If your home’s value has soared, congratulations. If you decide to sell, beware. Financial advisor James Guarino says some clients don’t realize that home sale profits are potentially taxable until their returns are prepared — and by that time, they may have spent the windfall or invested the money in another house. ”They’re not happy […]
Recent Blog Posts
Monday’s need-to-know money news
Today’s top story: What rising prices could mean for your retirement plans. Also in the news: A new episode of the Smart Money podcast on student debt and money baggage, how guests can honor their budgets in peak wedding season, and ways to mitigate credit card use during inflation. What Rising Prices Could Mean for […]
Q&A: A widow’s Social Security earnings problem
Dear Liz: My dear friend lost her husband a few years ago. The husband did something wrong with working and collecting Social Security, so they are now withholding her $2,000 monthly Social Security check, which is devastating to her. Can she be punished for what he did unbeknownst to her? She is stuck and doesn’t […]
Q&A: Updating old trusts, estate plans
Dear Liz: I am 97 with two sons and have a trust prepared in 1991, shortly before my husband died. You warned there can be problems with bypass trusts created in older estate plans. I suspect that’s what I have. The attorney who created my trust died years ago, so I asked my son to […]
Q&A: How to kick your ex off the credit cards
Dear Liz: My divorce was final in 2016. My ex and I divided our credit cards as part of the settlement. I have several joint credit cards with high credit limits and zero balances. I have used them once a year to keep them in active status. Do I consider canceling them or do I […]
Friday’s need-to-know money news
Today’s top story: Dealing with death? There’s an app for that. Also in the news: 4 ways to save on family travel without stressing, how to avoid the latest cryptocurrency scam, and the only states that teach personal finance. Dealing with death? There’s an app for that Planning for death and navigating life after a […]