When leasing a car is the more frugal option

If you need a car, the most frugal option is to buy one that’s 2 to 3 years old, pay cash and drive it until the wheels fall off. The least frugal option traditionally has been leasing, where you make monthly payments to drive a car but don’t own it. You’re paying for the vehicle […]

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Q&A: How deposit insurance limits work

Dear Liz: My parents, who are in their 80s, just moved and are about to sell their former home. Their net gain from the sale will be approximately $400,000. I am advocating they put this money in a high-yield savings account as capital preservation is key. I know an individual account is insured by the […]

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Q&A:Getting bum info from Social Security

Dear Liz: After taking Social Security early at 62, I have called, written and visited in person asking to have my benefit suspended so it can earn delayed retirement credits. Nothing has worked. Social Security representatives say I cannot change anything after the first 12 months. I turn 66 this month and wanted to get […]

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Q&A: Here’s why one donation of $1,000 beats 10 donations of $100

Dear Liz: I want to support about 10 charities and nonprofits but have a limited budget of $1,000. I’ve been dividing it among those charities, but would I have a bigger impact contributing the full amount to just one? Answer: Absolutely, for a number of reasons. Each charity spends a certain amount to process your […]

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How to create a retirement ‘paycheck’

Your expenses don’t end when your paychecks do, but creating a reliable income stream in retirement can be tricky. The right choices can result in sustainable income for the rest of your life. The wrong choices could leave you uncomfortably short of cash. In fact, retirement includes so many important, potentially irreversible decisions that most […]

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Q&A: Setting up nieces and nephews for success

Dear Liz: This is a little unorthodox, but I’m hoping you can help. I have six nieces and nephews from my various brothers and sisters. They range in age from babies to teenagers. When they get older, I want to be able to assist them with therapy sessions — not because I think their parents […]

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Q&A: Social Security for a child

Dear Liz: I will be 65 next year and have an 8-year-old son. I have been told by various people that I can receive an extra Social Security allowance for him until he is 18. These same people also said it would reduce my benefit permanently. Is that correct? Answer: Yes, plus your benefit would […]

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Friday’s need-to-know money news

Today’s top story: 6 empowering money moves to boost your financial confidence. Also in the news: Credit card fees likely to hit $40 in 2020, when everything will go on sale in 2020, and why saving for retirement is about to get easier. 6 Empowering Money Moves to Boost Your Financial Confidence A confidence boost […]

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Thursday’s need-to-know money news

Today’s top story: How to make your money biases work for you. Also in the news: How to get airline perks without elite status, where people with the best – and worst – credit card habits live in the US, and spending down your FISA starts with the right payment card. How to Make Your […]

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Wednesday’s need-to-know money news

Today’s top story: 9 money resolutions (and tips) for 2020. Also in the news: How and when to ask for a credit card retention offer, the high-interest account you’ve never heard of, and how to avoid a tax audit in 2020. 9 Money Resolutions (and Tips) for 2020 From Our Experts A chance for a […]

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