Today’s top story: Having the talk about college costs with your teen. Also in the news: How the new tax law affects vacation homes, what to do when an airline loses your bag, and thinking twice before paying for accident forgiveness. Having ‘The Talk’ About College Costs With Your Teen Managing expectations. How the new […]
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With money goals, multitasking pays off
Tackling money goals one at a time cost financial literacy expert Barbara O’Neill at least $1 million. That’s how much O’Neill, a distinguished professor at Rutgers University, figures she lost by starting saving for retirement only after she had created an emergency fund, bought a car with cash and purchased a home. “I tell students […]
Monday’s need-to-know money news
Today’s top story: Smart ways to rein in holiday spending. Also in the news: Budgeting before Black Friday to prevent costly regrets, why you should check travel prices before Black Friday, and 7 things not to buy on Cyber Monday. Smart Ways to Rein In Holiday Spending Keeping your expenses in check. Budget Before Black […]
Q&A: What to do when your bank gets picky about accepting a power of attorney
Dear Liz: My husband’s brother had a stroke and is now incapacitated. My husband needs to take over his finances. The bank will not accept the durable power of attorney that they set up 14 years ago because it is “too old.” Another bank asked me if it was set up less than six months […]
Q&A: When to merge 401(k) accounts
Dear Liz: I have $640,000 in a previous employer’s 401(k) and $100,000 in my new employer’s plan. Do you recommend I merge the two? Both funds offer similar investment options. My only motivation is based on simplifying paperwork during retirement, although there may be other advantages I am not aware of. Answer: The choice of […]
Q&A: Many factors go into rental choice
Dear Liz: You recently answered a reader who didn’t want to keep and rent out the home she inherited with her brother. You mentioned that if he refused to buy her out, she could go to court to force a sale. Another option is to hire a property management company to provide a buffer between […]