Dear Liz: I am 79, in fairly good health and fortunately have almost $600,000 in my IRA account. My minimum required distribution is currently about $30,000 a year, which means my IRA funds will last until I am well over 100! I realize that I can pay a penalty and draw down some of the […]
Recent Blog Posts
Q&A: Where to find financial planner fiduciary oath
Dear Liz: You often mention that a financial planner should be “willing to sign a fiduciary oath to put your interests first.” Is there a form or formatted letter available to financial planners who are willing to sign said oath? Answer: There is. The Committee for the Fiduciary Standard, a group that promotes the idea […]
Friday’s need-to-know money news
Today’s top story: What you can learn from the tax hike on Super Bowl players. Also in the news: 3 tactics to tame your credit card debt worries, could Bitcoin be the next legendary investment bubble, and six mistakes people make when hiring a financial advisor. Super Bowl Players’ Tax Hike May Have a Lesson […]
Thursday’s need-to-know money news
Today’s top story: What to do if the new tax law changes your paycheck. Also in the news: The smartest way to use gift cards, giving up your brick-and-mortar bank, and smart money moves for Black Americans in financial distress. What to Do If the New Tax Law Changes Your Paycheck What to look out […]
Wednesday’s need-to-know money news
Today’s top story: What a travel agent can do for you that a search engine can’t. Also in the news: How one couple paid off over $200,000 in debt, 6 ways to weed out shady schools, and why your credit score may not be as good as you think it is. What a Travel Agent […]
The right way to give your teen an allowance
Here’s an idea: Hand your teenagers hundreds of dollars in one lump sum and leave it up to them to manage the money for the next, say, six to 12 months. Anyone who’s ever had or been a teenager may quail at the thought, but experts say this approach actually can work much better than […]