Dear Liz: I turned 72 in December and took my first required minimum distribution. With the goal of purchasing property next year, should I put the funds — $6,000 — in my Roth IRA or just put it in my bank savings account? Also, should I convert my traditional IRA to a Roth or just […]
Recent Blog Posts
Q&A: HELOC situation improves
Dear Liz: Your recommendation that a retired couple consider a home equity line of credit to pay for home repairs astonished me. According to news reports, HELOCs are becoming harder and harder to find. Banks that still offer them have gotten stricter. And to suggest a reverse mortgage for a couple who only need $10,000, […]
Friday’s need-to-know money news
Today’s top story: How to get more joy while giving to good causes. Also in the news: How a financial therapist can help shift your money mindset, a new episode of the Smart Money podcast on making your dream life, and 6 options for when you buy now and can’t pay later. How to Get […]
Wednesday’s need-to-know money news
Today’s top story: 5 things you can do to fortify your finances. Also in the news: How hotel elite status is shaping up in 2022, what airline elite status looks like in 2022, and where to get reimbursed for spoiled food after a power outage. Struggling? Here are 5 things you can do to fortify […]
Tuesday’s need-to-know money news
Today’s top story: Inflation can spell disaster for some 40% of Americans. Also in the news: 5 reasons why ‘Shoulder Season’ is the best time to travel, a new episode of the Smart Money podcast on paying for college, and how a strong college application remains possible even with transcript gaps. Inflation Can Spell Disaster […]
How to get more joy while giving to good causes
We may think spending money on ourselves will make us happier than spending it on someone else. That belief can make it hard to carve money out of our budgets to give to good causes. But research shows that spending money on others is more likely to make us happy. This seems to be a […]