Money Talk: Time for Son to Move His IRA
Question: My son has an IRA at his credit union. He puts in small amounts when he can. Recently the credit union lowered the interest rate and started charging a $25 yearly maintenance fee, which now is taking all the interest back. Is this legal? Answer: Yes. It’s also a good reason to move the account elsewhere. Your son’s retirement account was shrinking in real terms even before the fee ate up all his interest. Even though rates...
Cellphones for Children May Not Be a Wise Choice
My colleague Michelle Quinn got her son an iPhone when he entered middle school last year. My son wasn’t so lucky. Not only did he not get a smartphone when he entered middle school, but I don’t plan to get him even a simple cellphone anytime soon. Michelle’s story about what happened with her son’s use of his phone has served as a cautionary tale. That, plus some research I’ve done on my own, has influenced my thinking. My take-away...
Japanese Tech Firm Offers Childlike Robot With ‘Heart’
Urayasu, Japan — Technology company Softbank’s Pepper robot went on sale in Japan on Saturday, equipped with a “heart” designed to not only recognize human emotions but react with simulations of anger, joy and irritation. The robot, which has no legs and moves on wheels, was shown to reporters and guests at a Tokyo area theater Thursday. It has a hairless head and moving arms and went through a year of software development after first...
Money Talk: Business Credit Cards Lack Protections
Question: I have a business credit card that offers cash rebates. It has an interest rate of 15.24 percent on purchases and 25.24 percent on cash advances. I carry balances in each category. Each month the issuer posts my entire payment to my lower-interest purchases balance and nothing to my cash advance balance. I telephoned to complain but I was told that they will not post any payments to my cash advance balance until my purchases...
