Last summer’s Supreme Court decisions on same sex marriage created a sea change for gay couples, but the details of that change depend on where they got married, where they live now and the federal agencies involved. The changes are dramatic and complex enough that financial advisors should contact any clients with same sex partners […]
Recent Blog Posts
Who should save 10%
Dear Liz: I often hear financial planners say you should save 10% of your income, but they don’t go into exactly what that means. Is that 10% separate from retirement or including retirement? Does that include saving for your emergency fund? Is this just archaic advice now? I’m 46 with only $40,000 saved for retirement […]
One way around early withdrawal penalties
Dear Liz: My son is 52 and has been unemployed for three years. He has been forced to withdraw money from his 401(k) and pay early withdrawal penalties on it to pay his mortgage and other bills. Is there such a thing as a hardship exception to avoid this tax bill? Answer: There’s a way […]
Why you want an emergency fund
Dear Liz: I regularly read about people in your column who don’t feel the need for an emergency fund, or think they only need a small one. This is one of the many issues that makes me glad that my husband takes care of the finances. We are both professionals with graduate degrees who, for […]
Monday’s need-to-know money news
Today’s top story: Savings experts reveal ways you save money. Also in the news: How to manage your debt as you get older, how to avoid medical identity theft, and what to do when you’re addicted to credit cards. Financial Expert Reveals Three ‘Super Savings Solutions’ Everyday ways you can save money. Too Old to […]
Friday’s need-to-know money news
Today’s top story: Security tips from a former identity thief. Also in the news: What to teach teen about debt, tax mistakes you don’t know you’re making, and tips on retiring early. 4 Security Tips From a Former Fraudster Advice on how to protect yourself from guys like him. 4 Things Your Teen Needs to […]