Dear Liz: The letter writer who asked about Roth conversions should also consider that they or their spouse will eventually be a widow(er) and will be subject to the income tax “widow’s penalty.” Roth conversions now protect the survivor against some of that tax bite. Answer: The widow’s penalty refers to the higher financial burden many survivors […]
Recent Blog Posts
Q&A: Can Roth conversions help reduce the widow’s penalty?
Q&A: What to do when you missed years of inherited IRA distributions
Dear Liz: I inherited my father’s IRA through a trust in 2010. Unbeknownst to me at the time, I’ve now found out I should have taken that money out over the following years, but I didn’t. I turned 73 in May of this year, and I’d like advice on what I should do with that account. […]
Q&A: Can you revoke a revocable trust?
Dear Liz: Is it possible to revoke an irrevocable trust? Answer: Surprisingly, yes, in some cases it’s possible to revoke an irrevocable trust, depending on state law, the terms of the trust and the circumstances. For example, a trust could be dissolved or changed if all the beneficiaries agree and a court approves. In other cases, assets […]
Q&A: What to do when a stolen IRS check is altered and cashed
Dear Liz: My mail with a check to the IRS was stolen from inside the post office (I dropped it into the internal wall slot). The envelope was pre-addressed to the IRS P.O. box. The payee on the check was altered. The memo section text was removed, and parts of the upper-left section of the check […]
Q&A: Are credit card surcharges a tax windfall for businesses?
Dear Liz: Regarding the fees charged to use credit cards. Aren’t the fees charged by the credit card companies considered deductible expenses on the businesses’ taxes? It seems that if the customer pays the surcharge then the business claims a deduction on its taxes, the business is getting a big benefit. It’s nothing but a scam. […]
Q&A: Should grandparents open their own 529 plans?
Dear Liz: My two grandchildren are in middle school and are expected to attend college. I’d like to contribute to 529 plans for them, possibly making five years’ worth of contributions at once. Should I contribute to the plans their parents have established, or open separate 529s so I can maintain control? I’m 86 and live […]
Books
Some of the links below are affiliate links. This means if you click on the link and purchase the item, I will receive an affiliate commission.
-
Your Credit Score: How to Improve the 3-Digit Number that Shapes Your Financial Future (5th edition)
Improve your credit score, for real, with the #1 best-selling guide you can trust! Today, a good credit score is essential for getting credit, getting a job, even getting car insurance or a cellphone. Now, best selling journalist Liz Pulliam Weston has thoroughly updated her top-selling guide to credit scores, with crucial new information for protecting (or rebuilding) yours.
-
Deal with Your Debt: Free Yourself from What You Owe
Struggling with debt? Get realistic help that's actually useful.
In this extensively updated guide, you can discover how to control and manage debt effectively. You'll learn which debts can actually help build wealth over time, and which are simply toxic. You'll find up-to-date, real-world strategies for assessing and paying off debt, money-saving insights on which debts to tackle first, and crucial information about everything from debt consolidation loans to credit scores and credit counseling. Weston offers practical guidelines for assessing how much debt is safe -- and compassionate, realistic guidance if you've gone beyond the safety zone. If you've ever worried about debt, you'll find the new edition of Deal with Your Debt absolutely indispensable.
-
There Are No Dumb Questions About Money: Answers and Advice to Help You Make the Most of Your Finances
There’s a myth in our society that some people are just naturally “good” with money. So naturally, everybody else must be “bad”--or at least, dumb--if they’re not sure what to do.
The reality is, no one is born a money expert. Those who are “good” with money had to learn: by reading, asking questions, and consulting people who know more than they do. No one knows everything, and the only dumb questions are the ones you don’t ask.
This collection of money questions and answers can help you solve your most pressing concerns about your finances. You can buy this ebook on iTunes or on Amazon.
-
The 10 Commandments of Money: Survive and Thrive in the New Economy
From the #1 personal finance columnist on the Internet (Nielsen/NetRatings)-a clear prescription for financial health in the 2010s and beyond.
For previous generations, living within your means was a simple formula. Now, with the staggering rise in education, health care, and housing costs, millions of people find themselves skating from paycheck to paycheck with no idea how to move forward.
As the most-read personal finance columnist on the Internet, Liz Weston has heard the questions and has the answers. Her 10 Commandments of Money will help readers avoid critical mistakes, survive the bad times, and thrive in the good ones.
-
Easy Money: How to Simplify Your Finances and Get What You Want Out of Life
Common sense. Easy solutions. Plain English.
Best selling author, Liz Weston, takes on the problem everyone has, and nobody talks about: the sheer hassle of managing your money! Weston offers practical guidance and easy checklists for every decision: investments, credit cards, insurance, mortgages, retirement, college savings, and more! Discover how to consolidate, delegate, and automate your finances…save time and money…and live a more rewarding, secure life!