Ask Liz Weston

January 4, 2021 By Liz Weston Leave a Comment

Monday’s need-to-know money news

Today’s top story: To raise financially savvy kids, give money lessons a reboot. Also in the news: A new episode of the Smart Money podcast on 2021 money goals, how to discuss family finances in a crisis, and giving your wallet a good cleaning. To Raise Financially Savvy Kids, Give Money Lessons a Reboot Going […]

Filed Under: Liz's Blog Tagged With: crisis, family finances, kids and money, mobile wallets, money lessons, Smart Money podcast

January 4, 2021 By Liz Weston 4 Comments

Q&A: When your spouse dies, there are immediate financial steps to take. Here’s a checklist

Dear Liz: What financial steps need to be taken right after your spouse dies? Answer: Your attorney or accountant may have detailed checklists to guide you through the many tasks involved. In general, though, you’ll be settling the estate, notifying appropriate parties, signing up for any benefits and shutting down potential identity theft. To start: […]

Filed Under: Banking, Estate planning, Q&A Tagged With: checklist, post-death finances, q&a

January 4, 2021 By Liz Weston Leave a Comment

Q&A: How to freeze your credit

Dear Liz: A few months ago you mentioned creating credit freezes that can be simply turned on and off at the customer’s convenience at no cost. However, you didn’t leave a website or an avenue to pursue a credit freeze with all three credit bureaus. Please provide more information on the steps in this process […]

Filed Under: Credit & Debt, Q&A Tagged With: credit freeze, q&a

January 4, 2021 By Liz Weston Leave a Comment

Q&A: It’s not too late for Mom’s stocks

Dear Liz: My mother is 68. She has had a sizable amount of money in an old work 401(k) for several years now. Unfortunately, it has been stuck in the most conservative low-growth fund for more than 10 years during a time of great stock market growth. If she changed it to a more aggressive […]

Filed Under: Investing, Q&A Tagged With: Investing, q&a, Stocks

December 28, 2020 By Liz Weston Leave a Comment

Q&A: The perils of procrastination can be huge where finances are concerned

Dear Liz: My husband was killed in 2016 and was self-employed for the last three years of his life. I hadn’t gotten around to filing his taxes until earlier this year in June. At first the Social Security rep told me we were approved for survivor benefits but within the hour changed her decision. She […]

Filed Under: Estate planning, Q&A, Social Security Tagged With: q&a, Social Security, survivor benefits

December 28, 2020 By Liz Weston Leave a Comment

Q&A: U.S. is best when picking a trustee

Dear Liz: My wife and I have a revocable living trust and we would like to change our primary successor trustee to someone who lives in the United Kingdom. The new trustee is not related to us nor is he a U.S. citizen. Can this be done and would our trust then become a foreign […]

Filed Under: Estate planning, Q&A Tagged With: Estate Planning, q&a, trustee

December 22, 2020 By Liz Weston Leave a Comment

Tuesday’s need-to-know money news

Today’s top story: What the new COVID relief package means for you and your money. Also in the news: Second relief bill and vaccine rollout attract fraudsters, taking advantage of student loan breaks before 2020 ends, and why a down payment is just the beginning of buying a new home. What the New COVID Relief […]

Filed Under: Liz's Blog Tagged With: COVID relief, down payments, fraud, home expenses, real estate, scams, Student Loans, vaccines

December 21, 2020 By Liz Weston Leave a Comment

Monday’s need-to-know money news

Today’s top story: 5 holiday disasters that are covered by home insurance. Also in the news: How to get started on a post-pandemic budget recovery plan, a new episode of the Smart Money podcast on lessons listeners learned during the pandemic, and 3 mistakes to avoid when you buy a recreational vehicle. 5 Holiday Disasters […]

Filed Under: Liz's Blog Tagged With: financial lessons, pandemic, post-pandemic budget, recreational vehicles, RVs, Smart Money podcast

December 21, 2020 By Liz Weston Leave a Comment

Q&A: Investing can be scary. How to overcome your anxiety

Dear Liz: I’m 53 and a debt-free homeowner. I’m employed but don’t have a 401(k) and have only about $80,000 in savings. I realize I need to put that money to work somewhere but I just freeze when it comes to trusting myself or someone else to handle it. Markets lately scare me to death, […]

Filed Under: Investing, Q&A Tagged With: Investing, q&a

December 21, 2020 By Liz Weston Leave a Comment

Q&A: Weighing portfolio rebalancing costs

Dear Liz: I constantly read about the need to “rebalance” portfolios each year or more often to make sure you have a specific distribution of stocks, bonds and cash. However, selling stocks can create capital gains that will be taxed. An advisor rebalanced my portfolio and the result for me was an increase in capital […]

Filed Under: Financial Advisors, Q&A Tagged With: financial advising, q&a

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