Dear Liz: I’m a single person with no children. I worked for one private employer for 36 years, retired from there at 54 and am now 57. My home is paid off. I receive a pension of $2,400. I’ve been working a nearly full-time job averaging $3,800 a month with 8% going into a 401(k) and […]
Recent Blog Posts
This week’s money news
This week’s top story: Holiday deals and don’t let debt follow. In other news: What to buy during Amazon’s Prime big deal days 2024, replacing HVAC with BTC, and 4 mom-approved cheap Halloween costume ideas. Holiday Deals Are Here. Don’t Let Debt Follow Make a budget, research retailer policies and compare prices to keep holiday debt […]
Q&A: Using retirement savings to pay down debt is risky business. Do this instead
Dear Liz: I’m way behind on retirement funds. I did get pension funds from my employer after 25 years of service but used a large portion to pay debt that was crushing me. I’m widowed, age 62 and work full time as a nurse. I rent my place. How do I catch up? I have $200,000 […]
Q&A: The fine print on deducting medical expenses
Dear Liz: I take $5,000 per month out of my brokerage account (and the $1,400 in taxes when I withdraw the money) for my husband’s Alzheimer care facility where he now lives 24/7. Can I only claim that on my taxes under medical expenses if I itemize my deductions on my taxes? I don’t have any […]
Q&A: More on payable-on-death accounts
Dear Liz: You recently wrote about payable-on-death accounts. You wrote that one of the disadvantages to these accounts is that an estate’s executor might have to try to get money back from beneficiaries or pay expenses out of their own pocket if there wasn’t enough money left in the estate to pay the bills. I thought […]
This week’s money news
This week’s top story: What Trump and Harris have in store for your taxes. In other news: Credit card-bonus-friendly season is here, October mortgage outlook, and drawbacks to consider before getting metal credit card. What Trump and Harris Have in Store for Your Taxes Most, if not all, of the candidates’ tax proposals would need […]