removing a person off my mortgage Answered on March 18, 2017

I quick claim my property to someone six years ago to prevent losing it and am now requesting her…

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pay off mortgage or save for retirement? Answered on March 16, 2017

I am a 57 year old small business owner. We built a home 11 years ago and have refinanced from 30 to…

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refinancing student loans Answered on March 16, 2017

My daughter in law has 2 private Chase student loans totaling $67,000 at 8% interest!(Dumb, I know!)…

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Pay off house Answered on March 16, 2017

My husband and I are retired and living comfortably. We owe 87,000.00 on our home. My husband wants…

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CollegeIllinois! Prepaid Tuition Plan: The Risks Answered on March 15, 2017

Hi Terry Your articles on this topic are really insightful -have gone thru all of them. I had a…

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Pay for Wedding with IRA? Answered on March 12, 2017

I’m 62 and have approximately 10,000 in credit card debt from my daughter’s wedding. I have a…

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Out of college student investing Answered on March 11, 2017

Hello Terry, I will graduate from college next year with a BS in Chemistry but I already have a job…

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Credit card pay-down Answered on March 11, 2017

I have $10K to pay off about half of my credit card debt (thanks to my father). Is the smartest…

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Investing at 76 years old. Answered on March 11, 2017

I recall reading your column on starting investing with a small monthly amount, I believe it was…

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Grandparents investing for grandchild for college Answered on March 4, 2017

We are first time grandparents and would like to start putting money aside for our grandchilds…

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dividend added to tax base Answered on March 3, 2017

I have, in the past, added the taxes I have paid to my original cost basis. I have a self directed…

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medicare suppliment Answered on March 1, 2017

Do you really need one and if so can you tell me good ones to choose from and what to stay away…

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Managed accounts costs too high? Answered on March 1, 2017

I have read your response to a reader that said paying 2 percent on a managed account is way too…

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Estate planning help Answered on February 28, 2017

Don’t know if you can answer this. . I am 70 yo. .I have a FHA mortgage of $109000. I would like to…

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Financial help for first time home buyer Answered on February 28, 2017

How can the athomeillinois program be helpful to a first time home buyer having trouble coming up…

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financial adviser, Yes or No Answered on February 28, 2017

I see questions about whether or not to work with a “financial adviser” being asked all the time. My…

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About savings bonds Answered on February 28, 2017

HI Terry, My name is Francisco and I have a question about a savings bond I have that I got from my…

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investing new money in the stock market Answered on February 27, 2017

I have some money that I want to invest in a total stock market fund, should I wait to see if the…

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Mortgage Answered on February 27, 2017

A few months ago I heard you talking about a bank giving free money to home buyers because of…

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elderly father lost all his retirement savings when market crashed. Can he recover any of it? Answered on February 27, 2017

elderly father lost all his retirement savings when market crashed. Can he recover any of it?

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IRAs — safe, secure interest rate? Answered on February 27, 2017

I am self employed and would like to put $ in an IRA for 4 years, for tax purposes. Where can I get…

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What, if any, affect will forbearance have on my credit score. Answered on February 27, 2017

I’m on a Sallie Mae loan w/ my daughter, and she requested, and received forbearance on our loan for…

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retirement overview Answered on February 26, 2017

My wife & I putting 100 each in a roth. I put 500 a month in my work 401. putting away 750 a…

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Investment newsletter you recommended Answered on February 26, 2017

Hi Terry, Last week I was listening to WGN radio on in the afternoon. You were discussing…

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Privacy on your site for question Answered on February 26, 2017

is your website safe enough to disclose my 401k total to ask you specific regarding retirement?

