What’s the best place to keep cash I will use to pay off mortgage?
Updated Mar 31, 2021;
Q. We have 14 years and $270,000 left on our 20-year mortgage. I plan on paying off the loan in about five years but rather than send the bank a little more money each month or year, I’d rather keep it working for me until I have an amount that’s equal to the outstanding loan amount. I don’t see the point in letting the bank have access to the money beforehand. Right now I’m keeping these funds in an online bank earning 0.40%. Is there a better place to keep this money and earn some kind of yield without too much risk?
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I get a N.J. pension. Can I also get my ex’s Social Security?
Updated Jan 26, 2021;
Q. I am a 59-year-old male, retired and receiving a New Jersey public pension. I was married for 15 years and divorced 20 years ago. She is now 57. I have very few quarters paid into Social Security from working part-time in grocery stores during high school and college. The career I retired from didn’t take Social Security deductions. When I turn 65, I planned to sign up for Medicare for the New Jersey State Health Benefits Program. I would get reimbursed for the premiums from my former government employer. Can I apply for Social Security benefits and Medicare through my ex-wife? Do I have to wait until she is age eligible or when I turn 62? How does the “windfall penalty” work?
What can my daughter do about these medical bills?
Updated Jan 05, 2021;
Q. My daughter is 20 years old and she has some medical bills in her name from a hospital stay. She’s been out of work. We’ve called the hospital and we’ve filled out forms to have the debt forgiven. One bill was forgiven and another was sent to collections and there are others. What can we do? Mom
A. We hope your daughter is healthy.
Medical bills can add up quickly and it is good to know that you have been able to get some financial relief.