In Brief

SENIOR SCAM The FTC has issued a consumer alert against unscrupulous organizations that prey on thousands of senior citizens. With names like Remington Estate Services, they use deceptive practices to pressure victims into setting up living trusts that in many cases are worthless. A living trust, as opposed to a will, allows heirs to avoid probate-court proceedings since the title is vested with a trustee rather than the individual. But they can be costly--$500 to several thousand dollars. Since most people have modest estates, living trusts are not always warranted.

RX BOOM This year's steady recovery by big drug companies, coupled with a downturn in the technology sector, has made health-sector funds robust performers. While pure bio-tech funds may be too high risk for many investors, a more diversified health-care fund can provide a good, long-term portfolio addition. Near term, there could be a few bumps, though: some drug patents are expiring, and drug prices are likely to be a hot issue in the upcoming election.

PUMP IT DOWN To relieve the sting of recent gas hikes, think about ditching your oil-company credit card for a gas-rebate card. Today almost all major oil companies offer co-branded cards with Visa or Mastercard that promise rebates of 1% to 5% on gas and gas-station purchases. Considering most of the cards have no annual fees, it's not a bad deal--unless you carry a balance. With apr rates as high as 24.4%, those who don't pay promptly will get less mileage out of their dollars.