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IL 529 vs. vanguard 529 vs other Answered on February 26, 2017

I have 4 children, ages 10, 7, 7, 7. Both my husband and I are in our late 40’s and we need to set…

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Link to your 2-13 article on Pet Insurance Answered on February 23, 2017

Terry – I am a local canine massage therapist and do marketing work with a local veterinarian (Oak…

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Rollover IRA Answered on February 22, 2017

I had a 401k and rolled it over to IRA when I left that employer. If I want to convert some…

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Choosing a financial advisor Answered on February 22, 2017

We have saved for retirement and are now in our sixties. While we have chosen investments ourselves…

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401k Answered on February 22, 2017

When I retire where should I put my 401k ? I will need to withdraw some money annualy…

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Career planning Answered on February 15, 2017

Any idea where to find free career counseling? My college doesn’t offer any to alumni, unless you…

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Artists, Authors, Creative People in business for themselves Answered on February 15, 2017

Is there a website that you can recommend (other than yours, of course) for artists and other…

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Using existing property as collateral for a second investment property Answered on February 15, 2017

Hi Terry, I currently own an investment property that I rent out. It’s a house in a nice western…

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Stock Inherited — What Now? Answered on February 14, 2017

Hi Terry, My father in law passed away a few weeks ago and my husband is named on all of his…

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CHICAGO TRIBUNE ARTICLE ON STUDENT LOANS Answered on February 13, 2017

I found your article on student loans to be of interest as I am paying on these for my son. I…

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Mortgages –How do I compare? Answered on February 13, 2017

What questions should you ask a potential mortgage lender?

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Where to buy Gold Coins Answered on February 13, 2017

Where or how is the best way to buy actual Gold.

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Someone to manage my bills Answered on February 13, 2017

Is there a name or an agency that you can recommend to handle setting up payment arrangements and…

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529 Plans — November 21, 2016 Chicago Tribune column Answered on February 12, 2017

Hi Ms. Savage. My wife and I want to set up 529 plans for our seven grandchildren, all of whom live…

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Use mortgage refi to pay off credit card debt Answered on February 12, 2017

I want to pay off our credit card debt of $23,000 and wonder if it is better to get a debt…

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Safe investment to earn 7-10% Answered on February 12, 2017

Hi Terry, My husband and I are looking for a safe investment for some extra cash we have…

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Minimizing taxation of SS benefits in retirement Answered on February 11, 2017

I have a question about minimizing taxes on SS benefits in retirement. I’m 60, plan to retire at 65,…

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26f programs — Avoid this Ripoff! Answered on February 11, 2017

I am reading about this and it seems tons of money can be made. What are these 26f programs and who…

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Legacy Planning for my 401 Answered on February 11, 2017

I am retired and not active at work. My company’s 401 is paying a great fixed rate so I don’t want…

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Roth IRA if I have a 40l(k) at work? Answered on January 29, 2017

When does it make sense to use Roth IRA. I already am participating to the maximum to my 401K. Does…

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dollar cost averaging Answered on January 29, 2017

Thank you for answering my first question. I was in an all bond portfolio, and out of the market for…

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debt Answered on January 29, 2017

hi, I am being sued, by a collection agency, I am on disability, they filled the first time in…

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selling life insurance policy Answered on January 28, 2017

I have a $450,000 term life insurance policy. I will turn 75 this year and my premium payments will…

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Cash Settlement from Lawsuit Answered on January 27, 2017

Hi Terry, What is the best way to invest a fairly large cash settlement from a lawsuit? Thank you!!

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Ill. Brightstart 529 Plan as a short-term investment? Answered on January 27, 2017

Terry, I have read your opinions on the IL Bright Start 529 plan in the past couple of years and…

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Gold Stock, Zinc Stock Answered on January 27, 2017

Would this be a good time to invest in gold an zinc stock…

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Debt counseling Answered on January 26, 2017

I have read your comments about the 5 things you should know about debt counseling. Thanks for that.

