Dear Liz: I have a question regarding the use of credit cards for foreign transactions. Are the card companies required to use a certain exchange rate? I’ve used two different cards, and the one that charges a fee used a better exchange rate. The total cost to me, including the fee, was less than the other […]
Recent Blog Posts
Q&A: A follow-up question about payable on death accounts
Dear Liz: I’ve worked for various broker dealers for 33 years and have never heard of a “payable on death” account. Did you mean transfer on death (TOD) in your previous column? Answer: I did not. Payable on death accounts are similar to transfer on death accounts since both allow owners to designate beneficiaries and avoid probate, […]
Q&A: You can’t spend it when you’re gone, but delaying Social Security payments makes sense
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 […]
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 […]