Dear Liz: I’m 87 and drowning in debt, owing more than $21,000 with an income of $23,000 from Social Security and two small pensions. I don’t like the idea of debt consolidation but is that better than bankruptcy? My only asset is a 2003 car. Answer: Debt consolidation merely replaces one type of debt (say, […]
Recent Blog Posts
Q&A: Retirement planning needs expert help
Dear Liz: I am about to retire and have had to make some very important decisions: How should I receive my company pension, when should we start taking Social Security, should we convert some IRAs to Roths, how to best cover our healthcare needs and what the best ways are to manage our tax bill. […]
Thursday’s need-to-know money news
Today’s top story: 3 ways a separate credit card could soup up your side hustle. Also in the news: Travel insurance and winter weather woes, exercise options besides an annual gym membership, and 15 money moves to make in 2019. 3 Ways a Separate Credit Card Could Soup Up Your Side Hustle Double-dip on rewards. […]
Wednesday’s need-to-know money news
Today’s top story: Scrub these expenses from your budget in 2019. Also in the news: 3 simple strategies to max out your 401(k), how your slow cooker saves you money, and unnecessary fees to stop paying in the new year. Scrub These Expenses From Your Budget in 2019 Hitting reset on your expenses. 3 Simple […]
Q&A: Don’t value credit rewards over scores
Dear Liz: You’ve advised people that “it’s important to keep your credit utilization down, even if you pay in full (as you should).” That may be good advice regarding one’s credit score, but there is another perspective. Although we pay in full every month (and have paid no credit card interest since 1971), charging almost […]
Q&A: Social Security strategies vary by age
Dear Liz: My husband has been on Social Security disability since he was 61. He’s now 69 and receives $1,700 a month. I will be turning 66 next year. I still work and want to file for spousal benefits, which would be half of his benefit, but I’m not sure what the best option is. […]