Dear Liz: Many years ago, I read in a personal finance magazine about a mutual fund company that paid $1 million to a customer who had an IRA for 40 years. So I started an IRA at that company in December 1992 and paid $10,000. As of today, that account is worth only $80,000. What […]
Recent Blog Posts
Q&A: The benefits of delaying Social Security
Dear Liz: I retired and started collecting Social Security at 62. My husband is currently 68 and plans to retire next year. I called Social Security before I retired and they told me that I could collect Social Security at 62 and when my husband retired, I could collect my own Social Security or half […]
Q&A: Taking out a reverse mortgage may help if coronavirus wipes out your job
Dear Liz: I read with interest the letter from the person who was a tour guide and lost their job due to the virus. I kept reading, expecting you to suggest a reverse mortgage. Are these a bad idea? Answer: Not necessarily. The person in question owned the home with a sibling, and the sibling […]
Friday’s need-to-know money news
Today’s top story: Money moves to help you feel more in control. Also in the news: How to renegotiate your bills to save money, ways for renters to cope in the financial crisis, and how to protect yourself before your federal student loan servicer changes. Feeling Out of Control? These Money Moves Could Help Regain […]
Thursday’s need-to-know money news
Today’s top story: How to plan holiday travel for maximum flexibility in 2020. Also in the news: The best debt consolidation loans right now, how to work from home like a pro, and how to find homeowners insurance that won’t discriminate against your dog. How to Plan Holiday Travel for Maximum Flexibility in 2020 These […]
Wednesday’s need-to-know money news
Today’s top story: What a payroll tax deferral may mean for your paycheck and taxes. Also in the news: 4 ways to end your car lease early, what to do if losing your job means losing life insurance, and don’t skip these estate planning moves during the pandemic. What a Payroll Tax Deferral May Mean […]