Paying for schooling with savings bonds

By: By Lisa Gerstner
Posted on: August 08, 2019

Q: Can I use my series EE or I bonds to pay for a grandchild’s college — and save on taxes? A: Yes, you can redeem savings bonds to help cover the cost of college — and in some cases the interest the bonds earn won’t be subject to federal income tax. But as a grandparent, you’ll likely have to jump through some hoops and meet income limits to avoid the tax. Under the... READ MORE

Costs add up with subscription services

By: Sarah Skidmore Sell
Posted on: August 07, 2019

Sure, it’s nice to have your groceries delivered now and then. Ditto dinner. Want to stream your favorite movies? Why not? Curated clothes and books sent to your home? Yes, please. Subscription services are attractive because they’re easy to sign up for and come with a minimal monthly financial commitment. But the small costs can add up, and prices can increase over... READ MORE

More work past age 65 in D.C. metro area

By: Andrew Soergel
Posted on: August 06, 2019

Workers in major metropolitan areas, especially in the Northeast and around Washington, D.C., are more likely to continue working past age 65 than are those in other areas of the country, according to an analysis of Census data by the Associated Press-NORC Center for Public Affairs Research. “Those are the areas where all of the jobs are, really,” said Anqi Chen, assistant director... READ MORE

Taking Social Security too early is costly

By: Sarah Skidmore Sell
Posted on: July 31, 2019

It’s tough to decide when to start taking Social Security benefits, and it appears many people are shorting themselves with their choice. A new study finds that only 4% of retirees start claiming their Social Security benefits at the most financially optimal time. Current retirees collectively will lose $3.4 trillion in potential income to fund their retirement because they started... READ MORE

Don’t let your kids wreck retirement plans

By: Eleanor Laise
Posted on: July 30, 2019

Are your kids putting your retirement at risk? Parents of adult children give their kids about $500 billion annually — double the amount they contribute to their own retirement accounts, according to recent research by Merrill Lynch and Age Wave. And roughly half of parents in a recent Bankrate survey said that paying their adult children’s bills was jeopardizing their own... READ MORE

With interest rates down, time for a refi?

By: Sarah Skidmore Sell
Posted on: July 16, 2019

Interest rates for mortgages are low — really low. As of the first week of June, long-term mortgage rates were down for the sixth consecutive week. The 30-year fixed rate average was below 4%, its lowest point since September 2017. If you’re a homeowner, you may be wondering if now’s the time to refinance. Here’s what to consider: Reason It’s important to know why you want ... READ MORE