Dear Liz: I am 55 and a single mom of three teenagers. My money has been sitting at a discount brokerage firm unmanaged … ugh!! I need help, but I am afraid to hire someone who will lose my money. Plus, two of my kids are old enough now to open a retirement account. We need […]
Recent Blog Posts
Q&A: How to get a debt collector to stop calling about a bogus bill
Dear Liz: I’m getting daily robocalls from a debt collection agency, even though a check of our current credit reports shows that we owe no one anything. (My husband and I both have stellar credit.) Google tells me that this collection agency is known for shadiness and that the Consumer Financial Protection Bureau has fined it […]
You’ll probably live longer than you think
Women often don’t score as well as men in surveys of financial literacy. One area where we seem to do better is “longevity literacy,” or understanding how long we’re likely to live. Longevity literacy is essential to smart retirement planning. Overestimate your longevity, and you could retire too late or scrimp too much. Underestimate it […]
This week’s money news
This week’s top story: Smart Money podcast on money scams, and renting credit card tradelines for cash. In other news: AI and hiring decisions, June 2023 rent report, and CFPB warning that student loan borrowers will struggle with repayment. Smart Money Podcast: Money Scams, and Renting Credit Card Tradelines for Cash This week’s episode starts with […]
Q&A: Annuities can come with a tax surprise
Dear Liz: I made a one-time purchase of a variable deferred annuity with a $10,000 inheritance I received about 25 years ago, based on a co-worker’s advice. Over the years I have not made any additional payments or withdrawn any funds. It matures in about a year with an option of withdrawing the lump sum, which was nearly […]
Q&A: Social Security misunderstandings
Dear Liz: As a former Social Security Administration employee, I can tell you there are countless times people misunderstand the information that is provided to them or only hear what they want to hear. There is no incentive for the employees to misinform or mislead people. Maybe you can begin your responses by saying, “If what […]