Here are three of the week's top pieces of financial advice, gathered from around the web:
Murky tech investments
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Remixing portfolio rules
"Years ago, managing your investment portfolio was pretty simple," said Jeff Reeves at USA Today. Invest 60 percent in stocks, 40 percent in bonds, and rebalance once a year. But more and more, financial advisers believe the old 60/40 formula isn't just outdated, "but downright dangerous." Historically low interest rates have pulverized bond yields, and Americans' lengthening life spans demand more robust performance to fund a decades-long retirement. Advisers "differ greatly on what the proper mix is," but some suggest broadening the definition of "bonds" to include other income-producing investments, like dividend-paying stocks. In general, having more exposure to stocks, even in your 50s and 60s, increasingly looks like a smart move.
Scrounging up a down payment
"Home prices are on the rise, making it harder for buyers to cobble together a 20 percent down payment," Kathryn Vasel said at CNN. In order to secure the average four-bedroom, two-bathroom home — today worth $302,632 — buyers need to pony up $60,526, and that's before closing costs. But there are options for homebuyers without enough savings in the bank. The FHA backs mortgages that require as little as 3.5 percent down for borrowers with good credit. The Department of Veterans Affairs guarantees loans for former service members, and the Department of Agriculture has a loan program to aid home ownership in rural areas. If you borrow from a retirement account, "use caution to avoid paying penalties."
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The pros and cons of noncompete agreementsThe Explainer The FTC wants to ban companies from binding their employees with noncompete agreements. Who would this benefit, and who would it hurt?
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What experts are saying about the economy's surprise contractionThe Explainer The sharpest opinions on the debate from around the web
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What the stock market knowsThe Explainer Publicly traded companies are going to wallop small businesses
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Can the government save small businesses?The Explainer Many are fighting for a fair share of the coronavirus rescue package
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How the oil crash could turn into a much bigger economic shockThe Explainer This could be a huge problem for the entire economy
