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Senior Editor, Money Team

Eileen Ambrose

Biography:

Eileen Ambrose is a senior editor and writer for the Money Team. She previously was a personal finance columnist with the Baltimore Sun.

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Eileen Ambrose'sPosts

Learn How Creditors Can Snatch Your (Inherited) IRA

Posted on 06/13/2014 by |Senior Editor, Money Team | Comments

Bulletin Today | Money & SavingsA U.S. Supreme Court ruling has just made estate planning a lot more cumbersome for some high-net-worth parents who want to leave tax-free money in a Roth IRA to a child. Retirement accounts are protected from creditors in bankruptcy cases so people don’t wind up destitute in old age. However, the court unanimously ruled on Thursday that this is not the case for those who inherit IRAs. The court decision involves a case of a woman who inherited about $450,000 in an IRA from her mother …

How to Get Quality Health Care at a Decent Cost

Posted on 06/12/2014 by |Senior Editor, Money Team | Comments

Bulletin Today | Money & SavingsInformation is power, and in the hands of consumers it will transform the quality and price of health care. That’s the prediction that health care experts made today at a panel discussion sponsored by AARP and the Business Roundtable in Washington. Consumers have a long way to go before they get easy-to-understand information about the costs of doctors and hospitals and the quality of care they provide. So far, information has been hard to come by, and interested parties have resisted …

Retiring Early? Pony Up $51,000 Extra for Health Care

Posted on 06/12/2014 by |Senior Editor, Money Team | Comments

Bulletin Today | Money & Savings | WorkAre you and your spouse thinking about retiring early? Doing so can cost you, as a couple, an extra $17,000 a year in medical costs, according to a Fidelity Investments analysis. The Boston-based investment company compared the projected average health care costs of couples retiring this year at age 65 with those of couples retiring as early as age 62 and as late as 67. It assumed they would have Medicare coverage at 65, although the analysis doesn’t include costs for nursing home and …

Don’t Become a Credit ‘Mule’

Posted on 06/11/2014 by |Senior Editor, Money Team | Comments

Bulletin Today | Money & SavingsCash-desperate consumers are being lured into becoming unwitting “credit mules” via a cellphone scam, the Federal Trade Commission warns. Con artists pay targets a couple hundred dollars to sign up for wireless contracts for iPhones and other mobile devices, the FTC says. The consumers then turn over the smartphones to the scammers, who “unlock” the phones so they can be used by others. The phones then are often sold overseas, where they can fetch from $500 to $1,000 apiece, says Nat …

Free Resources For Managing Your 401(k)

Posted on 06/10/2014 by |Senior Editor, Money Team | Comments

Bulletin Today | Money & SavingsNeed help with retirement? The do-it-yourself investor can find plenty of online resources to help with retirement and other types of financial planning. Fidelity Investments in Boston offers a variety of tools, including some to help you devise a plan to pay off debt or decide whether to convert to a Roth IRA. Baltimore-based T. Rowe Price’s Retirement Income Calculator can project how much you will need in retirement vs. how much you will have, while Valley Forge, Pa.-based Vanguard’s Retirement …

President Makes It Easier to Repay Student Loans

Posted on 06/9/2014 by |Senior Editor, Money Team | Comments

Bulletin Today | Money & Savings | Your LifeJust as the Federal Reserve Bank of New York is raising concern about growing student loan debt and defaults, President Barack Obama is moving to expand a repayment program aimed at helping lower-income borrowers. The president today signed an executive order that the administration says will allow nearly 5 million more borrowers to qualify for a program that keeps monthly payments on federal loans to no more than 10 percent of discretionary income. This plan has been available only to more …