Ask Liz Weston

May 28, 2019 By Liz Weston

Q&A: Consult a pro when planning elder care

Dear Liz: My parents and I are discussing the best ways to protect their assets if one of them must live in a nursing home. Their home is paid off, and we were wondering if adding my name on the deed will secure the home from a mandatory sale for caregiving expenses. Please note, I […]

Filed Under: Elder Care, Q&A, Taxes Tagged With: elder care, q&a, Taxes

May 28, 2019 By Liz Weston

Q&A: How to make retirement saving a priority

Dear Liz: One thing I like about saving for retirement with an IRA is that I can wait until April 15 of the following year and then just contribute a lump sum for whatever I can afford to put in that year. Is there anything similar with 401(k)? Or do I have to have the […]

Filed Under: Q&A, Retirement Tagged With: 401(k), q&a, Retirement, retirement savings

May 23, 2019 By Liz Weston

Thursday’s need-to-know money news

Today’s top story: Getting real about health costs in retirement. Also in the news: Watch your credit card rewards pile up with these 5 tips, learning the different types of mutual funds, and how hackers can steal your data at airports. Let’s Get Real About Health Costs in Retirement Making costs easier to predict. Watch […]

Filed Under: Liz's Blog Tagged With: airport hackers, credit card rewards, health care costs, mutual funds, Retirement, tips

May 22, 2019 By Liz Weston

Wednesday’s need-to-know money news

Today’s top story: The lowdown on new tools to jump-start your credit. Also in the news: The new credit card that pays cash-back rewards for on-time payments, tuition discounts grow at private colleges and universities, and what to do in your 20s and 30s to be set in your 60s and 70s. The Lowdown on […]

Filed Under: Liz's Blog Tagged With: college tuition, Credit, credit card rewards, Credit Cards, Credit Score, Experian Boost, retirement savings

May 21, 2019 By Liz Weston

Tuesday’s need-to-know money news

Today’s top story: Why your financial aid may plummet after freshman year. Also in the news: 3 tricks to help you shop less, how FICA tax and other withholding taxes work on your paycheck, and why you should plan to retire even if you don’t plan on retiring. Why Your Financial Aid May Plummet After […]

Filed Under: Liz's Blog Tagged With: college tuition, FICA, financial aid, Retirement, retirement planning, shopping habits, tips, withholding taxes

May 21, 2019 By Liz Weston

Let’s get real about health costs in retirement

You won’t pay for health care in retirement with one lump sum. That’s the way these expenses are often presented, though, and the amounts are terrifying. Fidelity Investments, for example, says a couple retiring in 2019 at age 65 will need $285,000 for health expenses, not including nursing home or other long-term care. The Employee […]

Filed Under: Liz's Blog Tagged With: health care, health care costs, Retirement

May 20, 2019 By Liz Weston

Monday’s need-to-know money news

Today’s top story: The average credit score is rising. Also in the news: 3 money-saving tips for buying a washer, a statute of limitations on student loans, and why you should always buy airfare on a credit card. Credit Scores Are Rising — Is Yours, Too? Every little bit matters. Want to Clean Up? 3 […]

Filed Under: Liz's Blog Tagged With: airfare, Credit Cards, Credit Scores, statute of limitations, Student Loans, tips, travel, washing machines

May 20, 2019 By Liz Weston

Q&A: Here’s a case where taking retirement funds early might make sense

Dear Liz: My wife and I are both retired and receiving annuity payments. In addition, we have about $1.3 million in traditional IRAs and $350,000 in another annuity that will pay us each about $1,000 per month. We are moving from Texas to Arkansas sometime in the next year. Texas has no state income tax […]

Filed Under: Q&A, Retirement Tagged With: mortgage, q&a, real estate, Retirement, retirement savings

May 20, 2019 By Liz Weston

Q&A: Bad Social Security math

Dear Liz: Regarding when to begin receiving Social Security payments: I would think that people should begin taking payments as early as possible if they can invest it rather than spend it, as a lot of money is “left on the table” between ages, say, 62 and 70. Your thoughts? Answer: That argument was more […]

Filed Under: Q&A, Social Security Tagged With: q&a, Retirement, Social Security

May 20, 2019 By Liz Weston

Q&A: Tax take on inherited house

Dear Liz: In a recent column, you quoted an attorney saying that if an inherited home in a trust is sold for its value at the date of death, the trust won’t owe capital gains. We sold our family’s house in 2007 within a month of my mother’s death and the government took half. Fortunately […]

Filed Under: Inheritance, Q&A, Real Estate Tagged With: capital gains tax, estate tax, Inheritance, q&a, real estate

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