Dear Liz: Our 23-year-old daughter has a low-limit credit card from her bank, primarily to build her credit history. For the same purpose, we also added her as an authorized user on one of our credit cards (yes, we can trust her). When she checked her credit reports recently at annualcreditreport.com, one of the agencies […]
Recent Blog Posts
Monday’s need-to-know money news
Today’s top story: Student loan pause is extended. Also in the news: A new episode of the Smart Money podcast on what our listeners accomplished this year, 6 Instagram tips for small-business owners, and for young adults, building credit starts now. Student Loan Pause is Extended Payments will resume May 2nd. Smart Money Podcast: What […]
Q&A: Safe deposit box shortcomings
Dear Liz: You recently advised against keeping one’s will in the bank safe deposit box. That was on the grounds that upon death, the bank could seal the box. My daughter is named on my box (she is also named as executrix) — that is, the bank ran her through several hoops, and the result […]
Q&A: Storing will and trust documents
Dear Liz: You recently advised a person to leave their original will or trust with their attorney. As a practicing attorney, I cannot tell you how many times original wills and trusts have been lost as the attorney that prepared the documents retired or died before the client. There are requirements to inform clients of […]
Q&A: Why home equity loans are a better option than credit cards
Dear Liz: My husband is 68, I am 70, both of us are retired and on Social Security. We have little in savings. My husband wants to charge $10,000 to a low-interest credit card to pay for a new furnace and water heater. He plans to pay the minimum each month and at the end […]
Why a 401(k)-to-IRA rollover could be a mistake
If you leave a job or retire, you’re often encouraged to roll over your 401(k) or other workplace retirement account into an individual retirement account. That might not be the right move. In my latest for the Associated Press, why having more investment choices isn’t necessarily better.