64-year-old with $1.2 million 401(k) asks if retirement is affordable

A 64-year-old individual with $1.2 million in a 401(k) and two mortgages is seeking advice on whether they can retire comfortably. The person's situation involves balancing retirement savings against ongoing housing debts. Financial experts emphasize the need for careful planning in such scenarios.

Wife seeks advice on husband's impulsive spending

A woman has written to a financial advice column expressing frustration over her husband's carefree attitude toward large purchases, such as a $40,000 new car, while she prefers frugality. The couple struggles to discuss finances, as he responds with the silent treatment. Experts suggest ways to bridge their differing money views.

IRS taxes forgiven truck loan as income

29 сентября 2025 Сообщено ИИ

A man's brother-in-law had a $19,000 truck loan written off after job loss, but the IRS treated the forgiven amount as taxable income, resulting in a $3,300 tax bill. The family views this as unfair, prompting questions about debt forgiveness rules. Financial experts explain the IRS policy and potential exceptions.

55-year-old faces tax issues with unfiled returns and crypto holdings

29 сентября 2025 Сообщено ИИ

A 55-year-old individual who hasn't filed taxes in 20 years is concerned about potential liabilities, especially with $1 million in cryptocurrency assets and an impending layoff. The situation highlights risks of long-term tax non-compliance in the U.S. Financial experts advise immediate action to mitigate penalties.