Dear Liz: I need guidance on asset allocation in retirement. I will retire in June at 65. I’m in good health, so I am planning for 30 more years of life, understanding that it could easily be fewer and might be more. I have a robust government pension and a good chunk of retirement savings. Targeting […]
Recent Blog Posts
Q&A: How this heir can head off challenges to her mother’s estate
Dear Liz: My mother and her second husband have been married for over 25 years. They are both in their 60s. I am her only child. Mother has created a will in which I am the sole beneficiary. She owns three properties, two of which are here in California and one is abroad. Do I have […]
Q&A: Social Security hit from capital gains
Dear Liz: Due to capital gains on the sale of a property, my monthly Social Security check is impacted by IRMAA, the income-related monthly adjustment amount for Medicare. Therefore not only do I not receive the recent cost-of-living increase, but my benefit substantially decreased. My question is: After a year will my monthly benefit go back […]
Q&A: How gifting property before you die gives your kids a tax headache
Dear Liz: My wife and I have purchased a few properties over the years and now we would like to give these properties to our children. I’ve read that the best way to gift properties is to wait until we pass away, which sounds terrible. Is there any way to transfer or gift properties without paying […]
Q&A: Qualified charitable distributions
Dear Liz: This is the year I turned 73, and I’m planning how to take my required minimum distribution from my IRA and 403(b) accounts. I know from a Google search that I can redirect this distribution to charities without being taxed, up to a certain amount. However, the financial services company holding my 403(b) money […]
This week’s money news
This week’s top story: How to cope debt and chronic pain. In other news: Maximize your credit card rewards with minimal effort, what to do if your hospital drops your Medicare Advantage plan, and how a global pandemic made us richer four years later. Debt and Chronic Pain Can Be Connected. Here’s How to Cope Study […]