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 […]
Recent Blog Posts
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 […]
This week’s money news
This week’s top story: As rates fall, should you refinance your student loans? In other news: Weekly mortgage rates rise for 6th straight week, where the candidates stand on personal finance issues, and how credit cards can help you navigate major life changes. As Rates Fall, Should You Refinance Your Student Loans? Consider refinancing private student loans […]
Q&A: Homeownership can be a joy. It’s also full of complicated financial decisions
Dear Liz: We replaced our original, fire-vulnerable cedar shake roof with 40-year asphalt shingles 17 years ago. I know that home improvements are added to the basis for capital gains calculation when selling the home. But when we get ready to sell the home in a few years, should the actual cost on the project be […]