Dear Liz: I’ve seen advertisements for services that promise to help you raise your credit score by the exact number of points you need to qualify for a good mortgage rate. Are these services worth the money? Answer: There’s one thing you need to know about these services: They don’t have access to the actual […]
Recent Blog Posts
IRA distribution could go into Roth
Dear Liz: You recently answered a reader who wondered whether he could delay mandatory distributions from his traditional IRA because he was still working. You said correctly that he could delay taking required minimum distributions from a 401(k) but not an IRA. But as long as the questioner is working full time and meets the […]
My book is out! Get it for free.
“Deal with Your Debt” is now available, and I’m giving away five copies this week. To enter to win, leave a comment here on my blog (not my Facebook page). Click on the tab above the post that says “comments.” Make sure to include your email address, which won’t show up with your comment, but […]
401(k) withdrawals can be postponed, but not those from IRAs
Dear Liz: I just turned 70. Must I draw now from my IRA? I still work full time. I heard from one investment company representative that since I work, there is an exemption that I may not have to start withdrawals. Is this true? Answer: Withdrawals from retirement plans typically must begin after age 70-1/2. […]
Combat zone contractors don’t get Roth IRA perk
Dear Liz: I’m working as a contractor in Afghanistan. Since we are overseas in a combat zone, our pay is nontaxable. Can I contribute some of this untaxed money to a Roth IRA and still be able to withdraw it tax free in retirement? I’ve heard that’s true, but the way I read the law […]
Roommate may be not be telling the truth about his credit
Dear Liz: I have a roommate who has truly bad credit. He has been turned down from getting a checking account at banks because his mom bounced checks on his account when he was 18 (he is now 31). What is the best way to rehab his credit? He can’t get a secured credit card […]