Today’s top story: More than half of travelers have the same New Year’s resolution. Also in the news: Saving on a new car from the factory, how to travel to Super Bowl LVI on a budget, and how to help your parents navigate health care in retirement. More Than Half of Travelers Have the Same […]
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Tuesday’s need-to-know money news
Today’s top story: 5 banking facts to fortify your finances. Also in the news: Taking a new look at banking in 2022, 6 predictions for small businesses, and how to stop wasting your gift cards. 5 Banking Facts to Fortify Your Finances in 2022 2022. New year. New you. New look at banking? It would […]
Monday’s need-to-know money news
Today’s top story: How to help your parents navigate health care in retirement. Also in the news: What to buy (and skip) in January, borrow a 2022 money goal from a finance nerd, and would you relocate for $10K? How to Help Your Parents Navigate Health Care in Retirement Try these tips to be the […]
Q&A: When pension trumps Social Security
Dear Liz: I am in my third marriage. My first two marriages each lasted 10 years. My spouses worked in jobs requiring them to pay into Social Security. I am currently retired (since 1999) and worked for a city government my entire career. I currently receive a pension from the city. Am I entitled to […]
Q&A: Taxes on retirement account withdrawals
Dear Liz: I would love to give my grandchildren money, but I don’t want to pay the income tax on withdrawals from my IRA or 401(k). Will they get it tax-free when I die? Answer: Unfortunately, no. Withdrawals from retirement accounts are generally taxable, whether the person making the withdrawals is the original contributor or […]
Q&A: Adding sister to a house deed
Dear Liz: A reader recently asked about giving a rental house to the sister that has been living in it for 10 years. You mentioned that the reader would have to file a gift tax return since there is a max of $15,000 for a gift exemption. Couldn’t the owner simply add the sister to […]