The odds of winning a lottery are infinitesimal. Yet inevitably, someone does. Inspired by the idea of a huge payoff, millions of people burn money on lottery tickets. The financial strategies below aren’t as much of a long shot as the lottery. More than a handful of people may actually benefit. But many who are […]
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Tuesday’s need-to-know money news
Today’s top story: Budgeting for college students. Also in the news: What to do when the GI Bill won’t cover college, 6 ways to travel cheaply, and why frugal retirees are ditching the 4% rule and hoarding their savings instead. Budgeting for College Students: Where to Start You don’t have to live on ramen. What […]
Monday’s need-to-know money news
Today’s top story: What to do when you’ve reached your savings goal. Also in the news: What to do when you’re upside down on a car loan, Social Security surprises that may leave money on the table, and what to do if you need $100 fast. Reached Your Savings Goals? Here’s What to Do Next […]
Q&A: Health savings accounts can supercharge retirement funds, but not for this guy
Dear Liz: Prior to retiring in 2015, I contributed to a health savings account. At the time my spouse and I were enrolled in my employer-provided high deductible health insurance plan. After I retired, I enrolled in an HMO plan my employer provided, which is not high deductible, and my wife enrolled in a Medicare […]
Q&A: This trust avoids probate (but not death and taxes)
Dear Liz: Reading your articles I understand that having a revocable living trust makes transferring wealth quicker and easier. What about taxes? If you use a will to bequeath your house, for example, the beneficiaries get a stepped-up cost basis. What are the taxes with a revocable living trust? Do you pay taxes on assets […]
Q&A: So many credit scores — here’s how to get yours
Dear Liz: You recently discussed FICO scores. Please let me know how I can get mine. My bank says it can only give my husband his score because he is the principal on our account. Answer: Remember that you don’t have one FICO credit score, you have many. Lenders use different versions and generations of […]