Personal finance columnist Humberto Cruz and his wife, Georgina, did what many people dream about but believe can't be done: Retire from full-time work in their 50s on middle-class salaries, buy a new home on the beach and still have a nest egg of $2 million left. In his personal finance column, "The Savings Game," syndicated by Tribune Media Services, Cruz explores common-sense ways to manage money and build wealth. A native of Cuba who came to the United States with only $300 in his pocket, Cruz practices the basic rules he promotes through his down-to-earth, easy-to-understand columns: Spending less than you make, investing wisely for the long term, being savvy with credit and making tax-smart decisions. Cruz closely follows trends and draws on a national network of outstanding sources to provide the most up-to-date, useful information. Cruz worked as a writer and an editor for the South Florida Sun-Sentinel for 30 years. "The Savings Game" began at the Sun-Sentinel in 1990 and now appears in newspapers across the country. Cruz also wrote a syndicated column "The Mutual Funds Wire" between 1997 and 2000 before retiring from full-time work. Together with Georgina, a nationally known travel writer and author, Humberto also wrote "Retire Smart," a syndicated column for savvy retirees and boomers on the road to retirement, from 2001 to 2007. In 2006, Moneysmartz.com named Cruz one of its best personal finance columnists for financial planning, savings commentary and advice. http://www.townhall.com/columnists/HumbertoCruz http://media.townhall.com/TownHall/icons/TH-feed-icon-128x128.gif http://www.townhall.com/columnists/HumbertoCruz TownHall.com, Where your opinion counts. 128 Copyright (c) 2012 Townhall.com, A Salem Communications Web. ALL RIGHTS RESERVED jim.dearras@townhall.com (Jim De Arras) Wed, 22 Apr 2009 04:01:00 GMT Wed, 22 Apr 2009 04:01:00 GMT http://blogs.law.harvard.edu/tech/rss RSS.NET: http://www.rssdotnet.com/ Exercising can be a pain when we're way out of shape (I know because I was 44 pounds overweight once). But that's exactly when we need to do it, starting slowly if we must and as part of an overall, well thought-out... http://www.townhall.com/columnists/HumbertoCruz/2009/04/22/sound_financial_planning_for_retirement 1a138527-2f92-4063-aacc-93cb6710d628 Wed, 22 Apr 2009 04:01:00 GMT Too many books on investing and personal finance try to exploit the prevailing mood of the public, be it fear or greed. In boom times, they tout fancy stock-trading strategies supposed to juice up returns. In tough... http://www.townhall.com/columnists/HumbertoCruz/2009/04/21/check_out_these_timeless_books_on_financial_planning 94510227-1242-4435-9db1-f5d00065f4a2 Tue, 21 Apr 2009 04:01:00 GMT Q: My wife and I have asked our financial adviser how much money we can expect to have monthly at retirement from our savings, and have not received even a clue from him. Instead, he asks us what we'll need or want.... http://www.townhall.com/columnists/HumbertoCruz/2009/04/14/retirement_planning_based_on_individual_circumstances d68e0b78-9fcd-4d41-a345-a8e6732909ca Tue, 14 Apr 2009 04:01:00 GMT Q: My company is offering both a traditional and a Roth 401(k) plan this year. Is a Roth 401(k) the same as a Roth IRA? Is it better than a traditional 401(k)? A: A Roth 401(k) and Roth IRA are not the same. But... http://www.townhall.com/columnists/HumbertoCruz/2009/04/07/which_is_better_-_roth_401k_or_roth_ira ead8a7ea-2a6f-418d-abdd-356a7c2606df Tue, 07 Apr 2009 04:01:00 GMT Q: I'm researching the best time to start Social Security