Sound Advice

Don't wait too long to use your airline miles or credit card points Airline miles typically have expiration policies that vary by program, but many miles expire after a period of inactivity, often ranging from 18 to 36 months. For example, Air Canada Aeroplan miles expire after 18 months of inactivity, Air France-KLM Flying Blue miles expire after 24 months without qualifying activity, and other airlines like British Airways and Lufthansa have miles that expire after 36 months of inactivity. Some premium status members may have miles that never expire as long as they maintain their status. Credit card points also require attention because redemption rates, transfer options, and redemption methods can influence the value you get from your points. Airlines and credit card programs may change redemption rates or policies over time. Generally, it's wise not to hoard miles or points too long without redeeming because they can lose value, expire, or programs can devalue the rewar...

When is the best time of year to get the best prices when shopping? The best time of year to get the best prices when shopping depends on the type of item, but there are several key periods known for deep discounts: Major holiday weekends like Memorial Day, Labor Day, and Presidents Day are excellent for big sales across electronics, appliances, furniture, and more. Post-holiday sales in January and late December often feature markdowns on seasonal items like winter clothing and holiday decorations. End of season clearance sales offer good deals on clothing: winter clothes in January-February, spring gear in May, summer wear in July-August, and fall attire in October-December. Black Friday (the day after Thanksgiving) and Cyber Monday bring steep discounts on a wide range of products, including tech, clothing, and toys. Amazon Prime Day (several over the course of the year) is a good time for technology and home goods deals. Ba...

Why should investors ignore commercials about trading? Investors should largely ignore commercials about trading because these advertisements often exaggerate potential benefits, downplay risks, and promote strategies that are most unlikely to align with an individual’s financial goals or risk tolerance. Misleading Promises and Exaggerated Returns Many trading commercials emphasize quick profits or "secret" strategies, often using testimonials or simulated results that do not represent the average real-world experience. Such claims often encourage unrealistic expectations and impulsive decisions, which can lead to significant financial losses. Commercials typically neglect to fully explain the risks involved in trading, such as market volatility, leverage dangers, and the risk of losing a substantial portion of invested capital. They may also skip over hidden costs like commissions, spreads, and platform fees, which can eat into potential profits. Misalignment with ...

How reliable are online reviews? Online reviews are only moderately reliable today—about two-thirds of reviews are genuine—but fake or manipulated feedback remains a widespread and growing problem across all major platforms. ​ Reliability and Prevalence of Fake Reviews Recent 2025 data shows that around 30% of online reviews are fake, with some analyses finding up to 47% of reviews on major websites to be suspicious or manipulated. Platforms like Amazon and Yelp are heavily affected, while Trustpilot and Google continue to battle massive fake review volumes. For instance, Google removed over 170 million reviews in 2023 that violated its authenticity policies, and Tripadvisor deleted about two million in the same year. Consumer Trust and Perception Despite growing awareness, many consumers still trust online reviews. Surveys in 2025 show that 64% of people find online reviews as trustworthy as personal recommendations, while 67% worry about their authenticity. This paradox ste...

How reliable are target prices for stocks? Target prices for stocks, as issued by financial analysts, generally show very limited reliability and should not be seen as precise predictions for future stock prices.   Studies reveal that roughly 30-54% of target prices are met or surpassed within the forecast period—with errors and bias common among these forecasts. Analysts can provide valuable information on prospective future earnings, but target prices tend to be based on valuation levels (price-earnings multiples) that are almost always much higher or lower than what might be considered normal levels.   Valuation levels are a function of several factors including prospective growth rates and consistency of past growth.   The higher the prospective growth rate, the higher the valuation. But there are several caveats.   One is that valuations will be reduced if the past had significant ups and downs from year to year.   The other is that consistency of past ...

How concerned should I be about personal identity theft? Personal identity theft remains a significant and growing concern in 2025, as the number of incidents continues to climb, affecting people of all ages and backgrounds.  Over 1.1 million cases of identity theft were reported to the FTC in 2024, a number that increased by nearly 10% compared to the previous year, while fraud losses rose to over $12.5 billion. Why It's a Major Concern Identity theft affects millions annually, with nearly 1 in 5 Americans reporting some form of incident in recent years, and the risk is not diminishing. The most common forms involve fraudulent credit card accounts, synthetic identity fraud (mixing real and fake information), and financial account takeovers.  Thieves often leverage data from breaches, phishing, and misuse of personal facts shared online. New techniques, especially the use of AI for generating deepfake identities or more convincing scam...