Getting Personal
Tess Vigeland and economics editor Chris Farrell answer listeners' pressing questions about debt settlement companies, the state of GM's pension funds, how closing a bank account affects FICO and much more.
Getting Personal (Marketplace)
More on America's Financial Crisis
Links
- Audio: Part 2
Each week on Marketplace Money, host Tess Vigeland looks at the week's major national and international stories that will impact the average listener's wallet. - National Foundation for Credit Counseling
Comments
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From Salt Lake City, UT, 06/08/2009
I'm afraid Chris may be wrong about closing bank accounts. The oldest credit line on my credit report is for my checking reserve line that the bank automatically set up for me. I even accidentally used it once between books and tuition (those fees were painful).
You need to check your personal credit report (annualcreditreport.com) to find your oldest credit lines before making decisions about closing accounts. You don't even have to close some of the credit accounts. Just do one of Dave's plasectomies and cut up the card.
From Asheville, NC, 06/07/2009
I am about to downsize by selling my house and moving to a little condo. I plan to make a large down payment but finance $100,000. I will have about $60,000 in cash left over. I'm 61 years old and can live pretty comfortably yet frugally on my income. I have enough retirement stashed away to feel relatively secure. I plan to put most of the extra cash in CDs or some type of savings account, but would like to take advantage of very low stock prices and make a killing when the stocks skyrocket. Can you guide me toward or away from any types of stock - maybe the auto industry, banks, or another industry that’s likely to rebound?
Thanks,
Ginny
From Minneapolis, MN, 06/06/2009
what are the advantages or disadvantages of buying preferred stock over common stock right now? and what do you think of investing in real estate stock - (such as URE) - - the concept of a reflection of buying up REIT's?
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