guy who should have between 70 percent and 91 percent of my money in stocks or stock funds. And that’s the problem. In reality, only 45 percent of my money is in stock and stock funds, …

Brooke Astor’s Grandson Tells Senate Panel of Financial Abuse

The Senate Special Committee on Aging held one of its periodic hearings on financial abuse of older people the other day, this time inviting a relative involved in one of the more spectacular headline-making cases in recent years to testify. The grandson of socialite Brooke Astor, who blew the whistle on his father for plundering millions from his grandmother’s estate, told the Senate panel Wednesday that his grandmother’s greatest legacy may be the national attention focused on elder financial abuse. “While my grandmother …

Will There Be a Santa Claus Market Rally?

Since 1950, December has proven to be the best month for the stock market. According to MoneyChimp.com, the S&P 500 has turned in an average gain for December of 1.62 percent, outpacing any other month. So far this December, Santa has left nothing but coal in the stock market’s stocking, with the S&P 500 losing more than 65 points, or about 3.77 percent, through Dec. 15. Not exactly anyone’s idea of a rally. >> 5 Bad Investment Moves No need …

It’s August, So It Must Be Make-a-Will Month

So August is National Make-a-Will Month. Who knew? Getting a will isn’t the most pleasant of tasks, and consequently, too few people do it. A recent survey of more than 2,000 people by the online legal service Rocket Lawyer found that 64 percent don’t have wills. The biggest reason cited by folks: They just never got around to it. Some said they didn’t want to think about death. You might believe that only wealthier families need a will. You’d be …

Silence Could Be Costly in Family Financial Planning

Parents and their adult children say they want to have honest conversations about finances and retirement issues, but they just don’t agree on when to talk, according to a survey released today by Fidelity Investments. And when these discussions do eventually occur, they often don’t get down to the details needed for proper financial planning, the Boston-based investment firm found. Lauren Brouhard, senior vice president of retirement at Fidelity, urges families to bite the bullet and talk – before parents retire …

Is Rising Mortgage Debt Threatening Retirements?

Older Americans are carrying more mortgage debt and have accumulated less home equity than their peers a decade earlier, according to a report by the Consumer Financial Protection Bureau. The median mortgage debt for those age 65 and older rose 82 percent to $79,000 from 2001 to 2011, according to the agency. And though delinquencies and foreclosures have decreased since 2012, they had increased fivefold between 2007 and 2011 among older homeowners, the CFPB reports. “A home can be a place of …