First, you were supposed to die at 85. Then 90. Now 95 and even 100 are common defaults when financial planners tell people how much to save for retirement. Except that’s nuts. In the U.S., the typical man at age 65 is expected to live another 18 years. The typical woman, about 20. Yet many […]
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Monday’s need-to-know money news
Today’s top story: Six things that scare your financial advisor. Also in the news: How to report a tax cheat, releasing a student loan co-signer, and the top 10 affordable cities for renters. 6 Things That Scare Your Financial Advisor What keeps them up at night. How to Report a Tax Cheat and Get a […]
Q&A: How does a lottery winner find a financial advisor she can trust?
Dear Liz: I’m a middle-aged, single, childless woman who won a very nice lottery prize. I took the “cash value” option and after paying federal tax, I was left with $1.2 million. I would like to pay cash for a home, have a tidy nest egg put aside and have money for travel and other […]
Q&A: Clash over the state of their mother’s estate
Dear Liz: My husband’s mother passed away in January. His younger sister was executor of the estate. His mother had investments of close to $1 million prior to 2008. She supposedly lost half her investments with the downturn. When she passed away, my husband’s sister said that there was nothing left in the estate. What […]
Q&A: Co-signing a grandchild’s student loan
Dear Liz: My granddaughter, who will graduate college in a year, has asked me to co-sign her third private loan, which will bring her total debt to $30,000. She needs three people to co-sign. Her parents and the other grandparents have agreed and she wants me to be the third party. I love my granddaughter […]
Friday’s need-to-know money news
Today’s top story: Protecting your kids and your data while playing Pokemon GO. Also in the news: Bankruptcy means test, the hidden student loan cost no one talks about, and what to do when you’ve been dumped by your bank. Pokémon Go: How to Keep Your Kids and Your Data Safe Gotta catch ’em all! […]