Liz Weston

Columnist Money Talk

Recent Articles

  • How to rehabilitate your credit scores after failing to pay a bill
    How to rehabilitate your credit scores after failing to pay a bill

    Dear Liz: After a divorce, I had to start my life over at 62. I got three credit cards. Somehow, I failed to see the online bills for one of them and neglected to pay it. The company didn't contact me until three months had passed. I got a letter saying the small balance ($130) was forgiven and...

  • Calculating your estimated quarterly taxes
    Calculating your estimated quarterly taxes

    Dear Liz: I recently retired and started my own consulting business, which is doing very well. My question is on taxes. I have been told that I must pay quarterly taxes, but I have no idea if I will make $10 this month or $10,000. How do I estimate my income if I have no idea? Can I just wait...

  • Heirs fail to inform lender of mother's death
    Heirs fail to inform lender of mother's death

    Dear Liz: My mother passed away unexpectedly in late 2008. She had a mortgage, and the house was under her name only. She didn't leave a will. My family is still paying the loan, and the company does not know my mother passed away. We don't have a lot of money and we need advice on how to get...

  • Know risks of buying in-laws' home
    Know risks of buying in-laws' home

    Dear Liz: My in-laws just informed us that they have gone through their retirement fund and soon won't be able to pay their mortgage. They borrowed against the house they've lived in for 30 years and currently owe $325,000. They are devastated, so I am trying to figure out the best way for them...

  • Don't rely on expected government pension to pay for retirement
    Don't rely on expected government pension to pay for retirement

    Dear Liz: My husband works for the government and will be receiving a pension when he retires. Am I still supposed to save the recommended amount for retirement from my income or can that amount be reduced since we know we have the pension? We are starting a family and could use any extra money...

  • Take a retirement annuity or a lump sum?
    Take a retirement annuity or a lump sum?

    Dear Liz: I am 54 and considering retiring in three or four years. I have been fortunate to work at a Fortune 100 company for 30-plus years and have both a defined benefit pension plan and a 401(k). When I retire, we have the option of taking a lump sum or an annuity. Most financial people I...

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