Monday’s need-to-know money news

Today’s top story: How to get your parent off the hook for your student loans. Also in the news: A new episode of the Smart Money podcast on open enrollment and HSA vs. HFA, getting a side gig while on unemployment, and 5 financial moves you need to make before the end of 2020 How […]

Continue reading...

Q&A: Your prized collection isn’t going to sell itself

Dear Liz: I am in the process of winding down my duties as executor of the estate of a 91-year-old gentleman who, like the reader who wrote to you, had a prized collection. I had repeatedly urged him to dispose of his prized things. I reasoned that because he was retired and had the time, […]

Continue reading...

Q&A: His new job won’t hurt future Social Security benefits

Dear Liz: I am 67 and currently receiving a Social Security survivor’s benefit based on my deceased spouse’s work record. At 70, I plan to switch to my own Social Security retirement benefit. I’ve been offered a part-time position with a charity that I’d like to accept. However, I am concerned about how it will […]

Continue reading...

Q&A: Refinancing brings tax questions

Dear Liz: I recently refinanced my house and got $9,400 cash back. I also received a $2,400 escrow check from my previous mortgage lender. Is this money taxable? Should I put away a certain percentage of it to pay those taxes? My plan is just to put it back into household repairs (fireplace, painting, etc.). […]

Continue reading...

Q: They paid off the mortgage. Then the credit score fell. Can that be right?

Dear Liz: My wife and I recently paid off our mortgage. We have no other debt. Soon after, I received a message from Experian that my FICO score, which has been perfect for quite a while, was reduced by 31 points. What justifies such action, and what do I need to do to bring up […]

Continue reading...

Friday’s need-to-know money news

Today’s top story: The upsides to thinking about when you will die. Also in the news: The upside to ETFs, how debt collectors are invading social media, and 6 financial military benefits for service members and veterans. The Upsides to Thinking About When You Will Die A good life expectancy estimate helps you know how […]

Continue reading...

Thursday’s need-to-know money news

Today’s top story: Which airline brands have the best and worst fees. Also in the news: How to get preapproved for a credit card, which hotel brands have the best and worst fees, and why you should never quit your job without a plan. Airline Fee Rankings: Which Brands Have the Best (and Worst) Fees? […]

Continue reading...

Wednesday’s need-to-know money news

Today’s top story: Don’t skip these steps when borrowing parent student loans. Also in then news: How to build a home office without breaking the bank, medical student borrowing slows, and the easiest way to lower the interest rate on your credit card. Don’t Skip These Steps When Borrowing Parent Student Loans Assess your financial […]

Continue reading...

The upsides to thinking about when you will die

Social Security’s life expectancy calculator predicts I’ll live to about 86. An insurance company’s version says I should expect to die at 98. A longevity calculator created by actuaries demurs, putting the odds at only 32% that I’ll make it to 95. Eventually, I’ll find out which life expectancy calculator was most accurate. In the […]

Continue reading...

Monday’s need-to-know money news

Today’s top story: 4 tax triggers new investors need to know about. Also in the news: A new episode of the SmartMoney podcast on identity theft and financial stability, how to compare Medicare Advantage plans, and how to save your finances by avoiding these common mistakes. 4 Tax Triggers New Investors Need to Know About […]

Continue reading...