Dear Liz: Are indexed universal life insurance products worthwhile, and how do they compare to a Roth IRA? Answer: Both offer the potential for tax-free distributions in retirement, but indexed universal life insurance is a complex product with high expenses that’s not a good fit for most investors. With a Roth IRA, virtually all of your money can […]
Recent Blog Posts
This week’s money news
This week’s top story: Smart Money podcast on more money hot takes, and leaving your job. In other news: How businesses can navigate digital options, forgiveness, forbearance and other student loan changes to know, and what concierge medicine is. Smart Money Podcast: More Money Hot Takes, and Leaving Your Job This week’s episode starts with a […]
Q&A: Social Security is insurance
Dear Liz: My wife was 69 at the time of her passing. She was still working and not collecting Social Security. I am 72, retired and collecting Social Security. When I spoke with Social Security, I was told that I cannot collect on my wife’s Social Security. All I qualify for is a $255 death benefit. […]
Q&A: Roth IRA or traditional IRA? Here’s why one might be a better choice for young workers
Dear Liz: My mid-20s nephews and I discussed financial planning for them. After recommending they check with their employers for a 401(k) or equivalent program, we spoke about traditional versus Roth IRAs. Would younger investors benefit more from a Roth IRA because the length of time the money would be invested is so long that the eventual tax-free […]
Q&A: Vehicle insurance coverage limits
Dear Liz: You recently answered a question from someone who lent a van to a friend for more than a year. You mentioned the borrower “may have benefited from free insurance coverage if you continued to pay those premiums.” Some insurance companies limit the time they extend coverage when a car is driven by someone other than the […]
How to make summer camp more affordable
To create a fun but affordable summer for her daughters, ages 11 and 13, Flossie McCowald plans out camps well in advance. The Pennsylvania resident snags early bird discounts, takes advantage of a church-based sleepaway camp that offers scholarships and leverages sibling discounts. “Every little bit helps,” says McCowald, who is the founder of SuperMomHacks.com, […]