Ask Liz Weston

March 23, 2015 By Liz Weston

Q&A: How to help family while on a limited budget

Dear Liz: My son, who is almost 50, is mentally and emotionally challenged. He has been unemployed and homeless for years. Although not a criminal, he’s been in jail a few times because of his explosive, combative nature. There seems to be no help for him in the state where he lives. I do send […]

Filed Under: Q&A, The Basics Tagged With: family and money, mental health, q&a

March 23, 2015 By Liz Weston

Q&A: Rolling traditional IRA to a 403(b)

Dear Liz: My husband and I both have employer-sponsored 403(b) retirement plans. We each also have a Roth IRA, and I have a traditional IRA that I started in the 1980s before I started work with my current employer. I do not actively contribute to this traditional IRA as I am contributing the maximum amount […]

Filed Under: Investing, Q&A, Retirement Tagged With: Investing, q&a, Retirement

March 23, 2015 By Liz Weston

Q&A: Social Security solvency

Dear Liz: Can you tell us what the status is of the Social Security system? Will the money that I and my employers have paid into the system be there for me when I need it in 15 or 20 years? Answer: The money you pay into the system provides benefits for current retirees. When […]

Filed Under: Q&A, Retirement Tagged With: q&a, Retirement, Social Security, solvency

March 20, 2015 By Liz Weston

Friday’s need-to-know money news

Today’s top story: Why the Fed’s rate changes won’t immediately impact your loans. Also in the news:Why all credit checks aren’t created equal, how to avoid an IRS audit, and the four pillars of building wealth. Why Fed Moves Won’t Hugely Affect Your Loans Anytime Soon A slow creep instead of a dramatic jump. Do […]

Filed Under: Liz's Blog Tagged With: building wealth, credit checks, data breach, interest rates, IRS, Target, tax audits, tips

March 19, 2015 By Liz Weston

Thursday’s need-to-know money news

Today’s top story: A dangerous new type of identity theft is on the rise. Also in the news: Tax breaks overlooked by small business owners, how CD loans could cover short-term needs, and the first thing to do when you get a new credit card. The Surprising Kind of Identity Theft You Probably Haven’t Heard […]

Filed Under: Liz's Blog Tagged With: CD loans, Credit Cards, Identity Theft, medical identity theft, millennials, tax breaks, tax tips

March 18, 2015 By Liz Weston

Wednesday’s need-to-know money news

Today’s top story: Little known ways to get your student loans forgiven. Also in the news: What to do when you can’t pay your taxes on time, tools that can help you build wealth for the future, and great ideas for you tax refund. 5 Little-Known Ways to Get Your Student Loans Forgiven Do you […]

Filed Under: Liz's Blog Tagged With: student loan forgiveness, Student Loans, tax extension, tax refunds, Taxes, tips

March 17, 2015 By Liz Weston

Tuesday’s need-to-know money news

Today’s top story: Tax tips for military personnel. Also in the news: What to do when your credit card interest rate goes up, how to handle tax return fraud, and how to survive financially when you don’t have an emergency fund. Top Tax Tips for Military Personnel Military service comes with some unique tax breaks. […]

Filed Under: Liz's Blog Tagged With: credit card interest rates, Credit Cards, emergency funds, Identity Theft, military benefits, military service, tax fraud, Taxes

March 16, 2015 By Liz Weston

Monday’s need-to-know money news

Today’s top story: The downsides of low-interest credit cards. Also in the news: How to beat a spending addiction, the complicated world of the Alternative Minimum Tax, and how to get a better credit card rate by threatening to cancel. 7 Downsides of Low-Interest Credit Cards What’s great in the short terms could come back […]

Filed Under: Liz's Blog Tagged With: AMT, Credit Cards, low interest credit cards, spending addictions, Taxes

March 16, 2015 By Liz Weston

Q&A: IRA interest rate terms

Dear Liz: I went to renew my IRA certificate of deposit and the bank officer suggested that I renew at the greater rate being offered for a five-year term (about 1.5% APR) rather than the lower rate for a one-year term (about 1% APR). She explained that since I am over 59 1/2, I can […]

Filed Under: Banking, Q&A, Retirement Tagged With: interest rates, IRA, q&a

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