On The Money: Should you freeze your credit? Plus, hybrid work tips
By Lauren Young
NEW YORK, Aug 30 (Reuters) - This was originally published in the Reuters On the Money newsletter, where I share U.S. personal finance tips and insights every other week.
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In my most recent newsletter, I shared tips for anyone considering a move abroad during their retirement years.
I also asked readers for their advice. I heard back from Jim Frey, who moved from Vancouver with his partner to Setubal, Portugal, in February.
Frey says the "Bible" for understanding all that it takes to retire in Portugal is this Facebook group. (Programming note: The administrators are on holiday but plan to resume moderation in September.)
When I asked Frey why he chose Portugal, he emailed a long list. Affordability is at the top, but some other reasons include healthcare, culture, food, safety as well as expat-friendly policies.
“Life is GRAND,” Frey says.
If you have not done it already, it is fun to fill out this Expatsi survey which suggests places to retire overseas. My list includes Switzerland, the Netherlands and Denmark.
SHOULD YOU FREEZE YOUR CREDIT AFTER THE LATEST DATA HACK?
Another day. Another data breach.
This time around, hackers may have gained access to the private information of millions of people from a background-check company called National Public Data.
And while the details are murky, your Social Security numbers may have been leaked in the breach.
My husband, who froze his credit several years ago, urged the rest of our family members to freeze our credit. When you freeze your credit with the major credit bureaus (Equifax, Experian and TransUnion), it makes it tough to establish new credit accounts in your name but helps prevent identity theft.
I’ve been dragging my feet because it seems like a royal pain, but after reading this, I think I will do it.
Have you frozen your credit? Let me know why or why not at onthemoney@thomsonreuters.com.
WHAT I’M READING AND WATCHING
US Supreme Court declines to revive Biden's student debt relief plan
Lego to replace oil in its bricks with pricier renewable plastic
The end of fabulous money market rates is near (New York Times)
Here’s an answer to what is probably the most-asked question in the financial-planning world (Marketwatch)
Hauntingly high demand for Halloween spookiness at US theme parks
VIDEO OF THE WEEK
Lower interest rates, possible upgrades to the U.S. energy grid and a voracious appetite for new energy amid a drive toward EVs, AI and sustainability add up to a compelling case for investors to look at utilities, according to Oppenheimer Asset Management’s John Stoltzfus. Watch here.
Want more personal finance news? Subscribe to On The Money here.
THE GREAT RATE WATCH
Is the U.S. Federal Reserve telling us that they're actually worried about the economy now?
Federal Reserve Chair Jerome Powell said last week that the “time has come” to begin lowering interest rates – a more dovish message than many investors believed they would hear at the central bank’s annual conference in Jackson Hole, Wyoming. That process will likely begin next month, with a cut of 25 basis points at the Fed’s monetary policy meeting on Sept. 17-18.
Fun fact: History shows that stocks tend to perform far better when rate cuts come against a background of resilient growth instead of during a sharp economic slowdown. Since 1970, the S&P 500 has climbed an average of 18% one year after the first rate cut in non-recessionary periods, according to Evercore ISI strategists. In recession periods, the index climbed an average of just 2% a year following the first cut.
Are you worried about the economy or do you think it's on the right track? Let me know your thoughts: onthemoney@thomsonreuters.com.
FOUR TIPS TO MAKE THE MOST OF HYBRID WORK ARRANGEMENTS
I know I am lucky to work for a company that offers hybrid work options. In fact, I am currently writing this newsletter from a breezy porch on the Jersey Shore.
It is nice to have flexibility – along with some extra family time and fresh air – for a change.
There also is new proof that hybrid work can be a positive force for employees as well as companies: A research paper co-authored by Stanford University economist Nicholas Bloom, recently published in the journal Nature.
The study – the largest of its kind, looking at the effect of work-from-home policies – finds that the benefits are multiple: Productivity is not harmed, promotions and career advancement are not affected, and employee retention improves significantly.
“There may have been a stigma about remote work pre-pandemic, but I don’t think there’s a stigma anymore,” Bloom says. “Many big companies now typically have employees coming into the office three days a week. Hybrid seems to be where it’s at.”
Of course, there are potential pitfalls to working from home part-time. Here are four tips to make the most of hybrid work arrangements.
A$K Lauren
Do you need to refinance your mortgage? Are you in the market for a new car? Send your money questions to onthemoney@thomsonreuters.com, and I'll tap my extensive source network and braintrust for expert advice.
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Reporting By Lauren Young; Editing by Mark Porter
면책조항: XM Group 회사는 체결 전용 서비스와 온라인 거래 플랫폼에 대한 접근을 제공하여, 개인이 웹사이트에서 또는 웹사이트를 통해 이용 가능한 콘텐츠를 보거나 사용할 수 있도록 허용합니다. 이에 대해 변경하거나 확장할 의도는 없습니다. 이러한 접근 및 사용에는 다음 사항이 항상 적용됩니다: (i) 이용 약관, (ii) 위험 경고, (iii) 완전 면책조항. 따라서, 이러한 콘텐츠는 일반적인 정보에 불과합니다. 특히, 온라인 거래 플랫폼의 콘텐츠는 금융 시장에서의 거래에 대한 권유나 제안이 아닙니다. 금융 시장에서의 거래는 자본에 상당한 위험을 수반합니다.
온라인 거래 플랫폼에 공개된 모든 자료는 교육/정보 목적으로만 제공되며, 금융, 투자세 또는 거래 조언 및 권고, 거래 가격 기록, 금융 상품 또는 원치 않는 금융 프로모션의 거래 제안 또는 권유를 포함하지 않으며, 포함해서도 안됩니다.
이 웹사이트에 포함된 모든 의견, 뉴스, 리서치, 분석, 가격, 기타 정보 또는 제3자 사이트에 대한 링크와 같이 XM이 준비하는 콘텐츠 뿐만 아니라, 제3자 콘텐츠는 일반 시장 논평으로서 "현재" 기준으로 제공되며, 투자 조언으로 여겨지지 않습니다. 모든 콘텐츠가 투자 리서치로 해석되는 경우, 투자 리서치의 독립성을 촉진하기 위해 고안된 법적 요건에 따라 콘텐츠가 의도되지 않았으며, 준비되지 않았다는 점을 인지하고 동의해야 합니다. 따라서, 관련 법률 및 규정에 따른 마케팅 커뮤니케이션이라고 간주됩니다. 여기에서 접근할 수 있는 앞서 언급한 정보에 대한 비독립 투자 리서치 및 위험 경고 알림을 읽고, 이해하시기 바랍니다.
