Ask Liz Weston

Q&A: IRA investments and minimum distributions

Dear Liz: I have an IRA invested in stocks, bonds and Treasury bonds. I’m 60 now and am hoping to retire in a few years. When I stop work and start pulling money from my IRA, can I withdraw a security or Treasury bond? Or must I first sell the security or Treasury bond, and then […]

Taking these financial steps could help post-divorce recovery

Jamie Lima remembers his divorce six years ago as one of the most emotionally draining and financially challenging experiences of his life. As a result, he resolved to use his professional background as a certified financial planner to help other people going through similar situations. “I want to make sure other people don’t step on […]

This week’s money news

This week’s top story: 2022 mortgage applicants sought larger loans, faced deeper debt. In other news: 5 roadblocks to improving credit, reframe gift traditions, and a passport renewal by mail. 2022 Mortgage Applicants Sought Larger Loans, Faced Deeper Debt A look at 2022 mortgage application data from the Consumer Financial Protection Bureau shows some of the […]

Q&A: A capital gains surprise

Dear Liz: My son has decided to settle abroad and wants to purchase a home. I made a gift of stock valued at $17,000, which had significant gains. My broker indicated that giving him the stock would avoid capital gains on my part, and he could cash the stock in at that value, also without accruing […]

Q&A: Their variable-rate loan is out of control. What should they do now?

Dear Liz: We paid a lot for our house, and a lot to renovate it seven years ago. My banker recommended taking a low-interest loan against our assets at the bank instead of selling investments to pay for the renovations, which cost $900,000. The bank offered a rate of prime plus half a point. Up until a […]

How to reduce your ‘widow’s penalty’

After a spouse dies, the survivor often ends up paying higher taxes on less income — something known by accountants and financial planners as the “widow’s penalty,” because women typically outlive their husbands. Couples who know what’s coming often can take steps to soften the penalty’s effect, but too many don’t think far enough ahead, says Barbara […]

This week’s money news

This week’s top story: What to expect if the Credit Card Competition Act passes. In other news: How to avoid the cost, risk and stress of unneeded medical tests, how to get the best interest rate on your business loan, and get ready for an even busier holiday travel season in 2023. What to Expect if […]

Q&A: Home equity in community property states

Dear Liz: I live in California and have been married for 20 years. My spouse bought our home before our marriage and my name is not on the title as a co-owner. However, I contribute to most of our monthly financial obligations which include paying the mortgage, property taxes, etc. In the event of death or […]

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