Dear Liz: When I read the letter from the woman about her mother’s debts, it brought back my situation with my brother and mom. My brother was trustee to my mother’s living will and told her she had no money. At 90, she became worried and wanted to cut back on the care she needed. […]
Recent Blog Posts
Q&A: Follow up on the Windfall Elimination Provision
Dear Liz: You recently addressed the issue of the Windfall Elimination Provision, which reduces Social Security benefits for people who paid into Social Security but who also get a pension from an employer that does not pay into the system. My wife taught for nearly 40 years. Neither she nor her employer contributed to Social […]
Q&A: The tax implications of downsizing
Dear Liz: My mother just turned 75 and wants to downsize from her four-bedroom house. My father passed away six years ago. She owns her home outright, and at the time of my father’s death the value of the house was estimated at $1.2 million. Right now she has enough income from retirement accounts and […]
Q&A: Social Security survival and spousal benefits
Dear Liz: If my spouse takes spousal benefits from Social Security before his full retirement age, does that ultimately affect the survivor benefits he could receive? Answer: As covered in previous columns, applying for spousal benefits before his full retirement age of 66 or 67 will lock him into a diminished check and preclude him […]
Q&A: Using a separate credit card for online purchases and automatic payments
Dear Liz: I saw your recent column from the couple upset about the inconvenience of having to reset the automatic payments when their credit card was reissued due to fraud. We had the same problem (our credit card has been reissued six times now!) and got some great advice I’d like to share. We got […]
Tuesday’s need-to-know money news
Today’s top story: The big security threats headed our way in the new year. Also in the news: How to beef up your savings, what millennials should discuss before marriage, and tips on managing your credit cards in the new year. The Big Scams & Security Threats to Watch Out for in 2015 If you […]