Ask Liz Weston

March 23, 2020 By Liz Weston

Q&A: The value of waiting

Dear Liz: This is a follow-up question to one you recently answered about tapping 401(k)s in order to delay the start of Social Security. I am 63 and retired early with a good pension that fully covers my basic living expenses. Any additional money would only be “gravy” for vacations and travel. Would I be […]

Filed Under: Follow Up, Q&A, Social Security Tagged With: follow up, q&a, Social Security

March 23, 2020 By Liz Weston

Q&A: Now is a good time to get a financial tuneup. Here’s how

Dear Liz: I’m hoping you could provide recommendations, referrals or tips on how to help me manage my money. I’m seeking a financial planner who can help me pay my bills on time, learn to budget and pay off credit card debt. Answer: When you’re struggling with the basics, a financial fitness coach or an […]

Filed Under: Banking, Financial Advisors, Q&A Tagged With: financial advisor, financial coach, financial counseling, q&a

March 20, 2020 By Liz Weston

Friday’s need-to-know money news

Today’s top story: The IRS’ new tax-filing deadline is July 15th. Also in the news: Tax traps that side hustlers should avoid, what not to do when spring cleaning your finances, and what you need to know about the Families First Coronavirus Response Act. The IRS’ New Tax-Filing Deadline Is July 15. Here’s What to […]

Filed Under: Liz's Blog Tagged With: Families First Coronavirus Response Act, financial spring cleaning, IRS, July 15th, side hustles, tax filing deadline, tax traps

March 19, 2020 By Liz Weston

Thursday’s need-to-know money news

Today’s top story: Relief checks may be coming, but scammers are already here. Also in the news: 3 ways credit cards can help you ride out a crisis, your student loan bill is still due during a pandemic, and how to save energy while you’re stuck at home. Relief Checks May Be Coming, but Scammers […]

Filed Under: Liz's Blog Tagged With: Coronavirus, Credit Cards, energy saving tips, relief checks, scams, Student Loans, tips

March 18, 2020 By Liz Weston

Wednesday’s need-to-know money news

Today’s top story: IRS tax payments are now due in July. Here’s what that means for you. Also in the news: Taking your banking online during social distancing, why a used EV should be your teen’s first car, and what to do about your rewards travel plans. IRS Tax Payments Are Now Due in July. […]

Filed Under: Liz's Blog Tagged With: first car suggestions, IRS, online banking, reward travel plans, tax payments, teens and driving

March 18, 2020 By Liz Weston

Tax traps that side hustlers should avoid

Millions of Americans earn extra money outside their regular jobs — as ride-hailing drivers, Airbnb hosts, eBay sellers and freelancers of all kinds. Their side hustle income may help make ends meet, but it also can create tax traps. Side gigs usually count as self-employment, which triggers different rules, additional tax forms and plenty of […]

Filed Under: Liz's Blog Tagged With: side gigs, side hustles, Taxes

March 17, 2020 By Liz Weston

Tuesday’s need-to-know money news

Today’s top story: Even in a financial crisis, you have options. Also in the news: When will it make sense to travel again, robo-advisors bring access to a new crop of investors, and Apple Card will let you skip a payment this month. Even in a Financial Crisis, You Have Options Take a deep breath. […]

Filed Under: Liz's Blog Tagged With: Apple Card, financial crisis, financial help, Investing, payment options, robo-advisors, traveling

March 16, 2020 By Liz Weston

Monday’s need-to-know money news

Today’s top story: Your last chance for high CD rates is right now. Also in the news: How a credit card can help home improvement plans, how to search for scholarships without getting lost in spam, and a new episode of the SmartMoney podcast on credit scores. Your Last Chance for High CD Rates Is […]

Filed Under: Liz's Blog Tagged With: CDs, Credit Cards, Credit Scores, home improvement, interest rates, scholarships, SmartMoney podcast, tips

March 16, 2020 By Liz Weston

Q&A: Which to tap first: IRA or Social Security?

Dear Liz: I retired in 2015 but have not started Social Security. My wife and I are living on a pension and savings. I read an article saying that taking early IRA withdrawals and holding off on Social Security can help minimize the so-called tax torpedo, which is a sharp rise and fall in marginal […]

Filed Under: Q&A, Retirement, Social Security Tagged With: IRA, q&a, retirement savings, Social Security

March 16, 2020 By Liz Weston

Q&A: This innocent oversight can torpedo your credit scores

Dear Liz: My wife just had a credit card closed due to late payments, and we need some advice. It was a mileage card that she stopped using, but in November she made a charge for $120. She forgot about the charge, and in December they added the annual $60 fee. We weren’t monitoring the […]

Filed Under: Credit Scoring, Q&A Tagged With: Credit Cards, Credit Score, q&a

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