Every new year offers some surprises, and 2007 is no exception. Here's a look at some of the changes--big and small--that may affect your finances this year. More Details

Reverse mortgages are growing in popularity, but one issue confronting the children of elderly parents who have taken them out is what to do with the home (and the mortgage) once their parents pass away. More Details

You can make an IRA contribution for 2006 at any time up until the due date for filing your federal income tax return for the year. For most people, this will be April 16, 2007. This deadline isn't affected by any extension you may receive to file your return. So, if you obtain an automatic six-month extension, you'll have additional time to file your tax return, but you won't have any additional time to make an IRA contribution. More Details

So you converted your traditional IRA to a Roth IRA in 2006, and now you've determined that the conversion no longer makes good tax sense, or that you were ineligible to make the conversion in the first place. What do you do? You may be able to reverse ("recharacterize") your conversion. When you recharacterize a Roth conversion, it's as though the conversion never occurred, and the funds are treated as having never left your traditional IRA. More Details