The typical advice about what people should do with their tax refunds — save for retirement! pay off debt! — ignores how little wiggle room many families have with their finances. Tax refunds averaged $2,895 last year, and were the largest single cash infusion received all year by 40 percent of the checking account holders […]
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Monday’s need-to-know money news
Today’s top story: Keeping your money safe while you see the world. Also in the news: How one couple retired early, why Millennials should care about Medicare right now, and using liability insurance when driving abroad. Keep Your Money Safe While You See the World Enjoy your trip without money stresses. If You Retire Early, […]
Q&A: A husband’s death. A pile of bills. Now what?
Dear Liz: After my husband died, I was in shock and really not in my right mind for at least a year, but really more. During this time I didn’t pay attention to bills. Only the ones that were getting shut off got paid. Now I’m behind on several credit cards that I’ve had for […]
Q&A: The reasons behind falling credit score
Dear Liz: Please explain to me how one’s credit depreciates. After paying off my home, my credit score went from mid-700 to mid-600. There were no changes or inquiries. I built it back up to 734, got into a tight spot and took a loan from my bank. I just checked the score again and […]
Q&A: Can creditors get your IRA funds?
Dear Liz: You recently wrote that workplace retirement plans offer unlimited protection from creditors but that IRAs are protected only up to $1,283,025. When I transferred my 401(k) to a rollover IRA, the advisors at the brokerage assured me that the rolled-over money also enjoys the unlimited protection. Your article seems to imply otherwise. Can […]
Friday’s need-to-know money news
Today’s top story: Quick – Can you come up with $400? Also in the news: Is 4-year college right for you, car negotiating secrets for people who hate haggling, and 5myths about your 2017 tax refund and what not to do if you want to do if you want it quicker. Quick — Can You […]