Dear Liz: I’m receiving numerous email offers from big banks offering significant incentives and bonuses to open checking and savings accounts. I usually don’t pay much attention to them but the latest one is offering $900 to open these accounts. I’ve read all the fine print and understand all the requirements, but I can’t help but […]
Recent Blog Posts
Q&A: What’s a qualified charitable distribution?
Dear Liz: I have a suggestion for the couple who is facing the start of required minimum distributions from their retirement accounts but who do not need the money. They could consider making a qualified charitable distribution (QCD). A QCD allows you to donate to a charity directly from your IRA and satisfies your RMD requirement. […]
Does a 401(k) employer match tempt you to cash out?
Many companies try to help their workers to save for retirement. Employers often offer 401(k)s, company matches and automatic enrollment to encourage saving. Much of that effort goes to waste, though, when employees leave. A study published last year in Marketing Science, a peer-reviewed research journal, found more than 40% of departing workers cashed out […]
This week’s money news
This week’s top story: Watch for these 3 Medigap shopping surprises to avoid overpaying. In other news: What home buyers should know as mortgage rates top 8%, cut EV costs with electric company incentives, and what to buy on Black Friday and Cyber Monday 2023. Watch for These 3 Medigap Shopping Surprises to Avoid Overpaying Medicare […]
Q&A: Helping beneficiaries find documents
Dear Liz: Not so much a question but a follow-up to previous advice in your column. I agree online statements are safe and reasonable but suggest keeping at least one printed statement a year from each account with important papers. Also, take time to place “transfer on death” beneficiaries on each account. My younger brother passed away without […]
Q&A: Trusts and taxes
Dear Liz: My parents set up a family trust, which my brother and I have now inherited but not fully distributed. Included in that trust was the understanding that $130,000 would go to my daughter who is now 23. She has not received any of the money yet but would like to receive it within the […]