Dear Liz: I’m expecting a bonus this year of about $10,000. Should I pay off $6,000 in back taxes on which I’m currently paying $428 per month on a never-ending installment agreement? Or would it be better to pay off one of our $5,000 credit cards accruing 19% to 22% interest? Answer: You didn’t mention […]
Recent Blog Posts
Q&A: Maxing out retirement savings
Dear Liz: My husband and I are in our late 40s. We’re in a good financial position and trying to max out our retirement savings. We have small traditional IRAs and are now above the income limit to deduct contributions to it. We have Roth IRAs that we converted from traditional IRAs several years ago […]
Q&A: Unsolicited financial advice
Dear Liz: Your answer to the financially savvy brother whose advice is lost on his sisters was a bit harsh and shortsighted, so my guess is that you may not know anyone who has siblings who will continue for the next few decades to need help. It is hard to deny a sibling help while […]
Friday’s need-to-know money news
Today’s top story: What to do if you’re an Anthem insurance customer. Also in the news: TurboTax stops state filings, how your own personal lottery can add up to big savings, and how your pet can fetch a tax deduction. Millions of Anthem Customers Exposed: What It Means for You Find out what you should […]
Thursday’s need-to-know money news
Today’s top story: There’s been a massive data beach at Anthem Insurance. Also in the news: Personal finance questions that should be answered before you say “I do”. learning your investment vocabulary, and assumptions that could hurt your retirement plans. Massive breach at health care company Anthem Inc. As many as 80 million customers have […]
Wednesday’s need-to-know money news
Today’s top story: Americans and their 401(k) savings. Also in then news: How to make taxes easier with your smartphone, what you should know about long-term care insurance, and what to do if your teen is destined for bad credit. Good News and Bad News for Americans’ 401(k) Savings Get your hand out of the […]