Dear Moneyist, My sisters and I disagree on most things, but never could I have imagined how our relationship would end. My parents put me down as the trustee and power of attorney for both their health care and finances in 1985, again in 2002 when they created a trust, …
Read More »The Moneyist: I’m 28, have zero debt, a 401(k), Roth IRA and $45K in the bank. My parents want me to save for a home. I want a Tesla Model 3. Who’s right?
Dear Quentin, I’ve been flip-flopping back and forth between buying a new car or putting a down payment on my first home. With my parents being very money-minded and keeping a careful eye on my finances (still), I’m caught in a predicament. The original plan was to save up 20% …
Read More »The Moneyist: My wife has homeschooled our son and our best friends’ son since September due to COVID-19. Is it too late to bring up money?
Dear Quentin, My wife and I have a 7-year-old son who would normally be attending the public-school system this year. However, for a variety of reasons mostly driven by the pandemic, we decided we would homeschool our son for first grade this year. My wife is currently a stay-at-home mom …
Read More »The Moneyist: ‘My husband has burned through all of our finances. If we divorce, I don’t want him to get one penny.’ How can I protect myself?
Dear Quentin, I live in New Jersey, which is a community property state. My husband and I have had a very rocky relationship and are contemplating divorce for the second time. My parents are both elderly but are in good health, thankfully. It has been suggested that when they die, …
Read More »The Moneyist: I got into debt helping my mother financially. I even bought her a home and car. Don’t I have a right to put my husband first?
Dear Moneyist, I was raised by a single mother who sacrificed and worked very hard to give me and my siblings everything we needed growing up. Throughout my life I have tried to take care of my mom as best as I can, I give her money twice a month. …
Read More »The Moneyist: Our housekeeper does not work when we’re at home due to COVID-19. We still pay her. Could we treat those payments as a ‘gift’ to reduce her income tax?
Dear Moneyist, Due to the 2020 global pandemic my wife and I have been concerned about indoor exposure to others. We are fortunate enough that we can work from home so we are always here, and no one else is allowed in our home. Because of this, we have tried …
Read More »The Moneyist: ‘I am held hostage in my own home’: My husband’s son lives with us. He is physically abusive and menacing
Dear Moneyist, I am married, but my home is in my name only. When I bought it in 2010, I was the only one eligible to apply for a mortgage because my husband was working a temporary job, having been laid off in the recession. My previous home, which I …
Read More »The Moneyist: My ex-boyfriend and I contributed to our household based on our salaries. I’m now owed $23K in back pay. Do I pay him back?
Dear Moneyist, Recently, I was notified by my employer of 5 years that my initial salary placement was incorrect, and I am due a fairly large amount of retroactive pay. After taxes it comes to about $ 23,000. About a year ago, I ended a long-term relationship wherein my former …
Read More »The Moneyist: My husband, 79, promised to leave his grandson his home. After 22 years of marriage is that fair to me?
Dear Moneyist, I am a married woman age 69 and my husband is 79. I am his second wife and we have been married for 22 years. He is not in the best of health and requires my care. He suffers with debilitating arthritic pain and is not able to …
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