For Ambus Hunter, what started as a fun trip to Las Vegas when he was 25 soon turned into a gambling addiction. “I got consumed with the vibes,” he says, recalling how he loved the feeling of winning at first. He began gambling back home in the Midwest and on business trips, playing roulette whenever […]
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This week’s money news
This week’s top story: Life insurance living benefits. In other news: What you can do dealing with FAFSA glitches and confusion, what you can do when no-warning credit limit cuts happen, and more student loan changes are on the way. What Are Life Insurance Living Benefits? Life insurance living benefits provide extra financial security while you’re still […]
Q&A: What to know about capital gains tax on a house sale
Dear Liz: My husband died in November 2022. I was told that if I sell the house within two years of his death, I can benefit from two capital gains exclusions, his and mine, each for $250,000. The house was appraised at $912,000 based on his date of death. I don’t imagine it would sell for […]
Q&A: Using 529 accounts on groceries
Dear Liz: You said 529 accounts could not be used for groceries. I searched on the internet and found that students can use 529 money to purchase meals off campus and buy groceries. Which is correct? Answer: The original letter writer’s child lived on campus, so the amount the family can withdraw tax free from the 529 account is limited to what they […]
3 time-sensitive money tasks for new widows and widowers
Widows and widowers are often told not to make any major decisions for a year or more after a spouse’s death. Grief can cause you to make choices you later regret. Some financial tasks, though, shouldn’t be postponed. Revising your budget, meeting with a tax pro and securing access to credit can help protect you […]
This week’s money news
This week’s top story: White House touts U.S. economy’s strength as election year begins. In other news: 5 signs you should consolidate your credit card debt in 2024, the cost of literally keeping your chin up, and 5 cities where you can book a 5-star hotel for cheap. White House Touts U.S. Economy’s Strength as Election […]