It’s probably my Lutheran upbringing that makes me wary of extremism in any form. Moderation in all things, doncha know. Lately, I’m noticing extremism when it comes to paying off debt. People think they’re doing the right thing by targeting student loans and mortgages for early payoff. But they could be hurting themselves if they’re […]
Recent Blog Posts
Tuesday’s need-to-know money news
Today’s top story: How to save on your healthcare costs. Also in the news: Planning a successful retirement, how to handle new found wealth, and nine surprising stats on Social Security. 4 Ways to Save on Healthcare Costs Preparing for January’s change in health care costs. 3 Phases of Successful Retirement Planning Customizing your retirement […]
Single mom’s expenses leave no money for food
Dear Liz: I’m a single mom with three kids. My mortgage is $1,700. My other monthly bills include $355 for a car loan, $755 for school tuition, $350 for utilities, $790 for credit cards, $200 for gas, $208 for braces and $235 for a 401(k) contribution. This leaves no money for food. I get no […]
“Look back” rules limit Medicaid transfers
Dear Liz: You had an interesting column recently about the filial responsibility laws that most states have on their books requiring adult children to support indigent parents. I have friends that transferred their parents’ funds to the grandchildren so the parents will qualify for Medicaid. Doesn’t the government see through this scam? Besides being unethical, […]
Was letter writer blaming her parents?
Dear Liz: In your answer about filial responsibility, your statement that the letter writer’s financial situation is the result of her own choices and that she needs to stop blaming her parents is completely misjudged and inappropriate. Clearly, the writer is not blaming the parents and seems amazingly strong and clear thinking for one with […]
“I don’t need life insurance…my wife can just remarry.”
For a moment I was speechless. The journalist who said these words obviously thought he was being perfectly logical. He thought life insurance was a scam and he was too smart to fall for it. In a way, what he said was kind of flattering. He obviously thought his wife would have no trouble finding […]