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Advisor took me Out of the Market 4 months ago! Answered on January 26, 2017

After managing my own money for 25 years I went with a financial advisor. Oct 1st he suggested a…

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Obama care eligibilty Answered on January 26, 2017

Terry, Can you get rejected for Obamacare cause of your income because my son in the process of…

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Trustee’s Deed IL Farmland Answered on January 25, 2017

My husband (who is disabled with younger onset Alzheimers) inherited, by trust, 2 farms with his 3…

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Life insurance at age 24 Answered on January 24, 2017

I am 24 turning 25 in six months, i have life insurance through my employer but only for 30k. I have…

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Trust Brokerage account, Mom has dementia Answered on January 24, 2017

My mother-in-law has a trust brokerage account along with my brother-in-law. He just died and she…

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LIFE INSURANCE — changing beneficiary Answered on January 24, 2017

My husband got life insurance and beneficiaries are me and his 2 adult kids that don’t live here.

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Our Revocable Living Trust Became an Irrevocable Trust at his Death! Answered on January 23, 2017

In 1993, my husband and I had a Family Revocable Trust written up with a revision made in 2004. Then…

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Health Insurance for small business Answered on January 23, 2017

At the end of this year our dental office, 10 employee, and a C Corporation offered a group plan to…

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Reverse Mortgage Answered on January 23, 2017

Have been advised to take out ‘perverse’ mortgage’ to pay for 1/3 of house stuck in trust… have…

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First Steps of Finances Answered on January 22, 2017

Hi Terry. I am a recent graduate with no debt (thankfully). What are the first things I should do to…

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Parents separated 20 years, then one dies Answered on January 22, 2017

Hi terry my mom and father were married but been separated for over 20 years my dad passed away on…

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Debt Collection, Now my Wife is Involved! Answered on January 22, 2017

Hi, Ms. Savage, I have a medical collection that I have been trying to get rid of for quite a while.

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Paying off Credit Cards Answered on January 22, 2017

Hi Terry, Do to illness, I behind on several credit cards and receiving phone calls for payment.

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Paying off everything Answered on January 22, 2017

My husband retired at 60, I’m still working and am 58. He has a pension for life. If he dies I will…

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Investment within Vanguard IRA at age 85 — too conservative? Answered on January 17, 2017

My mother has been conservatively investing in the Treasury Money Market for many years in the…

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Life insurance affecting estate value Answered on January 17, 2017

Terry, in your column in today’s Chicago Tribune you state the “The total value of life insurance…

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Gift Limit Answered on January 17, 2017

I understand I can give an amount each year to nieces and nephews without (inheritance or gift tax)…

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Taxes on a company plan withdrawal? Answered on January 17, 2017

I contributed to a company tax deferred plan. I retired & I am 62 yo. In 2016 I withdrew 12,000…

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IL State Teacher Pension most likely outcome Answered on January 9, 2017

You were one of the very first financial experts to call attention to the underfunding of the IL…

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bonds Answered on January 9, 2017

Retired. Have hi yield bonds in vanguard also inflation protected securities bonds. Should I remain…

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How do I find a financial advisor? Answered on January 5, 2017

How do I find a financial advisor?

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Closed credit cards Answered on January 4, 2017

Due to an illness, I couldn’t pay credit cards, they have closed the accounts. Should I continue now…

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old student loand debt Answered on January 4, 2017

Hi Terry, I have student loan debt and I have been working for 15 years. I am looking for advice on…

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How do you buy penny stocks without a broker? 2nd Request!!! Answered on January 4, 2017

How do you buy penny stocks without a broker? 2nd Request!!!

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Commercial mortgage bridge loans Answered on January 3, 2017

Terry: Would you advise investing in these loans and, if not, why not. Thanks so much in advance and…

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Is joint checking a good idea with a single child Answered on January 3, 2017

My 25 year old daughter purchased a house on her own. I am her mother and on her checking and…

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Paydown mortgage? Answered on January 1, 2017

I am retired – my income is substantially less from not working – living off some non-taxes…

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Timing for returning into the Bond Market Answered on December 28, 2016

Hi Terry: With the downturn in the bond market due to the election and the fed increasing the…

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Home Equity Loan Paydown with Divorce on the Horizon? Answered on December 27, 2016

Owe about $90,000 in Home Equity. The mortgage is paid in full. Have about $120,000 in stocks. Would…

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Crowd-funding — a good idea? Answered on December 27, 2016

