Financial Planning Blog
Will my student loans be forgiven? I owe $48,000 with interest.
This post, authored by Claudia Mott, originally appeared on NJMoneyhelp.com Q. I have a student loan. It was $30,000 and now it is $48,000 with interest. I am not able to pay back at all. I tried, but my small income all goes to my mortgage and bills. What to do? Will...
Why do student loans have such high interest rates?
This post, authored by Claudia Mott, originally appeared on NJMoneyhelp.com Q. I don’t understand why the federal government has such a high interest rate on student loans? They keep you in bondage and in debt because of the high interest rates, but if you choose to...
What happens to your 401(k) if you get fired?
This post, authored by Claudia Mott, originally appeared on NJMoneyhelp.com Q. What happens to your 401(k) if you get fired? — Concerned A. We’re sorry to hear that you lost your job, but your 401(k) should not be a problem for you. A company-sponsored 401(k)...
Does 401(k) income count against your Medicare premium?
This post, authored by Claudia Mott, originally appeared on NJMoneyhelp.com Q. Does 401(k) income count against your Medicare premium? — Unsure A. The calculation of Medicare premiums is important to understand. Let’s start with the basics. Medicare insurance is...
Am I eligible for Social Security benefits from my ex who died?
This post, authored by Claudia Mott, originally appeared on NJMoneyhelp.com Q. I was married for 25 years, then we divorced. He didn’t pay any support to me or for our children, who are now adults. My ex-husband died in 2015. My friend said if you were born before...
My mom died. How can I take over her car lease?
This post, authored by Claudia Mott, originally appeared on NJMoneyhelp.com Q. My mother passed away with no will. I want to take over her leased car payments. Is it possible in New Jersey to take over a person’s car lease and transfer the registration without having...
How do we know if we qualify for disability or unemployment?
This was originally authored by Claudia Mott on NJMoneyhelp.com Q. My family is going through rough times right now. My father was on unemployment and was the breadwinner for his family but due to a heart attack, he has been in the hospital for about two weeks and...
Should I invest in cryptocurrency? What about Bitcoin, Dogecoin, Ethereum?
This article was originally written by Claudia Mott and published on NJ.com Talk about volatile. Cryptocurrency is all the rage among some investors, whose portfolios gyrate wildly on a daily basis. The value of this investment type, which is a form of digital...
How do I have to take money from this inherited IRA?
Q. My father died in 2006. I turned 72 in 2018. The new law says you must take out all the money from an inherited IRA within 10 years of the death. So where does that leave me? — Beneficiary A. We’re sorry to hear about your father. You are correct that new laws were...
Do I need to file a tax return for the Senior Freeze?
Q. I didn’t qualify for Senior Freeze in the 2018 to 2019 years because my taxes didn’t go up, but they skyrocketed in 2020. I meet all the requirements for the Freeze except I didn’t file state or federal tax returns in 2019 because I didn’t make the minimum required...