Dear Liz: You answered a question from a mother who was concerned that her son didn’t understand the financial implications of being an independent contractor rather than an employee. From what she wrote, the company employing him may not be following the law. The IRS has criteria to determine whether the worker qualifies as a […]
Recent Blog Posts
Q&A: Delaying Social Security
Dear Liz: In a recent column you mentioned Social Security’s delayed retirement credit, writing that someone’s benefit could grow 32% by delaying benefits for four years between ages 66 and 70. Four years’ worth of accrued 8% increases in Social Security result in a cumulative increase of 36%, not 32%. I would think any financial […]
Q&A: Nearing retirement and in debt? Now isn’t the time to tap retirement savings
Dear Liz: I’m 60 and owe about $12,000 on a home equity line of credit at a variable interest rate now at 7%. I won’t start paying that down until my other, lower-interest balances are paid off in about two years. I have about $130,000, or about 20%, of my qualified savings sitting in cash […]
Thursday’s need-to-know money news
Today’s top story: 4 ways to cut your tax bill by April 15th. Also in the news: How banking apps can motivate you to save, what to do in a bank outage like Wells Fargo’s, and how to make extra money online. 4 Ways to Cut Your Tax Bill by April 15 (Yes, There’s Still […]
Wednesday’s need-to-know money news
Today’s top story: 6 things your side gig will probably do to your taxes. Also in the news: How banking apps can motivate you to save, contributing to your IRA by April 15th could lower your 2018 tax bill, and social media is making Valentine’s Day super expensive for millennials. 6 Things That Side Gig […]
Tuesday’s need-to-know money news
Today’s top story: 5 tips for cutting the cost of having your taxes done. Also in the news: How to find the dirt on your tax preparer, making the most of a gig economy to pay down debt, and 11 smart ways to spend your tax refund. 5 Tips for Cutting the Cost of Having […]