Ask Liz Weston

Get smart with your money

Liz Weston

Thursday’s need-to-know money news

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Today’s top story: 5 divorce mistakes that can cost you. Also in the news: How to achieve financial independence without retiring early, consolidated debt and how to do it right, and where to go when you have a travel insurance problem.

5 Divorce Mistakes That Can Cost You
Curb your social media.

How to Achieve Financial Independence Without Retiring Early
A worthwhile goal.

What Is Consolidated Debt and How to Do It Right in 2019
Don’t start charging again.

Where To Go When You Have A Travel Insurance Problem
Being your own best advocate.

Wednesday’s need-to-know money news

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Today’s top story: This winter, your credit should freeze, too. Also in the news: 5 keys to picture-perfect TV buying, when to hire someone to do your taxes, and 5 things consumers should watch out for now that the Fed hasn’t raised rates.

This Winter, Your Credit Should Freeze, Too
Protecting your personal info.

5 Keys to Picture-Perfect TV Buying
Just in time for the Big Game.

When to Hire Someone to Do Your Taxes
When Turbo Tax isn’t enough.

5 things consumers should watch for now that the Fed has NOT raised rates
Bad news for savers.

Tuesday’s need-to-know money news

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Today’s top story: Could you live on your retirement savings for 23 years? Also in the news: How a new pilot manages $116,000+ in loans, what your tax refund will look like this year, and the top 10 colleges for financial aid.

Could You Live on Your Retirement Savings for 23 Years?
How long will your money last?

Debt Diary: How a New Pilot Manages $116,000+ in Loans
A payoff strategy.

What Your Tax Refund Will Look Like This Year
It might not be as much as you think.

The top 10 colleges for financial aid
Some colleges are quite generous.

5 divorce mistakes that can cost you

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If you’re getting a divorce, it pays to keep quiet on social media, says New York divorce attorney Jacqueline Newman. Trashing a soon-to-be ex or boasting about your great new life can complicate divorce negotiations.

One client’s husband, for example, insisted he couldn’t afford a proposed settlement. Then, he inadvertently gave Newman leverage to get a better deal.

“He bragged (on social media) about the great vacation he just took and the big deal he just closed,” Newman says. “And I said, ‘Thank you very much.’”

Oversharing isn’t the only mistake people make when their marriages are ending. In my latest for the Associated Press, four more mistakes that can have significant financial consequences.

Monday’s need-to-know money news

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Today’s top story: How to prepare for the next recession. Also in the news: How to grow your tax refund, everything you need to know to file your 2018 taxes, and how to wean grown kids off of your payroll.

There’s Always a Next Recession, so Be Prepared
Soften the blow of the next economic downturn.

If You’re Expecting a Tax Refund, Make a Plan to Grow It
Invest your refund instead of blowing it.

Everything You Need to Know to File Your 2018 Taxes
A handy list.

How to wean grown kids off your payroll, freeing up more retirement cash
Cutting the purse strings.

Q&A: There can be legal pitfalls in DIY estate planning

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Dear Liz: You answered a letter from a reader who was asked to be the executor of a friend’s estate. The reader was worried about being pulled into a lawsuit because the friend planned to disinherit a brother. You mentioned that the friend’s estate will pay the legal fees and other expenses if the brother contests the will and that executors can be compensated for their time. You also should have mentioned the importance of hiring an experienced attorney when disinheriting someone because there are a lot of ways this can go wrong.

Answer: Even Nolo, the self-help legal publisher, warns people that they need to hire an attorney if their estate plans are likely to be contested. A do-it-yourself estate plan can wind up costing far more than it saves if the parties wind up in court.