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Money Psychology

Protect Yourself and Your IRA From Scams

How safe is your IRA? Not from economic ups and downs, but from your own vulnerability to scammers? While financial scams are often perceived as targeting senior citizens, younger generations are equally susceptible. Two examples of people who suffered serious...

Betting on Political Races: My Penny-Ante Hobby May Soon Be Banned

Four years ago I confessed in a column that I was guilty of day trading. Except that, as a political junkie, I trade in election outcomes, not stocks. I have no interest in betting on anything else, including sports and equity markets. My speculative adventures have...

How Do You Protect Your Finances From Yourself As You Age?

One of the saddest experiences for a financial advisor is watching an elderly client decline and, despite our best efforts, being unable to protect them from themselves. I wrote in 2007 about an elderly client who fired me when she was failing cognitively but still...

Save Money With An Annual Subscription Audit

How much do you pay every month for invisible stuff you don’t use? I’m referring to subscriptions or memberships for things like music streaming, movies, software, magazines, gyms, shopping clubs, and other services or online resources you may have forgotten about....

Yes, It’s Okay To Take the Senior Discount

In my forties I delighted in buying AARP memberships as 50th birthday gifts for my friends to remind them they were now officially “over the hill.” You can imagine their delight in doing the same for me when I turned 50. I remember the disbelief in realizing that I...