Motoring Q&A: Is Nitrogen Safe in Gasoline?
Q: The other day I stopped at a Shell station and found their higher-octane gas contained nitrogen. I believe that information posted about the gas said nitrogen was an additive. All of the concerns about ethanol levels and what is safe for which cars caused me to wonder about nitrogen. When I was a kid my friends would add nitrous oxide to their hot rods to get extreme performance out of the engines. Blown engines weren’t uncommon....
Is It Better to Save by the Dollar or by a Percentage?
When contributing to your employer-sponsored plan, you can choose to defer your income by a dollar or a percentage amount. The smart thing to do is to opt for whichever makes you save more. An automatic deduction from your paycheck is an effective way to save for retirement regularly. When initially enrolling in a 401(k) or other plan, you elect how much, in dollar or percentage terms, you want to contribute each pay period....
Money Talk: Tips for Finding a Financial Adviser
Question: We recently inherited some money. We’ve never had much. We want to invest our inheritance for our kids’ college education. We asked around to find investment firms that people have had a good experience with. But how do we know they are honest and make sound investment decisions? How do we know if the rates they are charging are fair and reasonable? For example, one charges a percentage of the value of the account. How do I...
Money Talk: Social Security as Longevity Insurance
Question: My question is on when to take Social Security. My financial adviser recommends that I file for my benefit at age 66 but suspend the application so my benefit can continue to grow until it maxes out at age 70. At 66, I would receive $2,614 per month. At age 70 I would receive $3,451 per month. In those 48 months I would have received $125,472. I calculate that it would take me 12.49 years to make up the difference of $837 a...
