Today’s top story: Options for undergrad, grad, veteran and international students when colleges say stay home. Also in the news: Which airlines have handled COVID-19 the best, is it OK to never have a credit card, and where to put your money when interest rates are falling. When Colleges Say Stay Home: Options for Undergrad, […]
Recent Blog Posts
Probate workarounds can save heirs time, money
A reader recently reached out after his elderly mother died, asking how soon he could distribute the $10,000 she had earmarked in her will for each of her two grandchildren. Because she lived in California, I had to break the bad news: He won’t be able to hand over the money any time soon. Probate […]
Monday’s need-to-know money news
Today’s top story: 5 reasons why people get personal loans and what financial advisers say about them. Also in the news: A new episode of the SmartMoney podcast on creating wealth, 5 secrets of car buying from a former undercover car salesman, and how to lower your tax bill with these last-minute moves. 5 reasons […]
Q&A: But not for this octogenarian
Dear Liz: I am 81 and opened a Roth IRA before retiring 15 years ago, but have not added to that account since. Recently I realized a cash windfall and would like, if possible, to deposit that money in my existing Roth IRA, but I am confused about the limitations and rules on doing so. […]
Q&A: Retirement accounts for teenagers
Dear Liz: My 16-year-old grandson has a job stocking shelves at a large grocery chain. His parents opened a low-cost minors investment account, which he has now funded to the max of $6,000. Is there anywhere else he can invest his earnings? Answer: It sounds like what your grandson funded was an IRA or a […]
Q&A: The case for filing a tax return
Dear Liz: A couple on Social Security who hadn’t received their stimulus payments wrote that they “do not make enough income to file tax returns.” It might be worthwhile to let your readers know that, even if one’s income is below the amount where they must file a tax return, they nevertheless may file a […]