Myth: You don't have to start saving for retirement until age 40.
Truth: The sooner you start saving and investing, the better.
Myth: Only rich people get tax breaks.
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Truth: The tax code offers savings for middle- and working-class taxpayers for starting a family, education, home buying and retirement saving.
Myth: Gold is the best investment you can make.
Truth: A diversified portfolio will shine brighter.
Myth: Social Security won't be around when you retire.
Truth: It will evaporate by 2034 if nothing changes, but incoming money from payroll taxes will still be enough to support about 75% of promised benefits.
Myth: Free trade deals are bad for America.
Truth: Trade and international commerce creates as many (if not more) higher-paying jobs, especially in the services industries, as it destroys.
Myth: Tapping your 401(k) is a great way to borrow money.
Truth: The hit to your nest egg may be greater -- and last longer -- than you think.
Myth: Credit cards are best to be avoided.
Truth: Used smartly, a credit card will help you build a solid credit history and boost your credit score.
Myth: Only rich people need a will.
Truth: Everybody should have a will, even if only to spell out funeral and burial wishes.
Read more about the urban myths of personal finance.
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7 Things Medicare Doesn’t CoverHealthy Living on a Budget Medicare Part A and Part B leave some pretty significant gaps in your health-care coverage. But Medicare Advantage has problems, too.
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Rent or Buy? Which Is Best in Retirement?Making Your Money Last Renting isn't right for all retirees, but it does offer flexibility and it frees up cash.
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How to Benefit From Rising Interest RatesFinancial Planning Savers will get the best rates from top-yielding savings and money market deposit accounts at online banks.
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Donor-Advised Funds: The Gift That Keeps on GivingFinancial Planning Expert guidance on how this charitable vehicle can make a difference.
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PODCAST: Tax Breaks for College Finance with Kalman ChanyPaying for College Paying for (ever-pricier) college is a challenge that this consultant meets head on with highly specific guidance.
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Reading, Writing, and Personal FinanceRaising Money-Smart Kids A growing number of high schools are adding personal finance to their curriculum.
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Backdoor Roth IRAs: Retirees, Make the Most of a Roth's Back DoorFinancial Planning A backdoor Roth IRA enables wealthier individuals to to earn tax-free income. But how long will that back door remain open?
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How Big Should My Emergency Fund Be?Brandon Copeland NFL linebacker and Kiplinger contributing editor Brandon Copeland discusses the importance of building an emergency fund.
