Monday's Personal Finance stories
- 7 mistakes to avoid in hiring an adviser
- Flex-spending accounts get a makeover
- Your 2011 Medicare: Time to compare options
- Stop home water leaks before they cost you
Failing to get a second opinion — that is, settling on the first adviser they meet — is just one of seven common mistakes people make when seeking to hire a trusted money manager.
Read Chuck Jaffe's story today for more on the mistakes to avoid when hiring a financial adviser, plus read his piece looking at what all those letters after that expert's name really mean. Also, read Kristen Gerencher's Health Matters blog for a look at the changes coming to your Medicare plan, and read Amy Hoak's column for tips to avoid water damage to your home.
I'm terrible about getting second opinions. It just seems so time-consuming. But sometimes, a little extra time is money well spent.
—Andrea Coombes , Personal Finance editor
I have given countless talks over the past 15 years to groups of people interested in hiring financial advisers or working better with the helpers they have, and I typically poll my audience to learn about their experiences.
Read more: 7 mistakes to avoid in hiring a financial adviser.
Say you're nearing retirement age, and you want to improve your portfolio to make sure it lasts a lifetime and helps meet your personal goal of putting the grandkids through college someday.
Read more: What a financial adviser's credentials mean to you.
Your financial adviser might be highly educated, with years of experience as an industry professional to justify the fees you're paying. Or, he might be an out-of-work bartender who's decided to call himself an "investment consultant" because he reads a financial news Web site every day.
Read more: Glossary of credentials for financial advisers.
It's soon going to be harder to have purchases of over-the-counter medicines reimbursed by your flexible-spending account.
Read more: Flex-spending accounts get a makeover.
If you or someone you love is one of the 47 million older and disabled Americans enrolled in the federal Medicare program, Nov. 15 marks the first day you can switch your health and drug coverage for next year.
Read more: Your 2011 Medicare coverage: Time to compare options.
Water damage is the second-most-common cause of damage in homes. Heed these tips to avoid the need for costly repairs.
Read more: Stop home water leaks before they really cost you.
There are some things you just don't want to hear from your mutual fund manager.
Read more: 8 things your fund manager shouldn't say.
Exchange-traded funds are making it easier for individuals to place sophisticated bets on precious metals, but there are concerns these buyers are hopping on the bandwagon late.
Read more: ETFs mint new bout of metals speculation.
U.S. lawmakers returned to Capitol Hill on Monday to debate expiring tax cuts and a budget for the government, as well as to decide on new leaders in the wake of the Republicans' retaking of the House of Representatives in the midterm elections.
Read more: Lame-duck Congress arrives to talk taxes.
Tech giants and media companies were more spendthrift than Wall Street was last year, according to a new Wall Street Journal study on CEO compensation.
Read more: Wall Street chiefs no longer top charts on pay.
A House committee probing corruption charges against veteran Democrat Charles Rangel agreed on Monday that the facts in the prosecution's case against him aren't in dispute, suggesting that the panel will conclude he broke House rules.
Read more: Ethics panel agrees to facts in Rangel case.
Conditions for New York area manufacturers deteriorated sharply in November, with a regional survey turning negative for the first time since July 2009.
Read more: Empire State factory survey turns negative.
U.S. retail sales grew sharply in October, marking the fourth straight monthly gain, as consumers flocked to auto showrooms and made more purchases online.
Read more: Retail sales in U.S. jump 1.2% in October.
Facebook Inc. launched a messaging service Monday for its 500 million members, a move that could make the social-networking site the largest Internet messaging provider and challenge rivals such as Google Inc. Yahoo Inc. and Microsoft Corp.
Read more: Facebook unveils new messaging service.
While the iPad currently rules the nascent market for tablet devices, a large swath of rival products is expected to benefit from booming demand for mobile-computing gadgets over the next four years.
Read more: Tablet growth expected to explode beyond iPad.
Comcast Corp. said Monday that it will unveil an application for Apple Inc.'s iPad that allows Comcast digital subscribers to watch movies and TV shows on the tablet device, starting next month.
Read more: Comcast rolls out TV app for iPad.