Personal Finance Daily: Don't be fooled: Banks are going to make you pay

Personal Finance Daily NOVEMBER 01, 2011 Don't be fooled: Banks are going to make you pay By MarketWatch Don't miss these top stories: B. of A. cuts debit fee but new bank fees likely ahead How to invest so your money lasts in retirement Feds to help borrowers prove foreclosure errors Demographics and the stock market The good news first: You're unlikely, at least for now, to face a fee for using your bank debit card to make purchases. All the big banks have now backtracked on their plans to levy such fees. The bad news: Banks are always looking for ways to generate fees from you, their customer. Read Jennifer Waters's column to find out what to expect in terms of new fees and charges at your bank. Plus, read our story on how to invest your money so it lasts in retirement. Our contributor, Larry Katz, took a hypothetical portfolio and looked at how various withdrawal rates affected it. His findings offer some useful guidelines about how to invest for your future. — Andrea Coombes , Personal Finance editor B. of A. cuts debit fee, but new bank fees likely ahead All the banks have backtracked on their plans to charge you to use debit cards to spend your own money. But the banks will find ways to recoup the estimated $6.6 billion in revenues lost to the new law that caps fees on debit-card transactions. Read more: B. of A. cuts debit fee, but new bank fees likely ahead. How to invest so your money lasts in retirement Many people worry about whether their savings will last for their entire retirement. Larry Katz, director of research at Merriman Inc., a Seattle-based financial advisory firm, runs the numbers to assess the asset allocation and portfolio withdrawal rates that are likeliest to stand the test of time. Read more: How to invest so your money lasts in retirement. Feds to help borrowers prove foreclosure errors Those who were foreclosed upon in 2009 and 2010 will be able to request an independent review to get compensated if errors were made, federal regulators said. Read more: Feds to help borrowers prove foreclosure errors. Demographics and the stock market How much should investors worry that the baby boomers' retirement will lead to an abnormal amount of selling pressure on the U.S. stock market? Read more: Demographics and the stock market. Three ETFs for contrarians There are ways to play against the fears of a double-dip. Read more: Three ETFs for contrarians. Where to harvest stock market profits The stock market turned in an extraordinary October, one of the best on record. Even if it weren't that time of year when we are evolutionarily predisposed to be thinking about what to harvest, now would be a good time to see which stocks might be overvalued or just simply gotten a bit ahead of themselves. Read more: Where to harvest stock market profits. ECONOMY & POLITICS Ask your question to Bernanke Leave your question to Federal Reserve Chairman Ben Bernanke, and MarketWatch will try to ask it during Wednesday's press conference. Read more: Ask your question to Bernanke. Fiscal experts sternly warn supercommittee The heads of high-profile deficit-cutting commissions on Tuesday urged the congressional supercommittee to aim high just weeks ahead of its deadline, saying failure to reach an agreement about shrinking the U.S. debt could result in another ratings-agency downgrade. Read more: Fiscal experts sternly warn supercommittee. Bank of America backtracks on fees Get ready to lock down your wallet, read fine print and watch your bank statements like a hawk, writes Chuck Jaffe. Read more: Bank of America backtracks on fees. Rich class fighting 99%, winning big time Yes, the rich class is at war with you, with the 99%, a war against America. This class war actually started a generation ago, in 1981 when Ronald Reagan became president. Since then, the rich class has been winners. Big time. And the 99% are the losers. Real big time. Read more: Rich class fighting 99%, winning big time. U.S. manufacturing growth slows in October Growth in the U.S. manufacturing sector decelerated in October as production and inventories declined, according to a closely followed index. Read more: U.S. manufacturing growth slows in October. Get the latest news on our mobile site: http://www.marketwatch.com/m MarketWatch has sent you this newsletter because you signed up to receive it. To ensure you receive this newsletter in the future, please add marketwatchmail.com to your list of approved senders. Sent to: kumaresan.selva.blogger@gmail.com Unsubscribe | Subscribe Copyright 2011 MarketWatch, Inc. All rights reserved. MarketWatch, the MarketWatch logo, and BigCharts are registered trademarks of MarketWatch, Inc. By using this site, you agree to the Terms of Service and Privacy Policy (updated 6/26/07). MarketWatch - Attn: Customer Service, 201 California St., San Francisco, CA 94111