Dear Liz: I have an update about a recent question in your column. A reader wrote that they had been low income but had recently inherited $175,000. You noted that Medicaid has strict asset limits. Actually, that is no longer the case in California, where Medicaid is known as Medi-Cal. I just received literature from it […]
Recent Blog Posts
Q&A: He’s held stocks for decades. Should he sell before he dies?
Dear Liz: My father-in-law, age 100, has more than $1 million in stocks and bonds purchased in the 1980s and 1990s. With the stock market so high, I have suggested that he might want to sell the investments, take the tax hit and consolidate into short-term certificates of deposit or similar. This would make it easier […]
Q&A: Closing the case on the couple moving into their rental property
Dear Liz: You recently answered a question from a couple who wanted to move into their rental property, make it their primary residence and use the $500,000 home sale exclusion if they sold the property after living there for two years. You should have made it clearer that not all of the gains on the property would qualify […]
This week’s money news
This week’s top story: How to get cheap car insurance. In other news: 5 things to ponder before you pack, August mortgage rates could continue long decline, and Americans spending less time, more money on shopping. How to Get Cheap Car Insurance Insurance rates may be going up, but considering some simple steps could help you […]
Q&A: I need new wheels. What’s the best way to pay for them?
Dear Liz: Is it better to buy a car with saved money or finance the $25,000 needed? In my case I will have to sell stocks. Maybe this is a good time to do that since things look like they are taking a turn in the stock market. Answer: Borrowing money can make sense when the asset […]
Q&A: Shake, rattle and … roll the dice without earthquake insurance?
Dear Liz: I live in Southern California and my homeowners insurance renews at the end of August. Should I consider buying earthquake insurance? Answer: Insurance is meant to protect against catastrophic losses that we couldn’t easily pay out of pocket. If you don’t have much equity in your home, or you’re willing to walk away from the […]