Dear Liz: I am one-third owner of a vacation house. My siblings own the other two-thirds. We inherited the house from a parent about 10 years ago. I want to sell my third to my siblings, who are willing and able to buy it. Can I do anything to avoid capital gains? Would it make a […]
Recent Blog Posts
Q&A: How delayed Social Security retirement credits work
Dear Liz: I just got off the phone with the Social Security folks and they told me the 8% delayed retirement credit is based on your benefit at full retirement age, rather than an 8% increase every year based on the previous year’s amount. So, if my full retirement age benefit was $3,000, my benefit increases […]
Q&A: Whether to close elderly mom’s CDs
Dear Liz: I have the power of attorney for my 92-year-old mother, who has dementia. She has numerous financial accounts including money market, checking and savings accounts and certificates of deposit. When she passes, would it be easier to settle her estate if I start closing her CDs now and put that money into, say, her […]
Q&A: Don’t close that credit card
Dear Liz: I’m debt free with a comfortable income and excellent credit. I just got a new cash-back credit card. I have three other credit cards, including one affiliated with a retail chain that I no longer use. Should I close the retail chain card so I only have three cards? Should I have fewer? Answer: More […]
How to get comfortable with taking smart financial risks
Making money, whether by putting cash into the stock market, buying a home or jumping to a better-paying job, requires some degree of risk. While embracing any of those moves might feel as scary as skydiving off a cliff, there are times when a little risk makes financial sense. “In certain scenarios, not taking enough […]
This week’s money news
This week’s top story: Steps to do before the redesigned 2024 FAFSA launches in December. In other news: 3 ways to stretch your dollar on a European vacation in 2023, the best time to book holiday travel is very soon, and housing shortage can’t be fixed with polite nudges, pocket change. Do This Before the Redesigned […]