I have answered 30,000 money questions since 1991. These 7 appear most often.

I founded Money Talks News in 1991. Since then, I’ve tried to answer every money question readers ask me – in columns, on TV, in the newsletter, on the podcast. If you add that up, there are more than 30,000 questions in 35 years.

This is what all these questions have taught me: worries hardly change.

The tools are changing – cell instead of checkbooks, robo-advisors instead of brokers in bad suits. But the fears underneath remain exactly the same.

I’m a certified public accountant and worked as an investment advisor on Wall Street for about a decade before I stopped giving honest advice instead of selling products. So I’ve heard these questions from both sides of the desk.

Here are the seven I get most often – and my clear answer to each.

1. When should I apply for Social Security?

This laps the field. It’s the biggest money decision most people ever make, and most people screw it up by claiming benefits at 62 out of fear that the money won’t be there.

You can claim at age 62 and – if your full retirement age is 67 – you will receive a 30% reduction for life. Wait until age 70 and the Social Security Administration will pay you 124% of your full benefit instead. That’s about 77% more than the 62-year-old check, and it never goes away.

There is no single correct answer. It depends on your health, your savings and your spouse. I’ve broken down exactly how I would weigh it up in my honest assessment of when I would make a claim.

2. Should I buy an annuity?

Some annuities are fine – an immediate annuity can work like a DIY annuity. The problem is that the ones that sell the most tend to pay the seller the highest commission, not the ones that are a good fit.

Here’s my rule: If you can’t explain how to make money from something in one sentence, don’t buy it. And watch out for the fees – they are often hidden but can be monsters.

I’ve written a full breakdown of how pensions actually work – and when they’re worth it.

3. Should I pay off my mortgage before I retire?

Depends entirely on your tariff. Below 4% the math says: keep it and invest the difference. At over 6% the kill is close to a guaranteed return that can’t be beat anywhere else.

But never use up your 401(k) or IRA to do this – the tax burden can push you into a higher tax bracket.

And if debt keeps you up at 3 a.m., pay it off and ignore the spreadsheet. I’ve done the full calculation on carrying a mortgage into retirement here.

4. Do I really need a financial advisor?

Some people do it. Some don’t. But no one tells you this: Most people who hire an advisor don’t get better returns. They’re buying peace of mind and someone to stop them from panic selling.

This is a real service – when you pay for advice, not a sales pitch.

The catch is that you know which one you have. Here’s what people are really paying for and how to tell the difference.

If you have more than $100,000 in savings and decide to work with a financial advisor, talk to several before choosing one. SmartAsset’s free matching service helps you find up to three pre-vetted fiduciary advisors who are legally required to act in your best interests.

The service is completely free and takes less than 10 minutes.

As a quick aside, most of the financial advice on the internet comes from people who weren’t alive during the last recession. I’ve been writing about money for more than 35 years. Would you like sound advice? Sign up for the free Money Talks newsletter. Lasts 10 seconds. No fluff. No spam.

5. Should I cosign a loan for someone I love?

When someone asks you to co-sign, this is what happens: A professional lender, whose entire job is to assess risk, looked at that person and said, “No.”

By co-signing, you are responsible for the entire debt. And the Federal Trade Commission warns that the lender doesn’t have to go after the borrower first – they can come to you directly.

I did it anyway, so I get it. If so, at least protect yourself first.

6. How do I avoid being scammed?

Fear, urgency and a trusted name. That’s the whole trick, and nothing has changed in the last 35 years – only the technology.

The IRS won’t call you. Social Security won’t call you. Nobody legitimately demands gift cards or wire transfers within a certain time limit.

My best defense costs nothing: choose a trustworthy person and call them before moving money. I’ve laid out the seven rules that stop almost every scam.

7. Do I have enough to retire?

The most frequently asked question of all – I’ve heard it thousands of times since my time as a stockbroker. And there is the least satisfactory answer because it really depends on you.

Ignore any online calculator that spits out a single magic number. Change an assumption – your rate of return, inflation, how long you live – and the answer varies by hundreds of thousands.

So skip the guesswork. I’ve laid out a five-step way to find your own number in about 30 minutes. That beats any calculator.

The end result

30,000 questions were received, here’s the common thread: The financial world is structured in such a way that simple things feel complicated because the fees are hidden in the confusion.

None of this is as hard as it looks. It just has a lot of people invested in making you feel like it is.

If you have your own questions, subscribe to the Money Talks newsletter and let’s figure it all out together.

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