Personal Finance - The Salt Lake Tribune http://www.sltrib.com/cat/PersonalFinance Stories from The Salt Lake Tribune &copy; 2014 The Associated Press, The Salt Lake Tribune. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. Learn more about our privacy policy: http://www.sltrib.com/pages/privacy. en-us webmaster@sltrib.com (Webmaster) Seniors share homes for cost saving, companionship http://www.sltrib.com/sltrib/money/58251256-79/allen-seniors-rosenfeld-agencies.html.csp NEW YORK • It’s not exactly “The Golden Girls,” but for Marcia Rosenfeld, it’ll do. Rosenfeld is among thousands of aging Americans taking part in home-sharing programs around the country that allow seniors to stay in their homes and save money while getting some much-needed companionship. “It’s a wonderful arrangement,” said the white-haired Rosenfeld, who when asked her age will only say she’s a senior citizen. “The way the rents are these days, I couldn’t stay here without it.” She shares her... NEW YORK • It’s not exactly “The Golden Girls,” but for Marcia Rosenfeld, it’ll do. Rosenfeld is among thousands of aging Americans taking part in home-sharing programs around the country that allow seniors to stay in their homes and save money while getting some much-needed companionship. “It’s a wonderful arrangement,” said the white-haired Rosenfeld, who when asked her age will only say she’s a senior citizen. “The way the rents are these days, I couldn’t stay here without it.” She shares her... <img src="http://mngislctrib.112.2O7.net/b/ss/mngislctrib/1/H.17--NS/0?&pageName=RSS" height="1" width="1" border="0" alt=""/> 58251256@www.sltrib.com Wed, 27 Aug 2014 16:15:01 MDT U.S. credit card late payments down in quarter http://www.sltrib.com/sltrib/money/58338456-79/credit-percent-card-quarter.html.csp Los Angeles • Americans are doing a better job of making timely credit card payments, even as many lenders increasingly extend credit to more people with less-than-stellar credit. The rate of U.S. credit card payments at least 90 days overdue fell to 1.16 percent in the April-June quarter — the lowest level in at least seven years, credit reporting agency TransUnion said Tuesday. The second-quarter credit card delinquency rate is down from 1.27 percent in the same period last year and 1.37 perce... Los Angeles • Americans are doing a better job of making timely credit card payments, even as many lenders increasingly extend credit to more people with less-than-stellar credit. The rate of U.S. credit card payments at least 90 days overdue fell to 1.16 percent in the April-June quarter — the lowest level in at least seven years, credit reporting agency TransUnion said Tuesday. The second-quarter credit card delinquency rate is down from 1.27 percent in the same period last year and 1.37 perce... 58338456@www.sltrib.com Tue, 26 Aug 2014 09:20:01 MDT Tax refunds may get hit due to health law credits http://www.sltrib.com/sltrib/money/58331202-79/tax-health-insurance-refund.html.csp Washington • Taxes? Who wants to think about taxes around Labor Day? But if you count on your tax refund and you’re one of the millions getting tax credits to help pay health insurance premiums under President Barack Obama’s law, it’s not too early. Here’s why: If your income for 2014 is going to be higher than you estimated when you applied for health insurance, then complex connections between the health law and taxes can reduce or even eliminate your tax refund next year. Maybe you’re collect... Washington • Taxes? Who wants to think about taxes around Labor Day? But if you count on your tax refund and you’re one of the millions getting tax credits to help pay health insurance premiums under President Barack Obama’s law, it’s not too early. Here’s why: If your income for 2014 is going to be higher than you estimated when you applied for health insurance, then complex connections between the health law and taxes can reduce or even eliminate your tax refund next year. Maybe you’re collect... 58331202@www.sltrib.com Mon, 25 Aug 2014 07:41:04 MDT Investing: How to fit a wind farm into your portfolio http://www.sltrib.com/sltrib/money/58250963-79/power-energy-projects-companies.html.csp You can now fit a wind or solar farm into your portfolio, even if your portfolio isn’t exactly vast. Energy companies are wrapping renewable energy projects and other power-related assets that generate steady cash into new companies they hope attract investors hunting for dividends. In an unfortunate victory for corporate speak, they are called yieldcos. They’re the electric power industry’s answer to real estate investment trusts, which distribute rental income to investors, and master limited... You can now fit a wind or solar farm into your portfolio, even if your portfolio isn’t exactly vast. Energy companies are wrapping renewable energy projects and other power-related assets that generate steady cash into new companies they hope attract investors hunting for dividends. In an unfortunate victory for corporate speak, they are called yieldcos. They’re the electric power industry’s answer to real estate investment trusts, which distribute rental income to investors, and master limited... 