Dear Liz: My son is a student. He would like to maximize his Roth IRA at the annual $7,000 limit and has the money in savings to do so. However, his income from odd jobs, paid in cash, will probably be less than the $7,000 required to make this maximum contribution. Can he report additional income […]
Recent Blog Posts
This week’s money news
This week’s top story: Getting a second opinion can help ward off misdiagnosis. In other news: What to know about pet insurance, 6 tips for the FAFSA delay, and questions you aren’t asking, but should during open enrollment. Getting a Second Opinion Can Help Ward Off Misdiagnosis Each year, diagnostic error leads to about 371,000 U.S. […]
Someday your boss could help you save for emergencies
When I wrote about employer-provided emergency savings accounts four years ago, the idea was still pretty novel. Some companies were experimenting with ways to help their workers save for short-term needs, but the concept wasn’t even on the radar for many employers. What a difference the pandemic made. Millions were thrown out of work with […]
This week’s money news
This week’s top story: How to protect yourself from student loan scams as bills resume. In other news: Increased commuting costs, how Disney turned Halloween into a money-making machine, and 3 steps to booking holiday travel. How to Protect Yourself From Student Loan Scams as Bills Resume If you get a random text or call about […]
Q&A: Finding an affordable fee-only financial advisor
Dear Liz: You always advocate hiring a fee-only financial advisor. But where do you really find one? I found those who say they are fee-only are really “assets under management” advisors when you dig down deep, and the cheapest fee-only advisor I’ve found costs $6,000. I just want them to look over my financial plan and […]
Q&A: You might have unclaimed retirement benefits. How to find them
Dear Liz: My wife recently received from the Social Security Administration a notice of “Potential Private Retirement Benefit Information.” It cites a 401(k) account with a previous employer with a relatively small balance and states the “year reported” as 1992. My wife does not have any recollection of ever cashing out this account. Should the account […]