Ask Liz Weston

May 13, 2024 By Liz Weston Leave a Comment

This week’s money news

This week’s top story: Home insurance companies may use aerial images to drop policies. In other news: how participating in campus protests could affect your financial aid, the worsening prescription drug shortage and how to cope with it, and balancing homebuying and summer travel.

Home Insurance Companies May Use Aerial Images to Drop Policies
Insurance companies may check photos of your home before deciding whether to renew your policy.

How Participating in Campus Protests Could Affect Your Financial Aid
Involvement in college protests could cost you your financial aid and more.

The Worsening Prescription Drug Shortage and How to Cope With It
Causes for the shortage vary but include a tornado-damaged Pfizer plant in North Carolina.

Yes, You Can Balance Homebuying and Summer Travel
Embarking on a getaway during your homebuying journey is possible — if you have a plan and don’t completely unplug.

Filed Under: Liz's Blog Tagged With: balancing homebuying and summer travel, campus protests, financial aid, home insurance policies, prescription drug shortage 2024

May 13, 2024 By Liz Weston Leave a Comment

Q&A: Need help with your IRA? Call a CPA, or maybe a PFS

Dear Liz: My husband and I have substantial pre-tax savings in our workplace retirement plans and IRAs. Based on where those balances would be in retirement, we would definitely be paying more in taxes than now, and face the potential of running out of money if forced to withdraw it all. You often refer people to […]

Filed Under: Financial Advisors, Q&A, Taxes

May 13, 2024 By Liz Weston Leave a Comment

Q&A: Safeguarding your personal data is hard. Here are a few tips.

Dear Liz: I was recently alerted that my Social Security number has been found on the dark web. My information was part of the AT&T breach that took place recently. I am no longer an AT&T customer and haven’t been for several years, but they have not made any contact with me. What do I do […]

Filed Under: Identity Theft, Q&A, Scams

May 6, 2024 By Liz Weston Leave a Comment

This week’s money news

This week’s top story: 7 surprising facts about credit cards. In other news: Weekly mortgage rates rise again, look to last-minute scholarships when you can’t control FAFSA delays, and best cities for freelancers and self-employed workers 2024. 7 Surprising Facts About Credit Cards Card issuers have a lot of leeway in terms of when and how […]

Filed Under: Liz's Blog Tagged With: best cities for freelancers and self-employed workers 2024, Credit Cards, FAFSA delays 2024, scholarships, weekly mortgage rates May 2024

May 6, 2024 By Liz Weston Leave a Comment

Q&A: A sticky inheritance scenario

Dear Liz: I have an adult daughter by a previous marriage who has no savings or retirement funds. I want to change my living trust to ensure that my daughter only receives a monthly amount similar to my required minimum distribution from my IRA, plus half of our paid-off house after my wife and I pass […]

Filed Under: Inheritance, Q&A

May 6, 2024 By Liz Weston Leave a Comment

Q&A: Credit for time spent on a DIY home project?

Dear Liz: My husband remodeled all of the bathrooms in our home. We have receipts for the materials we purchased so that we can reduce our capital gains when we sell our home. Can we claim my husband’s time as labor costs for the home improvements? Answer: No. You can add the cost of improvements to your […]

Filed Under: Q&A, Taxes

April 29, 2024 By Liz Weston Leave a Comment

This week’s money news

This week’s top story: These states plan to phase out gas car sales. In other news: How to help your loved one navigate the costs of dementia care, weekly mortgage rates are up, but prices are the real villain, and new airline requirements. These States Plan to Phase Out Gas Car Sales California, New Jersey and […]

Filed Under: Liz's Blog Tagged With: mortgage rates April 2024, new airline requirements 2024, plan to wind down gas vehicle sales, the costs of dementia care

April 29, 2024 By Liz Weston Leave a Comment

Q&A: Managing mortgage debt in retirement

Dear Liz: My husband and I are Gen Xers who are renting. We have enough cash from the sale of our last home to make a small down payment on another. If we moved to a more affordable community, we could manage the payments, but it would still be a stretch. That scenario would not […]

Filed Under: Mortgages, Q&A, Retirement

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