58250963@www.sltrib.com Fri, 22 Aug 2014 14:20:01 MDT Family’s summer travel teaches value of chores http://www.sltrib.com/sltrib/money/58279370-79/murset-chores-family-doing.html.csp Pace, Fla. • The Murset children spent their summer doing chores — just not at their own home. Financial planner Gregg Murset and his wife Kami loaded their six children, ages 7 to 16, in the Phoenix family’s RV to do volunteer work at the homes of families in need across the country. Murset said he wanted to combat the mind-set of the “entitled generation” one chore at a time. “I think they initially thought, ‘Dad, the chore thing has gone too far, you know, you are crazy.’ But as we started re... Pace, Fla. • The Murset children spent their summer doing chores — just not at their own home. Financial planner Gregg Murset and his wife Kami loaded their six children, ages 7 to 16, in the Phoenix family’s RV to do volunteer work at the homes of families in need across the country. Murset said he wanted to combat the mind-set of the “entitled generation” one chore at a time. “I think they initially thought, ‘Dad, the chore thing has gone too far, you know, you are crazy.’ But as we started re... 58279370@www.sltrib.com Fri, 22 Aug 2014 14:20:01 MDT Health care at college: Can your teen manage? http://www.sltrib.com/sltrib/money/58301368-79/health-care-dehn-campus.html.csp Lauren Davies had a desperate thought while stuck in traffic as she frantically drove upstate to reach her 19-year-old. “If I drive on the shoulder and a cop stops me, will he believe me when I tell him I think my daughter’s dying in a hospital?” The sophomore had fallen so ill from an out-of-control sinus infection that she was in a feverish stupor, unable to open her mouth, her face so swollen that a membrane was pressing on her brain after two rounds of antibiotics that didn’t work. Davies, ... Lauren Davies had a desperate thought while stuck in traffic as she frantically drove upstate to reach her 19-year-old. “If I drive on the shoulder and a cop stops me, will he believe me when I tell him I think my daughter’s dying in a hospital?” The sophomore had fallen so ill from an out-of-control sinus infection that she was in a feverish stupor, unable to open her mouth, her face so swollen that a membrane was pressing on her brain after two rounds of antibiotics that didn’t work. Davies, ... 58301368@www.sltrib.com Fri, 22 Aug 2014 14:20:01 MDT Julie Jason: Don’t be afraid to ask embarrassing questions http://www.sltrib.com/sltrib/money/58318881-79/paul-annuity-broker-jason.html.csp The backdrop for last week’s column on how to read a prospectus is a story a reader brought to me a decade ago. The lessons are still valuable to this day. On a visit with a family friend who was a broker, “Paul” invested his entire inheritance of $800,000 in a variable annuity. After a few months, he changed his mind. He wanted his money back. That’s when Paul learned that he would receive the value of his annuity, less about $56,000. That came as a surprise. His broker explained that the red... The backdrop for last week’s column on how to read a prospectus is a story a reader brought to me a decade ago. The lessons are still valuable to this day. On a visit with a family friend who was a broker, “Paul” invested his entire inheritance of $800,000 in a variable annuity. After a few months, he changed his mind. He wanted his money back. That’s when Paul learned that he would receive the value of his annuity, less about $56,000. That came as a surprise. His broker explained that the red... 58318881@www.sltrib.com Fri, 22 Aug 2014 14:20:01 MDT Women small business owners struggle to get loans http://www.sltrib.com/sltrib/money/58317718-79/women-says-business-loan.html.csp New York • Women are a growing force in the business world, but if they own a company, they may still struggle to get a loan from a bank. Carrie Charlick and Marcia Cubitt have $4 million in sales but have been rejected for $500,000 credit lines since 2012. Their 11-year-old company, Essential Body Wear, sells women’s underwear at parties at customers’ homes. That’s a problem for bankers, Charlick says. Because the business, based in the Detroit suburb of Commerce Township, doesn’t have a tradit... New York • Women are a growing force in the business world, but if they own a company, they may still struggle to get a loan from a bank. Carrie Charlick and Marcia Cubitt have $4 million in sales but have been rejected for $500,000 credit lines since 2012. Their 11-year-old company, Essential Body Wear, sells women’s underwear at parties at customers’ homes. That’s a problem for bankers, Charlick says. Because the business, based in the Detroit suburb of Commerce Township, doesn’t have a tradit... 