Dear Liz: If someone owns an asset, such as a home or stocks, and passes away, the heirs can get a stepped-up cost basis. What if that same person also owned a second home, vacation property and rentals? Do those properties also get a stepped-up cost basis for the heirs? Answer: Typically, yes. A step-up […]
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Q&A: Ask yourself these questions before using savings to pay off student debt
Dear Liz: I’m wondering whether I should use part of my emergency fund to pay off student loans. I currently have $15,000 in an emergency fund to cover three to six months of my living expenses and owe $18,000 in federal student loans. I’ve been feeling the itch to pay off a chunk of my […]
Friday’s need-to-know money news
Today’s top story: How to give money advice that sticks. Also in the news: 3 steps to spring clean your credit card debt, how to research 401(k) funds on Morningstar, and using a loan to pay your tax bill. How to Give Money Advice That Sticks Focus on what you say and how you say […]
Thursday’s need-to-know money news
Today’s top story: 5 tips for finding the best mortgage lenders. Also in the news: 8 warning signs you won’t finish college, the best financial advice at every age, and how to make your finances more flexible before the next recession. 5 Tips for Finding the Best Mortgage Lenders 8 warning signs you won’t finish […]
Wednesday’s need-to-know money news
Today’s top story: 3 steps to spring clean your credit card debt. Also in the news: Trading privacy for car insurance discounts, how to improve your 401(k), and 4 ways to get a low-interest credit card. 3 Steps to Spring-Clean Your Credit Card Debt Spring is finally here. Should You Give Up Privacy for Car […]
Tuesday’s need-to-know money news
Today’s top story: How to reclaim tax breaks you may have missed in recent years. Also in the news: Why college students take on loans they can’t repay, 6 surefire ways to delay your tax refund, and 7 red flags that could trigger an IRS audit. Reclaim Tax Breaks You May Have Missed in Recent […]