Dear Liz: In your response to a question about the adjusted basis of a residence after the death of a spouse, you state that the surviving spouse may add to the adjusted basis “any commissions or fees paid to purchase the property and the cost of improvements.” Your example adds $150,000 in “improvements over the […]
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Q&A: His Social Security claiming decision could use a second opinion
Dear Liz: I retired in 2013 at 55. I purchased an annuity, which will pay $1,000 a month for life for me and my wife as well. That starts in February 2020. My retirement fund, meanwhile, was rolled into an IRA and I’m withdrawing about 10% of that annually. The balance is about $650,000. My […]
Friday’s need-to-know money news
Today’s top story: Are you robbing your parents’ retirement. Also in the news: When is your credit score high enough, when a cash back card is better than travel rewards, and how to pay for your pet’s healthcare. Are You Robbing Your Parents’ Retirement? Parents helping their adult kids at the expense of their future. […]
Thursday’s need-to-know money news
Today’s top story: How budgeting date nights help one couple stay on track. Also in the news: What travelers want out of their vacation rentals, how not to get duped when buying a used car, and how to make a home down payment without wrecking your finances. Budget Diary: ‘Budgeting Date Nights’ Help One Couple […]
Wednesday’s need-to-know money news
Today’s top story: How income-based student loan repayment is calculated. Also in the news: The ideal debt-to-income ratio for student loan refinancing, why you might be eligible for a TurboTax refund, and how adult children are eating into their parents’ retirement savings. How Is Income-Based Repayment Calculated? Determining your monthly student loan payment. Debt-to-Income Ratio […]
Tuesday’s need-to-know money news
Today’s top story: In the points and miles game, blind loyalty can cost you. Also in the news: The best mortgage lenders with no origination fee, how a personal loan affects your credit score, and how thinking like an optimist could help you save more. In the Points and Miles Game, Blind Loyalty Can Cost […]