Dear Liz: My dad recently passed away. He was technically married, however his wife kicked him out of their home three years prior to his passing, making him homeless. Is she eligible to receive Social Security survivor benefits? Answer: Social Security doesn’t try to gauge how married a couple was. As long as they were legally wed, she […]
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This week’s money news
This week’s top story: How to set good money examples for kids. In other news: Cyber Monday sales, 5 credit card rewards pitfalls to avoid this holiday season, how NYC crackdown on Airbnb, Vrbo-style rentals affects travelers. How to Set Good Money Examples for Kids Your money-related actions and conversations can model positive behaviors for kids, […]
Companies’ deceptive ‘dark patterns’ online cost you money — here’s how to fight back
See if any of this sounds familiar: ● You can’t find an easy way to cancel an unwanted subscription, so you let it continue for another month — telling yourself you’ll try again later. ● You feel rushed into an online purchase you regret, but there’s no option to undo the transaction or demand a […]
Q&A: Roth IRAs and taxes
Dear Liz: I sold some stocks from a Roth IRA to pay for some bad debts. Is this going to count as taxable income for this year? Answer: You can always withdraw the amount you contributed to a Roth IRA without owing income taxes or penalties. For example, if you withdrew $10,000 but your contributions over the years totaled […]
Q&A: What happens to joint credit cards after your spouse dies?
Dear Liz: My husband died last year and we have three credit cards in his name with me as authorized user. When applying for new credit, do I still use his name or my name now? And should I remove his name and put my name only on all accounts? Answer: You’ll apply for new credit in your own […]
Q&A: IRA investments and minimum distributions
Dear Liz: I have an IRA invested in stocks, bonds and Treasury bonds. I’m 60 now and am hoping to retire in a few years. When I stop work and start pulling money from my IRA, can I withdraw a security or Treasury bond? Or must I first sell the security or Treasury bond, and then […]