Our financial decision-making abilities peak in our 50s and can decline pretty rapidly after age 70, researchers tell us. That’s how otherwise smart older people fall for sweepstakes frauds, Nigerian investment schemes and the grandparent scam, where con artists pretend to be grandchildren in a financial jam. But few people want to hear that they’re […]
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Monday’s need-to-know money news
Today’s top story: Determining the best way to do your taxes. Also in the news: Refinancing an FHA loan, what’s next for the stock market, and why now is the time to hunt for higher rates on your bank accounts. Determining the Best Way to Do Your Taxes Finding the way that works best for […]
Q&A: How to tell if you’ve got the right financial advisor
Dear Liz: I have met with a financial advisor, but he wants every investment to go through him. Although he is an advisor, he works for a company and wants me to buy their products. I’m a little resistant about this. What’s your advice? Answer: Anyone can call himself or herself a financial advisor or […]
Q&A: Cleaning up your credit score
Dear Liz: I have several small dings on my credit. I’m now in the position to pay them off, but how do I know my credit will be improved? Should I call the companies and ask if they will remove it if I pay in full and get it in writing? Answer: Paying off collections […]
Q&A: Avoiding estate taxes
Dear Liz: You recently answered a question about what a wealthy couple could do to reduce future estate taxes, and you mentioned the annual exclusion. They also could pay education and medical expenses for anyone, and there’s no annual limit. Answer: Absolutely — and the couple’s estate planning attorney almost certainly would have informed them […]
Friday’s need-to-know money news
Today’s top story: IRS changes you should know about before filing taxes. Also in the news: How to avoid your parents’ money mistakes, how to avoid tax scammers, and what to do when you’re struggling with student debt. IRS Changes You Should Know About Before Filing Your Taxes New rules for the new year. How […]