Amazon. Chipotle. GoPro. These household-name businesses were launched thanks to investments by the founders’ parents. But parents also have sunk plenty of money into their offsprings’ doomed enterprises, sometimes endangering their retirements and family relationships in the process. In my latest for the Associated Press, how not to offer money you can’t afford to lose.
Recent Blog Posts
Monday’s need-to-know money news
Today’s top story: TSA-Approved ways to cut the airport screening line. Also in the news: How to talk retirement with your spouse, the most and least affordable areas in the country, and things to consider before co-signing a student loan. TSA-Approved Ways to Cut the Airport Screening Line Is TSA pre-check worth the price? How […]
Q&A: One spouse’s debts might haunt the other after death
Dear Liz: I have a terminal illness and have less than a year to live. My wife and I are in our 80s and don’t own anything: no cars, no homes. My wife has an IRA worth $140,000 that pays us $2,000 a month, and she has a small pension of $1,400 a month. We […]
Q&A: Reverse mortgages have improved but still require caution
Dear Liz: You’ve written about the potential financial flexibility and options for preserving quality of life for seniors by using a reverse mortgage line of credit. I believe there is a great need for much more cautionary advice regarding reverse mortgages. Someone I know entered into a reverse mortgage and the consequences have been disastrous. […]
Q&A: Credit freeze may be inconvenient, but it’s effective
Dear Liz: Is freezing one’s credit reports the safest bet even though it’s inconvenient to get it temporarily unfrozen? Plus you have to pay a fee. At my son’s urging, I had my credit reports frozen since the Equifax incident but I find it very inconvenient whenever some financial firms need to look into my […]
Friday’s need-to-know money news
Today’s top story: How your credit card can help you save on summer travel. Also in the news: 7 steps to save on hardwood flooring costs, how not to be a knucklehead on Venmo, and how to boost your benefits at work. How Your Credit Card Can Help You Save on Summer Travel Using credit […]