Beware of these overhyped financial strategies

A good rule of thumb when you’re trying to eat healthy is to beware of any food you see advertised. The most beneficial fare — whole grains, fruits, vegetables — tends not to have a marketing budget.

Similarly, investments that are enthusiastically pushed by commission-earning salespeople may not be the best for your financial health. In my latest for the Associated Press, why you’d be smart to investigate lower-cost alternatives and to consult an objective, knowledgeable third party, such as a fee-only financial planner.

Tuesday’s need-to-know money news

Today’s top story: Identity theft protection you may not know you already have. Also in the news: How auto insurers use you non-driving habits to raise prices, how younger consumers can get a credit boost from their elders, and how to close a credit card the right way. Identity Theft Protection You May Not Know […]

Continue reading...

Q&A: Handling money after marriage can be complicated. Mom and Dad should butt out

Dear Liz: My son just married. He and his wife are keeping totally separate finances, though he makes much more than she does. She is spending way more than she should on household items and services. Is this the new norm for relationships? What kind of professional do we contact that could help them with […]

Continue reading...

Q&A: IRMAA is not your friend

Dear Liz: My wife and I retired in 2019 and ran into IRMAA — Medicare’s income-related monthly adjustment amount, which increased our monthly premiums. I thought I’d done such a good job budgeting for retirement but missed this. A lot of couples have their best income years at the end of their career and then […]

Continue reading...

Q&A: Tax tips for hybrid owners

Dear Liz: Not a question, but a tip for your readers. I bought a plug-in hybrid in 2018. I couldn’t take advantage of the $7,500 federal tax credit because my income was too low to pay much in federal taxes. So I converted $30,000 of my IRA to a Roth IRA, which added that money […]

Continue reading...

Friday’s need-to-know money news

Today’s top story: Haven’t filed a tax return lately? You can still get a refund. Also in the news: The ultimate travel tip for couples, a new tax form that may help simplify filing for seniors, and what Trump’s budget plan would mean for you student loan debt. Haven’t Filed a Tax Return Lately? You […]

Continue reading...

Thursday’s need-to-know money news

Today’s top story: How to navigate your most dangerous decade. Also in the news: 5 questions to ask before you share a credit card, how to use your tax refund to polish your credit, and how to save on your cell phone bill without a family plan. How to Navigate Your Most Dangerous Decade Your […]

Continue reading...

How to navigate your most dangerous decade

Losing a job is almost always traumatic. In your 50s, job loss can be devastating — and devastatingly common. More than half the workers who entered their 50s with stable, full-time jobs were laid off or pushed out at least once by age 65, according to an analysis of employment data from 1990 to 2016 […]

Continue reading...

Tuesday’s need-to-know money news

Today’s top story: Be your financial Valentine. Also in the news: 44% of adults admit to keeping money secrets from a partner, most consumers have already broken their resolutions, and how to reset your finances after a breakup. Be Your Financial Valentine The best gifts you can give yourself. 44% of adults admit to keeping […]

Continue reading...

Monday’s need-to-know money news

Today’s top story: Should your student loans and your spouse’s get hitched? Also in the news: Investing vs paying student loans, the blunt truth about medical expenses, marijuana, and your tax returns, and how to figure out your finances when you’re single. Should Your Student Loans and Your Spouse’s Get Hitched? A look at the […]

Continue reading...