Ask Money

I thought I heard on your show that there was a website that will give you your credit score for free. I'm sorry but I forgot what the website was. Could you please tell me again? Thank you. Nancy, Tamarack, MN

I'm a 58-year-old widow and I have been paying on a 30-year mortgage for 28 years, so I am almost there. I think I owe about $8,000. I am contracted to a job that doesn't offer a pension, but I do have investments (which I think of as retirement money). All three of my daughters moved to Seattle and I want to move there this summer. Right now, I have a little cape cod, which hopefully I can sell for $200,000+. However, my daughters live in the Ballard neighborhood, where a house even a little smaller than mine would cost nearly $400,000. They have condos. I wouldn't mind a townhouse if I get a patch of land to garden. I will be getting a job when I move, but should I just rent at this point? Should I leave the investment money alone? Laura, Ann Arbor, MI

I have the opportunity to refinance from 5-1/4 percent to 4-1/4 percent. The savings will be $249 a month, which we really need because we probably will need a new car next year. The payback for the closing costs (rolled into the refi) would take 2 years. However, there is a small chance we could be moving due to my job before 2 years. Should I take the lower rate to get the monthly savings or find the money for the car elsewhere? My wife's and my credit scores are high -- about 800. (Yes, Tess, I checked FICO per your constant reminding on the show.) Eric, Ringwood, NJ

Tess Vigeland and economics editor Chris Farrell discuss the possibility of more transparency on 401(k) fees. Plus, callers ask questions about supporting retired parents and the pros and cons of uprooting a family for a new job.

After close to a decade in graduate school, a post-doc, 24 job interviews, and almost as many rejections, I am elated to have started my first bone-fide adult job. Which in this day and age is not only a blessing, but a miracle, for which I am truly grateful for. While I have mastered the manipulation of matter at the atomic and molecular level, I am pretty clueless about how to manipulate my finances. My question: what should my financial priorities be? repayment of school loans? saving for retirement? putting money into an emergency fund?... Romas, Berkeley, CA

We use a credit card to pay for all monthly expenses and then pay it off at the end of each month. My credit score fluctuates every quarter, depending on when the accounts are checked. My question is how can we convince the credit rating company that we do not carry any credit card debt from one month to the next? My score is currently at 749 but has been as high as 815. Thanks, I really enjoy your program. Randy, Macomb, IL

I live in New York State. Can I have my son as the beneficiary for my IRA and Roth IRA account? If yes, what do I need my husband to sign? Thank you. Wendy, Lockport, NY

I recently bought a house for the first time. I am in my early 50s and have a son in high school. I don't have life insurance. I have been receiving lots of advertisements in the mail telling me I should have life insurance or mortgage insurance. Should I buy term life insurance to protect my son? It is very hard for me to save money, and I'd rather save what I can for future college bills and my retirement. Thank you, Erika, Salisbury, CT

I have recently started purging old files of financial information (statements, bills, receipts, etc.). I have heard that I should keep credit card statements for 7 years, but I was wondering: If the accounts are closed and there are no discrepancies on the credit reports, do I really need to hang on to these statements? Thanks for your insight. Alicia, Indianapolis, IN

Tess Vigeland and Kathy Kristof of Kiplinger's Personal Finance magazine and CBS MoneyWatch answer listeners' personal finance questions.