L.A. Times - Personal Finance

Market bulls take a rough ride

Sun, 12 Jul 2009 00:00:00 -0700

Despite the sharp rebound in share prices, wary investors remain fearful about the economy.

Stock mutual funds just racked up their biggest quarterly advance in six years.

'Cash for clunkers' program has its roadblocks

Sun, 12 Jul 2009 00:00:00 -0700

Certain requirements must be met before you can get a voucher for trading in your old car for a new one. If you qualify, determine whether your gas guzzler is worth more than the government rebate.

If you want to trade in your junker for a new vehicle under the federal government's "cash for clunkers" program, you'll have to act fast. The program expires Nov. 1 -- or when it runs out of money, whichever comes first -- and qualifying for the vouchers isn't as simple as you might think.

Bond mutual funds soared on hope

Sun, 12 Jul 2009 00:00:00 -0700

Returns skyrocketed in many categories -- but not U.S. government bonds -- as investors felt braver in the second quarter and dumped low-yield Treasuries.

As long as you stayed away from long-term Treasury bonds, chances are you made good money in bond mutual funds in the second quarter.

Many underwater homeowners are deliberately walking away from mortgages

Sun, 12 Jul 2009 00:00:00 -0700

A study finds that 26% of the defaults across the country are calculated economic decisions to bail out of loans by borrowers who could afford to make the monthly payments.

Would you, under any circumstances, default on your home mortgage, even if you could afford to make the monthly payments?

Critics target recipients of six-figure public pensions

Sun, 12 Jul 2009 00:00:00 -0700

Organization posts the names and incomes of 5,100 retirees in California who receive annual pensions of $100,000 or more. A judge denied pensioners' request to block publication of such information.

Some Californians, angry that taxes have just gone up, IOUs are being issued and the state may be on its way over a cliff, find few things more infuriating than a big benefits package enjoyed by a government worker.

California debt attracts investors again

Sat, 11 Jul 2009 00:00:00 -0700

Increased demand for the municipal bonds might further delay a state budget, some analysts worry.

Don't tell Sacramento, but the state's debt is attracting buyers again.

Retailers report weak June sales

Fri, 10 Jul 2009 00:00:00 -0700

Hardly any sector is exempt as discounters, department stores and apparel chains report steep declines and fail to meet Wall Street expectations.

Lingering worries about the economy and unemployment put summer shopping sprees on hold last month, leading to worse-than-expected sales declines at many of the nation's retailers and raising fears about the back-to-school season ahead.

Rates drop for 30-year mortgages

Fri, 10 Jul 2009 00:00:00 -0700

REAL ESTATE

In fundamental shift, consumers are saving rather than spending

Thu, 9 Jul 2009 00:00:00 -0700

The belt-tightening is almost certain to have a negative effect on the U.S. economy, in which about 70% of gross domestic product comes from personal consumption.

The continuing decline in consumers' use of charge cards and other forms of credit reflects an underlying weakness in the U.S. economy that most of the government's recovery plans fail to attack head-on. And it suggests a fundamental shift in the way Americans save and spend that is likely to act as a drag on the economy for at least several years.

Minorities lag behind whites in retirement savings

Thu, 9 Jul 2009 00:00:00 -0700

Blacks and Latinos accumulate less in their 401(k) plans than whites of similar income levels, a study finds. Besides saving too little, they tend to invest too conservatively.

Millions of Americans aren't saving enough for retirement, but African American and Latino investors, on average, are further behind than whites and are more likely to be a greater burden to their families because they save too little and invest too conservatively, new research has found.