I’ve been through several recessions now, and they all had at least one thing in common: people complained that the economists who declared an official end to the downturn were out of touch, because it didn’t feel like the recession was over. Recoveries take a while to spread through the economy, which means people experience […]
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Thursday’s need-to-know money news
A September financial to-do list, the benefits of having multiple bank accounts, and why being cheap could make you more attractive to other people. 5 Credit Mistakes Older Americans Make Paying attention to your credit is especially important as you get older. The Financial Moves You Should Make in September How to prepare for upcoming […]
Wednesday’s need-to-know money news
Getting creative with your down payment, must-have documents for estate planning, and common mistakes to avoid when buying your first home. 5 Creative Ways to Come Up With a Down Payment None of which involve selling a kidney! 3 Retirement Planning Tactics to Adopt Before You Hit 60 These tactics will make the transition to […]
Ex is trashing her credit scores
Dear Liz: How long must I be punished for my ex’s poor payment history? In our divorce he agreed to pay the credit cards and other bills. He defaulted and has filed for a Chapter 13 bankruptcy. My credit scores plummeted, and recently one of the cards I obtained on my own to help rebuild […]
Spousal vs. survivor benefits: the key differences
Dear Liz: I am 66 years old. When I was 60, my husband of 42 years died. He was a banker with more than 40 years of work history at a good income level. I remarried a year later. When I was 62, I was downsized and took early Social Security benefits based on my […]
Missed deadline could limit inherited Roth IRA’s benefits
Dear Liz: I inherited my brother’s Roth IRA about three years ago. I find it hard to get any information about non-spousal inherited Roths. Can you tell me more about this type of Roth IRA? Answer: It may be unfortunate that you didn’t ask sooner. When a spouse inherits a Roth IRA, he can roll […]