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 […]
Recent Blog Posts
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 […]
Q&A: Can a brokerage close my account? You bet
Dear Liz: Is it common for a brokerage agreement to say the firm can close my account for any reason and without any notice? The agreement goes on to say that the brokerage can liquidate the investments in my account if it’s closed and that the brokerage is not responsible for any investment losses that result. […]
Q&A: The GPO can wipe out survivor benefits
Dear Liz: My husband passed away 10 months ago. I applied for widow benefits. The Social Security Administration sent me a letter that said they cannot pay because my Social Security benefit would equal two-thirds of the amount of my pension. Please help me with this. Answer: This is known as the government pension offset, and it […]
Q&A: Missing the paperwork on your IRAs? All is not lost
Dear Liz: I have four daughters, now in their late 30s and early 40s. When they were very young, I started investing for them. As they began to earn their own money, I started Roth IRAs for them as well. A decade ago, due to an unexpected divorce, a 30-day escrow and a move, I lost […]
This week’s money news
This week’s top story: State and local minimum wage hikes kick in around U.S. In other news: July mortgage rates could follow house prices downward, corporations want you to rent, not own, and 7 states where will pump up gas taxes on July 1. State and Local Minimum Wage Hikes Kick In Around U.S. Minimum wage earners […]