Dear Liz: President-elect Donald Trump’s proposed tariffs have me wondering if now is the time to purchase new kitchen appliances, something I have long delayed doing. If he follows through on his plans, I don’t know how long it would be before the new tariffs take effect. Answer: Tariffs of up to 100% on imported products could […]
Recent Blog Posts
Q&A: A husband is deported, leaving his American wife with questions about tax filings
Dear Liz: I am a 56-year-old married U.S. citizen. My husband of six years was deported to the United Kingdom. Appeals to U.S. Citizenship and Immigration Services were denied. He can never return. I remain in the U.S. and will do so at least until I retire, likely at age 72. What status should I claim […]
Q&A: Why Every Adult Needs a Financial and Healthcare Power of Attorney
Dear Liz: Please tell your audience that if they have any bank accounts, loans, credit cards or utilities, they should legally appoint someone to make decisions for them if they should become ill or injured. The backstory: My then-40-year-old son went to the hospital with a stomachache. He fortunately told the hospital I could make healthcare […]
Q&A: How to Choose a Trusted Financial Advisor for Long-Term Care Insurance and Asset Protection
Dear Liz: My 68-year-old husband has Alzheimer’s disease. I thought we were responsible, having a nice nest egg of over $2 million, a house that is paid off and no debts. However, I am now terrified that it will all be depleted because of long-term care costs. Per your advice, I consulted a fee-only financial planner […]
Q&A: Clarification on How Social Security Benefit Estimates Are Calculated
Dear Liz: A while back, you responded to a letter writer that Social Security’s estimates of the amount a person will receive assumes the person will continue working until they apply for benefits. I thought the amount a person receives was based on the average of the highest 30 years’ of earnings over a person’s […]
Q&A: Rolling over a 401(k) account after starting a new job — at age 73
Dear Liz: My wife, who turned 73 this year, worked for a company until Aug. 31. She started a new job with another company the following day. She plans to roll the 401(k) from the previous company into the 401(k) of the new company. Would she need to withdraw her required minimum distribution from the […]