Q: What would you suggest that someone do with $20,000 if the someone is closer to 40 than 30, single, with $100,000 of student loan debt and a $250,000 mortgage? My salary is around $100,000 a year. I have an emergency fund equal to six months of expenses and I make an annual IRA contribution since my employer doesn’t offer a 401(k) plan.
Q: Last year I bought an electric vehicle, motivated in part by the $7,500 federal tax credit. I consulted with my tax preparer, a CPA, to ensure I would generate enough income to fully use the one-time, use-it-or-lose-it credit.
Q: My mother died two years ago, and I am trying to figure out how to get any of her things that are family heirlooms. Her husband refuses to part with anything, including her clothing, saying he isn’t ready yet and that only when he is ready will he give us anything.
I am furious at my grandmother, and now believe both accounts were cashed out and given to my cousin. Without knowing anything about the accounts, except that one was intended for me, is there any way to find out what actually happened to the money?
Q: I am a 20-year-old college student with a stable, part-time job. I haven’t contributed to a 401(k) with this company because I don’t plan to be working for it for two years, which is how long I’d have to wait for my contributions and earnings to be 100 percent mine.
Q: You’ve written about the 50/30/20 budget structure that people should strive to achieve. As you said, it’s a difficult feat. But here’s my question: How does one even come close when you live in a major metropolitan area?
Q: I have an 18-year-old daughter who wants to attend a private, out-of-state school. I don’t have any money saved for her education and do not make enough to cover the cost of this college. What are my options? She’s an A student and is planning to go to medical school.
Q: I have an adjustable-rate mortgage that is currently at 3.125 percent. I’d like to fix the rate, but no one will even discuss it with me because my house has been appraised at less than $100,000 and the balance of the mortgage is $144,319. I have never been late, and my credit scores are above 800. What can I do? I don’t want a mortgage modification. I just want a fixed rate.
Q: A large safe containing our passports, Social Security cards, birth certificates, checks and credit cards was stolen from our home several days ago. We notified our bank and credit card companies. Is there an advantage to requesting new Social Security numbers? If we do this, would it affect our credit in any way?
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