Dear Liz: I just turned 50. My company has an option to contribute pretax money to a regular 401(k) or after-tax money into a Roth 401(k). Should I put the maximum contribution ($17,500) plus the catch-up ($5,500) into the Roth? Or should I split my contributions? Answer: Given that you’re close to retirement, putting most […]
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Q&A: An offer of “help”
Dear Liz: My husband and I lost our home because of unemployment and being underwater (the value of the house was less than the mortgage). We now both are working full time and saving to buy another home. My father-in-law offered to help us by selling us a rental he owns and giving us a […]
Friday’s need-to-know money news
Today’s top story: How to determine whether to rent or buy. Also in the news: Becoming a better car buyer, how to save during wedding planning, and how to protect your finances during a divorce. Is It Better to Rent or Buy? These calculators will help you decide. 3 Ways to Be a Better Car […]
Thursday’s need-to-know money news
Today’s top story: The pros and cons of becoming a landlord. Also in the news: The painless way to create a budget, which metro areas have the best cost of living, and why you need to change you eBay password immediately. Is Becoming a Landlord Worth It? Passive income is great, but it can come […]
Wednesday’s need-to-know money news
Today’s top story: Why new graduates need to keep a close watch on their identities. Also in the news: How to get someone to resolve your banking complaints, why travel medical insurance is essential for international travel, and five ways to start saving for your child’s education. 4 Ways New Grads Are Vulnerable to Identity […]
Credit scores “overly penalized” for medical bills, regulator says
If you have a collection account on your credit reports, chances are pretty good it’s from a medical bill. And chances are also good that the collection is having an outsized impact on your credit scores. Today the Consumer Financial Protection Bureau released a study saying credit scores unfairly penalized people with medical collections. Those […]