Dear Liz: I live in Southern California and my homeowners insurance renews at the end of August. Should I consider buying earthquake insurance? Answer: Insurance is meant to protect against catastrophic losses that we couldn’t easily pay out of pocket. If you don’t have much equity in your home, or you’re willing to walk away from the […]
Recent Blog Posts
Q&A: Is one credit card better than two?
Dear Liz: I have a long-standing credit card with a national bank. As I travel a lot, I just opened a travel rewards card with the same issuer. I would prefer to keep the new card and close the old one, rather than keep two cards active with the same issuer. I understand from reading your […]
Q&A: Speaking of credit cards, what if a spouse has a balance when they die?
Dear Liz: When a spouse dies, is the surviving spouse responsible for outstanding credit card debt from a card issued only in the deceased’s name? Answer: In community property states — including Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington and Wisconsin — debts incurred during marriage are usually considered owed by both spouses, even if […]
This week’s money news
This week’s top story: How to get into college without applying. In other news: Solar panels in Ohio, project 2025 calls for big changes to Medicare, Medicaid, and 5 ways to practice financial self-care. Direct Admissions: How to Get Into College Without Applying If your senior year of high school approaches, direct admissions can help you […]
Q&A: When landlords move in to an old rental, are tax breaks part of the deal?
Dear Liz: My husband and I bought a single-family home as a rental property in 1988. We paid $135,000. The tenants moved out in February and we are doing major upgrades now. If we moved into the property and sold it after two years, would the first $500,000 of gain be excluded from income tax? The […]
Q&A: An inheritance sounds great, but what will it mean for my free meds?
Dear Liz: I live on Social Security alone, which puts me at the poverty level. The state pays for medical and dental premiums, so I have no copay for doctor visits or prescriptions. I was just notified that I was left $175,000. If this shows up in my bank account, I will lose all the medical […]