Dear Liz: I have the power of attorney for my 92-year-old mother, who has dementia. She has numerous financial accounts including money market, checking and savings accounts and certificates of deposit. When she passes, would it be easier to settle her estate if I start closing her CDs now and put that money into, say, her […]
Recent Blog Posts
Q&A: Don’t close that credit card
Dear Liz: I’m debt free with a comfortable income and excellent credit. I just got a new cash-back credit card. I have three other credit cards, including one affiliated with a retail chain that I no longer use. Should I close the retail chain card so I only have three cards? Should I have fewer? Answer: More […]
How to get comfortable with taking smart financial risks
Making money, whether by putting cash into the stock market, buying a home or jumping to a better-paying job, requires some degree of risk. While embracing any of those moves might feel as scary as skydiving off a cliff, there are times when a little risk makes financial sense. “In certain scenarios, not taking enough […]
This week’s money news
This week’s top story: Steps to do before the redesigned 2024 FAFSA launches in December. In other news: 3 ways to stretch your dollar on a European vacation in 2023, the best time to book holiday travel is very soon, and housing shortage can’t be fixed with polite nudges, pocket change. Do This Before the Redesigned […]
Q&A: Establishing credit without debt
Dear Liz: My wife and I are retired. We have always paid our credit card balances in full each month and have zero debt. A banker recently advised us to establish credit and make timely monthly payments in order to maintain a high credit rating in case we need to borrow in the future. I feel […]
Q&A: Social Security spousal benefits
Dear Liz: I qualified for Social Security and receive a benefit. My wife did not work long enough to get a benefit, yet she receives a small amount each month. What is this from? What happens to it at her death? Answer: Her benefit is probably a spousal benefit, which is based on your work record. Spousal benefits can […]