Dear Liz: A good friend is leaving me money from her IRA after she dies. I have asked that the gift be designated as “sole and separate property” to me. As I am married and file joint state and federal taxes, can this money be kept separate for my use only? I prefer that my spouse […]
Recent Blog Posts
Q&A: Social Security survivor benefits
Dear Liz: My beloved brother died recently. He was 70, retired and collecting Social Security. His husband, age 63, is still working. They had been married since 2008 but when he applied for survivor benefits, he was denied. Several in our friend group looked into this and the way we all read it, he should be entitled to […]
Q&A: When WEP doesn’t apply
Dear Liz: I am a retired police officer who worked for an organization that did not pay into Social Security or Medicare. During my career I worked side jobs and paid my own self-employment taxes to get my 40 quarters to qualify for Medicare once I reach age 65. I did have Social Security earnings for […]
This week’s money news
This week’s top story: Smart Money podcast on your Social Security benefits, and tax efficient retirement investing. In other news: Mortgage rates could slip lower in May, if a brokerage sweep account is a good place to earn interest or not, and inflation maybe starting to behave. Smart Money Podcast: Your Social Security Benefits, and Tax […]
Audit your credit cards for greater savings
Credit card rewards help our family save money on groceries, gas and other necessities. We also use rewards for airline tickets, hotel rooms and airport lounge access. We’re in good company. Most Americans have at least one rewards card, and nearly half of rewards cardholders are using their perks to help offset rising inflation, according […]
Q&A: Social Security cost of living adjustments
Dear Liz: I am 67 and am delaying taking my Social Security until age 70 to take advantage of the 8% annual deferral. I was told by an individual at the Social Security office that I won’t get any inflation adjustments, such as the 8.7% increase for this year, and that people only receive the inflation […]