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Mom is Lost Financially after Dad Died

Mom is Lost Financially after Dad Died

Q. After my father died, my mother was lost financially. It’s been almost a year. She had means, but she had no idea where the money was or how to manage it. She doesn’t want to learn, but I would…

Creative Financing for a Shore House?

Creative Financing for a Shore House?

Q. My sister had a family vacation at the beach and she now wants us to go partners on a shore house. I don’t think I can afford it but I love the idea. Are there creative ways to finance…

Co-signing Mortgage for Divorcing Daughter

Co-signing Mortgage for Divorcing Daughter

Q. My daughter is in the process of a divorce. For the sake of her three school-aged children, she would like to remain in her house, but the soon-to-be ex wants his name off the mortgage. She has asked my…

Dangers of Taking a 401(k) Loan

Dangers of Taking a 401(k) Loan

Q. I took a loan against my 401(k) last year. What happens if I leave my job before it is paid back in full? — Borrower  A. Loans from your 401(k) may have seemed like a smart idea, but if…

Financial Independence for College Kid

Financial Independence for College Kid

  Q. My daughter will start college next year. What the easiest way to manage her cash? Should we have a shared bank account, or is there a better way? My credit isn’t very good and I don’t want to…

Choosing a traditional or Roth IRA

Choosing a traditional or Roth IRA

Q. I have a 401(k) and I got a raise, so I want to start an IRA. How do I choose between a Roth and a traditional one? I’m 46 years old. — Higher-paid guy  A. Congratulations on the raise…

Can I Reinvest my RMD?

Can I Reinvest my RMD?

Q. Do you have to receive wage income in order to contribute to a traditional or Roth IRA? I’m over 70 1/2 and want to reinvest the Required Minimum Distribution money I have to withdraw annually from my IRAs. —…

Buying or Leasing a Car and Your Credit Score

Buying or Leasing a Car and Your Credit Score

Q. Does buying or leasing a car have equal effect on your credit report? I need a new car but I’m also casually house shopping. Thinking the need for a car will increase well before I purchase a home I…

Do I Have to Pay Back a Reverse Mortgage?

Do I Have to Pay Back a Reverse Mortgage?

Q. I had to file Chapter 13 bankruptcy in 2010, and it was discharged in July 2015. I want to sell my home this year and I have a reverse mortgage that I took in 2006. If I have to…

Savings Options for College

Savings Options for College

Q. My twins just had a bat mitzvah and each received approximately $17,000. I want to invest this money for them so it won’t impact their application for financial aid when the time comes. What are the best options? —…