Dear Liz: Your recent column about advanced directives said that people could get a free version at PrepareForYourCare.org. I found there is a charge. Is this for all online directives? Answer: Prepare is a free site supported by donations, grants and licensing agreements. If you were asked to pay, you either clicked the donate button or weren’t […]
Recent Blog Posts
Q&A: How to fix a mistaken contribution to an IRA
Dear Liz: When I retired, I had a small 401(k) with about $12,000 in it. Instead of rolling that money into an IRA, I took a distribution and paid taxes on it. I had no immediate need for the remaining funds, so eventually I opened a new IRA account and deposited the money. I now realize […]
Q&A: Closing credit accounts doesn’t need to be a big deal
Dear Liz: Your recent response to the person giving bad advice about closing credit accounts was truly a public service. Over the years, I have opened and closed many credit accounts. Only once was a credit card closed for non-usage by the issuer and there was no major degradation of my credit score. Never has one […]
Q&A: Medicare premium increase offsets cost-of-living boost
Dear Liz: My wife and I are well over 70 and receive Social Security. We pay for Medicare Part B as well as IRMAA (Income-Related Monthly Adjustment Amount) for Part B and Part D via deductions from our monthly checks. We just received our annual notice from the Social Security Administration of the 2.8% cost-of-living increase […]
Q&A: Where can I get advice on saving money?
Dear Liz: Could you possibly recommend a financial advisor I could sit down with who could counsel me on ways to save money? I work a full-time clerical job, but worry all the time about being homeless someday. Answer: Talking with a financial expert can help you formulate a sound plan for your future, which in turn […]
Q&A: Account closure caused long-lasting score drop
Dear Liz: A reader mentioned recently their credit score dropped only four points after closing a credit card they had since 1981. Three years ago I closed a credit card that was over 30 years old and my credit score dropped 20 to 35 points, depending on the credit reporting bureau. My score hasn’t gone up […]