Dear Liz: I was married for 18 years before filing for a divorce. I am 71 and my husband is 76 and still working full time. He waited until he was 70 to collect his Social Security. Social Security told me to wait to file until he did to collect the maximum amount. I did, […]
Recent Blog Posts
Q&A: Health savings accounts offer big tax benefits. The trick is knowing when to use the funds
Dear Liz: My retirement account covers all my expenses, including medical. I also have $60,000 in a health savings account that is invested in a mutual fund. I’m struggling with how to use that. I could use it for all current medical costs, or just for unexpected big ones. Or I could keep the HSA as […]
This week’s money news
This week’s top story: 3 side gigs for full-time working moms. In other news: Two key student debt relief programs expire Sept. 30, weekly mortgage rates, how to score a low personal loan rate in 2024. 3 Side Gigs for Full-Time Working Moms Four moms share side gigs that are flexible and provide solid sources of […]
Q&A: My house grew, but not my insurance policy
Dear Liz: My home insurer has outdated specifications for my home that seem to come from public records (the house has more bedrooms and is larger now). So the estimated replacement cost can’t be anywhere near accurate. What’s the best way to provide them with authoritative information that would leave no doubt what we need to […]
Q&A: Looking to Medicaid to pay for assisted living
Dear Liz: I am going to sell my house, pay back my reverse mortgage, spend down and go on Medicaid in order to pay for assisted living that I need. What are some good resources I can contact to help me navigate all this? I have done a lot but am still needing more help. Answer: Medicaid, […]
Q&A: These major financial decisions shouldn’t be DIY projects. Talk to an expert!
Dear Liz: I anticipate being dead soon (cancer). I have established an irrevocable trust for my 8-year-old child, with my 47-year-old wife as the trustee. With respect to taxes and other issues and naming beneficiaries, what is the optimal strategy regarding my child for life insurance and traditional and Roth IRAs? My wife will get the […]