Ask Liz Weston

April 16, 2018 By Liz Weston

Q&A: What’s better, collecting Social Security early or blowing through retirement savings?

Dear Liz: I am married and six months away from my full retirement age, which is 66. I have not filed yet. My wife started collecting Social Security at 62 but does not get very much. We are both in excellent health and have longevity in the genes. We don’t own a home. I have […]

Filed Under: Q&A, Retirement, Social Security Tagged With: q&a, Retirement, Savings, Social Security

April 16, 2018 By Liz Weston

Q&A: The ins and outs of inherited IRAs

Dear Liz: I have questions about inherited IRAs. A friend has designated me and three others as beneficiaries of her IRA. Is this to be considered community property with my husband? How can I inherit this as “sole and separate property”? Must taxes be paid on this? Also, may I give gifts of cash to […]

Filed Under: Inheritance, Q&A, Retirement Tagged With: Inheritance, IRA inheritance, q&a

April 13, 2018 By Liz Weston

Friday’s need-to-know money news

Today’s top story: 12 freebies and deals for Tax Day 2018. Also in the news: 3 ways parents can help grown kids own a home, why your parents’ financial advice is probably wrong (for you), and what you should know about getting an advance on your tax refund. 12 Freebies and Deals for Tax Day […]

Filed Under: Liz's Blog Tagged With: financial advice, freebies, parents, real estate, Tax Day 2018, tax refund, tax refund advance

April 12, 2018 By Liz Weston

Thursday’s need-to-know money news

Today’s top story: 4 ways to curb your online shopping enthusiasm. Also in the news: 13 last-ditch ways to avoid the poorhouse in retirement, why you should freeze your child’s credit, and 8 inspirational stories of people who overcame debt. 4 Ways to Curb Your Online Shopping Enthusiasm Back away from the mouse. 13 Last-Ditch […]

Filed Under: Liz's Blog Tagged With: Credit, credit freeze, debt, Identity Theft, kids and credit, online shopping, personal stories, Retirement, retirement savings, tips

April 11, 2018 By Liz Weston

Wednesday’s need-to-know money news

Today’s top story: 5 ways to mute the “buy now” appeal in infomercials. Also in the news: What you need to know about investing in IPOs, 3 smart ways to supercharge your travel rewards, and what to know about income-driven student loan repayment plans. 5 Ways to Mute the ‘Buy Now’ Appeals in Infomercials Don’t […]

Filed Under: Liz's Blog Tagged With: income-driven repayment, infomercials, IPOs, Student Loans, tips, travel rewards

April 10, 2018 By Liz Weston

Tuesday’s need-to-know money news

Today’s top story: How bad credit can increase your car costs. Also in the news: Owning Bitcoin creates a complex tax situation, 13 last-ditch ways to avoid the poorhouse in retirement, and the top 7 tax deductions and credits people forget. Good Driver, Bad Credit: What Makes Your Car Costs So High It’s not just […]

Filed Under: Liz's Blog Tagged With: bad credit, BItcoin, car costs, Credit, Insurance, Retirement, retirement savings, tax credits, tax deductions, Taxes, tips

April 10, 2018 By Liz Weston

How not to run out of money in retirement

Americans aren’t terrific at saving for retirement. Many are even worse when it comes to figuring out how much to spend once they get there. An actuary who’s studied the issue for three decades recently proposed a relatively straightforward strategy that can help. In my latest for the Associated Press, how to use this strategy […]

Filed Under: Liz's Blog Tagged With: Retirement, retirement savings

April 9, 2018 By Liz Weston

Monday’s need-to-know money news

Today’s top story: 7 gifts that help your grad stash more cash. Also in the news: Why rideshare insurance is a must, how credit card issuers pursue wary Millennials, and how to know if you qualify for public service loan forgiveness. 7 Gifts That Help Your Grad Stash More Cash Cool and practical. Why Rideshare […]

Filed Under: Liz's Blog Tagged With: Credit Cards, graduates, graduation gifts, Lyft, millennials, public service loan forgiveness, rideshare insurance, Student Loans, Uber

April 9, 2018 By Liz Weston

Q&A: Their kids are spendthrifts. How do parents protect them with a trust?

Dear Liz: My wife (71) and I (68) have been diligent savers our entire lives. We have accumulated IRA assets of approximately $2 million along with a house and other assets. Our total estate is under $10 million. We have two adult children in their 20s who did not inherit the saving gene. My question […]

Filed Under: Estate planning, Q&A Tagged With: Estate Planning, Inheritance, q&a, spendthrift trust, trust

April 9, 2018 By Liz Weston

Q&A: Managing debt with credit counseling

Dear Liz: I contacted a company to help me resolve my debt. They present themselves as a nonprofit organization and seem to offer a possible solution by reducing the interest rate I’m paying on my credit cards. How do I determine the trustworthiness of this and other such organizations? Answer: If the organization is affiliated […]

Filed Under: Credit Counseling, Q&A Tagged With: Credit, credit counseling, debt, q&a

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