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Monday 2 March 2020

The Daily Money: 3 costs that can gut your savings

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usatoday.com

The Daily Money
 
Monday, March 2

Welcome to the week, money readers. It's David here, with our essential business and personal finance stories for this Monday, including some breaking news that former GE CEO Jack Welch has died.

Coronavirus scams: Be warned, you could soon be inundated with fake products, phony stock deals, fabricated emails and more cons preying on your fears about the global outbreak. And they're all designed to separate you from your money.

Don't run off a cliff: Our financial columnist, Nancy Tengler, urges investors to resist the instinct to pull money out of stocks when the market plunges like it did last week. Money is made at turning points, she argues, and the crowd is rarely right at critical moments.

Expenses to guard against: You have to protect your assets if you hope to eventually stop working and retire. Here are three expenses that can erode your nest egg, and some tips for dealing with them.

For more money news, keep scrolling down

David Brinkerhoff, Deputy Money editor

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