Dear Liz: I’m 54 and plan on retiring at 55 with a government pension. I have about $450,000 in a 457(b) deferred compensation plan. I owe about $220,000 on my home. I would like to pay off my 15-year, 2.5% interest mortgage. This would free up $1,900 a month and leave us debt-free. Everyone I’ve […]
Recent Blog Posts
Q&A: Too many cards?
Dear Liz: My husband and I have opened accounts to take advantage of 0% interest financing for special purchases. These accounts are paid in full prior to the end of the promotional period and we don’t use them again. I’ve read to not ever close any accounts, but am nervous about having so many accounts […]
Friday’s need-to-know money news
Today’s top story: 5 times your credit card issuer can raise your interest rates. Also in the news: 3 DIY options for making a will online, how to split insurance in a divorce, and how much you can make in the freelance economy. 5 Times Your Credit Card Issuer Can Raise Your Interest Rate How […]
Thursday’s need-to-know money news
Today’s top story: 5 questions when shopping for a brokerage account. Also in the news: Is a robo-advisor right for you, why higher prices are squeezing both buyers and renters, and how a wife got her family out of $40,000 in debt. 5 Questions When Shopping for a Brokerage Account What you need to know. […]
Tuesday’s need-to-know money news
Today’s top story: 401(k) mistakes for new grads to avoid. Also in the news: 6 financial questions you’re too embarrassed to ask, why you should scatter your bank accounts, and 5 facts that prove Americans don’t know anything about managing money. New Grads, Don’t Make These 401(k) Mistakes Plan carefully. 6 Financial Aid Questions You’re […]
Are you afraid to look at your finances?
Credit counselor Linda Humburg understands why many of her debt-burdened clients don’t want to open their mail. What bothers her, though, is the sheer volume of untouched bills and collection notices that some bring to their first counseling appointments. “The shoeboxes (full of bills) don’t make my heart drop as much as the grocery bags […]