benefits. I'm curious if you considered filing for benefits as soon as possible, investing the money and then filing for a withdrawal of application and... http://www.townhall.com/columnists/HumbertoCruz/2009/03/31/suspending_and_reapplying_for_benefits_could_be_risky 8635a087-936e-45a6-bf5d-70062ecbec47 Tue, 31 Mar 2009 04:01:00 GMT As severe as stock market losses have been, they have been made worse by our emotions. I hope a calm look at the numbers will inspire more rational investor behavior -- and better results. At least, let's recognize... http://www.townhall.com/columnists/HumbertoCruz/2009/03/24/dollar_cost_averaging_can_take_chill_out_of_stock_investing 7f43b1f6-c062-4136-ad0c-afd4500ec07c Tue, 24 Mar 2009 04:01:00 GMT When money is tight, cutting corners on insurance may seem a tempting way to save money. But dropping needed coverage can be an expensive mistake. Better to shop around, comparing prices and services for the... http://www.townhall.com/columnists/HumbertoCruz/2009/03/17/show_around_for_insurance 1cd41d6e-9ee0-4c1a-9749-46c23f1e7258 Tue, 17 Mar 2009 04:01:00 GMT I'm always amazed by the size of the refund most American taxpayers get year after year. The average refund was $2,429 last year, up from $2,324 in 2007, according to the Internal Revenue Service. I'll lay heavy odds... http://www.townhall.com/columnists/HumbertoCruz/2009/03/10/taxpayer_tips f23dfb48-c676-4cd3-a62a-503b98cd98e7 Tue, 10 Mar 2009 04:01:00 GMT I'm always amazed by the size of the refund most American taxpayers get year after year. The average refund was $2,429 last year, up from $2,324 in 2007, according to the Internal Revenue Service. I'll lay... http://www.townhall.com/columnists/HumbertoCruz/2009/03/08/taxpayer_tips 3895c30f-77f1-4408-8263-3333ab7e26d1 Sun, 08 Mar 2009 05:01:00 GMT The discounts and sales at the mall have been terrific. I needed new shirts and bought four at 60 percent off. I also replaced a worn-out pair of shoes and got a second pair at half price. And have you seen the ads... http://www.townhall.com/columnists/HumbertoCruz/2009/03/03/saving_first_can_ease_recession_worries cac4dcb0-20e0-4337-a972-72eb45630bec Tue, 03 Mar 2009 05:01:00 GMT Judging by your continuous e-mails and letters, taxpayers this year are more confused than ever. I'll focus today on the two issues you've asked about the most: the so-called recovery rebate credit and the additional... http://www.townhall.com/columnists/HumbertoCruz/2009/02/22/dont_confuse_recovery_rebate_credit_with_deduction fd0745c6-d4cc-4d72-95e4-4d6f12f27ecf Sun, 22 Feb 2009 05:01:00 GMT Judging by your continuous e-mails and letters, taxpayers this year are more confused than ever. I'll focus today on the two issues you've asked about the most: the so-called recovery rebate credit and the additional... http://www.townhall.com/columnists/HumbertoCruz/2009/02/18/dont_confuse_recovery_rebate_credit_with_tax_deduction 4d87cab4-9ae9-46d7-b58b-6def806a8d5e Wed, 18 Feb 2009 05:01:00 GMT Ryan and Christy Schrock began married life $80,000 in debt, just days after Ryan graduated from the U.S. Military Academy in 2001. "We didn't have the money to pay for the wedding, so it went into credit card debt,"... http://www.townhall.com/columnists/HumbertoCruz/2009/02/15/america_saves_week_celebrates_smart_savings_habits d6216590-d6a8-459e-b255-5db2c111f545 Sun, 15 Feb 2009 05:01:00 GMT Ryan and Christy Schrock began married life $80,000 in debt, just days after Ryan graduated from the U.S. Military Academy in 2001. "We didn't have the money to pay for the wedding, so