Dear Liz: After a spouse’s death, I am wondering if there is some guidance on how long to keep items such as a driver’s license, Social Security card, Medicare and health plan card, passport, veteran’s information and so on. I haven’t seen this addressed in your column. Answer: Guidance about what to keep and discard after a […]
Recent Blog Posts
Why retirees may want to buy an immediate annuity now
An immediate annuity is an insurance product that provides guaranteed income: You give an insurer a chunk of money, and the company gives you a stream of payments that can last for life. The payments begin within 12 months of purchase. Now may be a good time for retirees to buy an immediate annuity, since […]
This week’s money news
This week’s top story: UAW strike at targeted the big three auto companies. In other news: 5 credit card scams to watch out for this holiday season, the most valuable airline miles might surprise you, and the interest rate hike you may already be paying for. UAW Worker: ‘These Jobs Were Gold Standard’ The union is […]
Q&A: Social Security survivor benefits
Dear Liz: I’m 70, collecting Social Security since age 62 and still working. My ex-wife passed away a few years ago at 67. We were married for 25 years. I read that I could collect on her Social Security benefits as the survivor, but Social Security said no. What did I not understand about this? Answer: Many […]
Q&A: What happens when your unmarried life partner dies without a will?
Dear Liz: A close friend recently lost her partner of many decades. The partner left no will or trust or anything in writing. The partner owned many properties and had a huge IRA and lots of money in the bank, but all in the partner’s name alone. My friend asked an estate lawyer and the lawyer […]
Q&A: Tax consequences of annuity conversion
Dear Liz: Several years ago my wife inherited an IRA when her mother died. Her banker suggested rolling the IRA into an annuity with an insurance company. That company is difficult to deal with and not forthcoming about how the annuity is invested. She wants to convert the IRA into a certificate of deposit so […]