Dear Liz: I know a high balance on a credit card hurts your credit score and that it’s best to keep balances low and pay them off each month. But does the same theory hold true for installment borrowing such as auto or student loans, which obviously have a higher balance in the beginning of […]
Recent Blog Posts
Should life insurance be renewed in retirement?
Dear Liz: My life insurance policy of $500,000 will end in four years, when I’m 63. My wife’s policy ends at age 62. Our kids are 28 and 25 and successfully launched with careers. I also have a $180,000 life insurance policy through my job that expires when I plan to retire, also at age […]
Old check may still have value
Dear Liz: You recently answered a question from a reader who found an old refund check that couldn’t be cashed. You pointed out that checks typically must be cashed within six months or they’re worthless. But your reader should check the unclaimed-property department of his state. Each state has laws that all companies must follow […]
Emergency funds: How much is enough?
Dear Liz: A lot of financial advice sites say you should have an emergency fund equal to three to six months of living expenses. What would be considered living expenses? Should you use three to six months of your net take-home pay or a smaller number? Is three to six months really enough? Answer: Let’s […]
About to retire? Get some help
Dear Liz: I am approaching being able to retire in three years at 56, but I’m really concerned with the current market conditions. I have around $320,000 in 401(k) and 457 accounts now, all of it invested in stocks. Should I scale this back to more moderate allocations? My pension will pay me around $5,200 […]
Avoid tax refund ripoffs, and think twice about getting married
My recent MSN Money columns, in case you missed them: How to avoid tax-return rip-offs Beware of promises to get your refund faster. Refund anticipation loans are gone, and what’s replaced them isn’t worth the cost. Gay marriage can muddle finances Gay and in love? You might want to wait to marry. ‘Boomerang’ kids: Moving […]