The mystery isn’t why so many people file for bankruptcy each year. It’s why more people don’t. Each year, only a fraction of the Americans who could benefit financially from bankruptcy actually seek relief. Economists say some don’t file because collectors aren’t aggressively pursuing them, while others may strategically delay filing because bankruptcy could benefit […]
Recent Blog Posts
Monday’s need-to-know money news
Today’s top story: A new episode of the SmartMoney podcast featuring Drag Race All-Star winner Shea Couleé talking about the drag economy. Also in the news: Online banking FAQs, how to invest in the S&P 500, and how to plan for interest rates staying low through 2023. Smart Money Podcast: Used Cars in Short Supply, […]
Q&A: Remodel the house or sell it?
Dear Liz: Should we take out a home equity loan so we can do some improvements on our house and make it work better for us, or should we sell it and upgrade to a bigger house? We are not in a rush to move, so we are content to take our time to find […]
Q&A: Managing retirement savings
Dear Liz: I’m considering converting an old 401(k) to a Roth IRA. Will the gains from the 401(k) account be treated as capital gains? And can you only convert 401(k) plans you no longer participate in, or can you convert both current and former 401(k) plans? Answer: You’ll pay income taxes on the conversion. Retirement […]
Q&A: Here’s why you shouldn’t put that huge hospital bill on a credit card
Dear Liz: Because of COVID, my 27-year-old son lost his job and health insurance. He was unable to afford continued health insurance and did not qualify for Medicaid. He contracted spinal meningitis and was hospitalized 12 days. The hospital reduced his bill to $28,000 from the original $80,000, but he is still unable to pay. […]
Friday’s need-to-know money news
Today’s top story: How frugal fashionistas can stay on trend. Also in the news: What Biden or Trump could do for your student loans, why you need an investment policy statement, why you need an investment policy statement, and college student argue distance learning should cost less. How Frugal Fashionistas Can Stay on Trend Style […]