Dear Liz: Regarding the reader who was worried about not having sufficient tax deductions: I recommend charitable giving. As our mortgage interest per payment fell, I augmented it with charitable giving to maintain the same annual total for income tax deductions (interest plus charity). As the years go by, our interest decreases and charity increases. […]
Recent Blog Posts
How should couple with age gap tap Social Security spousal benefits?
Dear Liz: I am 55 and my wife is 65. She only worked a few part-time jobs as she spent most of her working years raising our nine beautiful children. My question is, since she does not have enough credits to collect Social Security on her own work record, can she claim spousal benefits on […]
Monday’s need-to-know money news
Today’s top story: The pros and cons of couples keeping their finances separate. Also in the news: What you need to know about deducting mortgage interest, how paying old debt will affect your credit score, and when to have the retirement talk. Should Couples Keep Their Financial Assets Separate? The pros and cons. Deducting Mortgage […]
Who offers real chip-and-PIN cards in the U.S.
Most of the rest of the world has adopted more secure chip-and-PIN credit cards–which can cause some problems for Americans traveling overseas. When we were in Italy two years ago, we found our old-school magnetic-stripe cards wouldn’t work in automated kiosks. That included our British Airways card, which had a chip, but no PIN. Without […]
Friday’s need-to-know money news
Today’s top story: How the habits of early retirees could lead you to retirement. Also in the news: Things to consider when saving for a mortgage, easing financial worries with smartphone apps, and what to do when your friends are big spenders. 5 Essential Habits of Early Retirees Retire early by picking up these habits. […]
You may not be as smart as you think you are
Most people are better off delaying the start of their Social Security benefits as long as possible. That’s the consensus of the AARP, financial planners and researchers who have studied the thousands of different claiming options. In fact, the benefits of putting off Social Security have grown in recent years, thanks to low interest rates, […]