What is your opinion about the wisdom for the small investor of investing in crowdfunding or peer to…

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Just heard you on WGN…what was the name of the budget book from Amazon Answered on December 26, 2016

Please give me the name of the budget book you discusses today available on Amazon…

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Financial Advisor on Radio has bad Background Check! Answered on December 26, 2016

Hello, Terry. My husband and I are met a financial advisor who has a radio show on WBBM. I searched…

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IRA to HSA? Answered on December 26, 2016

Seasons Greetings,Terry! I would like to transfer money out of an IRA that’s paying less than 1% to…

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Credit Answered on December 14, 2016

I just rec’d a letter from one my creditor who offer me a chargeoff amount less than half of what I…

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Fidelity Management Fees Answered on December 13, 2016

Upon retiring at 66 yrs, I recently rolled over my 401k into my existing Fidelity IRA. The total is…

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Charity contribution website Answered on December 13, 2016

I seem to remember that you suggested a website where people can choose a charity to contribute to.

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529 Plan Answered on December 13, 2016

Hi Terry, I’m an IL resident who recently became a father and I’m looking to open a 529 plan before…

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Pay off mortgage with 401k withdrawal? Answered on December 12, 2016

60 years old facing impending downsizing…over $600k in IRA/401k jointly. $100k mortgage…would it…

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student loans Answered on December 12, 2016

HELP! My daughter has more than 60,000 in student loan debt. She has consolidated these three loans…

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Social Security sent someone’s important info to ME!! Answered on December 11, 2016

Name on the documentation SS sent to me is for a guy named Kevin and I’m a girl named Carrie. It…

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Health Insurance Plans for Small Biz — Deadline December 15th! Answered on December 11, 2016

MY FRIEND HEARD ON WGN NOON BUSINESS LUNCH 12/07/16 SOMETHING ABOUT INSURANCE FOR SELF EMPLOYED…

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Unsecured Senior Debt Answered on December 11, 2016

Hi Terry, I believe I’ve heard you talk about the DCSD, dept counsel for seniors and disabled, on…

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Disposing of men’s magazines Answered on December 11, 2016

Hi Terry, An awkward but serious question… Like a lot of men, I have a collection of Playboy and…

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Gifting IRA’S for adult children Answered on December 11, 2016

I would like to set up accounts for each of my two children to help them with their retirements…

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debt relief Answered on December 6, 2016

I would like a recommendation of a service to help me get my credit card debt in line. Right now I…

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Euro v. Dollar for my Trip Answered on December 5, 2016

With the dollar strong against the Euro, I was wondering, since we’re taking a European river cruise…

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Fiduciary Ruling by DOL — Broker says GO! Answered on December 5, 2016

Could you please explain the DOL fiduciary ruling which will take place next April? Our financial…

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financial advisor expense Answered on December 5, 2016

Financial adviser cites 1.25% cost of my portfolio yearly minimum expense to manage my finances. At…

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I don’t have a credit score! Answered on December 4, 2016

I am a 46yr. old man with a credit score of 0. How should I start going about earning credit?

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Do i need a Medicare supplement policy? Answered on December 4, 2016

I saw this article and wondered is this good advise to not get supplemental insurance? Thank you.

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Health Plan Deal for Small Business? Answered on December 2, 2016

I read your column The Savage Truth in my local newspaper about a little-known quirk that allows…

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HARP or HAMP — please help! Answered on December 2, 2016

I am confused on HAMP and HARP I would like to refinance my home mortgage, I have not missed any…

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Credit counseling help, please Answered on December 2, 2016

My wife and I have a large amount of debt with high interest rates. We’ve done money management debt…

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When to review/change Revocable Living Trust Answered on December 2, 2016

My husband and I have a revocable trust established in 1997. I have been advised by an attorney that…

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Evaluating a Coin collection Answered on November 24, 2016

As I was going thru my mothers things I found and article written by you from June 1998 regarding…

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Form for Revocable Living Trust Answered on November 24, 2016

Where can I find a Revocable Living Trust Form?