it went into credit card debt,"... http://www.townhall.com/columnists/HumbertoCruz/2009/02/15/america_saves_week_celebrates_smart_savings_habits a04362df-0bef-457d-9592-f801e30b61c5 Sun, 15 Feb 2009 05:01:00 GMT If Timothy Geithner can't get his taxes right, what hope is there for the rest of us? I'm poking fun at the failure of the new U.S. Treasury Secretary, later corrected, to pay past self-employment taxes. But I am... http://www.townhall.com/columnists/HumbertoCruz/2009/02/10/tax_law_changes_drive_more_americans_to_tax_preparers 334a5587-f49f-41cd-870d-0cc1d571a03e Tue, 10 Feb 2009 05:01:00 GMT If Timothy Geithner can't get his taxes right, what hope is there for the rest of us? I'm poking fun at the failure of the new U.S. Treasury Secretary, later corrected, to pay past self-employment taxes. But I am... http://www.townhall.com/columnists/HumbertoCruz/2009/02/08/tax_law_changes_dive_more_americans_to_paid_income_tax_preparers 311afc57-ac67-4181-90d2-07547526883a Sun, 08 Feb 2009 05:01:00 GMT Despite recent assurances from his boss, my son-in-law, Kyle, was laid off from his engineering job three weeks before Christmas. "We felt betrayed and hopeless, especially in this tough economy with two young sons,"... http://www.townhall.com/columnists/HumbertoCruz/2009/01/27/layoff_teaches_valuable_financial_and_life_lessons a08bb025-601a-430c-99da-9455d414d616 Tue, 27 Jan 2009 05:01:00 GMT In an unforgiving market, many low-cost "balanced" mutual funds split 60/40 between stocks and bonds lost 22 percent or more of their value last year, shriveling the 401(k) account balances of even well-diversified... http://www.townhall.com/columnists/HumbertoCruz/2009/01/27/dont_give_up_on_your_401k 7c9f3559-835b-4b90-80b1-bc03e8eb97f0 Tue, 27 Jan 2009 05:01:00 GMT Despite recent assurances from his boss, my son-in-law, Kyle, was laid off from his engineering job three weeks before Christmas. "We felt betrayed and hopeless, especially in this tough economy with two young sons,"... http://www.townhall.com/columnists/HumbertoCruz/2009/01/25/layoff_teaches_valuable_financial_and_life_lessons 13034679-cd77-42c0-8990-6696058314c0 Sun, 25 Jan 2009 05:01:00 GMT You've heard it many times: Stocks are the best-performing investments over the long term. But just how long is long term? Financial advisers typically recommend investing in stocks the money we won't need for at... http://www.townhall.com/columnists/HumbertoCruz/2009/01/20/long-term_stock_returns_not_always_consistent cfee6aa8-0490-49f8-b05b-7a718f0991c4 Tue, 20 Jan 2009 05:01:00 GMT You've heard it many times: Stocks are the best-performing investments over the long term. But just how long is long term? Financial advisers typically recommend investing in stocks the money we won't need for at... http://www.townhall.com/columnists/HumbertoCruz/2009/01/18/stock_returns_not_always_consistent 29e8016a-333a-405f-8435-854e2d8cdb6e Sun, 18 Jan 2009 05:01:00 GMT While their parents enjoy rare time off by themselves, our two grandchildren, 8 and 5, will spend a week with my wife, Georgina, and me at Disney World. We've been looking forward for months to this fun week in April -... http://www.townhall.com/columnists/HumbertoCruz/2009/01/13/layaway_plan_can_help_cover_special_expenses 7ed221a4-0738-46fe-9088-9679f76a0f24 Tue, 13 Jan 2009 05:01:00 GMT We've said good riddance to 2008, a year of massive job losses and sinking stock prices, of frozen credit markets and rising home foreclosures and, to cap it off, an unprecedented alleged multi-billion dollar fraud