Readers to the Rescue

Weigh in with your own advice for readers facing tough financial decisions or grappling with challenging situations involving money, manners, and ethics.

Friends come to me for advice regarding their  investments. I’m no CFP, but I have a good grasp of the basics and give well-researched recommendations. Is providing this advice a mistake?  –Peter from Fairfax Station, Va.

Readers to the Rescue

Weigh in with your own advice for readers facing tough financial decisions or grappling with challenging situations involving money, manners, and ethics.

By the time my son graduates from college, I’ll be nearing retirement. I’m willing to pay for his BA but feel like anything after that is his responsibility. Am I being selfish? –Harley from Birmingham, Ala

The economics of ditching your mortgage

For a recent story I did about underwater mortgages, I spoke with a lot of people who owe more on their mortgage than their homes are worth. Inevitably, these people would acknowledge the option of just walking away: giving up on paying the mortgage and leaving the house to foreclosure. Just as inevitably, they would quickly add, “I would never do that.”

There seem to be two camps on walking away. First, there are those who think it unethical and shameful ..read more

Readers to the Rescue

Weigh in with your own advice for readers facing tough financial decisions or grappling with challenging situations involving money, manners, and ethics.

When your children are making more than you are, is it okay to expect them to contribute to joint vacations, meals out, etc? –Sara Taylor

Readers to the Rescue

Weigh in with your own advice for readers facing tough financial decisions or grappling with challenging situations involving money, manners, and ethics.

Is there a good way to collect on a debt from a relative who hasn't paid up despite a written loan agreement? –D.R. Bishop

Readers to the Rescue

Weigh in with your own advice for readers facing tough financial decisions or grappling with challenging situations involving money, manners, and ethics.

Question: Is it ethical to check on your spouse’s credit card balances? –Michael

Readers to the Rescue

Weigh in with your own advice for readers facing tough financial decisions or grappling with challenging situations involving money, manners, and ethics.

Congress may regulate financial planning

For consumers seeking decent financial advice, Congress is making a step in the right direction. Whether it will reach that goal is another story.

As part of the financial-industry legislation making its way through Congress, Sen. Herb Kohl (D-Wisc.) last week proposed a measure that would establish an oversight board for financial-planning professionals. The hope is that people who call themselves financial planners will have to meet minimum standards in the areas of competency and ethics.

As things stand now, anyone can ..read more

Squandering a minor's trust fund

Question: When our sister died ten years ago, my brother became the trustee of her five-year-old daughter’s trust. Drew invested Mandy’s money in a business he was starting, and Mandy received stock in return. The business folded this year, and now the stock is worthless. Shouldn’t Drew repay our niece the money he lost? He says what happened is nobody’s fault.

Answer: That’s just the way the investment cookie crumbles, is it? Drew’s probably also thinking that if his company had ..read more