Dear Liz: When I was 62, I started Social Security and I’m currently saving half of my monthly benefit after taxes (about $750). My decision to take my benefits early was influenced by a financial columnist who suggested that if I started at 62 and invested half or more of it until I reached full […]
Recent Blog Posts
High, safe returns don’t exist
Dear Liz: I’m getting about $500,000 from the sale of my business this year and next year will be getting an additional $1 million. What’s the best way to invest the money so I can make $150,000 to $200,000 a year? I am 55 years old and will have no other income than what I […]
Paper statements may not be necessary
Dear Liz: I’m wondering how long we really need to keep bank statements, since banks now offer paperless options. My son doesn’t even open the statements anymore; he just views his account information online. Answer: There’s nothing magical about paper bank statements. If your son doesn’t open them, he probably shouldn’t even get them. He […]
Get 50% off some great money books!
FT Press is offering half off (and free shipping!) on a selection of finance and investing titles through May 16. In addition to two of mine, “Deal with Your Debt” and “Your Credit Score,” the titles include Gail MarksJarvis’ excellent “Saving for Retirement” and Lynn O’Shaughnessy’s “The College Solution,” a must-read for any parent who […]
Experian to offer FICOs to consumers again
Experian stopped offering FICO scores to consumers a few years ago, even though it continued to sell the scores to lenders. This refusal made it tough for consumers to know what rates they should expect from mortgage lenders, which typically take the middle of your three FICO scores (one from each bureau). You could still […]
How credit scores are like cats
When people complain that credit scoring formulas aren’t fair or consumer friendly, I think of my Great Auntie M. Great Auntie M. was a lovely older woman, and she was besotted with her cat. Great Auntie M. once told me that if she died first, she wanted the cat euthanized since he “couldn’t possibly live” […]