A singular crisis has led to extraordinary relief options for borrowers. Interest and payments have been paused on federal student loans. Homeowners can request nearly a year of mortgage forbearance. Credit card issuers and other lenders dramatically expanded hardship programs. Still, many Americans say they took on more debt last year because of the pandemic, […]
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Tuesday’s need-to-know money news
Today’s top story: 3 things to know if you’re new to gig work. Also in the news: How to craft smarter money goals in 2021, the do’s and don’ts of getting and using a paycheck protection program loan, and 5 steps you can take to pay off consumer debt. 3 Things to Know if You’re […]
Monday’s need-to-know money news
Today’s top story: How insurance fraud costs you money. Also in the news: A new episode of the Smart Money podcast on lottery winners and what to do with extra COVID cash, how to decide if your first house should be a condo, and how to choose your ACA plan. How Insurance Fraud Costs You […]
Q&A: More about spousal benefits
Dear Liz: You recently wrote that a wife could apply for Social Security at 62 and then switch later to her spousal benefit. I do not believe this is accurate. Once the wife starts drawing, she is committed. Answer: Typically, that’s true. When someone applies for Social Security, their retirement benefit is compared with their […]
Q&A: Couples and their accounts
Dear Liz: You’ve been writing about things people should do after a spouse dies. May I recommend that before your spouse dies, be sure every account is in both your names. It took six months to cancel my landline phone after my husband died and I moved out of our home. Apparently when we moved […]
Q&A: Here’s why trying to time the stock market is a really bad idea
Dear Liz: I confess that I am one of those people who panicked and sold a portion of my portfolio in March, against the advice of many who said, “Hold, don’t fold.” Thus, when the market bounced back, I was left standing out in the cold. I am filled with a tremendous sense of stupidity. […]