Q.   My company has stopped matching my 401k contributions. Should I stop contributing to the plan?

A.   Keep up those contributions! You are not taxed on the money going into the plan.  In effect, the government is making it easier for you to save by not taxing you on your contributions.


Q.   You say that I will save on taxes. That’s all well and good, but I’m not making any money.  Isn’t that just throwing good money after bad?

A.   All 401ks and similar plans offer a variety of investment choices.  Your best bet is to have patience, and a broadly diversified portfolio.    Check  out the plan sponsors website and review your choices.


Q.   I understand that there is a new credit card law. Will it lower my interest rate? 
            
A.   No.  The new law will insure greater disclosure and it will eliminate some of the unfair fees and penalties that companies charge. The law still permits credit card companies to charge the maximum amount of interest allowed by state law.


Q.   I own a small business, and have recently re-married after being divorced.  I have two minor children and share custody with my former spouse.  Should I update my will?

A.   Absolutely.  Without a will you risk splitting business assets between your new spouse and your minor children.  A good estate planning attorney will help you to set up a plan that protects those who you care about.


Q.   We are trying to save for our children’s college education. What is the best way?

A.   There are a variety of programs, and each has its own set of contribution limits, features and benefits.  A very popular way to save for college is the “529 Plan” offered by different companies.  In the right circumstances it provides tax-free growth, as well as a variety of investment choices.