58317718@www.sltrib.com Fri, 22 Aug 2014 12:33:01 MDT 5 tips for sensible back-to-school spending http://www.sltrib.com/sltrib/money/58301181-79/sales-tax-items-stores.html.csp Students may not be thrilled about their summer break drawing to a close, but retailers couldn’t be happier. That’s because back-to-school shopping traditionally brings in a windfall that’s second only to the December holiday season. The average family with kids in kindergarten through 12th grade will spend $669.28 on clothes, electronics and other school-related needs this back-to-school season, according to a survey by the National Retail Federation. That amounts to a 5 percent increase from l... Students may not be thrilled about their summer break drawing to a close, but retailers couldn’t be happier. That’s because back-to-school shopping traditionally brings in a windfall that’s second only to the December holiday season. The average family with kids in kindergarten through 12th grade will spend $669.28 on clothes, electronics and other school-related needs this back-to-school season, according to a survey by the National Retail Federation. That amounts to a 5 percent increase from l... 58301181@www.sltrib.com Fri, 15 Aug 2014 14:44:00 MDT Julie Jason: Reasons and methods for reading a prospectus http://www.sltrib.com/sltrib/money/58296835-79/investment-prospectus-jason-guarantees.html.csp Paul knew that he should have read the prospectus for the “risk-free” stock-market investment before he bought it. But the prospect of reading 130 pages of small print stopped him cold. Instead, he threw away the prospectus and relied on his financial adviser to explain the offering to him. If you are one of the many people who are averse to reading prospectuses, let me explain something: Prospectuses are like kung fu. They teach you self-defense. Having written prospectuses as a young Wall S... Paul knew that he should have read the prospectus for the “risk-free” stock-market investment before he bought it. But the prospect of reading 130 pages of small print stopped him cold. Instead, he threw away the prospectus and relied on his financial adviser to explain the offering to him. If you are one of the many people who are averse to reading prospectuses, let me explain something: Prospectuses are like kung fu. They teach you self-defense. Having written prospectuses as a young Wall S... 58296835@www.sltrib.com Fri, 15 Aug 2014 14:43:02 MDT Julie Jason: Many variables can affect an executor’s fee http://www.sltrib.com/sltrib/money/58272206-79/executor-fee-estate-bank.html.csp Should you discuss executor fees with your lawyer? Two weeks ago, I wrote about how executors are paid in states that have a fee schedule set by law, such as New York. Other states, such as Connecticut, don’t have a set fee schedule. Statutory fees and fee schedules set by banks have the advantage of being definitive and certain, explained attorney John Olivieri of White and Case of New York. “It is what it is,” he explained. “But, like anything that is definite, the fee is arbitrary.” Two... Should you discuss executor fees with your lawyer? Two weeks ago, I wrote about how executors are paid in states that have a fee schedule set by law, such as New York. Other states, such as Connecticut, don’t have a set fee schedule. Statutory fees and fee schedules set by banks have the advantage of being definitive and certain, explained attorney John Olivieri of White and Case of New York. “It is what it is,” he explained. “But, like anything that is definite, the fee is arbitrary.” Two... 58272206@www.sltrib.com Fri, 08 Aug 2014 14:56:02 MDT 5 money-saving tips for exchanging currency http://www.sltrib.com/sltrib/money/58237928-79/exchange-card-credit-currency.html.csp Headed overseas for summer vacation? It’s easy to get hit with extra fees and expensive exchange rates when switching currencies. Some currency exchange tables in airports and tourist areas offer bad rates, taking more of your money. And some credit cards and banks can add fees when you buy something with your card. Your best bet is to bring a credit card that doesn’t charge currency exchange fees and some cash for backup. Most purchases should be done on the credit card, says James Gambaccini,... Headed overseas for summer vacation? It’s easy to get hit with extra fees and expensive exchange rates when switching currencies. Some currency exchange tables in airports and tourist areas offer bad rates, taking more of your money. And some credit cards and banks can add fees when you buy something with your card. Your best bet is to bring a credit card that doesn’t charge currency exchange fees and some cash for backup. Most purchases should be done on the credit card, says James Gambaccini,... 58237928@www.sltrib.com Fri, 01 Aug 2014 14:50:02 MDT Julie Jason: Important new rules affecting money market fund investors http://www.sltrib.com/sltrib/money/58237802-79/fund-funds-percent-market.html.csp On July 24, 2014, the Securities and Exchange Commission released a set of rules that will change how money market mutual funds work. The new rules came about after a detailed study and review of more than 1,400 comments from the public. All 869 pages can be found at www.sec.gov/rules/final/2014/33-9616.pdf — or you can email me for a copy. I also will post the release on my website (www.juliejason.com). This is a major development that will affect most investors. As Mary Jo White, SEC chairwom... On July 24, 2014, the Securities and Exchange Commission released a set of rules that will change how money market mutual funds work. The new rules came about after a detailed study and review of more than 1,400 comments from the public. All 869 pages can be found at www.sec.gov/rules/final/2014/33-9616.pdf — or you can email me for a copy. I also will post the release on my website (www.juliejason.com). This is a major development that will affect most investors. As Mary Jo White, SEC chairwom... 58237802@www.sltrib.com Fri, 01 Aug 2014 14:50:01 MDT