Money Talk: Pay in Full on Time for Best Results
Question: I have little to no information — good or bad — in my credit reports. I am considering obtaining a secured loan from my credit union to establish better credit. Does it make any difference to my credit score if the credit union reports the loan as “secured”? Answer: Credit scores don’t treat installment loans differently based on whether they’re unsecured, with just your promise to repay, or secured, which means backed by an...
Auto Review: Leading the Pack of Midsize Pickups
Mean-spirited midsize pickups shook me into a denim and tie-dyed froth in the ’70s . I looked like some sort of wobbly hippie-dippy milkshake when I poured myself out of those trucks — and that was after just a 10-minute trip to the grocery store. My first puny pickup — a tinny, mustard-colored ’77 Datsun that I bought after extended exposure to the Grateful Dead and Elvis Costello — bounced and vibrated so badly that I could not see...
Social Security Q&A: Is There a Time Limit on Receiving Disability Benefits?
Question: Is there a time limit on how long I can receive Social Security disability benefits? Answer: Your disability benefits will continue as long as your medical condition has not improved and you cannot work. Social Security will periodically review your case to determine whether you continue to be eligible. If you are still receiving disability benefits when you reach your full retirement age, your disability benefits will...
Money Talk: More Questions and Answers About the End of ‘File and Suspend’
Dear Readers: The changes Congress made to the “claim now, claim more later” Social Security strategy generated so many questions from readers that I’m devoting a second column to answering some of those queries. Next week, we’ll get back to the usual mix of personal finance topics. Question: I am divorced after being married for 27 years and have not remarried. I was planning to file for early retirement benefits at 62 (I’m 58 now)...
Rules for Social Security Benefits
Question: We have two children in college, both entering their junior years. We have two more in high school. The two currently in college need additional financial assistance, as they’ve tapped out their federal student loans. We are middle class, grossing about $125,000 a year, so we don’t qualify for much financial aid. We’re considering a cash-out refinancing of our home, but we feel as though we can do it only once, since each...
