Dear Liz: As a widower who just turned 60, what are the pros and cons of starting my survivor benefit now? My wife passed away at 55, after 20 years of marriage. My lifetime earnings are higher than hers. I am in good health and have not remarried (though I’m open to doing so). Finances […]
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Thursday’s need-to-know money news
Today’s top story: When leasing a car is the more frugal option. Also in the news: How to actually achieve your debt payoff resolution, 5 basic features you should expect from your bank, and holiday debt could take years to pay off. When Leasing a Car Is the More Frugal Option Car buying has changed […]
When leasing a car is the more frugal option
If you need a car, the most frugal option is to buy one that’s 2 to 3 years old, pay cash and drive it until the wheels fall off. The least frugal option traditionally has been leasing, where you make monthly payments to drive a car but don’t own it. You’re paying for the vehicle […]
Q&A: How deposit insurance limits work
Dear Liz: My parents, who are in their 80s, just moved and are about to sell their former home. Their net gain from the sale will be approximately $400,000. I am advocating they put this money in a high-yield savings account as capital preservation is key. I know an individual account is insured by the […]
Q&A:Getting bum info from Social Security
Dear Liz: After taking Social Security early at 62, I have called, written and visited in person asking to have my benefit suspended so it can earn delayed retirement credits. Nothing has worked. Social Security representatives say I cannot change anything after the first 12 months. I turn 66 this month and wanted to get […]
Q&A: Here’s why one donation of $1,000 beats 10 donations of $100
Dear Liz: I want to support about 10 charities and nonprofits but have a limited budget of $1,000. I’ve been dividing it among those charities, but would I have a bigger impact contributing the full amount to just one? Answer: Absolutely, for a number of reasons. Each charity spends a certain amount to process your […]