Expert Voices

Paul B. Brown

Paul B. Brown
Money, Finance

Paul B. Brown is Third Age's personal finance expert. A former editor and writer for Business Week, Financial World, Forbes and Inc. Paul is the author (or co-author) of numerous best-sellers, including Grow Rich Slowly: The Merrill Lynch Guide to Retirement Planning and hosted a nationally syndicated personal finance radio show that was heard on 168 stations nationwide. Paul is a regular contributor to the New York Times where he created the What's Offline column for paper and still does the Off-the-Shelf column for the paper and writes Tool Kit for NewYorkTimes.com.

A Great Rule of Thumb

Posted February 02, 2009 7:41 AM

As I mentioned a while back, Frank Armstrong—a terrifically smart CPA—and I are working on a book that will be called Rescuing Your Retirement.

While talking the other day, Frank came up with this wonderful rule of thumb:

Read more…

See Also: investing, retirement, savings

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It's our fault: We elected them

Posted January 22, 2009 8:39 AM

Did you see this in today's Wall Street Journal?

"As President Barack Obama's $825 billion economic-recovery package began making its way through Capitol Hill, congressional budget analysts suggested a key plank of the plan may not provide as big a near-term lift for the economy as expected.

"The nonpartisan Congressional Budget Office projected less than half of the $355 billion that House Democrats want to spend on highways, bridges and other job-creating investments is likely to be used before the end of fiscal 2010. The CBO said the balance would likely be spent over the next several years, after the recession is projected to end." Read more…

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Q:

It doesn’t make me feel any better, but I discovered the other day that the $8,000 I owe in total on three different credit cards puts me in good company -- I am the typical American.  Any thoughts about how to reduce my debt?

Bill, White Plains, N.Y.

A:
When you find yourself in a hole, the first rule is this: Stop digging. And you can do that in four maybe-not-so-easy-but-absolutely-necessary ... Read More...

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Don't try to catch a falling knife

Posted January 21, 2009 7:57 AM

A confession.

I sometimes buy individual stocks. Not often. And never with very much money because I really do practice what I preach and believe in having a fully diversified portfolio. (Besides, I have three kids in college. There isn't a whole lot of money to spare.) But, I will from time to time I will buy a stock because I think I have spotted something that most people have missed.

So, how do I with my little investing hobby.? Not great.

My biggest failing is that I try to identify when I think the price of a good stock has hit bottom. Almost always, I buy too soon.

What triggered this thought was the price of Citibank. I thought about buying it when it fell to $10 a share. And again at $8. And I almost placed an order when it dipped below $4. Read more…

See Also: banks, investing, savings, Wall Street

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Do as I say?

Posted January 18, 2009 8:45 AM

Back when dinosaurs ruled the earth, I had a radio talk show where for three hours a day I answered financial questions about such things as the best way to pay for college, and what kind of mortgage to get.

Eventually, we arranged it so I could do the program out of my office at Financial World in New York—callers liked that because periodically they would hear police siren in the background—but at first I had to go into the studio.
The guy on before me, a charming fellow, did a similar show. He was a legend in the business, someone I grew up listening to.

One day, he was arrested for insider trading. Read more…

See Also: advice, financial advice, investing, irony

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A Quick Portfolio Quiz

Posted January 16, 2009 9:03 AM

Here is news that won't stop the presses: The Stock Market Meltdown of 2008 has devasted just about everyone's savings portfolio.

But in addition to dramatically reducing the amount of money you have, it may have shifted the percentage of money you have in various asset classes. (For example, the percentage of your holdings in bonds and cash are probably greater than they were, given how far stocks have fallen.) Read more…

See Also: Asset Allocation, investing, retirement planning

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Why customer service is good

Posted January 14, 2009 6:52 AM

Judging by the reaction I received to yesterday's blog, a lot of you have had your own Verizon customer service horror stories.

Here's a quick example of how not every company is clueless when it comes to taking care of their customers.

While on my just completed vacation, I took a two of kids over to Manatee County (Fl) Golf Course to hit a couple of buckets of balls. The kids were using my clubs and as fate would have it, Sam, the 21-year-old, somehow snapped off the head of my 3 wood.

The clubs were a Christmas present, and while it is more than possible the 3 wood was defective, my first thought (which I didn't share with Sam) is that he had probably hit the club against the ground and snapped it off. (Sam has only recently started playing golf.) Read more…

See Also: customer service, wisdom

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