Dear Liz: I did not enroll in Part D prescription coverage when I enrolled in Medicare in 2005 because I was not taking any prescriptions at the time. When I enrolled a few years later, I was penalized $11 per month for late enrollment and I must pay this penalty until I die. What is the […]
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This week’s money news
This week’s top story: Weekly mortgage rates rise, but long term expectations are lower. In other news: In-app deals and rewards, how to take control of awkward money conversations, and how Trump and Harris aim to address your health care. Weekly Mortgage Rates Rise, But Long Term Expectations Are Lower Where are mortgage interest rates headed? […]
Q&A: Changing jobs? Think about transferring your retirement fund
Dear Liz: I’m a government employee with a 403(b) supplemental retirement plan. I’m taking a new job out of state and wonder what to do with the money in this account. Should I leave it in the plan, which has been doing great, or transfer it to my new employer’s plan? Also, I have a little […]
Q&A: Big banks can cause big headaches when it comes to retitling accounts
Dear Liz: Someone recently asked whether to make a bank account “payable on death” or put it in their living trust. Our bank has refused to allow us to retitle our accounts so we can have them in our trust. Is “payable on death” our only option? Answer: No, but you may need to move your accounts […]
Q&A: An aging relative is spending her nest egg on round-the-clock care. What happens when the money runs out?
Dear Liz: A family member is 90 and lives by herself at home. She has around-the-clock caregivers paid for by her investment accounts. Her teacher pension pays for all everyday expenses. She is high maintenance and unwilling to accept she will one day run out of money for caregivers. What would you suggest? Answer: That depends on […]
This week’s money news
This week’s top story: 5 big changes to Medicare Part D for 2025. In other news: Weekly mortgage rates, Mega Millions will raise ticket price, and sports betting can be a gamble for your financial health. 5 Big Changes to Medicare Part D for 2025 (And What to Do About Them) Watch out for big changes […]