Dear Liz: I’m retired, age 67. I have a SEP that requires me to pay taxes on any withdrawals. I also have standard savings and checking accounts. The SEP has been earning 13% to 14% annually, and of course the savings account earns very little. Where does it make sense for me to place savings […]
Recent Blog Posts
Q&A: Your accounts are likely to outlive you. How to safely store that information
Dear Liz: I’m attempting to become as paperless as possible while also organizing all of our financial information into one place so if one of us dies, the other (or our child) will be able to access everything in one concise source. My current system is downloading all bank and investment accounts and medical payments […]
Tuesday’s need-to-know money news
Today’s top story: Need cash? Your brokerage account may offer a handy solution. Also in the news: 5 tools to make your remote-work business click, how to chop remodeling costs when wood prices are high, and how to stop a gym from charging your card after canceling your membership. Need Cash? Your Brokerage Account May […]
Monday’s need-to-know money news
Today’s top story: What to do if your home insurer won’t renew your policy. Also in the news: A new episode of the SmartMoney podcast on job scams and maxing out a Roth IRA, how to hand mixed-income friendships, and student loan payments come back for real Feb. 1st. What to Do If Your Home […]
Q&A: Who inherits when estranged spouse dies?
Dear Liz: I lost my husband a year ago. We had been married since 1997 but separated 10 years ago. Does the house belong to me or my 22-year-old son? Also, how do I find out if he had life insurance without being charged a lot? His girlfriend said he did. Answer: The two most […]
Q&A: Here’s a retirement dilemma: Pay off the house first or refinance?
Dear Liz: My husband and I are retired, with enough income from our pensions and Social Security to cover our modest needs, plus additional money in retirement accounts. We have owned our home for 35 years but refinanced several times and still have 15 years to go on a 20-year mortgage. With rates so low, […]