What is the best way to start investing—is it a 401(k)? Fantastic question, and, yes, the 401(k) is the best way to start investing more often than any other way. By far the biggest and most important investment goal is retirement—people need to replace nearly 100% of their working income when they retire, which is […]
What is the best way to start investing—is it a 401(k)? Fantastic question, and, yes, the 401(k) is the best way to start investing more often than any other way. By far the biggest and most important investment goal is retirement—people need to replace nearly 100% of their working income when they retire, which is […]
Great topic. We all basically know that a FICO score measures how creditworthy an individual is. The higher the score the better your credit—and the more likely you are to get loans and get better interest rates on those loans. Lenders—banks, credit card companies, mortgage lenders—lean heavily on it when they are deciding whether or […]
How can I improve my FICO score? What is a FICO score and what does it really measure? Great topic. We all basically know that a FICO score measures how creditworthy an individual is. The higher the score the better your credit—and the more likely you are to get loans and get better interest rates […]
A lot of people know that Ben Bernanke is the Chairman of the Federal Reserve, but what does that mean? What is his job and why is it so important? Here’s the sneaky truth—probably not all that many people really understand his job, and maybe we’re all afraid to admit it. But we shouldn’t be. […]
Here’s the sneaky truth—probably not all that many people really understand his job, and maybe we’re all afraid to admit it. But we shouldn’t be. It’s a complex if important job. Bernanke as Chairman leads the Federal Reserve, but what is the Federal Reserve? The technical answer is it is the central bank of the […]
IPO stands for Initial Public Offering. This means that a company sells ownership shares of the company to the public for the first time. It’s the first time people outside the company are able to buy a piece of the company. Companies sell stock or “go public” for a few reasons. In most cases, companies […]
Everybody was excited about Facebook joining the stock market. Why was there so much hype and why was this a big deal? IPO stands for Initial Public Offering. This means that a company sells ownership shares of the company to the public for the first time. It’s the first time people outside the company are […]
Today’s questions were submitted by Text Tom Club members in response to last week’s topic, tax filing and dependents. — Can two parents claim the same child for six months each? The key question here is: How many taxpayers can claim a given dependent child? The answer is: one. So a married couple can claim […]
Today’s questions from TJMS listeners address tax filing and dependents. — If you’re filing taxes with dependents, why not wait until April? Although we file taxes in April, we pay taxes year-round. Last year each dependent was worth a $3,700 exemption—and if you can claim a dependent, that could alter your paycheck withholding status. In […]
I’d like to make sure that my daughter doesn’t accumulate the same amount debt from attending college when she gets older that many people in my family have. Should I be investing in a 529 on her behalf? Erika – Chicago, Illinois In layman’s terms, 529 plans are simply investment accounts where your money can […]
There is absolutely no way that I will have all my stuff together in order to file on-time. What do I need to know in order to get an extension? And are extensions to extensions a possibility, just in case? Wayne— Las Vegas, NV I think this question is fascinating because we may have found […]
