Jennifer's Compass

Viewer questions: Good Morning Live on Friday

Once a month I answer viewer questions on the morning show. This month we had some interesting ones.

 

From Ann in Rehoboth:

We’re told to save 20% of our gross pay in our working years.  What percentage of our retirement income, whether pension or social security, should we put away for our future years in retirement? Or should we stop saving and just spend all our retirement income and enjoy life?

 

From Bruce in Scituate:

I have money in Fidelity Cash Reserves, spread over many different accounts -- IRAs, Roth IRAs, and regular brokerage accounts. They are over $100,000 each. Can I lose money? I read about CAPCO insurance with Fidelity, would this cover any losses?

 

From Nathan in Worcester:

Is buying savings bonds a good investment for retirement?

 

From Jack in Springfield:

I’m in sales and my employer has changed my territory and my sales goals. I’m concerned they’re trying to push me out of the company. Do I have any recourse against them or should I start looking for another job?

What do you do if you have a bad 401(k)?

Investing in a down market is depressing enough without the expenses and not-so-hot investment choices of a bad 401(k) plan to drag you down. Here are some tips on how to tell and what to do if your 401(k) plan leaves much to be desired.

Which housing option is best for your college student?

College housing costs are up, and (some) local housing prices are down. So would you be better off buying a place for your student or sticking with the dorm?

Getting credit started on the right foot

Two-thirds of college students have at least one credit card. Make sure your teen's credit habits -- and credit rating -- get started on the right foot with these easy tips. 

MA and CT get a sales tax holiday this month

The topic at 5:00 on News Day Live was the sales tax holiday coming up this weekend in MA and next week in CT. Not a bad way to save 5% in MA and 6% in CT if you're looking to stock up on a few things for Fall. MA's holiday covers personal items valued under $2,500. CT is picking up the tax tab for clothing and shoes valued at under $300. Don't get carried away though! The sales tax savings won't be worth it if all you're doing is adding to the balance on your credit card.

NECN might run an ad before the segment. Thanks for being patient.

Viewer Questions on NECN: REX Agreement, Roth 401(k) and home energy audits

We had some really great questions on NECN BusinessDay tonight -- including the REX Agreement way of taking equity out of your home, Roth IRA vs Roth 401(k) and where to find a company that will do a free home energy audit.

As always, NECN might run an ad before the segment starts. Thanks for your patience.