Dear Liz: You recently answered a question about determining home sale profits for a widow. My question is how you calculate taxes when there’s a loan in the mix. For instance, when I bought my home, I took out a mortgage. Subsequently, I took out a second mortgage to pay for a pool and landscaping. […]
Recent Blog Posts
Q&A: Facing retirement with parent student loans? Transfer them to the kids
Dear Liz: I’m 60. Should I take a $50,000 distribution from my 401(k) to pay down my $146,000 parent Plus college loan and then try to refinance the balance with a private lender at a lower interest rate? I have $364,000 in my 401(k). I’m paying 8% interest on the parent Plus loan and planning […]
Friday’s need-to-know money news
Today’s top story: Why you should ask your parents about their financial plans. Also in the news: Why you no longer need a chip-and-PIN card overseas, earning and burning your airline rewards to maximize free flights, and 1 in 4 millennials raiding 401(k)s early to pay down debt. Yes, You Should Ask Your Parents About […]
Thursday’s need-to-know money news
Today’s top story: 5 travel rewards myths that could cost you. Also in the news: 5 things to know about the Hilton Honors AmEx business card, what to know about SIMPLE IRAs, and how to manage household finances after your spouse dies. 5 Travel Rewards Myths That Could Cost You How to make the most […]
Wednesday’s need-to-know money news
Today’s top story: Your car-buying cheat sheet. Also in the news: How one couple made the switch to an online savings account, what to do if you need a tax extension, and 5 things to know about the Star Trek credit card. Your Car-Buying Cheat Sheet Don’t go to the dealership without it. How One […]
5 travel rewards myths that could cost you
Twenty-four years ago, I knew so little about travel rewards that I took an around-the-world trip without signing up for a single frequent traveler program. Those lost points and miles still haunt me. Fast forward to last summer, when our family stayed two nights at a luxury hotel in Venice, Italy. Our room would have […]