The Help Desk

How much money will I need for long-term care?

How much do my spouse and I need to self-insure for long-term care? Is $400,000 enough? — Mont Roberts, East Lansing, Mich.

You need total retirement savings of $1 million to $2 million per person to cover most long-term care needs, say financial planners and long-term care experts. Thirty-seven percent of adults age 65 will need to be in a nursing home or assisted-living facility in their lifetime; the average total stay MORE

Will the IRS start taxing my Roth IRA withdrawals?

What's the risk that the IRS will start taxing Roth IRA withdrawals? — Kipp E., Alexandria, Va.

It's low. There's no discussion in Washington of taxing them. And even if Congress did tinker with Roth IRAs someday — perhaps taxing withdrawals or eliminating Roths altogether — such changes probably wouldn't affect money already invested, say tax experts. "There would certainly be an uproar," says Tax Policy Center co-director Eric Toder.

If you're still MORE

Do we need a revocable trust?

My husband and I have been told we need a revocable trust. Why not just a will? — Vicki, Las Vegas

There are several reasons you might want one. You can use a revocable trust (also called a living trust) to set conditions on how your assets are used. Putting assets in a trust speeds up a will's settlement: "It would save a lot of money," says Reno attorney Bradley Anderson. MORE

Where can I sell a diamond ring?

Where can I sell my mother's two-carat Harry Winston ring? — Gerry K.

Unlike most other high-end engagement rings, Harry Winston pieces tend to be one-of-a-kind. Your first bet should be to contact the Harry Winston company, says Michael Toback, a diamond expert at Myron Toback Jewelers in New York City's diamond district. "They stand by a lot of the items they sell," he says. "Go and see what they might MORE

How do you find a legitimate credit counselor?

I am about $10,000 in debt on my credit card. Who can I trust to help me get out of debt? How can I avoid giving my information to a scam artist or someone who isn't going to get me the best deal possible? — Katie

If all of your debt is on a single credit card, contact your credit card company, suggests Leslie Linfield, executive director of the Portland, Maine-based MORE