Dear Liz: I’ve been researching the backdoor Roth IRA and I am finding some conflicting information regarding taxes owed on the conversions. I have two sizable rollover IRAs and one small ($1,600) traditional IRA. Can I make an after-tax contribution to the traditional IRA and convert that to a Roth and pay tax only on […]
Recent Blog Posts
Q&A: Seller financing and credit reporting
Dear Liz: I bought a home and the seller financed the sale. I have made all payments on time, but that’s not reflected on my reports at the three credit bureaus. What can I do to get my mortgage payments acknowledged on my credit reports? Answer: One of the advantages of seller financing — where […]
Here’s why emergency savings funds never go out of style
Dear Liz: I was a fortunate individual and able to save enough money to cover my expenses for at least six months in case I became unemployed. Now I am retired with a fair amount of guaranteed monthly income through my Social Security and pension benefits. Any suggestion on what to do with that savings […]
Friday’s need-to-know money news
Today’s top story: How to reclaim money lost to COVID disruptions. Also in the news: How phone calls can save you money, start early to get your house retirement-ready, and which states have extended their tax deadlines. It’s Not Too Late to Reclaim Money ‘Lost’ to COVID Disruptions A chargeback can be a helpful tool, […]
Thursday’s need-to-know money news
Today’s top story: Start early to get your house retirement-ready. Also in the news: Why these federal student loan borrowers are out of luck, 5 options for people who can’t afford their tax bills, and why big tax refunds aren’t as great as they seem. Start Early to Get Your House Retirement-Ready Most homes aren’t […]
Wednesday’s need-to-know money news
Today’s top story: College costs far outpace wages many students could earn. Also in the news: A look at earning hotel elite status in 2021, how California theme parks have adjusted to the pandemic, and how to claim your $10,200 unemployment tax break. College Costs Far Outpace Wages Many Students Could Earn Working can help […]