Dear Liz: Some time ago you referenced an “aid and attendance benefit” for veterans and their spouses. We have a 94-year-old bedridden widowed mom who has a permanent catheter and is tube-fed each day. I had never heard about this benefit and can’t seem to find a contact anywhere within the Department of Veterans Affairs who […]
Recent Blog Posts
Q&A: Is it better to spread your wealth between two financial advisors?
Dear Liz: My parents left me with financial accounts at two companies. My instinct is to combine them to deal with one less company. Is there a downside to doing this? Answer: You should first determine whether any of the inherited accounts is a retirement account because those come with special rules. You can’t simply merge an […]
Q&A: Minimizing your taxes is fine — to a point
Dear Liz: In reading your columns, one can get the impression that reducing tax liability is the primary objective for many financial advisors. I disagree with this. Paying a fair share of taxes is a responsibility to society and the less fortunate, especially for wealthy people. Why are so many financial “professionals” so obsessed with paying […]
What Can You Quit Today?
For many years, I tried to personally answer as many reader emails as possible. I couldn’t offer personalized advice – I’m a journalist, not a practicing financial planner – but I wanted to at least point people to helpful articles, agencies or sites. As my readership grew, this task became Sisyphean. I’d spend hours at […]
This week’s money news
This week’s top story: Avoiding 4 Prime Day pit falls. In other news: How to use buy now, pay later like a pro, 60/30/10 budget, and a court ruling that blocked lower student loan bills under the SAVE repayment plan has been overturned. Avoid These 4 Prime Day Pitfalls Protect your wallet this month by steering clear […]
Q&A: Old inherited IRA is safe from “drain it in 10 years” requirement
Dear Liz: You have written that non-spouse beneficiaries are now required to drain their inherited IRAs within 10 years. Is this requirement retroactive? I inherited an IRA from my mother in 2015. I have been taking out the minimum required each year. If I must drain the account within 10 years, will the increase in yearly […]