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Credit Card — Can I cancel? Answered on November 24, 2016

Hi Terry, My question is – is it better to have a credit card account closed due to inactivity or…

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Advice on when to take SS Answered on November 24, 2016

Hi Terry I am nearly 66 and considering taking my SS now. I would like some advice on the wisdom of…

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401K at 71 Answered on November 23, 2016

I received a letter from my 401K that I have to use some of the money because of my age. I am still…

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Seeking Comparable Fund to Invest In Answered on November 22, 2016

Good afternoon Terry! My father had turned me onto your show and I have since purchased and am in…

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IRA rollover decision Answered on November 22, 2016

Hi Terry, have been following your dedicated help to many regarding our financial concerns. I have a…

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bond funds losses Answered on November 21, 2016

Hi Terry, I am retired and just have a little bit of money in the market. Mostly bond funds and some…

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long term care insurance Answered on November 21, 2016

Hello. I just got a 96% increase in my and my husband’s CNA long term care policy premium. I live in…

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Vanished Stocks Answered on November 20, 2016

Hello Terri, I saw you on WGN morning news the other day, and am trying to find my stocks from an…

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529 savings plans — who can contribute Answered on November 20, 2016

Hi, Terry, I enjoy your columns in the Sunday Denver Post. This morning’s (11/20), on 529 savings…

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93yr old dad won’t make a will Answered on November 20, 2016

Hi Terry, my dad is 93 in pretty good health, mom passed away 2yrs ago. They owned 4 properties, one…

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election fear Answered on November 20, 2016

I have heard some “experts” say that if Trump is elected, most of the 401k money will be gone due to…

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Credit Answered on November 19, 2016

What is best to do to clean/restore your credit, bankrucpty or credit repair…

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Small business health care Answered on November 19, 2016

My husband and I are both independant contractors and pay for private health insurance. It is…

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Small business insurance Answered on November 19, 2016

I am not having any luck finding the article on small business insurance. Every time I hit read more…

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Small Business health Insurance Answered on November 19, 2016

In regards to the information you provided on Small Business health insurance, I am wondering if we…

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Small Biz Health Insurance Deal Beats Obamacare Answered on November 19, 2016

“The concept is attractive to business owners, because they do not have to contribute to the cost of…

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Aggressive verses Conservative Answered on November 5, 2016

I’m 68 years old with an IRA that I don’t contribute to but is managed by a financial firm with some…

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Learning how to budget Answered on November 5, 2016

I would like to teach my son of 26 years how to budget his money. Is there a good source for…

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Moving IRA into 401k Answered on November 5, 2016

I am employed by USPS and have money in TSP. My husband is retired and has his money in an IRA which…

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Money Market Fund Safety Answered on November 4, 2016

I have begun receiving communication from a third party administrator (TIAA-CREF) concerning changes…

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Short answers to complicated problems Answered on November 3, 2016

Terry, I met you on a T Rowe Price Seminar with Holland American Lines to Alaska, years ago. I am…

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Long term care insurance Answered on November 3, 2016

I am a 57 yr old male in relative good health. With rising health care costs and concerns about my…

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Are there penalties for transferring 401k to another 401k Answered on November 2, 2016

Hi Terry, I was a freelancer for several years and started a 401k plan and at the beginning of this…

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Present value Answered on November 2, 2016

My wife has the opportunity to take a lump sum pension payment now of $64247 or a lifetime annuity…

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2017 purchase of health insurance Answered on November 2, 2016

I heard u talked about a one year plan. My wife and I recently Retired and cobra runs out end or…

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Trusts and estate planners Answered on November 2, 2016

by the time it’s discov ered!What do I look for when looking for a qualified professional?

