The economic fallout from the coronavirus pandemic could be profound. Many people are already losing jobs, with unemployment jumping at a record pace. Even those who stay employed may face reduced hours or uncertainty about how long their paychecks will continue. If you’re in a situation where you can’t pay all your bills, or likely […]
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Monday’s need-to-know money news
Today’s top story: 7 kinds of COVID-19 relief for college students. Also in the news: Why rich students get more financial aid than poor ones, a new episode of the SmartMoney podcast on Student Loans and the stimulus package, and what it means to be furloughed. 7 Kinds of COVID-19 Relief for College Students From […]
Q&A: Volatile markets and retirement
Dear Liz: With the tumult in the stock market, I’ve been thinking of a strategy which may be safe but not prudent. I have about $315,000 in a trust account which pays me about $9,000 a year in dividends. I’m 81. If I sell all the stocks in my trust account, I could draw the […]
Q&A: Giving away your relief funds
Dear Liz: My wife and I are retired. We are comfortable financially, with a generous pension, maximum Social Security benefits due to start in a few months, and three years’ worth of ready cash in the bank. We don’t anticipate touching our investments until mandatory distributions from our IRAs kick in. Now we’re apparently going […]
Q&A: How to figure out if your student loan qualifies for coronavirus relief
Dear Liz: I’m confused about what help is being offered to people with student loans. At first I heard interest was waived but payments had to be made. Then supposedly the stimulus package made payments optional. Is there something I have to do to get relief or is it automatic? Answer: If your student loans […]
Friday’s need-to-know money news
Today’s top story: COVID-19 loan options and payment relief. Also in the news: Why you shouldn’t give your adult kids your house, managing the high cost of infertility, and when you’ll get your Coronavirus relief check. COVID-19: Loan Options and Payment Relief Lenders respond to the pandemic. Don’t Give Your Adult Kids Your House Good […]