Today’s top story: When debt relief does more harm than good. Also in the news: New ways to get more money for your old car, back-to-school tips for avoiding child identity theft, and the top sacrifices made by ‘super savers’. When Debt Relief Does More Harm Than Good The behavior has to change, too. New […]
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Wednesday’s need-to-know money news
Today’s top story: Should students gamble on an Income Share Agreement? Also in the news: How to make a debt-free switch to cashless payments, 4 home insurance pitfalls to avoid during hurricane season, and see how much home you can afford with the 30/30/30 rule. Should Students Gamble on an Income Share Agreement? An ISA […]
Tuesday’s need-to-know money news
Today’s top story: How to adjust your school supplies budget for the online classroom. Also in the news: 5 things to do with all that money you haven’t been spending the past few months, is moving now the best financial move for Millennials, and how COVID-19 may impact applying for financial aid. How to adjust […]
Q&A: A felony doesn’t preclude you from Social Security benefits
Dear Liz: If someone has a felony, is it true they cannot claim Social Security retirement benefits? If so, what is the best option: a Roth IRA or a brokerage account? How do they get started without a lot of money? Answer: A felony does not prevent you from claiming Social Security in the future […]
Q&A: Backdoor Roth IRA contributions
Dear Liz: You mentioned in a previous column that a backdoor Roth contribution could be expensive if you have a large pretax IRA. I was in that situation, and opted to first roll my IRA into my employer’s 401(k). I then made a nondeductible contribution to a new IRA and shortly afterward converted it to […]
Q&A: 2020 taxes bring another stimulus shot
Dear Liz: My 2019 tax return was electronically submitted May 11 and my income was low enough to qualify for a stimulus payment. I got my refund at the end of July but was told I wouldn’t get a stimulus check because my 2018 income was too high. The IRS agent on the phone said […]