Debt: A Deal Breaker in Millennial Romances?

We heard through the grapevine about a boomer couple upset because their son, who graduated from a prestigious college and professional school without loans, was marrying a young lawyer with tens of thousands in educational debt. The parents feared that paying off this financial burden would delay the couple in buying a house and starting a family. Wisely, they chose to say nothing. Their concern is not unwarranted. Millennials who are able to get ahead financially by owning a house …

3 Reasons to Consider a ‘Robo-Adviser’

I’m a fan of the so-called “robo-advisers.” These are online wealth management services that provide automated software-based portfolio management advice without the use of human advisers. Two of the larger robo-advisers are Betterment and Wealthfront. In addition, Schwab recently launched its version, branded Intelligent Portfolios, and Vanguard has a product called Personal Advisor Services. Here are three reasons I’m a fan of these adviser services: Lower fees Fees matter. And because they do, I encourage people to get real when …

The $64,000 Question: Where Did My Retirement Savings Go?

Investment advice should be free of conflicts of interest The way Americans save for retirement has changed drastically over the past few decades. Thirty years ago, the typical worker had a pension through his or her job. Today, if workers have a retirement plan at all, it is likely a 401(k) or IRA. Why does this matter? Because now more than ever, individuals must make the complicated decisions about financial security in retirement: what to invest in, how much, how to …

Kids’ Best Financial Adviser: Grandma or Grandpa

Grandparents apparently hold more sway over their grandchildren’s saving habits than they know. According to a survey by TIAA-CREF, a New York-based financial services firm, most young adults (73 percent) say their grandparents do influence their money decisions and more than half call their elders excellent savers. Yet few grandparents capitalize on their standing: Only 8 percent say they’ve had or are likely to have a conversation with their grandchildren about money. >> Sign up for the AARP Money newsletter Among …

Friday News: Financial Planning, and More Calorie Talk

Washingtonpost.com hosted a live online chat with their personal finance columnist Michelle Singletary yesterday, and she discussed topics from budgeting to retirement planning to simply how to discuss money with a loved one. She even touted what a great resource AARP.org is for retirement planning tools. Check out the full transcript here to see what she had to say about a wide range of finance topics – she’s bound to have given advice on whatever you’re worried about financially. And …

Notable News for December 3

This headline from the Wall Street Journal caught my eye this morning: “What Should You Do With Your Money in 2010?” Wouldn’t it be nice if you could have a heart to heart with six different financial advisors and see what they had to say about investing next year? Since that is probably not feasible for most of us, a Dow Jones reporter did the hard work for us! Check out the article for answers from six different advisors on …