Personal Finance – Worried about your bank? Move your money

Q. I am currently banking with a local bank. I am certain the Federal Deposit Insurance Corp. will take over that bank very soon. I have $200,000 in a personal account held jointly with my wife, as well as two business accounts for a limited liability company that have about $60,000 in each account.
Should I [...]

3 Ways Obama’s Saving Initiatives Will Affect Your Retirement

President Obama announced several new federal initiatives to promote retirement savings today. “I’ve heard from so many who’ve had to put off retirement, or come out of retirement, to make ends meet,” Obama said during his weekly radio address today. “And having too little in savings not only leaves people financially ill-prepared for retirement, but [...]

Time to Replace the 401(k)

We had taken a perfectly decent supplementary 401(k) savings plan and, without any real discussion, allowed it to become the sole source of most workers’ non-Social Security retirement income. The 401(k) was not designed for that role, and it has come up way short. The simplest proof: Even before the crash, the median household [...]

A Battle Plan for Home Refinancing

With mortgage rates holding below 5%, there has rarely been a better time to refinance your home. But with a one-two punch of tighter credit and falling prices roiling homeowners, the process has never been more difficult.
In the Sacramento, Calif., area, Michael McGee of Winchester McGee Financial estimates that one in four of his customers [...]

Your Cash: How Safe Is Safe?

As the financial system reels from one disaster after another, financial planners, estate planners and bank officials say they’ve been receiving calls from panicked savers concerned about the safety of their deposits.
The Federal Deposit Insurance Corp. guarantees bank deposits up to $100,000 per person, per insured institution. But what if you have a lot more [...]