What the experts say
Home-builder freebies
Home-builders around the country are going to great lengths to convince buyers to, please, just buy their house, said George Mannes in Money. They’re offering everything from flat-screen televisions to landscaping to free trips. “If you think these offers smack of desperation, well, you’re right.” But don’t let your “lust” for freebies make you lose sight of what’s really important—getting the right house at the right price. Some builders are loath to lower prices in new developments because it “infuriates the buyer who paid full price” and automatically lowers the price for future sales. So flex your negotiating muscle first to trim dollars off the sale price. “If you can’t get a lower price, ask for something that is almost as good—money to cover the expenses you’ll incur buying the home,” such as closing costs and upfront points on a mortgage.
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An advisor by any name
Financial firms are dying to get their hands on the fat portfolios of aging baby boomers and retirees, said Rachel Sheedy in Kiplinger’s Retirement Report. “The so-called experts come with different names: financial advisor, wealth-services provider, investment consultant, and senior specialist, just to name a few.” But all of these titles essentially shake out into two categories—broker or registered investment advisor. Registered investment advisors are obligated to act in your best interest. Rather than earn a commission on trades, they earn a fee based on the assets they manage, giving them extra incentive to help you grow your assets. “There are many great brokers who really care about your investments. But brokers are also salespeople who charge for each trade.”
Who needs rental insurance?
Many travelers don’t know what to say when asked at the rental-car counter if they want extra insurance, said Gary Stoller in USA Today. According to a recent survey by the National Association of Insurance Commissioners, fully 42 percent were “either thoroughly confused or had only a rough idea” about what rental-car policies they ought to be paying for. The simple rule should be: Don’t buy insurance you don’t need. Your personal auto insurance or credit card, for instance, may provide some protection for theft or collision. Unfortunately, credit card policies can be “tricky,” and your auto policy “may not cover rentals on business trips and may limit coverage for long-term rentals.” One case in which you almost certainly want to pay extra for insurance is when renting a car overseas.
