Many people depend on certificates of deposit (CDs) to provide extra income. Yet CD rates have been fairly low for a while. In recent months, in fact, one-year CDs were paying about 0.5 percent, two-year CDs topped out at around 1 percent, and five-year CDs paid in the 2 percent to 2.3 percent range. Those rates are scanty enough, but they can seem even lower in an economic environment marked by rising food and gas prices.

Before you consider alternatives, keep in mind that CDs still offer a key advantage: safety of principal. The Federal Deposit Insurance Corporation (FDIC) typically insures CDs up to $250,000. read more »

It’s Halloween time again, so you’ll probably be seeing a lot of ghosts, goblins, witches and werewolves. While you may find these sightings more amusing than fear-inducing, you don’t have to look far to find things that really are frightening — such as scary investment moves. read more »

Now that April is here, you might decide to spruce up your home, both inside and out. But you also may want to do a little “spring cleaning” to help keep your financial house in order.

What steps should you take to tidy up your financial situation? Actually, some of the moves are the same as those you’d use to reinvigorate your house and yard. Consider the following: read more »

An IRA is a great way to save money for retirement. But which IRA is right for you — “traditional” or Roth? As is often the case in the investment world, there’s no one “right answer” for everyone — but the more you know before making a choice, the better off you’ll be. read more »

If you own a small business, you’re always thinking about today. How can you get more customers today? Is your cash flow sufficient for today? What are your competitors doing today? However, you can’t forget about tomorrow. Specifically, you need to make sure you’re building sufficient financial resources to enjoy a comfortable retirement. To help you do just that, you need the right small-business retirement plan. read more »

If you follow the news — or even if you don’t — you’re probably aware that the country is debating the future of Social Security. However, this discussion, while important, may be obscuring another key issue: namely, that many people are finding their employer-sponsored retirement plans are falling short of providing the expected level of benefits. read more »

No business owner would argue against the importance of planning for the future. However, the reality is that with the daily demands of running a business, long-term goals are often put on the back burner. read more »

All our lives, we plan. Some of the things we plan, such as what to have for dinner or the route we’ll take to work, are so trivial they require little thought. Other things, such as a family vacation or purchasing a new home, require a great deal of thought. All day, every day, we plan. Yet, many of us fail to plan for one of the most important tasks of all — what will happen to our possessions once we’re gone. read more »

Are you retiring soon? Changing jobs? Leaving your company? If so, here’s one of the most important questions you’ll need to ask yourself: What should you do with your 401 or other tax-advantaged retirement plan?

You could, of course, cash out your 401 and take a lump sum distribution. After all, the money is yours, and it’s readily available. However, there are some big negatives to cashing out your 401. First, you’ll have to pay ordinary income taxes on the money, possibly including an immediate 20 percent withholding. Also if you’re under 55, you may have to pay a 10 percent penalty. read more »