About Hank Coleman

Hank Coleman is a fan of everything personal finance. He's the creator of the popular site Money Q&A, as well as other financial sites. Hank is currently studying to become a CFP. His freelance writing work can be seen across a variety of top-notch publications in finance and investing.

Are Property Managers Worth Their Fees?

Ask yourself a few questions before deciding to hire a property manager. Whether you are an accidental landlord or if you planned to become a residential real estate investor, someone will have to manage your property. Who will find you new tenants when yours move out? Who will handle complains about leaky faucets in the middle of the night? Who will handle tenants who do not pay rent on time? You, the homeowner, could handle all of these things yourself, of … [Read more...]

Your Retirement Planning Assumptions Are Not Conservative Enough

We can't see into the future, but we can make wise decisions now. There are a lot of planning assumptions that enter into how we tackle retirement planning. Now that the trauma from the Great Recession is beginning to subside, we may need to look at how we are planning, saving, and investing for our retirement. Are we doing enough? Can we expect more of the same returns based on the market's historical average? Some experts think our retirement planning assumptions … [Read more...]

4 Great Ways to Invest in Yourself to Achieve Financial Independence This Independence Day

How are you pursuing your financial freedom? Independence Day is a great time to celebrate with friends and family and reflect on our many blessings. It is also the perfect time to pause and take look at our own lives. How can you take back control of your finances and invest in your financial independence? The holiday weekend may be the perfect time to take stock in your finances and career to help you gain a foothold. There are steps that you can take, in … [Read more...]

The Saving Squirrel and Other Ways of Teaching Young Children to Save Money

Dollar the Squirrel, Mascot of Chemical Bank How do you teach kids the value of money and encourage them to save? This noble task is something many parents struggle with. Maybe you do too? Typically, our kids are not learning more than how to identify and count coins and dollar bills in elementary school. So it is up to us as parents to step in to teach them how to save. The Secret to Your Success...Make Savings Fun Again! Talking with a child about saving … [Read more...]

Amazon Retail Arbitrage: How to Buy, Sell and Make Money

Have you ever been "showrooming" at a store, comparing prices at the brick and mortar location with Amazon's prices online? Have you ever found that your local store is actually cheaper than the online leader for once? Maybe you have found a great deal thanks to coupons or clearance sales that you just can't find online. Have you ever wished that you could take advantage of these price differences and maybe sell the item yourself on Amazon for the higher price? … [Read more...]

Staycation Ideas: Take the Best. Staycation. Ever.

Where will you "go" on your next staycation? Is money tight this summer? If a vacation is not in your family's budget this year, then perhaps you could consider taking a staycation instead. Staycations have become all the rage lately as more and more American families are trying to find ways to save money. With the economy still slowly picking itself up from the 2008-09 Great Recession and unemployment rates still hovering at higher than historic rates, staycations … [Read more...]

The Real Reason You Need Umbrella Insurance

Umbrella Insurance: Get it before you get blown away by a lawsuit. Did you know that simple things like owning a swimming pool, having teenage drivers and a family dog, owning residential rental estate, and even throwing parties in your home can make you susceptible to being sued? Even the type of car you drive or how likely you are to be Googled can help determine the probability of you becoming entangled in a lawsuit. I have to admit that being sued is one of … [Read more...]

The Five People Who Hold Your Bad Credit Against You

Who's been looking at your credit score? There are people in your life who have a bias against you and your poor credit. The mistakes that you have made with debt not only put blemishes on your credit report and lowers your credit score, but they let people in your life hold your bad credit over your head in some way. A bad credit score or report can have a much further reach than simply costing you a higher interest rate on a new loan. It can cost you the … [Read more...]

The Four Items You Really Need to Include in Your Estate Planning Checklist

There are four tools you need in your estate plan. Do you have a will? No? You are not alone. In fact, a RocketLawyer.com survey last year found that over 50% of Americans do not have a last will and testament. Even more troubling is the survey found that over 40% of Baby Boomers age 55 to 64 years-old do not have a will. This is the group that probably needs it more than any other. Many people think they simply do not have enough assets to bequeath to … [Read more...]

What Happens to Your Debt When You Die?

Will your debt haunt your family after you're in the grave? True or false: You assume your spouse's credit card debt after they die? FALSE! Many spouses are living in fear and worry that they will be saddled with the burden of additional debt when their loved one dies. Adult children are also finding themselves concerned about their parents' finances as well. The good news is that debt cannot be passed on after you die. Your loved one's problems are not … [Read more...]

The Sandwich Generation: Don’t Go Broke Caring for Elderly Parents

Editor's Note: Join me in welcoming Hank Coleman, new PT Money contributor and future certified financial planner. This week Hank is tackling the subject of caring for elderly parents. With Mother's Day just around the corner, we thought it was a good time to address what to do if/when Mom and/or Dad need(s) financial help. Will you be taking care of both a mom and daughter soon? More Americans are raising their own children and at the same time caring for their … [Read more...]

How to Freeze Your Child’s Credit Report to Prevent Child Identity Theft

According to a report by the research firm, Javelin Strategy & Research, 11.1 million adults were the victim of identity theft in 2009 in the United States, and the total annual amount lost to fraud was $54 billion. Children are often also the victim of identity theft. In fact, more than 70,000 complaints of child identity theft were received last year by the Federal Trade Commission, and the reports of incidents have more than doubled in the last three years … [Read more...]