Get smart with your money
Today’s top story: More than half of travelers have the same New Year’s resolution. Also in the news: Saving on a new car from the factory, how to travel to Super Bowl LVI on a budget, and how to help your parents navigate health care in retirement. More Than Half of Travelers Have the Same […]
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Today’s top story: 5 banking facts to fortify your finances. Also in the news: Taking a new look at banking in 2022, 6 predictions for small businesses, and how to stop wasting your gift cards. 5 Banking Facts to Fortify Your Finances in 2022 2022. New year. New you. New look at banking? It would […]
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Today’s top story: How to help your parents navigate health care in retirement. Also in the news: What to buy (and skip) in January, borrow a 2022 money goal from a finance nerd, and would you relocate for $10K? How to Help Your Parents Navigate Health Care in Retirement Try these tips to be the […]
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Dear Liz: I am in my third marriage. My first two marriages each lasted 10 years. My spouses worked in jobs requiring them to pay into Social Security. I am currently retired (since 1999) and worked for a city government my entire career. I currently receive a pension from the city. Am I entitled to […]
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Dear Liz: I would love to give my grandchildren money, but I don’t want to pay the income tax on withdrawals from my IRA or 401(k). Will they get it tax-free when I die? Answer: Unfortunately, no. Withdrawals from retirement accounts are generally taxable, whether the person making the withdrawals is the original contributor or […]
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Dear Liz: A reader recently asked about giving a rental house to the sister that has been living in it for 10 years. You mentioned that the reader would have to file a gift tax return since there is a max of $15,000 for a gift exemption. Couldn’t the owner simply add the sister to […]
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Dear Liz: Our 23-year-old daughter has a low-limit credit card from her bank, primarily to build her credit history. For the same purpose, we also added her as an authorized user on one of our credit cards (yes, we can trust her). When she checked her credit reports recently at annualcreditreport.com, one of the agencies […]
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Today’s top story: Student loan pause is extended. Also in the news: A new episode of the Smart Money podcast on what our listeners accomplished this year, 6 Instagram tips for small-business owners, and for young adults, building credit starts now. Student Loan Pause is Extended Payments will resume May 2nd. Smart Money Podcast: What […]
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Dear Liz: You recently advised against keeping one’s will in the bank safe deposit box. That was on the grounds that upon death, the bank could seal the box. My daughter is named on my box (she is also named as executrix) — that is, the bank ran her through several hoops, and the result […]
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Dear Liz: You recently advised a person to leave their original will or trust with their attorney. As a practicing attorney, I cannot tell you how many times original wills and trusts have been lost as the attorney that prepared the documents retired or died before the client. There are requirements to inform clients of […]
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