When I was a young, bright-eyed graduate student intent on reporting from a news bureau in Europe or Asia or The Middle East, I signed up for the program as a mentee, and was paired with a foreign correspondent who worked and lived in Italy.
Dear Mike, My father turns 70 this year. He's lived a fantastic, globe-trotting life as a journalist, but his freelancing gigs dried up about a decade ago and now he's living off Social Security and some meager savings with old medical bills to pay. He's very private about finances, so I'm not exactly sure what his situation is, but I am pretty sure he is right on the line of being able to support himself. He lives alone, and is friendly, but somewhat distant from our extended family. (I am his only child.)
I found your piece on NYC rents, and the exorbitant amounts we spend on them really interesting. It's an issue I fret about, too. What's a good rule of thumb? Should we spend 1/4 of our income? One-third? — David
So, my question is: How much do people usually keep in savings? My husband and I are both in our late 20's, and have lived in NYC for years. We've always assumed most people here—especially renters—don't usually have substantial savings accounts (or worse, are paycheck-to-paycheck). Are we wrong? Or is our once-considered landlord being unfair? — J.M.
Do I need long term insurance coverage? Should I get a new plan once I have my finances in order? Also I've heard that some of them are semi-scams that don't cover much or have restrictions on what they will cover. At this point it kind of seems crazy to put so much money into something that I may not use for 40 years or more. But then on the other hand I guess I could get in a car accident and be paralyzed tomorrow? — S.L.
I’m a recent college graduate and have been working as a government contractor for the past two years. I have saved about $15,000, which I have mentally divided into thirds: travel/fun money, emergency money, and long-term savings money. I have about $4,000 in Stafford Loan debt leftover from college and no consumer debt.
Here's the thing about salary requirements: Some people require more money than other people, and that's why this is a common question that's asked by employers.
I'm pretty sure I read in one of your articles or comments that you didn't plan on being a homeowner one day. I was wondering about why that might be. My parents try to be pretty practical when it comes to money and I've heard them say things about how rent is basically throwing away money and its better to have that money go towards a mortgage. Obviously it makes sense to rent while we're young, but I was just curious why someone who is really into spending wisely wouldn't want to own a home. Maybe I'm missing something? — S.S.