Today’s top story: Time for some financial spring cleaning. Also in the news: Apps that can make your summer vacation less expensive, how to appeal a college financial aid offer, and how banks and credit unions protect your information. Financial Spring Cleaning; 5 Steps To Get Your House In Order Getting rid of the winter […]
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Tuesday’s need-to-know money news
Today’s top story: How to trick yourself into saving more money. Also in the news: States with the highest rate of identity theft complaints, the new face of consumer banking, and mistakes that could ruin your retirement. 4 Ways to Trick Yourself Into Saving More Money You won’t even know you’re not spending it! States […]
Monday’s need-to-know money news
Today’s top story: What you need to ask before hiring a financial adviser. Also in the news: How often you should check your credit report, the benefits of tracking all of your expenses, and retirement savings mythbusting. 20 Questions to Ask Before Hiring a Financial Adviser Making sure you hire the right one. How Often […]
Q&A: Max contributions to 401(k)s
Dear Liz: I understand that anybody with a 401(k) can contribute up to $18,000. Does the amount you can contribute depend on your salary? Say you make $45,000. Therefore I would assume you could put in the full $18,000, or 40% of your salary. Am I wrong? Answer: The maximum the IRS allows someone under […]
Q&A: Capital gains taxes
Dear Liz: My wife owns a house that was separate property before our marriage. She has since fallen ill and needs round-the-clock care. I am selling the house to support this and will net about $250,000 at close. Will we have to pay capital gains taxes, or can I claim a one-time exemption, based upon […]
Q&A: Postponing Social Security
Dear Liz: My question is on when to take Social Security. My financial advisor recommends that I file for my benefit at age 66 but suspend the application so my benefit can continue to grow until it maxes out at age 70. At 66, I would receive $2,614 per month. At age 70 I would […]