COVERITLIVE.COM

11:23

Baltimore Sun - Welcome folks! The live chat will start in about 35 minutes. Our guest today is Jim Ludwick, a financial planner in Odenton, who will be able to answer any questions you have on investing, retirement, college savings or any other topic you want to discuss. Meanwhile, take the poll below while you wait for the chat to start.

11:49

11:50

Baltimore Sun - Jim Ludwick founded Main Street Financial Planning Inc. in 2002. His desire was to enable clients to make good financial decisions by providing objective advice and recommendations without conflicts of interest. He expanded the practice as former clients and friends in Southern California requested help during frequent visits to his former hometown of Santa Barbara, where his mother, children and grandchildren reside. You can follow Jim on Twitter at twitter.com/jfludwick.

11:59

Baltimore Sun - Hi, folks, this is Eileen. And we're here with Jim Ludwick. Welcome, Jim!

12:00

Jim Ludwick - Hello, this is JIm

12:00

Baltimore Sun -

Jim, it’s been a year since the market started its freefall. I was wondering if the investors you speak with have recovered and interested in stocks again, or still gun shy?

12:01

Jim Ludwick - Many of the people I'm seeing jumped out late last year or earlier this year. Now they want to know if it's "safe" to get back in.

12:02

Baltimore Sun - Is it safe?

12:03

Jim Ludwick - Investing never eliminates market ups and downs both for equities and bonds. There are other risks too that cannot be eliminated

12:03

[Comment From Greg ]
I am not sure if you answer questions via email or not but thought I'd ask: I have a Visa card through Bank of America (I have had a credit card from them for 20 years). Recently I missed making a payment on time by one day. A late fee was issued, which unfortunately put me over my credit limit. I made more than the minimum payment one day late. The other day, I got a letter in the mail stating that this over limit action resulted in a Default Rate going into effect October 20. This raises my APR from 13.24 to 27.24 percent. It says that I can reject this increase until Oct. 19 through the automated line but this will close my account. What should I do? If I chose to reject it and close the account, will this hurt my credit score?

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