Ask Liz Weston

June 28, 2016 By Liz Weston

Think Twice Before Rolling Over a 401(k)

Wall Street has done a remarkably thorough job of brainwashing investors into rolling their old 401(k) accounts into individual retirement accounts. IRA rollovers are certainly a better option than cashing out, which is the stupidest thing you can do with a 401(k) account other than not fund it in the first place. But moving money […]

Filed Under: Liz's Blog Tagged With: 401(k), 401(k) rollover, Retirement

June 27, 2016 By Liz Weston

Monday’s need-to-know money news

Today’s top story: Understanding your credit card’s free FICO score. Also in the news: The difference between a soft inquiry and a hard inquiry, surviving Social Security with a minor cost of living adjustment, and how apps can both help and hurt your finances. To Understand Your Credit Card’s Free FICO Score, Get Your Credit […]

Filed Under: Liz's Blog Tagged With: cost of living increase, Credit Cards, credit report, Credit Score, FICO score, financial apps, hard inquiry, Social Security, soft inquiry

June 27, 2016 By Liz Weston

Q&A: Tips for divvying up your retirement investments

Dear Liz: With all the investment options offered in 401(k) plans, how as a contributor do I know where to place my money? Answer: Too many investment options can confuse contributors and lower participation rates, according to a study by social psychologist Sheena Iyengar of Columbia University in cooperation with the Vanguard Center for Retirement […]

Filed Under: Investing, Q&A, Retirement Tagged With: Investments, q&a, Retirement

June 27, 2016 By Liz Weston

Q&A: No wedding, no Social Security benefits

Dear Liz: I’m a female who has been with her male partner for 20 years. We are not married. In the event one of us dies, is the other entitled to the partner’s Social Security benefits? Or do we have to be legally married to qualify for benefits? Answer: Your genders don’t matter. Your marital […]

Filed Under: Couples & Money, Q&A, Retirement Tagged With: couples and money, q&a, Social Security

June 27, 2016 By Liz Weston

Q&A: Fiduciaries can help with estate trusts

Dear Liz: I enjoyed your recent column about spendthrift trusts. You’re right that when parents assign the job of trustee to one sibling for the benefit of another sibling, it creates a hazardous situation that often results in a court battle. The appointed professional trustee should be a neutral party. You recommended a bank or […]

Filed Under: Estate planning, Q&A Tagged With: Estate Planning, estate trusts, fiduciaries, q&a

June 24, 2016 By Liz Weston

Friday’s need-to-know money news

Today’s top story: Why Americans should care about Brexit. Also in the news: Other insurance benefits you can count on, why millions of Americans prefer their credit card statements on paper, and simple budgeting strategies that can bring real results. 3 Reasons Why Americans Should Care About ‘Brexit’ It’s not just Europe’s problem. The Other […]

Filed Under: Liz's Blog Tagged With: Brexit, credit card statements, Credit Cards, Insurance, insurance benefits, Savings, tips

June 23, 2016 By Liz Weston

Thursday’s need-to-know money news

Today’s top story: The worst airports in the U.S. for summer travel. Also in the news: 3 smart money moves to make buying a home easier, creating a money map to make sense of your financial plan, and five signs it’s time to shop for a new credit card. The 10 Worst Airports in the […]

Filed Under: Liz's Blog Tagged With: buying a home, credit card loyalty programs, Credit Cards, financial plan, money map, summer travel, tips

June 22, 2016 By Liz Weston

Wednesday’s need-to-know money news

Today’s top story: When hybrid long-term care insurance makes sense. Also in the news: How to tell whether your credit card authorized user could become a problem, what pro athletes can teach us about retirement planning, and the 7 habits of highly effective investors. When Hybrid Long-Term Care Insurance Makes Sense Planning for the future. […]

Filed Under: Liz's Blog Tagged With: authorized users, Credit Cards, hybrid long-term care insurance, Investing, long-term care insurance, pro athletes, Retirement, retirement savings, tips

June 21, 2016 By Liz Weston

5 Good Reasons to Tap Your Home Equity

Lenders want you to borrow against your home equity again. The question is, should you? Rising home values and a sluggish mortgage market mean banks are once more marketing home equity lines of credit. Last year, lenders handed out $156 billion in HELOCs, a 24% rise from a year earlier and a 138% rise from […]

Filed Under: Liz's Blog Tagged With: Home Equity

June 21, 2016 By Liz Weston

Tuesday’s need-to-know money news

Today’s top story: How two extra years in college could cost you close to $300,000. Also in the news: How a financial advisor can help with life insurance, tips for paying off student loans if you didn’t finish college, and why 66 million Americans don’t have an emergency fund. 2 Extra Years in College Could […]

Filed Under: Liz's Blog Tagged With: college tuition, emergency savings, financial advisor, life insurance, Student Loans

Search