Today’s top story: Preparing to deal with debt collectors. Also in the news: Getting financial help while caring for elderly parents, why parents’ personal finance decisions are changing, and how to avoid being scammed by the wolves of Wall Street. What to Do Before Debt Collectors Call Have your numbers in order. Retirement: Get financial […]
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Tuesday’s need-to-know money news
Today’s top story: Finding the best balance transfer credit card. Also in the news: Keeping your financial resolutions, what not to buy at the drugstore, and the latest on the Target credit data breach. The Best Balance Transfer Credit Cards in America Ranking the contenders. 8 Hacks to Help You Keep Your Resolutions After three […]
Seven ways to help your child get more money for college
LOS ANGELES (Reuters) – If you know much about college financing, you probably know the basics of improving a financial aid package: Save in your own name, rather than your child’s, fill out the Free Application for Federal Student Aid as soon after January 1 as possible and look for scholarships and other “free money” […]
What same sex couples–and their advisors–need to know
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 […]
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 […]