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Two Medigap Plans to Be Phased Out

[Question]I understand that medigap Plan F is going away in 2020. I've had Plan F for years. Does that mean I have to pick a new plan?[Answer]No, you don't need to switch plans. Medicare supplement (medigap)...

Legal Documents for College Students

[Question]My 18-year-old son is starting college next month and will be living away from home for the first time. Does he need any special legal documents?[Answer]Now that your son is 18, you lose many of the...

Tapping a Roth IRA for a House

[Question] I am 28 and want to buy my first home. I've had a Roth IRA for four years. Can I withdraw money from the Roth for a down payment without penalty or taxes? [Answer]You can withdraw contributions from a...

Insurance on Savings and Investments

[Question] What's the difference between FDIC and SIPC insurance? [Answer] The Federal Deposit Insurance Corp. (www.fdic.gov) protects deposit accounts from bank failures, covering up to $250,000 in individual...

How to Buy Stocks for Kids

[Question] I used the ShareBuilder program through Capital One, which automatically deducted money from my bank account, to buy Disney stock for my niece. The program was discontinued. Is there a similar program?...

How to Use a 529 Plan When Your Child Wins a...

[Question]My daughter received a full volleyball scholarship to college, so we're wondering what to do with her 529 college-savings plan. Can we withdraw the amount of the scholarship without penalty? [Answer]...

How to Turn a Teen's Summer Wages into Millions

[Question]My 15-year-old son is doing landscaping this summer for neighbors, and it looks like he'll earn about $1,500. Is there a minimum age to contribute to a Roth IRA, and must he have a W-2? If my son can...

Signing Up for Medicare When You're Still...

[Question] I want to sign up for Medicare Part A when I turn 65 on October 11, but I plan to delay enrolling in Part B because I work at a large company with great health insurance. How do I sign up for Part A,...

Saving for Retirement When You Have a Side Hustle

[Question]I have a regular full-time job, but I also earn a few thousand dollars in freelance income every summer by writing travel articles. Can I make tax-deductible contributions to a solo 401(k) or a SEP?...

A Tax-Friendly Way to Get Income for Life

[Question]I heard that you can use $130,000 in an IRA to buy a deferred-income annuity without having to pay taxes on the money. Have you come across this before?[Answer]That sounds like a Qualified Longevity...

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Stories & Features

Investing

20 Dividend Stocks to Fund 20 Years of Retirement

The conventional approach to funding retirement is to withdraw 4% of your savings in the first year,...

Spending Wisely

Before You Buy That Jet: Considerations on Big...

Larger "lifestyle" purchases, be it a vacation property, a private plane or a thoroughbred horse,...