on... http://www.townhall.com/columnists/HumbertoCruz/2009/01/06/2008_may_turn_out_to_be_a_good_year_-_if_we_heed_its_lessons 97db0f0a-f9dc-4dc9-92c5-318ca18b81e4 Tue, 06 Jan 2009 05:01:00 GMT Making year-end predictions, a treacherous task at best, has turned particularly tricky in the midst of a global financial crisis this year. But I have a few predictions that, to my regret, I believe will come true in... http://www.townhall.com/columnists/HumbertoCruz/2008/12/30/some_predictions_bad_and_good_for_2009 600a6ee7-7277-4a37-8285-bed04b9fb31a Tue, 30 Dec 2008 05:01:00 GMT Your questions on capital gains taxes need answers before the year ends. Many of you are intrigued - and puzzled - by the "zero percent" tax rate on long-term capital gains for taxpayers who don't exceed the 15... http://www.townhall.com/columnists/HumbertoCruz/2008/12/23/capital_gains_bite_hinges_on_taxable_income 99910ff0-a7ee-4832-b891-62bf3a6e9d0a Tue, 23 Dec 2008 05:01:00 GMT Times must be really tough. I wrote a column saying we should keep track of all our expenses and didn't get any hate mail. In the past, if I as much broached the subject, I could count on getting a stream of e-mails... http://www.townhall.com/columnists/HumbertoCruz/2008/12/16/expense_tracking_finally_getting_some_respect 07393b22-3b3e-42bd-b690-9e823fb69515 Tue, 16 Dec 2008 05:01:00 GMT I don't make stuff up. Last month, in a column about tax planning, I mentioned that non-itemizers could claim an additional standard deduction of up to $1,000 for property taxes paid in 2008 and 2009. I did so... http://www.townhall.com/columnists/HumbertoCruz/2008/12/09/extra_deduction_for_non-itemizers_is_no_joke 4634964a-506a-41bc-a461-9a5f367f9df4 Tue, 09 Dec 2008 05:01:00 GMT Q: A financial adviser suggested I roll over my entire $380,000 401(k) balance into a variable annuity within an IRA. The annuity has a seven-year surrender-charge period but guarantees 5 percent a year even if the... http://www.townhall.com/columnists/HumbertoCruz/2008/11/25/valuable_annuity_may_be_useful,_but_dont_bet_401k_on_it 881ac849-0127-450f-a012-16ab4f09d40f Tue, 25 Nov 2008 05:01:00 GMT It's one of the biggest assets, if not the biggest asset, for millions of Americans in or near retirement. Despite a global financial crisis, it has kept all its value. But we have little practical knowledge of this... http://www.townhall.com/columnists/HumbertoCruz/2008/11/21/many_people_little_about_their_most_valuable_retirement_asset 989890a9-8335-49ef-9d2e-f991f06b1d38 Fri, 21 Nov 2008 05:01:00 GMT It's one of the biggest if not the biggest asset for millions of Americans in or near retirement. Despite a global financial crisis, it has kept all its value. But we have little practical knowledge of this asset -... http://www.townhall.com/columnists/HumbertoCruz/2008/11/18/surprisingly,_many_people_know_little_about_their_most_valuable_retirement_asset ee41b2da-e920-4ebe-839c-4562a2af4aaf Tue, 18 Nov 2008 05:01:00 GMT My 7-year-old grandson, Aidan, is a huge "Star Wars" fan. Imagine his excitement when he realized that, after weeks of saving the $5 allowance his parents give him, he had $40. That was more than enough for a General... http://www.townhall.com/columnists/HumbertoCruz/2008/11/14/comparision_shopping_can_be_eye-opening,_especially_for_kids 1480b554-99a4-4920-8350-9c67d1b02a1e Fri, 14 Nov 2008 05:01:00 GMT My 7-year-old grandson, Aidan, is a huge "Star Wars" fan. Imagine his excitement when he realized that, after weeks of saving the $5 allowance his parents give him, he had $40. That was more than enough for a