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 […]
Recent Blog Posts
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 […]
Q&A: Options for transferring condo to heirs
Dear Liz: I would like to get advice on how to transfer my condo to my son and grandchildren. It looks like I don’t have too much living left and need to get a clear understanding of what would be better for me and for them. All the articles are very confusing. Can you advise me […]
How to plan for a potential inheritance
The amount of wealth millennials and Gen Xers stand to inherit from their parents and grandparents almost defies comprehension: According to Cerulli Associates, a Boston-based research and consulting firm, $84.4 trillion in wealth will be transferred between 2021 and 2045, primarily from baby boomer households to younger generations. Inheritances aren’t just for the rich: Less […]
This week’s money news
This week’s top story: Biden cancels another $9B in student debt for 125,000 borrowers. In other news: Tips for managing holiday budgets and stress, 4 ways married couples can use tax breaks to build wealth, and how climate change could affect when and where people travel. Biden Cancels Another $9B in Student Debt for 125,000 Borrowers […]
Q&A: Social Security inflation adjustments
Dear Liz: When the Social Security Administration makes its cost of living adjustments, do these increases get factored into the benefit amounts for people who are not yet collecting their Social Security? Answer: Social Security’s inflation adjustments are factored into your retirement benefits starting at age 62, whether or not you’re actually collecting checks. So there’s no reason to […]