The Help Desk

How should I invest my $3,000 nest egg?

I have been trying to figure out how to start an investment portfolio. I have retirement savings through my company's 401(k), a Roth IRA and personal savings. I have a small sum (less than $3,000) but I am trying to plan for the long run. Do you have any suggestions on how to start small and grow the investment over time? — Michael C.

Step one is to avoid stashing that MORE

What happens to Social Security disability benefits when you reach retirement age?

I'm 56 and am on Social Security disability. Do my benefits change when I reach my full retirement age of 66 years and 4 months? — Greg M.

Your benefits will change in name only starting with the month you reach full retirement age, according to Kia Green, a senior public affairs specialist with the Social Security Administration. At that point, they will be called retirement benefits rather than disability benefits. MORE

What are the consequences of filing for bankruptcy?

I am contemplating filing for bankruptcy. I have already met with a lawyer who assures me I have nothing to worry about, as it's more common these days. But what are some of the short- and long-term effects of filing for bankruptcy? What are my chances of being hired in finance? Will it affect my ability to rent an apartment or buy a home? How long will it take to MORE

Should I repay my son's college loan all at once?

My son is a junior in college. We have been financing his education by using $5,500 a year in Federal Direct Subsidized loans in his name. I am paying for his college as a gift to him so that he will not be burdened with a loan upon graduation. Would it be best for me to pay off the loan over a period of time so as to help him MORE

Are we responsible for our parents' reverse mortgage?

My parents, now deceased, had a reverse mortgage on their Florida home. The total paid out exceeds the current value by at least $40,000. What are my brothers' and my financial obligations regarding the house? We do not want it and are in the process of allowing the bank to take it through foreclosure. — William M.

The bank's claim against your parents' estate is limited to the house, because reverse MORE