Q&A: How Social Security child benefits work

Dear Liz: I am drawing Social Security and my daughter just turned 18. Will she lose her Social Security and can I claim my wife in her place? Answer: Child benefits, which is what your daughter receives, are designed to help the dependent minor children of Social Security recipients who are retired, disabled or deceased. […]

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Friday’s need-to-know money news

Today’s top story: 7 ways small-business owners can save on taxes in 2022. Also in the news: Check your DMs for debt collectors and scams, coupling your finances for Valentine’s Day, and how one couple reconciled their relationship with money. 7 Ways Small-Business Owners Can Save on Taxes in 2022 Seven things entrepreneurs and independent […]

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Thursday’s need-to-know money news

Today’s top story: How to get what you want at your next job. Also in the news: Some travelers could benefit from a Spirit-Frontier merger, the most romantic money moves you can make, and how to lock in Amazon Prime at the old rate. How to Get What You Want at Your Next Job Tips […]

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Wednesday’s need-to-know money news

Today’s top story: Should you get travel insurance for your spring break trip? Also in the news: Credit cards charge ahead with rewards for driving electric, what you need to know about multicurrency accounts, and 4 ways to save on bachelor and bachelorette parties. Should You Get Travel Insurance for Your Spring Break Trip? Check […]

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Tuesday’s need-to-know money news

Today’s top story: IRS scraps plan to use ID.me selfies for account verification. Also in the news: How to approach taxes if you traded cryptocurrency in 2021, only 23% of investors align their investments to their values, and how to choose the right cryptocurrency wallet. IRS Scraps Plan to Use ID.me Selfies for Account Verification […]

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Monday’s need-to-know money news

Today’s top story: Do you really need a million dollar life insurance policy? Also in the news: A new episode of the Smart Money podcast on stock market shakiness, DIY vs Calling a Pro, and everything you need to know about your next side hustle. Do I Really Need a Million-Dollar Life Insurance Policy? You […]

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Q&A: Plan for taxes after mortgage payoff

Dear Liz: In a recent column, you answered a question from a couple who just paid off their mortgage. You suggested increasing retirement or emergency savings or possibly charitable contributions. All good, but you should have pointed out that the mortgage lender will not be responsible for paying the property tax and fire insurance going […]

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Q&A: Social Security is insurance

Dear Liz: My wife died in March 2020. I receive nothing from her Social Security (other than $255) and will receive only a portion of mine due to the windfall elimination provision. Is there anything I can do since I am receiving none of what she paid into Social Security and only a fraction of […]

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Q&A: Trusts and wills aren’t the same thing. Here’s how they work

Dear Liz: I understand what happens with a living trust when both spouses die at once. But what happens when just one dies? Is the trust tossed out, since the surviving spouse is usually the trustee? What about the stuff that the deceased wanted to go to his or her kids? And what about the […]

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Friday’s need-to-know money news

Today’s top story: How to get what you want at your next job. Also in the news: Medicare to offer free at home COVID-19 tests in early spring, how your parents’ debt could outlive them, and what you need to know before you claim your child tax credit this season. How to Get What You […]

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