Dear Liz: My brother is 54 and has always worked low-wage jobs. He owns a condo thanks to the help of our parents, and his monthly expenses are very low. He’s in a stable position. He does not have any retirement savings or really any other savings to speak of. Recently, he came into an inheritance […]
Recent Blog Posts
This week’s money news
This week’s top story: Smart Money Podcast on unlocking financial opportunities for women. In other news: How the next generation will use credit cards, weekly mortgage rates decline, following the rate of inflation, and grocery prices tick back up in lates inflation report. Smart Money Podcast: Unlock Financial Opportunities for Women: Jean Chatzky on Investing, Negotiating, […]
Q&A: A little known, and restrictive, benefit for vets and their spouses
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 […]
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 […]