Financial First Aid

"In times of flux, spread your cash among CDs with due dates six months apart. That way some of your money will soon be available to reinvest if rates rise, and some will be locked into what may prove to be superior yields if rates fall."

"The three Cs of credit: capacity, character, and collateral."

"Becoming debt-free will take self-discipline and personal sacrifice. If you can kick the debt habit, though, you will immensely improve your financial health."

"Personal bankruptcies are a time-honored way for overextended debtors to wipe the slate clean and start their economic lives anew."

"Following a few simple rules can make your home-buying experience an enjoyable and profitable adventure."

"While the situation is daunting, buyers are not powerless."

"Reverse mortgages let elderly homeowners borrow against their home equity with the guarantee that the money does not have to be paid back until after they die or move out of the house."

"To help you minimize the damage, we will discuss some escape routes and weigh their pros and cons."

"What is your recourse when you want or need insurance and you are between "the rock and a hard place"?"

"Most people need more life insurance than they have and can pay less than they do now to get it."

"Affordable heath insurance is hard to come by. The problem, of course, is that being without a minimum amount of health coverage can ruin you financially for life, if you or your loved ones suffer serious injury or disease."

"There are about a thousand companies, predominantly banks and utilities, offering direct-purchase plans."

"Once you know your investment goals, you can begin to review mutual funds with similar aims."

"There are a wealth of mutual funds available that produce tax-exempt interest. These include funds that invest in U.S. government securities and state and local bonds."

"How you react to the auditor can set the tone for the whole audit."

"If you are contemplating early retirement, evaluate the advantages and disadvantages. Try living for one month on your planned retirement income."

"More workers over 40 are now covered by defined-contribution plans, the most common of which are 401(k) plans, than by traditional pension plans. That means your retirement destiny is in your own hands."

"The IRS has decreed that retirement age begins precisely at 59 1/2. Only then can you get at the savings built up in your tax-deferred retirement accounts, such as your 401(k), 403(b), IRA, or Keogh."

"We can look at 10 estate planning traps with the potential to do the most damage to your best laid (or delayed) plans."