Dear Liz: If a surviving spouse is selling the couple’s longtime home, are there any special provisions on the long-term capital gains? Answer: When one spouse dies, their half of the home gets a new value for tax purposes. The value is “stepped up” to the current market value, so that the appreciation that happened on that half of […]
Recent Blog Posts
How to create your retirement glide path
In investing terms, a “glide path ” describes how a mix of investments changes over time. Typically, the mix gets more conservative — with fewer stocks and more bonds, for example — as the investor approaches a goal such as retirement. You also can create a glide path into retirement by making gradual changes in […]
This week’s money news
This week’s top story: Smart Money podcast on data breaches, and catching up on retirement savings. In other news: How airline elite status saved the day when airline delays and cancellations strike, which airline elite status should you go for in 2023, and how pay transparency may affect your job search or next raise. Smart Money […]
Q&A: A gift for the great-grandkids? Consider a 529 college savings plan
Dear Liz: Recently my granddaughter gave birth to twins. I’d like to put $500 into a trust for each of them to mature when they are 18. I’m hesitant to set up an education fund in case they decide not to go on to college. I would like something that includes growth and safety, the least […]
Q&A: Checking survivor benefit eligibility
Dear Liz: I was widowed at 44, when my children were 10 and 12. I received Social Security benefits for myself and for them for a time. I then went back to work. I started taking Social Security at 65 even though I continued working until 70. I hear a lot about widows’ benefits and wonder […]
How to tackle holiday debt in January
After years of being in debt, Rachel Kramer Bussel came to a realization: “If I don’t become proactive about it, I will be in debt for the rest of my life.” For Bussel, a freelance writer near Atlantic City, New Jersey, that meant scaling back spending and putting any available money toward the debt principal. […]