Today’s top story: Credit card debt has dropped, but inflation may change that. Also in the news: How to make summer 2022 travel plans that actually happen, how the end of the mask mandate could increase travel costs, and how much house you can get for $350K. Credit Card Debt Has Dropped, But Inflation May […]
Recent Blog Posts
Find out and fix what big data says about you
I thought I knew all about the information that consumer reporting agencies were collecting on me. Then I discovered The Work Number — a database that reports every paycheck I’ve received from my company, with net and gross amounts, going back to my hire date six years ago. Another consumer reporting agency shows the results […]
Monday’s need-to-know money news
Today’s top story: 8 tactics to break the credit card debt cycle. Also in the news: A new episode of the Smart Money podcast on wedding guest expenses and vetting your mortgage lender, the bar that lets you buy drinks with wands, and how to see through inflation prices. 8 Tactics to Break the Credit […]
Q&A: Leaving IRAs to charity
Dear Liz: In responding to the reader who asked how to plan around the tax consequences of leaving a traditional IRA to a family member, I wish you had mentioned the tax benefit of naming a charity as the beneficiary of a traditional IRA. There is no tax on the distribution of a traditional IRA […]
Q&A: Retirement account distribution rules
Dear Liz: My husband is 71 and retired. We have started withdrawing from one of his retirement funds but I am unsure if there is a minimum amount that needs to be withdrawn per year. We have a few retirement funds in different places. Do we have to withdraw from each or just a minimum […]
Q&A: When a full-service brokerage doesn’t want your business anymore
Dear Liz: Can a brokerage firm drop a 26-year customer because their account falls below $200,000? I have been told that they don’t normally have accounts under that limit. Of course, my balance is lower because of the market slide. This policy doesn’t seem very ethical. Ten years ago, I had another account with them […]