The housing bubble that imploded spectacularly in 2008, taking a big chunk of the U.S. economy with it, has a second wave waiting to strike in the form home equity lines of credit (HELOCs). Having learned from the lesson that preventing a disaster rather than recovering from one might, in fact, be a better way to go, lenders — at the urging of regulators — are now working proactively with borrowers to stave off potential doom before it happens. [More]
Conventional wisdom advises you to keep your money in indexed investments and rest assured that market forces will grow your nest egg with double-digit returns, allowing you to coast into retirement with ease. But the recession and current volatile stock market can make you re-think your retirement strategy. [More]
A new Bankrate national poll says that 57% of Americans don’t have wills, even though 76% of respondents said they considered it an important thing to have. This writer doesn’t have a will, but then again, I don’t have kids, and my “heirlooms” are all made by consumer electronic companies. What about people with offspring? It’s even worse: 69% of parents with kids under the age of 18 don’t have wills, even though 88% of them say it’s important.