Q&A: Maxing out retirement savings

Dear Liz: My husband and I are in our late 40s. We’re in a good financial position and trying to max out our retirement savings. We have small traditional IRAs and are now above the income limit to deduct contributions to it. We have Roth IRAs that we converted from traditional IRAs several years ago […]

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Q&A: Unsolicited financial advice

Dear Liz: Your answer to the financially savvy brother whose advice is lost on his sisters was a bit harsh and shortsighted, so my guess is that you may not know anyone who has siblings who will continue for the next few decades to need help. It is hard to deny a sibling help while […]

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Friday’s need-to-know money news

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Today’s top story: What to do if you’re an Anthem insurance customer. Also in the news: TurboTax stops state filings, how your own personal lottery can add up to big savings, and how your pet can fetch a tax deduction. Millions of Anthem Customers Exposed: What It Means for You Find out what you should […]

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Thursday’s need-to-know money news

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Today’s top story: There’s been a massive data beach at Anthem Insurance. Also in the news: Personal finance questions that should be answered before you say “I do”. learning your investment vocabulary, and assumptions that could hurt your retirement plans. Massive breach at health care company Anthem Inc. As many as 80 million customers have […]

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Wednesday’s need-to-know money news

Today’s top story: Americans and their 401(k) savings. Also in then news: How to make taxes easier with your smartphone, what you should know about long-term care insurance, and what to do if your teen is destined for bad credit. Good News and Bad News for Americans’ 401(k) Savings Get your hand out of the […]

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Tuesday’s need-to-know money news

Today’s top story: When it’s time to look for a new bank. Also in the news: Personal finance questions you need to answer, how to upgrade your financial life, and ten ways to have a financially happy marriage. 6 Signs It May Be Time to Switch Banks Time for a new relationship? 8 Personal Finance […]

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Monday’s need-to-know money news

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Today’s top story: Why treating your household like a business could help your budget. Also in the news: The money moves you need to make right now, why it’s going to get tougher to get a student loan, and how to take advantage of the home office deduction. How to Manage Your Household Budget Like […]

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Q&A: Giving financial advice to family

Dear Liz: I am 30 and have two sisters, ages 31 and 27. My wife and I both have good jobs that allow us to live comfortably and save for retirement. My sisters, on the other hand, have severe money problems. My older sister works a low-paying retail job. She is unable to save and […]

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Q&A: Financial aid and divorce

Dear Liz: My ex-wife and I are about to start the financial aid process for our eldest child, who goes to college in the fall. My ex happens to have a higher income than me, and has asked me if I’d be willing to have different aid scenarios calculated based on our different incomes and […]

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Q&A: Brokerage follow-up

Dear Liz: You recently explained the insurance limits for brokerage accounts covered by the Securities Investor Protection Corp. I recently retired from the brokerage industry and wanted to add that many firms have additional insurance coverage beyond the SIPC limits. Answer: Good point. Brokerages often purchase additional coverage from private insurers on top of what’s […]

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