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401k rollover Answered on November 1, 2016

My wife is offered a lump sump payment from a previous employer from her 401k. i have a small IRA…

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Medicare Part D — “SHIP” Resources Answered on October 31, 2016

Not actually a question, but two comments in relation to your column “How to navigate murky Medicare…

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Student Loan Repayment Answered on October 31, 2016

I have $25,000 in student loan debt thru Navient(formerly Sallie Mae). It’s from the years of…

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Your column on Medicare Drug Plans Saved Us Money! Answered on October 31, 2016

Just a great big thank you for your column. Called eHealthMedicare, talked to Eunice Reid. Great…

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529 College Savings Plans Answered on October 31, 2016

If your adult children have established 529 plans in another state, can Illinois grandparents…

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health insurance — short term Answered on October 31, 2016

You talked about a one-year plan on the WGN Business lunch last Wednesday. Did I hear you correctly?

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SAVING FOR RETIREMENT Answered on October 31, 2016

FOR ALMOST 25YRS I HAVE BEEN LIVING ON A BUDGET IT IS TAKING A TOLL ON MY LIFESTYLE IF I AM SAVING…

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Bonds Answered on October 27, 2016

Do Bonds go up or down when the interest rate goes up?

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Rent vs. buy in your 50’s Answered on October 25, 2016

Hi Terry- We have 2 kids in college and recently sold our house because it was too expensive to…

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How can I obtain credit to purchase property/car Answered on October 25, 2016

I am an unemployed young adult who have recently received a substantial amount of money. I don’t…

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Retirement income planning advice Answered on October 25, 2016

Who do you recommend in the Chicago area to help me with what to do with my 401K etc as I enter…

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529 Plans, State of Illinois Answered on October 24, 2016

Please give me your opinion of Illinois’ 529 Plans. In particular, what do you think of the Bright…

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Living Will Answered on October 24, 2016

Can Living Trust forms be obtained on-line or must I go to an Attorney?I don’t have much, but I want…

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Buying kids first stocks as gifts Answered on October 24, 2016

You talking WGN about a first stock to buy kids as gifts to get him started in stock trading what is…

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Debt Help for Seniors Answered on October 23, 2016

I recently read an article that you wrote in the Tampa Bay Times regarding Debt Help foro Seniors. I…

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Personal Financial Organizer Form Answered on October 23, 2016

How do I get a copy?

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The Later Years — Money for Fun Answered on October 23, 2016

I would like your thoughts on whether a man entering his late 60’s, with no spouse or offspring,…

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escheated Answered on October 15, 2016

Is it necessary to make a contact with say insurance company’s holding policies 20 years old? State…

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foreclosure on ex-wife impacts her son Answered on October 14, 2016

My son gave his wife the house in their divorce but her credit was too awful so the mortgage stayed…

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Should I pay cash for a new car or almost new? Answered on October 13, 2016

I recently sold my home and have $60,000 left. My bills are paid, all credit cards are 0.00 balance.

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Roth IRA Answered on October 13, 2016

If I convert money from an IRA to a Roth, do I lose the interest rate?

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possible usury Answered on October 12, 2016

My husband was a union member for 34 years until he retired early with an “earned” disability.

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529 plans Answered on October 12, 2016

I enjoyed your October 9th column in the Hartford Courant on 529 plans. I have two sons who have…

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1st Purchase Home Mortgage Answered on October 12, 2016

My 29 year old daughter is looking to buy her first house. She is wondering if she should pay off…

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Escheate Answered on October 8, 2016

Hi Terry, No question…just thanks for the WGN (Escheate) segment this week. Looked at some of my…

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what to do with vacant land Answered on October 8, 2016

I purchased some land outside of Tucson in the 60’s and the taxes were nothing for many years…

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Best secured cards after a chapter 7 discharge Answered on October 8, 2016

I was wondering what would be the best secured credit to apply for after a Chapter 7 discharge ?

