Losing a job is almost always traumatic. In your 50s, job loss can be devastating — and devastatingly common. More than half the workers who entered their 50s with stable, full-time jobs were laid off or pushed out at least once by age 65, according to an analysis of employment data from 1990 to 2016 […]
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Tuesday’s need-to-know money news
Today’s top story: Be your financial Valentine. Also in the news: 44% of adults admit to keeping money secrets from a partner, most consumers have already broken their resolutions, and how to reset your finances after a breakup. Be Your Financial Valentine The best gifts you can give yourself. 44% of adults admit to keeping […]
Monday’s need-to-know money news
Today’s top story: Should your student loans and your spouse’s get hitched? Also in the news: Investing vs paying student loans, the blunt truth about medical expenses, marijuana, and your tax returns, and how to figure out your finances when you’re single. Should Your Student Loans and Your Spouse’s Get Hitched? A look at the […]
Q&A: Here’s what early retirees need to know about Roth IRA and 401(k) taxes and penalties
Dear Liz: I have been contributing to a Roth 401(k) and a Roth IRA for several years. I plan to retire early. Am I able to withdraw any of my Roth contributions without penalty before I reach age 60? Answer: Your contributions to a Roth IRA can always be withdrawn tax free, at any time […]
Q&A: New rules for required distributions
Dear Liz: I cannot find when the SECURE Act takes effect. My wife, who turns 69 this summer, has a traditional Roth IRA worth about $150,000, all in a single large-company growth mutual fund. Obviously we don’t want to see it depreciate during a certain-to-come down market and then have to begin withdrawals before the […]
Q&A: Storing documents in emergency kits
Dear Liz: I have appreciated your advice over the years, but I strongly disagree with your information about relying on electronic media during a disaster. If a really big disaster happens in this country, there will be no internet or Wi-Fi available. When the Loma Prieta earthquake hit in 1989, everything was offline for days, […]