Q&A: Postponing Social Security

Dear Liz: My question is on when to take Social Security. My financial advisor recommends that I file for my benefit at age 66 but suspend the application so my benefit can continue to grow until it maxes out at age 70. At 66, I would receive $2,614 per month. At age 70 I would […]

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Friday’s need-to-know money news

Today’s top story: What happens to your credit after you die? Also in the news: Secrets to buying long-term-care insurance, how to calculate your personal savings rate, and five steps to planning a secure retirement. What Happens to Your Credit When You Die? Who, if anyone, is responsible for paying it off? 4 Secrets to […]

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Thursday’s need-to-know money news

Today’s top story: Common money mistakes you need to avoid. Also in the news: When should you get professional help for education expenses, what you need to do in order to retire in the next five years, and five of the craziest credit card perks. 11 Common Money Mistakes You Don’t Want to Make Watch […]

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Why “Get scholarships!” is bad advice

We had a great Twitter chat today about preparing financially for college, hosted by Experian. (You’ll find the tweets using #creditchat.) I was distressed, though, that many believe people should look for scholarships as a way to reduce college costs. That’s not how it usually works. If you have financial need, colleges typically deduct the […]

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4 hacks to boost your credit scores–fast

Losing points from your credit scores is all too easy — and getting them back is hard. But if you know how credit scoring works, you can hack the process to rehabilitate your numbers faster. Here are four effective strategies to do just that. (This article first appeared as “4 hacks to boost your credit […]

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Wednesday’s need-to-know money news

Today’s top story: How to cut your monthly bills. Also in the news: College savings mistakes, how to survive a late start in saving for retirement, and what everyone needs to know about credit scores. 6 ways to cut your monthly bills Every little bit helps. The Biggest Mistakes People Make Saving For College It’s […]

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Tuesday’s need-to-know money news

Today’s top story: Unraveling the mysteries of the FICO score. Also in the news: What you shouldn’t buy with your tax refund, teaching your kids good money habits, and 11 common money mistakes to avoid. How Many FICO Scores Are There? More than you’d think. 5 things not to buy with your tax refund Put […]

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Monday’s need-to-know money news

Today’s top story: The ten things you need to know about credit scores. Also in the news: Five ways to save in managing your money, why passive income is worth more than active income, and six retirement planning rules for single women. 10 Things Everyone Should Know About Credit Scores What you need to know. […]

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Q&A: Shifting Roth IRA Broker Fees

Dear Liz: What can I do to stop my broker from deducting trading fees from my Roth IRA contributions, which I make monthly? Let’s say I invest $420 each month, but the broker takes $7, or $84 a year. Shouldn’t this be payable from a separate source so that I can invest the full contribution […]

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Q&A: Social Security spousal benefits

Dear Liz: I’m 52 and my wife is 57. I recently retired from the military and will have a small retirement from my new job. When should I take Social Security and when should she take hers? Her letter from the Social Security Administration says that based on her work record, she will receive $88 […]

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