Financial Planning Blog
My company gave me a buyout. Can I get unemployment?
Q. I was let go from my company after 25 years. They gave me a buyout and I receive a payment every two weeks for 10 months. Can I still get unemployment? — Out of work A. We’re sorry to hear about your job loss after being with your company for such a long time. But...
Do we need to pay a penalty for Medicare Part B?
Q. My husband and I are both retired. He is covered under my private health insurance plan and veterans medical benefits. He wants to enroll in Medicare Part B — he already has Part A. We had previously been told if my husband was covered under my private plan, he did...
I’m retiring. Should I move my 401(k) to an IRA?
Q. I left my retirement funds in the 401(k) of my previous employer. It’s invested very conservatively, so I haven’t lost much since 2008 but I haven’t gained much either. Is there any advantage - or any reason - to move the money to an IRA? For all intents and...
I’m a new widow. How can I refinance my mortgage?
Q. I am a new widow after being married 30 years. I am blessed to have a roof over my head and all my daily needs met. But I would like to refinance my mortgage because I am no longer eligible for my husband’s health insurance so I need to pay $2,300 a month for me...
I co-signed a student loan that’s in collections. Should I pay it off?
Q. I’m a co-signor on a student loan that is now in collections. The debt collector made an offer of a payoff amount to satisfy the loan. Will there be an amount of debt forgiveness involved and what would it mean for my taxes? — Unsure A. It can get complicated, and...
Can I collect Social Security and work a full-time job?
Q. If I keep working past my retirement age of 66, can I collect Social Security and a full-time pay check at the same time? — Getting closer A. Absolutely. You are able to collect Social Security while you are still working. But there are reasons to consider holding...
4 questions to ask before you talk to your friends and family about money
The economic fallout from the coronavirus crisis had tested our financial strength. More than 1.44 million New Jerseyans have filed for unemployment since mid-March, and many are still waiting to receive unemployment benefits. As Congress debates the future...
If you still have your job, here are money moves to make right now
About 1.1 million people in New Jersey have filed for unemployment benefits since the start of the coronavirus pandemic. But for those who are lucky enough to still have their jobs, there are lots of questions about what they should be doing with their money. That’s...
Can I collect unemployment and a pension at the same time?
Q. If a person is a retired state employee, firefighter, police officer and they collect their pension monthly but also worked a job, but is not working now because of the coronavirus shutdown, can that individual collect unemployment benefits? — Staying at home...
Should I take my Social Security or my spousal benefit?
Q. I am 69 and my wife is 59. She works for the government and plans to take her pension early at age 60. When she is 62, can she start to get Social Security based on my account? — Planning A. Let’s start by reviewing details of how a spousal Social Security benefit...