Dear Liz: For the first time, I signed up for a high-deductible insurance plan along with a health savings account. However, I don’t quite understand a couple of key concepts. When our medical bills roll in, will we pay using our personal credit card or the HSA card provided by my employer? We have no trouble […]
Recent Blog Posts
Q&A: Transferring bonds after a spouse dies
Dear Liz: In 2001 I bought $50,000 worth of I Bonds. Half of them were in my name with my wife as beneficiary; the other half were in her name with me as beneficiary. She died two years ago but I do not want to cash her bonds in. How do I get them in my […]
Q&A: Explaining required minimum distributions
Dear Liz: When my wife reached age 59½, we initiated required minimum distributions for all of her retirement funds. During the process, the investment company representative stated that as long as she was still working and contributing to her 401(k) and 403(b) at work, she was not required to take RMDs for those accounts. With all […]
Smart steps to take when helping your grandchildren financially
In his early 20s, Chris Chen’s nephew dreamed of becoming a professional photographer, but to pursue that dream, he needed equipment that cost over $5,000. His nephew worked hard to save $1,500, then his maternal grandmother provided an additional $750. Chen, a certified financial planner in Newton, Massachusetts, covered the rest. “It helped him understand […]
This week’s money news
This week’s top story: December mortgage rate forecast. In other news: 2024 housing trends, 5 steps to creating financial boundaries during the holidays, and how to make a liberal arts degree count. December Mortgage Rate Forecast: Falling and Heading Lower Mortgage rates are likely to slip a bit lower in December as inflation cools. 2024 Housing […]
Q&A: Transferring a house to heirs
Dear Liz: We are updating our estate plan to account for the transferral of our home to our six children when we die. The home currently has a large mortgage balance on it. We would prefer that it not have to go through probate, and that any outstanding mortgage balance would not be immediately due. I […]