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Where to invest for Gold Answered on October 2, 2016

A few years back I followed your suggestion and invested in the Everbank Gold Fund which has since…

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Student loans Answered on October 1, 2016

Hi Terry, I recently received financial aide but it won’t cover my tuition for grad school. Any…

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Bright Start Answered on October 1, 2016

Good evening, I saw your post on why you shouldn’t use Bright Start. If i already have been using…

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Reserve Currency Answered on October 1, 2016

What do you make of all this talk of the dollar being ditched as the reserve Currency and the…

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IRA REQUIRED MINIMUM DISTRIBUTIONS Answered on September 30, 2016

In 2 years I will need to begin to take my Required Minimum Distribution, where is the safest place…

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Life lock or similar product Answered on September 30, 2016

Should I purchase a product like lock life. We have multiple checking accounts and credit cards.

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term or life insurance Answered on September 29, 2016

I just turned 59 today. I have no children. Not married. I have term but as you know it will expire.

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date of maturity of Series EE savings bond Answered on September 29, 2016

I have a Series EE savings bond issued 09/1986. Is the bond fully matured as of September 1, 2016 or…

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Are personal tuition costs tax deductable? Answered on September 29, 2016

Hello, I’m 57 and returning to school in 2016. I’ve paid the tuition costs in full in 2016 and I’m…

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where to put money Answered on September 28, 2016

have recd a cash settlement….have other retirement money in place….whats the best place to put…

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internet fraud — horrible scam Answered on September 28, 2016

Hello, I am wondering if you can point me in the correct direction. I had receeved an e-mail about…

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Long term care insurance increases and inflation protection Answered on September 28, 2016

At age 58, I purchased LTE insurance from a reputable company. Now, as I approach age 63, I am told…

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fixed indexed annuity question — Terry says: Don’t Do It!!! Answered on September 27, 2016

I am 71 years old and recently retired. I have money in a 401K that a financial adviser suggests…

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necessary info to leave in my will Answered on September 27, 2016

A while ago you were kind enough to enable us to have a list of necessary information for my will…

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Refinance mortgage at lower rate or pay down current loan? Answered on September 27, 2016

We own a condo and owe about $100k on our current 30 year fixed mortgage (5.125% interest rate) and…

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Personal financial organizer Answered on September 27, 2016

Where can I download and print this out for myself and my children?

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Medical Bills — Now What? Answered on September 27, 2016

What suggestions do you have to pay off excessive medical bills that accumulated when I was out of…

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Searching for an unbiased, fee based advisor Answered on September 27, 2016

Hi Terry, You had responded back in January of this year to a question I had about paying off my…

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Beneficiary Problem For Cohabiting Couple Answered on September 26, 2016

My Mother lives in another state. My boyfriend lives with me. Each is a 50% beneficiary of my…

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Federal Long Term Care Insurance Premiums Over Age 80 Answered on September 25, 2016

My husband and I have FLTC Insurance and have two questions relative to your column in the Santa…

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Help — need methods of debt relief Answered on September 25, 2016

I have about 34000 in unsecured loans and credit card debts. i am paying about 1500$ a month on…

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interest rates & the Fed Answered on September 24, 2016

Terry: when the Fed raises interest rates is that good for my money market investments or bad? I can…

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Inheritance, Gift Tax of Money from Philippines Answered on September 24, 2016

Hello! My family owns property in the Philippines. We are in final stages of selling it. Because…

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Auto Insurance vehicle coverage for retirees Answered on September 24, 2016

Hello Terry We would benefit greatly from some suggestions on auto vehicle coverage, including…

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Long Term Care Ins — Companies Need to be Audited! Answered on September 24, 2016

Having read your article advising policy holders burdened by the up to 126% increases in premiums I…

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Business grants for minorities Answered on September 22, 2016

Where can I get a first time minority business grant.

