Dear Liz: We are just getting to the age where mandatory distributions from our retirement accounts have to start. We don’t need the additional cash as we have great pensions. If we convert to Roth IRAs, will the amount in the Roth be subject to minimum deductions going forward? Will our heir have to pay any taxes […]
Recent Blog Posts
5 surprising facts about assisted living
If you or a loved one can no longer live safely at home, assisted living may be the answer. Residents typically live in their own rooms or apartments and get housekeeping services, meals and help with personal care. But facilities can vary enormously, and people’s expectations about assisted living often clash with reality, elder care […]
This week’s money news
This week’s top story: October mortgage rates forecast. In other news: 6 pitfalls to avoid when shopping for Medicare Advantage, 5 tips to get primed and ready for Amazon’s October Prime Day, and entrepreneurs feeling less optimistic as rates rise. October Mortgage Rates Forecast: Highest in 2 Decades In September, mortgage rates reached their highest […]
Q&A: Paying a grandchild’s student loans
Dear Liz: Regarding the grandparent who would like to pay off a grandchild’s student loans. You wrote that paying off the loans would be considered a gift. However, if the grandparent paid the funds to the institution that originated the student loan, would it then not be a gift? This would exempt the grandparent from filing the […]
Q&A: Pensions and Social Security benefits
Dear Liz: I am a teacher getting ready to retire. I have been collecting a spousal benefit from my husband’s Social Security. My understanding is that once I start collecting my pension, I will be subject to the windfall elimination provision. Is there a way to continue to collect against my husband’s Social Security, which is greater than […]
Q&A: How to dump your broker and invest your own money
Dear Liz: I have a mutual fund and a Roth IRA that are actively managed by a broker. The accounts have not done well. I would like to withdraw them from the broker and reinvest them on my own. How do I safely and securely withdraw them from the broker? What paperwork and fees should I expect? Answer: Look […]