As chief strategist/consumer education for Charles Schwab & Co. Inc., Schwab Pomerantz is a leading advocate for individual investors. She speaks and writes extensively about personal finance issues and is a driving force in the movement to improve financial literacy in America. As president of the Charles Schwab Foundation, she also oversees the company's philanthropic strategy and resources.
With her father, company founder, chairman and CEO Charles R. Schwab, Schwab Pomerantz co-authored "It Pays to Talk: How to Have the Essential Conversations With Your Family About Money and Investing," which Publishers Weekly called "a well-rounded primer that provides one-stop shopping for the many phases of financial understanding and planning."
Schwab Pomerantz is a sought-after speaker whose public appearances have included appearances on "The Today Show," CNBC and NPR. In 2001, Working Woman magazine recognized her as one of four “Market Movers” in America who are “rewriting the rules of finance,” and she was also recognized as one of the “25 power Elite” in the financial services industry by Investment News. For four consecutive years, The San Francisco Business Times has named her one of the San Francisco Bay Area’s 100 Most Influential Women in Business.
A graduate of the University of California, Berkeley, with a bachelor’s degree in Political Science, Schwab Pomerantz later earned a master’s degree in business administration from George Washington University. She holds NASD Series 7, 63 and 8 registrations.
Dear Carrie: My daughter just graduated from college. Although she took several economics classes, she really doesn't have a clue about handling her own money. How can I help her start out on the right foot? -- A Reader
Dear Carrie: A friend recently told me that her financial adviser suggests using age 95 as a life expectancy when planning for retirement. Is this realistic? If so, my wife and I would be afraid to spend a dime. What about living for today? -- A Reader
Dear Carrie: My husband died recently, and it's just me now. Who will look out for me if I have issues with Medicare or Social Security?
Dear Carrie: My husband and I are both 62 and trying to prepare for retirement. He was a stay-at-home dad (no paycheck and no retirement account), and I plan to continue working for at least another five years. Can I now open an individual retirement account for him? Also, can he receive Social Security benefits on my work record? Do I have to retire for him to be eligible? -- A Reader
Dear Carrie: We are expecting our first child soon and trying to get financially prepared. We know college is high on the list, but that's so far in the future. What about now? What should we focus on first? -- A Reader
Dear Readers: Last week, I talked about investing concepts that people want to understand but are too often afraid to ask about -- things such as asset allocation, diversification and risk. But if you're unclear on a concept, I say ask. And ask again if you don't completely understand.
Dear Carrie: My younger brother and I (he's in his mid-50s, and I'm in my early 60s) disagree about whether it makes sense to file for Social Security before the age of 70. Could you shed some light? -- A Reader
Dear Carrie: My daughter was lucky enough to receive a significant college scholarship. Is this considered taxable income to her? And does her scholarship limit my ability to claim an education tax credit? -- A Reader
Dear Reader: Rather than old-fashioned, I think your question is right on target. Especially with the new one-touch payment methods, such as Apple Pay, it's easier than ever to rely on credit cards.
Dear Reader: Although a lot of us may try to forget our age as the years go by, when it comes to reaping the financial rewards of getting older, you're wise to keep certain age-related milestones top of mind. But as might be expected for the rules and regulations surrounding retirement withdrawals and government benefits, it can get complicated.