Financial Planning Blog
Mom’s Adult Kids are Bad with Money. How to Help?
Q. I suspect my daughter and son-in-law are not good budgeters. They don't seem to really know how much money they need. He works as a subcontractor and income could be great or poor. I'm entitled to complain since I am their lender of last resort. Is there a service...
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Q. Why do all the places that say we can help you manage your money, but the first thing they want you to do is sell all your investments and buy theirs? How can I choose someone to help who won't put their commissions first? -- Investor A. There are many reasons why...
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How to Help a Parent Who Has Never Managed Money
Q. My father passed away two months ago and I've been trying to help my mother get all her bills and investments together. My father always handled the money and my mother isn't sure where all the accounts are, and she doesn't want to let me go through the papers. I'm...
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I Won My Property Tax Appeal but Lost The Senior Freeze. Now What?
Q. In 2014, I applied for the Senior Freeze and received a payment for my property taxes. In 2016, I had my home reassessed through an attorney because there was a big increase. The court ordered that the Township reduce my property taxes by $980. I was happy, but...
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Will My Credit Freeze Hurt My Credit Report?
Q. I tried to apply for a credit card, but forgot that I put a freeze on my credit reports because my name and Social Security number were compromised by a hack at a major department store. Will this have an adverse effect on my score? -- Credit concerned A. Nope. It...
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Shopping For a Car Can Actually Lower Your Credit Score – Here’s How to Avoid it
Q. I have 26 hard inquiries in my credit report -- ouch! I contacted the credit bureau and 15 of these were for a car loan. I explained to the credit bureau that I only authorized the car dealership to pull my credit. The bureau was unwilling to remove them because I...
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Will 529 College Plan Jeopardize Financial Aid?
Q. My daughter is still in college and is likely to go to grad school. I've been putting money into her 529 plan for many years and making withdrawals for her time in school. My stepson just had his first child, and I'd like to open a 529 for her but I wonder if it...
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How Requests About Your Credit Report Can Hurt Your Score
Q. Are there any way to have hard inquiries removed from my credit report? -- Borrower A. We're glad to see you're paying attention to your credit reports. You want to make sure they're accurate because of the direct effect they have on credit scores, the ability to...
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Filing for Social Security Survivor Benefits
Q. My husband passed away and I was unable to draw on his Social Security benefits because I was under 60 and not disabled. When I turn 60, how much of his Social Security benefits will I be entitled to and how will that affect my future Social Security benefits?—...
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How the Veterans Exemption Works
Q. I was informed by my Army buddies that New Jersey will be reducing my property tax by $3,000 because of my veteran status. Is there any truth to this? As I am already receiving a $250 deduction, will I have to re-apply to receive the larger benefit or will it...
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