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 […]
Recent Blog Posts
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 […]
Q&A: How young people can build their credit
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 […]
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 […]