Most parents in the U.S. provide some sort of financial support to their adult children, multiple surveys have found. But often, financial aid goes the other way. A 2015 survey by TD Ameritrade found 13% of American adults provided financial support to a parent. Millennials were far more likely than older generations to report they […]
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Tuesday’s need-to-know money news
Today’s top story: Time your credit card application this bonus-friendly season. Also in the news: Debt and housing costs are making it harder to save for retirement, a 2019 holiday shopping report, and how to spend your extra FSA money. Time Your Credit Card Application This Bonus-Friendly Season ‘Tis the season for bonuses. Debt, Housing […]
Q&A: How to protect a child’s education savings from greedy adults
Dear Liz: I understand that money for children’s college education can be put in a bank account with a parent as the trustee under the theory (I suppose) that the child might make bad decisions. In my case, money that I had worked hard for was put into a custodial account and then used by […]
Q&A: Working past 70
Dear Liz: If I continue to work after 70, will Social Security taxes still be deducted from my check? I understand my benefits will cap out at 70, so why would I need to still pay into the fund? Answer: Because Social Security is insurance, not a bank account. And it may not be true […]
Friday’s need-to-know money news
Today’s top story: 5 ways to take command of military discounts. Also in the news: The best credit cards to use when buying airfare, Black Friday strategies that actually work, and how to spend your retirement savings without triggering a tax penalty. 5 Ways to Take Command of Military Discounts Thank you for your service. […]
Thursday’s need-to-know money news
Today’s top story: Speedier payment systems could curb your costs. Also in the news: Black Friday vs. Prime Day: How they stack up, 5 signs an online loan is a debt trap, and everything you need to know about your 2020 taxes. Speedier Payment Systems Could Curb Your Costs Real-time payments could save Americans billions. […]