Dear Liz: I’m a widow about to go into independent living which means I will be selling my home. I need to find the best place to park my money to have payments to me but still earning on the balance. What would you suggest? Answer: FDIC-insured savings accounts at online banks can earn a higher interest […]
Recent Blog Posts
Q&A: Are businesses allowed to charge me to use my credit card?
Dear Liz: Lately, I’ve encountered businesses charging a fee to use a credit card either online or at the point of service. This practice seems to be steadily increasing, as I have been hit with fees to use my credit card at my car repair shop, gym and restaurants. Gas stations have been doing this for […]
Q&A: Can I collect my ex-spouse’s Social Security survivor benefit if he remarries?
Dear Liz: I was married 37 years. I claimed Social Security at 62 because I needed the monthly income. I learned too late that if I had waited a few more years, my payment would have been much better. They did tell me that if my ex died before me, I would be entitled to have […]
Q&A: Should I make my kids beneficiaries of my IRA?
Dear Liz: Since retiring, I’ve been converting a traditional pre-tax IRA to a Roth IRA. I’ve got another small pre-tax account that I could do the same with. My reason for converting is that my spouse has a very large pre-tax IRA that probably won’t be used up in our lifetimes, and I don’t want my […]
Q&A: When to report an unresponsive accountant
Dear Liz: In a previous column, you answered a question from someone dealing with an unexpected bank levy by a state tax agency. The accountant who prepared the tax returns wasn’t responding to emails or calls. If an accountant ignores a client, then a complaint should be filed with the state’s board of accounting. If the […]
Q&A: How the kiddie tax can derail your inheritance tax strategy
Dear Liz: I’m about 50 and have two early elementary school children. I make really good money and with the combination of all taxes the last dollar I make is taxed at about 50%. I stand to inherit about $5 million from my parents. The problem is that about $3 million of that is in retirement […]