Q&A: Facing retirement with parent student loans? Transfer them to the kids

Dear Liz: I’m 60. Should I take a $50,000 distribution from my 401(k) to pay down my $146,000 parent Plus college loan and then try to refinance the balance with a private lender at a lower interest rate? I have $364,000 in my 401(k). I’m paying 8% interest on the parent Plus loan and planning […]

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Friday’s need-to-know money news

Today’s top story: Why you should ask your parents about their financial plans. Also in the news: Why you no longer need a chip-and-PIN card overseas, earning and burning your airline rewards to maximize free flights, and 1 in 4 millennials raiding 401(k)s early to pay down debt. Yes, You Should Ask Your Parents About […]

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Thursday’s need-to-know money news

Today’s top story: 5 travel rewards myths that could cost you. Also in the news: 5 things to know about the Hilton Honors AmEx business card, what to know about SIMPLE IRAs, and how to manage household finances after your spouse dies. 5 Travel Rewards Myths That Could Cost You How to make the most […]

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5 travel rewards myths that could cost you

Twenty-four years ago, I knew so little about travel rewards that I took an around-the-world trip without signing up for a single frequent traveler program. Those lost points and miles still haunt me. Fast forward to last summer, when our family stayed two nights at a luxury hotel in Venice, Italy. Our room would have […]

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Monday’s need-to-know money news

Today’s top story: What really happens when you try to win money to pay down student loans. Also in the news: How to sidestep the potential pitfalls of travel credit cards, new Barclays feature gives you more spending control, and how to pay the exact amount of taxes you owe in advance. What Really Happens […]

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Q&A: Student loan forgiveness fail

Dear Liz: You recently answered a question from someone who had defaulted on federal student loans. You mentioned ways to get out of default and qualify for income-driven repayment plans that could reduce her monthly payments. Couldn’t she also qualify for student loan forgiveness? Answer: There are programs that are supposed to allow federal student loan balances to be […]

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Q&A: Don’t make this Social Security mistake when planning retirement

Dear Liz: I’m 64, single, and was diagnosed with Type 2 diabetes. I still work full time but due to my health, it’s getting harder to do. I have a 401(k) from this job. I’m just wondering how smart would it be, all things considered, to retire now and collect Social Security since the chances of […]

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Friday’s need-to-know money news

Today’s top story: Hit with a tax penalty? The IRS might give you a do-over. Also in the news: Why your 401(k) just got more valuable, how to capture savings on professional photography, and how to talk about money on the first date. Hit With a Tax Penalty? The IRS Might Give You a Do-OverHow […]

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Thursday’s need-to-know money news

Today’s top story: How being late on your taxes could ground your vacation plans. Also in the news: 5 ways to maximize ‘shoulder season’ travel, what it’s like to win money to pay down student loans, and why you shouldn’t use your debit card on anything you can’t afford to lose. Late on Your Taxes? […]

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