Get smart with your money
Dear Liz: I’ve been researching the backdoor Roth IRA and I am finding some conflicting information regarding taxes owed on the conversions. I have two sizable rollover IRAs and one small ($1,600) traditional IRA. Can I make an after-tax contribution to the traditional IRA and convert that to a Roth and pay tax only on […]
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Dear Liz: I bought a home and the seller financed the sale. I have made all payments on time, but that’s not reflected on my reports at the three credit bureaus. What can I do to get my mortgage payments acknowledged on my credit reports? Answer: One of the advantages of seller financing — where […]
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Dear Liz: I was a fortunate individual and able to save enough money to cover my expenses for at least six months in case I became unemployed. Now I am retired with a fair amount of guaranteed monthly income through my Social Security and pension benefits. Any suggestion on what to do with that savings […]
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Today’s top story: How to reclaim money lost to COVID disruptions. Also in the news: How phone calls can save you money, start early to get your house retirement-ready, and which states have extended their tax deadlines. It’s Not Too Late to Reclaim Money ‘Lost’ to COVID Disruptions A chargeback can be a helpful tool, […]
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Today’s top story: Start early to get your house retirement-ready. Also in the news: Why these federal student loan borrowers are out of luck, 5 options for people who can’t afford their tax bills, and why big tax refunds aren’t as great as they seem. Start Early to Get Your House Retirement-Ready Most homes aren’t […]
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Today’s top story: College costs far outpace wages many students could earn. Also in the news: A look at earning hotel elite status in 2021, how California theme parks have adjusted to the pandemic, and how to claim your $10,200 unemployment tax break. College Costs Far Outpace Wages Many Students Could Earn Working can help […]
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Today’s top story: How many funds you should own to save for retirement. Also in the news: COVID tax breaks could open door to student loan forgiveness, better savers spend less money on these 3 things, and how to track your third stimulus payment. How Many Funds Should I Own to Save for Retirement? How […]
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Many people want to remain in their homes after they retire rather than move to a senior living facility or community. Unfortunately, most homes aren’t set up to help us age safely and affordably. If your goal is to “age in place,” some advance preparation could help make that possible — or point to better […]
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Today’s top story: Does Medicare cover COVID testing and vaccines? Also in the news: A new episode of the Smart Money podcast on procrastination and paying student loans vs investing, 3 ways COVID has reshuffled our finances, and how the car you drive can raise your auto insurance rates. Does Medicare Cover COVID Testing and […]
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Dear Liz: I’m frustrated with my FICO scores. At one point they were well into the 800s and now they languish in the 720 to 730 range. I have no debt — no mortgage or car loan — and fully pay off two credit cards monthly. I have millions (fact, not bragging) in assets with […]
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