The American working class lost a shocking amount of wealth in recent decades as wages stagnated. Despite campaign promises, making up that lost ground will be no easy feat. Creating more well-paying jobs would help, but that could take years. Tax cuts could mean bigger paychecks for higher earners but won’t immediately help the many […]
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Tuesday’s need-to-know money news
Today’s top story: Don’t hit the brakes on uninsured motorist coverage. Also in the news: Giving your child excellent credit, the pros and cons of telemedicine, and how to trim your tax burden. Don’t Hit the Brakes on Uninsured Motorist Coverage Protect yourself from the unexpected. Sean Talks Money: How to Give Your Child Excellent […]
Q&A: How to make sure your financial planner is looking out for you
Dear Liz: As a recent retiree, I opened an IRA with a well-reputed, independent financial planner. I was assured of our fiduciary relationship and told “besides, it will soon be law” that advisors will have to put their clients’ interests first when offering advice about retirement funds. I guess that whole “soon to be law” […]
Q&A: Which is better: Will or living trust?
Dear Liz: I am 48 and my wife is 45. Should we set up a will or a living trust? Which is better? Answer: One of the major differences between wills and living trusts is whether the estate has to go through probate, which is the court process that typically follows death. Living trusts avoid […]
Q&A:Prenup may help with student loan issue
Dear Liz: You recently heard from someone who discovered after marriage that his wife had more than $100,000 in student loans. Would having a prenuptial agreement help in this situation? Answer: Possibly. Debts incurred before marriage are considered separate rather than joint debts, but creditors still sometimes try to go after joint assets to get […]
Friday’s need-to-know money news
Today’s top story: Consumers have a powerful tool in credit card chargebacks. Also in the news: Credit card trends for 2017, how to stay on budget and still have a social life, and deducting your student loan interest. Consumers Have Powerful Tool in Credit Card Chargebacks When to dispute a charge. 4 Credit Card Trends […]