Which debt to pay first when improving personal finances. Which debts to pay down first to improve your credit score and start building your savings. Q: I am "getting back on my feet" financially and would like to know how I should continue to improve my personal finances. Is it better to prepay my mortgage, [...]
What happens when you sell a property in a trust? This reader wants to know about the $250,000 gain exclusion and other tax implications. Q: My wife passed away this past year and our home is titled in her trust with me as trustee and my children as beneficiaries upon my passing. Is my cost [...]
Paying property taxes on an abandoned home. This renter can’t locate the owner and wants to know if they can pay back taxes before it goes to auction. Q: I rented a house from a person who turned out not to be the owner of the home. I contacted the authorities and the scammer disappeared. [...]
Valentine’s Day 2020: Americans expected to set spending record. Their lists grow longer every year, but the holiday is supposed to be about love, not money. Valentine’s Day 2020: Americans Expected to Set Spending Record Valentine’s Day spending is expected to total $27.4 billion this year, up 32 percent from last year’s record $20.7 billion, [...]
How to avoid paying capital gains tax on inherited property. Minimize the potential tax consequences of transferring property from parent to child. Q: I have a question about a recent answer you gave to a reader. The question relates to a daughter that acquired her share of the home from her mom while her mom [...]
3 tips for financial success in 2020. Make improving your financial wellness and preparing for an economic downturn a top priority this year, here's why. How Are Your Personal Finances Doing? How Much Have They Changed Over the Past 10 Years? Overall, average income hasn’t increased much over the past ten years, while home values [...]
How to leave property to a child. This reader wants her daughter to inherit her home, but doesn’t want her to have to go through probate. Q: I am a 77-year old widowed woman. I have a house with a mortgage that I purchased a little over a year ago. At the closing, I asked [...]
Five common holiday scams to avoid in 2019. Don’t be fooled by these popular holiday scams threatening to steal your information and then your identity. Anyone can be a victim of a scam. Just ask the 35,000 people who lost $10 million to an ongoing phone scam where scammers pretend to be from the Social [...]
3 holiday spending stress relief tips for gift giving in 2019. It is possible to show appreciation for your loved ones without overspending this holiday season. My favorite part about the holidays is gathering with the people I love most to celebrate the end of another year. Exchanging gifts and visiting with family is a [...]
Top 10 best places to retire in the U.S. in 2020. Housing affordability, desirability, health care and overall happiness were factored into rankings to find the best places for retirees to spend their retirement. Top 10 Best Places to Retire in the U.S. in 2020 Retirement is a milestone that can bring, freedom, purpose, enjoyment [...]
