Q. My husband and I are both 50 and we both work. We have two kids who will start college in the next few years. We each have $100,000 of life insurance through our jobs, and we both have $500,000 term insurance that will expire in four years, basically while

Q. It is my understanding that my ex may be eligible to receive Social Security benefits based on my record. Will that reduce the amount of my monthly benefit? We were married 21 years. She is 64 1/2 and I am 63 1/2. — Divorced A. You don’t have to

Q. I received Supplemental Security Income (SSI). I hit a slot machine for $1,203 in Atlantic City and was told to spend down the winnings so my benefits don’t change. What am I legally allowed to spend the winnings on? Would food shopping count as spending it down? Thank you.

Q. I’m looking at options for a tax-free, compound interest option for future needed money. I’m 64, retired, married to an 86-year-old handicapped man. The stock market isn’t dependable and my husband’s pension ceases at his death and I receive nothing because we were not married when he retired. Is

Q. I’m trying to understand the rules on IRA to Roth conversions. I was under the impression the five-year rule on conversions doesn’t come into play once you are 59 1/2 and if the Roth account had been open for at least five years. Or do you still have to

Q. My husband passed away a year ago and I’m receiving survivor benefits from Social Security to care for our 2-year-old boy. Can I use that money to set up a minor Roth IRA and 529 plan? He already has a brokerage account funded every month by my own money”.

Q. When there is a reverse mortgage, what happens if the value of the home goes up? Does the owner get the difference between the mortgage amount and the higher home value, or does the mortgage company get it? — Homeowner A. Let’s go over how reverse mortgages work. A

Q. My wife and I are in our late 70s and are living comfortably on our Social Security and Required Minimum Distributions. Most of our investments are in standard IRA accounts. I have been giving serious consideration to moving IRA assets into Roth IRA’s. I know that I will have

Q. I took a Required Minimum Distribution (RMD) last year. I understand that this was not required. I assume that if I do not return this to my IRA account that I will need to report it on my 2020 tax return? — Retired A. You are correct. The CARES

By Karin Price Mueller | NJMoneyHelp.com for NJ.com Q. I have a question about using “stop orders” for my stocks and ETFs. I always had them set at 10% and when COVID hit, almost everything sold. It’s okay and I was able to buy them back at lower prices, but I got hit with

Q. I put my son on my credit card to help his credit but I didn’t give him a card to use. Does his bad credit affect my credit score because he’s on that account? It seems like my score keeps going down for no reason. — Cardholder A. This is a

Q. My wife and I are 70 and 73, retired and financially stable. Our oldest child went through a binge of bad behavior between 2010 and 2015 that included a divorce (no children), a repossessed car, defaulted credit cards, SSI for a short time, then SS Disability. She is remarried