Dear Liz: I used the Coronavirus Aid, Relief, and Economic Security (CARES) Act to cash out my 401(k). My ex-employer waived the 10% penalty but withheld 20% for federal taxes. It seems unconscionable to keep $20,000 of my money for at least eight months instead of sending it to me. The law states I have […]
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Thursday’s need-to-know money news
Today’s top story: Start thinking bankruptcy now to maximize your options later. Also in the news: Why this is the perfect time to teach teens about credit, how to protect your stimulus relief check from debt collectors, and how to return a deceased relative’s stimulus check. Start Thinking Bankruptcy Now, to Maximize Your Options Later […]
Wednesday’s need-to-know money news
Today’s top story: Is my money safe in a bank during the COVID-19 crisis? Also in the news: Helping home buyers keep their distance with e-closings, what kinds of credit card relief are available during the pandemic, and how to save for retirement while on unemployment. Is My Money Safe in a Bank During the […]
Tuesday’s need-to-know money news
Today’s top story: For self-employed, filing for unemployment benefits is getting easier. Also in the news: How to pay rent when you can’t afford it, what to keep in mind with credit card payments during the pandemic, and how to find out what you owe the IRS. For Self-Employed, Filing for Unemployment Benefits Is Getting […]
Start thinking bankruptcy now, not later
If you’ve lost your job or struggle to pay your debt, you may need to file for bankruptcy. If that’s the case, you should ignore some common financial advice and start thinking defensively. The coronavirus pandemic that upended the economy is also expected to send unprecedented numbers of people and businesses to bankruptcy court. Millions […]
Monday’s need-to-know money news
Today’s top story: How states are helping student loan borrowers during the Coronavirus. Also in the news: Making a financial recovery kit to rally faster after disaster, a new episode of the SmartMoney podcast on buying a first home in an expensive area, and why your credit limit just dropped. How States Are Helping Student […]