General... http://www.townhall.com/columnists/HumbertoCruz/2008/11/12/comparison_shopping_can_be_eye-opening,_especially_for_kids bb8eb19f-508e-47f8-94ed-8197a1fedc26 Wed, 12 Nov 2008 05:01:00 GMT Q: I thought you were an investment guru. Instead, you apparently park a lot of money in the bank. Do you recommend safety first and don't get involved in stocks and bonds? A: Glad you asked, because a discussion... http://www.townhall.com/columnists/HumbertoCruz/2008/11/08/think_goals,_risk_tolerance,_and_timeline_for_asset_allocation bedb88d0-61ea-4bbf-bf1d-34faeb9bc683 Sat, 08 Nov 2008 05:01:00 GMT The talking heads on television and self-styled financial pundits in print have had their epiphany. It's time to get back to basics, many proclaim. Their latest advice, dispensed with the customary ring of authority,... http://www.townhall.com/columnists/HumbertoCruz/2008/11/03/keeping_track_of_your_expenses_can_be_liberating 49874e82-dbfb-41ba-ad17-a676c02b0d87 Mon, 03 Nov 2008 23:54:40 GMT Q: I thought you were an investment guru. Instead, you apparently park a lot of money in the bank. Do you recommend safety first and don't get involved in stocks and bonds? A: Glad you asked, because a discussion... http://www.townhall.com/columnists/HumbertoCruz/2008/10/27/to_play_it_safe_of_go_big e16a9c51-3cbf-4745-83d5-5c64c11ad521 Mon, 27 Oct 2008 04:01:00 GMT By law, I don't have to start taking money out of my traditional IRA until 2017, after I turn 70 and a half. But I took my first withdrawal in September and plan to keep taking them every month. I can withdraw some... http://www.townhall.com/columnists/HumbertoCruz/2008/10/21/careful_tax_planning_pays_with_meaningful_savings b37e83e3-d7cd-41bb-a07b-84e22007e4cd Tue, 21 Oct 2008 04:01:00 GMT With the government taking unprecedented action to assuage public fear, the rules of account insurance coverage are being rewritten. But the changes are only temporary, intended to restore confidence and help ease... http://www.townhall.com/columnists/HumbertoCruz/2008/10/15/account_insurance_rule_changes_only_temporary 348b9f98-aeaa-4b01-84d1-b4a95499d72b Wed, 15 Oct 2008 04:01:00 GMT Suddenly, I am a cool guy. Savings habits I've preached and practiced for years -- and the realization that avoiding waste is being smart, not a cheapskate -- are now in vogue. With Americans facing continued... http://www.townhall.com/columnists/HumbertoCruz/2008/10/09/commonsense_savings_tips_back_in_vogue 24187cba-6f04-44c2-9a1c-3fb750ae1ed9 Thu, 09 Oct 2008 04:01:00 GMT Your letters and e-mails about bank safety reflect not only high anxiety but also misunderstandings about federal deposit insurance. I will address common questions by sharing steps my wife, Georgina, and I have... http://www.townhall.com/columnists/HumbertoCruz/2008/10/02/make_sure_your_bank_deposits_dont_exceed_fdic_insurance_limit 81d30f55-be52-41b7-83d3-3fbba577e243 Thu, 02 Oct 2008 04:01:00 GMT Suddenly, I am a cool guy. Savings habits I've preached and practiced for years - and the realization that avoiding waste is being smart, not a cheapskate - are now in vogue. With Americans facing continued... http://www.townhall.com/columnists/HumbertoCruz/2008/10/01/common_sense_savings_tips_back_in_vogue 539a2f72-3e58-4252-bc6d-7a520ce1a9df Wed, 01 Oct 2008 04:01:00 GMT My late parents, careful savers all their lives, enjoyed a pleasant if modest and brief retirement (my father, the last to die, passed away at age 73). Among the many things I learned from them were the values of... http://www.townhall.com/columnists/HumbertoCruz/2008/09/25/boomers_less_prepared_for_retirement_than_parents 