We cover the basics and more about personal finance, answering frequently asked questions about credit and debt, identity theft, saving for college, retirement, estate planning, insurance, taxes, job hunting, and raising money-savvy kids. Check out the articles, columns, blog posts, radio shows and videos for tons of personal finance advice.
How Can You Help Better Protect Yourself Against Identity Theft
How can you help better protect yourself against identity theft? The Coronavirus/COVID-19 pandemic has presented new opportunities for identity thieves and other bad actors to use the stress of the current environment to their advantage. With no concern for your financial well-being, thieves can use stolen information to run up balances on credit cards or [...]
COVID-19 Scams: What to Look for in a COVID-19 Scam
COVID-19 scams: what to look for. How scammers are targeting Americans during the COVID-19 pandemic and what to do if you’re a victim of a COVID-19 scam. Update: The types of COVID-19 scams were updated to include a new national unemployment mailing scam on July 30th, 2020. Scammers have been working overtime this year, preying [...]
How Do You Change A Deed from Tenants in Common to Joint Tenants?
How do you change a deed from tenants in common to joint tenants? This homeowner also wants to know if it will trigger any adverse tax consequences. Q: My wife and I purchased a home over 40 years ago. The original deed is titled as John Smith and Sally Smith. This defaults to tenants in [...]
COVID-19 Pandemic Update: Property Tax Payment Extensions and Penalty Waivers
COVID-19 pandemic update: property tax payment extensions and penalty waivers. There are now 16 states offering some form of COVID-19 property tax relief. Relief programs for financial obligations continue to become available as more Americans have their incomes disrupted due to the coronavirus pandemic and the resulting economic slowdown. The average American household spends $2,375 [...]
Second Home vs Investment Property: IRS Tax Rules
Second home vs investment property: IRS tax rules. If a property was used as both over time, what are the tax implications when the property is sold? Q: I read your article on avoiding capital gains tax on second homes in our Sunday paper. I have a question that is along those same lines, except [...]
Revocable vs Irrevocable Trust: Which is Better
Revocable vs irrevocable trust: which is better. The difference between revocable and irrevocable trusts and the purpose each serves in estate planning. Q: I am divorced and have two grown daughters. I am placing my house in a trust. My attorney is recommending an irrevocable trust. Which do you prefer, revocable or irrevocable and why? [...]
Is Summer Canceled Because of the COVID-19 Pandemic?
Is summer canceled because of the COVID-19 pandemic? Not exactly, but some summer events and activities can’t happen while social distancing is in effect. This summer, things are going to be a bit different. The coronavirus pandemic and the social distancing efforts to limit its spread mean that summertime events that draw big crowds are [...]
How Will COVID-19 Impact Retirement Planning?
How Will COVID-19 impact retirement planning? New research finds older Americans might have to delay retirement due to the coronavirus pandemic. The financial fallout from the coronavirus pandemic is already devastating to millions of consumers. More than 40 percent of Americans say their level of financial security has deteriorated since the COVID-19 pandemic began. Around [...]
How Will the Coronavirus Pandemic Impact the Spring Market?
How will the coronavirus pandemic impact the spring market? Unemployment claims, mortgage rates and home buying activity in the spring of 2020. It’s been another week of dreadful news about the economic repercussions of the COVID pandemic. And, while there have been slight improvements here or there, it’s all pretty dark. How Will the Coronavirus [...]
Coronavirus 2020: Stay Home Orders Extended For Some States
Coronavirus 2020: Stay home orders extended for some states. What to know about the extensions and our advice on how to stay positive throughout the COVID-19 pandemic. As of April 30, 2020, stay home orders were extended into May in several large states, including Illinois, California, Hawaii, New Jersey, Nevada and Michigan. But other states [...]