Dear Liz: My traditional IRA contains both pre-tax and after-tax contributions. (Some years I was ineligible to deduct contributions because I was participating in an employer’s retirement program.) Now I am retired and am considering making Roth conversions from the traditional account. I admit I was a little careless about keeping track of the total after-tax […]
Recent Blog Posts
Q&A: Here’s a tip to take advantage of rising interest rates
Dear Liz: Now that interest rates on savings accounts have started to rise, I have a quick tip for you to share: Check the rate you’re getting on your accounts! I discovered my online bank changed its account structure a few years back, and legacy high-yield savings accountholders aren’t getting the recent increases. I was earning […]
How to spot a great 401(k)
Any 401(k) can help you save for retirement. A great 401(k) allows you to save a whole lot more. The difference between a mediocre plan and a great one could translate into tens of thousands of dollars in future retirement money. Plus, a 401(k)’s quality can show how serious a company is about attracting and […]
This week’s money news
This week’s top story: Smart Money podcast on buy now, pay later loans and credit reports. In other news: What to do if your homebuying plan got scrapped this year, when the car market will return to normal, and 3 steps to lower the cost of your debt. Smart Money Podcast: Money Hot Takes, and Too […]
Q&A: ‘Fee based’ vs. ‘fee only’ financial planners: There’s a big difference
Dear Liz: How do you find a fee-based financial planner? I just inherited a lot of money, and trying to figure out our future is stressing me out. Answer: That’s understandable. Getting sound advice can mean the difference between growing your newfound wealth and wasting it. But finding a good, honest, competent planner requires some work. Most […]
Q&A: Health savings account rules
Dear Liz: I established a health savings account when I was self-employed using an HSA-compliant healthcare plan. Now I am employed. My employer does not offer a health plan that was designated as an HSA, but my deductible is $7,000, higher than the minimum for an individual. Can I continue to contribute to my existing HSA? […]