12347015-5f4c-4a9a-b704-29113aecb861 Thu, 25 Sep 2008 04:01:00 GMT My late parents, careful savers all their lives, enjoyed a pleasant if modest and brief retirement (my father, the last to die, passed away at age 73). Among the many things I learned from them were the values of... http://www.townhall.com/columnists/HumbertoCruz/2008/09/25/boomers_less_prepared_for_retirement_than_their_parents d0884eda-a0cb-4711-976c-677df36fd365 Thu, 25 Sep 2008 04:01:00 GMT Q: My 10-year-old son has autism and will need care the rest of his life. This has put quite an emotional and financial strain on my husband and me. His parents and mine are willing to help but we've heard it's not a... http://www.townhall.com/columnists/HumbertoCruz/2008/09/25/careful_planning_key_to_providing_lifelong_care_for_a_disabled_child 3c7a17a2-e0f6-4756-b904-6c805de7cc85 Thu, 25 Sep 2008 04:01:00 GMT Your letters and e-mails about bank safety reflect not only high anxiety but also misunderstandings about federal deposit insurance. I will address common questions by sharing steps my wife, Georgina, and I have... http://www.townhall.com/columnists/HumbertoCruz/2008/09/25/make_sure_your_bank_deposits_dont_exceed_fdic_limits a4675572-72f0-4c73-b88f-c2a33406c11d Thu, 25 Sep 2008 04:01:00 GMT Your letters and e-mails about bank safety reflect not only high anxiety but also misunderstandings about federal deposit insurance. I will address common questions by sharing steps my wife, Georgina, and I have... http://www.townhall.com/columnists/HumbertoCruz/2008/09/25/the_truth_about_fdic 93f9ec2a-b9ea-4346-857b-deb85140cffe Thu, 25 Sep 2008 04:01:00 GMT Our most useful financial document - and most reassuring to my wife, Georgina, and me in our semiretirement - is a spreadsheet of our predictable income. Besides the interest from fixed-income investments, I included... http://www.townhall.com/columnists/HumbertoCruz/2008/09/25/women_face_most_financial_risk_in_retirement 65b98d08-22e6-48c1-89c6-e7427c1038ae Thu, 25 Sep 2008 04:01:00 GMT I could throw a lot of numbers at you. But the answer to this reader's anxious question -- a common one these days -- must go beyond number crunching: Q: I've read your columns about dollar-cost-averaging and... http://www.townhall.com/columnists/HumbertoCruz/2008/09/25/market_volatility_grating_on_your_nerves 41564f07-c97f-4860-b013-f8aee5f43779 Thu, 25 Sep 2008 04:01:00 GMT For savers, times are getting good and may get better still. Increasingly, federally insured banks are offering attractive yields not only on certificates of deposit but also on totally liquid savings and money... http://www.townhall.com/columnists/HumbertoCruz/2008/09/24/environment_for_savers_is_looking_up 5ed3352a-f402-44a5-9db3-19570c2bee1c Wed, 24 Sep 2008 04:01:00 GMT For savers, times are getting good and may get better still. Increasingly, federally insured banks are offering attractive yields not only on certificates of deposit but also on totally liquid savings and money... http://www.townhall.com/columnists/HumbertoCruz/2008/09/24/environment_for_savers_is_looking_up 4f497a80-a392-4a45-8d55-23aaf581a17e Wed, 24 Sep 2008 04:01:00 GMT Venting a bit can be healthy. Today it's the readers' turn. You'll find some overgeneralizations but also thought-providing ideas. On why many Americans do a poor job of saving: "Our schools don't teach basic... http://www.townhall.com/columnists/HumbertoCruz/2008/09/23/readers_share_their_thoughts_on_saving c7ba0aec-200a-4f31-a9bf-9cb6bf34c6c2 Tue, 23 Sep 2008 04:01:00 GMT