Dear Liz: Recently, someone asked if closing a credit card would be worth the hassle and you responded that there is no compelling reason to do so and in fact, it might hurt your credit scores. As an older person, I can think of two good reasons: theft and fraud. Many of us of a certain […]
Recent Blog Posts
Q&A: My ex-wife lent my money to her boss. What can I do?
Dear Liz: I recently found out that my ex lent one of her former bosses $2,500 to get his brother out of jail on bond. My ex took the money out of a joint account that I had opened with the inheritance I got when my dad died. It’s now been four years and I haven’t […]
This week’s money news
This week’s top story: June mortgage rates. In other news: Some big stores are cutting prices to woo back grocery shoppers, rename your ’emergency fund’ if that suits your saving style, and first-time home buyer affordability report – Q1 2024. June Mortgage Rates: Calm at Takeoff, Then Subject to Turbulence Mortgage rates probably won’t vary much in […]
Q&A: A $100 fee to close a brokerage account? Really?
Dear Liz: My brokerage recently sent an updated fee list. They now are charging $100 to close an account. That seems an incredibly high fee should I choose to move my investments somewhere else. The fine print says the fee will not apply to anyone who holds at least $5 million in qualifying assets. Well that […]
Q&A: Is it wise to have all your accounts under one roof?
Dear Liz: I’m setting up accounts post-divorce, while learning personal finance on the fly. Is it “safe” or advisable to have all of my larger accounts — IRAs, 401(k), cash management — with the same institution, or should I spread them around? I have smaller checking and savings accounts with a good credit union. Answer: Using a […]
Q&A: Caught between Social Security’s two retirement ages
Dear Liz: I’ve received multiple conflicting answers from Social Security and hope you can clarify. My husband waited to collect until he was 70 and unfortunately passed away soon afterward. I am 66 and was instructed to apply for survivor benefits because I would be eligible to collect his enhanced benefit at age 66 plus two months. […]