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We provide “ASK THE EXPERT” answers as a

FREE SERVICE to MAKING BREAD MAGAZINE subscribers.

 

       Post your money-management or consumer-oriented questions here, and we’ll find a financial counselor, certified public accountant, banker or other expert to provide the best answer. (Answers will be e-mailed to you and may be posted on this site or in the magazine. No names or addresses will be used.)

 

 

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Responses

 

Should a Newly Divorced Mom Use Her Savings to Start a Business?

 

I’m a member of a new women’s investment club. What are some guidelines that we can use for choosing a stock to invest in?

 

Is it a good idea to pay off your mortgage when you become a widow?

 

I’m collecting disability because of a bad back. Do I have to pay taxes on that money? Friends have told me yes … and no.

 

How does Medicaid work, and is it possible to transfer assets to become eligible for nursing-home coverage?

 

I need to have my business bonded by an insurance agent. I released all my business information to them; now they want me to conduct a personal finance audit of assets and debits. I can't find the correct form to use. Can you help me?

 

Can my husband’s bad credit affect my credit score? And will I be responsible for his debt, if he can’t pay it off?

 

Neither my husband nor I are covered by life insurance at work. I’d like to buy some, so that my kids will have some security and money for college, in case anything should happen to us. Where do I begin? 

 

I've been laid off for more than a year now, and I’ve been able to keep up with my bills, but the  money is running out. Can I change my mortgage to a 30-year and pull out some of my equity so that I can go back to school to get a teaching degree? 

 

I am 18 and I have no credit. What’s the best way for me to establish my own credit history?

 

How Does a CD Work?

 

What happens when you go to a credit counselor?

 

With all the doom and gloom about the economy and on Wall Street, is this a good time to buy stocks?

 

"I have recently won $30,000. I am torn between putting the money in my boys’ 529 college  fund or paying off our house. Should I split it—or do my house first?  All our other debt is under control."

 

With interest rates so low right now, am I missing a good bet if I don’t refinance my 30-year mortgage,  which carries an 8.5 percent rate?

 

My Father Requires Long-term Care. Is There a Way to Preserve His Assets—and Still Get Him the Care That He Needs?

 

“I'm currently unemployed (24 years old and single), but I will be moving from Minnesota to Washington, D.C. in a month for a new job. I'm worried that I don't have enough money to pay a rental deposit and other moving costs. What should I do?”

 

How Do I Calculate the Number of Exemptions I Should Claim So That I Don’t Have to Pay Taxes at the End of the Year?

 

Whom Should I Select as an Executor for My Estate?

 

I’m an 18-Year-Old New Jersey High School Student with a Part-time Job That Doesn’t Pay Very Well, and I Have No Money Saved for College Yet. What Can I Do?

 

I’m 50 Years Old, Divorced and in Love with a Wonderful Man. Does It Make Financial Sense to Marry Again?

 

What Tax and Investment Issues Should I Consider for a Large Inheritance?

 

How Do I Make a Good Impression at My Next Social Business Function?

 

Where Can I Find Financial Aid to Help Me Pay for My Kids’ College?

 

I Don’t Have the Money to Pay My Taxes. What Do I Do Now?

 

Will Uncle Sam Give Me Money to Start My Business?

 

Help! How Do I Get Out of the Hole I’m In?

 

Help! How Can I Reduce My Holiday Spending?

 

How Will I Ever Save Enough for All My Long-Term Goals?

 

My Bonus Is Bigger Than I Expected! What Do I Do Now?

 

NYSE vs. NASDAQ? 

 

What’s the Best Way to Invest $1000?

 

Can This Divorcee’s Finances Be Saved?

 

What’s the Best Way to Spend Our Tax Rebate?

 

 

MAKING  BREAD

   QUICK FACT

 ___________

 

ALL IN THE FAMILY

 

          Only two women made it into the top 10 of the “Forbes Four Hundred” wealthiest Americans: Helen R. Walton and Alice L. Walton, the widow and daughter, respectively, of deceased Wal-Mart  founder Sam Walton, each with a net worth of $17.5 million of inherited wealth.

___________

 

PUTTING THINGS

IN PERSPECTIVE

 

            “Half the world's people live on less than $2 a day, a million people live on less than a dollar a day, including people in three of the five nations I visited on my recent trip to Africa.

                 “A billion people are hungry every night, a billion and a half people never have any clean water, 130 million kids never go to school, 10 million children die every year of preventable childhood diseases, even though overall life expectancy is up and infant mortality down, even in the developing world.”

 

From a speech delivered by former President Bill Clinton at the Labor Party Conference in Blackpool, England, on October 2, 2002.

___________

 

      For a common-sense approach to the basics of personal finance, from insurance to mortgages and mutual funds, visit www.BlueCollarDollar.com, whose editor, Paul Petillo, writes the syndicated finance column “The Blue Money Report” (http://blue-money.com) every week. Check it out; his idiosyncratic take on the world of finance will get you thinking about the political and economic factors that affect our daily lives.

___________

 

 

Thank You, America

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Last Updated 12/24/2006 00:20