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Government Grant Answered on September 21, 2016

Terry, what’s the best official website where I can do research on acquiring a Federal Government…

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estate question Answered on September 20, 2016

I am the executor of my friends estate and was beneficiary of all assets when she passed . Due to…

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LTC insurance -combo life Answered on September 20, 2016

To secure a combo life /LTC policy, what type of health underwriting is required to secure the life…

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personal finances Answered on September 20, 2016

I applied for a ParentPlus loan for my son’s college tuition. I was approved and my son was able to…

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FAFSA and Divorced Parents Answered on September 20, 2016

Hello, My 21 year daughter moved to her Dad’s house in Florida in September of 2015 (I live in…

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Federal Employees Long Term Care Insurance Answered on September 20, 2016

In your recent article “Sticker shock for long term care insurance”, you stated that “Premiums were…

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I no longer work for a company Answered on September 20, 2016

Im 60 yrs old and no longer work for the company i had a ira with though edward jones i want to…

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Federal Long Term Care Insurance Answered on September 20, 2016

What was the source of your information regarding the number of federal employees who have…

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long-term-care insurance Answered on September 13, 2016

Thank you for your article discussing the sticker shock of the rise in premiums for long-term-care…

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Umbrella Insurance Policy Answered on September 13, 2016

My homeowners and auto insurance rep is recommending an umbrella insurance policy (365.00 per…

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mortgage with low credit score? Answered on September 13, 2016

We live in Brookfield and have our home paid off and would like to move. Our house is not worth as…

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Where to Park Money after Spouse’s Death Answered on September 12, 2016

My husband just recently passed away and I will be receiving the death benefits plus other funds…

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Why Is My Banker Pushing Annuities? Answered on September 12, 2016

Hi, Terry. I am in the process of transferring several IRA accounts, as each one reaches maturity,…

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FLTCIP Premium Increase — Terry Corrects an Error! Answered on September 11, 2016

In your article you state that premiums for “anyone over age 80 were not increased”. My wife, age 81…

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Fed rate increase Answered on September 11, 2016

So can you explain how .25 of a point raise will mean very little to someone’s savings but the cost…

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I’m a chicken Answered on September 11, 2016

Just wanted to say I read Chicken Money a few moons ago and it’s lessons have stuck with me over the…

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Long-term care insurance combo poicies Answered on September 11, 2016

A recent article of yours published in our local newspaper dealt with new combination life/LTC…

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Financial Planner — how to judge? Answered on September 1, 2016

Hello Ms. Savage. My wife & I are big fans. Been following your advice for years. Your are so…

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online stock trading Answered on September 1, 2016

Which online stock trading company would you recommend? Firstrade, Scott Trade, Ameritrade, E*Trade,…

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credit monitoring services Answered on September 1, 2016

Should I have credit monitoring and if so what do you recommend. We have 4 checking accounts and…

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will medicaid take my mothers house after she passes? Answered on August 30, 2016

In 2006 my mom did not have health insurance & ended up with congestive heart failure &…

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inheritance and special need trusts for disabled Answered on August 29, 2016

hi I have a question if a person is 77 years old and disabled in a wheelchair in Illinois and on…

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Pay Off Mortgage in retirement? Answered on August 29, 2016

My husband and I are retired and have approximately $1.4 million in IRA/retirement funds. Our home…

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EE Savings Bonds — Complicated questions for distribution after a relative’s death Answered on August 29, 2016

I have several EE Savings Bond that were issued in 1989 and were owned by my Aunt. l was added as a…

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Insurance website Answered on August 29, 2016

What’s the best life insurance for cheaper…

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Social Security article Answered on August 29, 2016

Dear Terry, Enjoyed your recent piece, thanks for outlining some history of Social Security…

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401K after being terminated from job Answered on August 28, 2016

Hi Terry, I was just let go from a job I was at for 19 years. What do you recommend I do with my…

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Roth vs. IRA withdrawl Answered on August 28, 2016

I’m 75 and retired. I have about $650K in a Roth and $98K in an IRA. My wife (age 73) has $900K in a…

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Should I not be using my IRA? Answered on August 28, 2016

I worked at a very large company in a middle management type of position for many years. About a…

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Annuity purchased — Terry Says “giant ripoff”! Answered on August 27, 2016

I just heard you on WGN and have a question regarding the American Equity Gold deferred income…

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Buy or lease a car Answered on August 27, 2016

I am retired and I would like to get a new car. My car is 19 years old. What is your feeling about…

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IRA/401K — advice? Answered on August 27, 2016

Hi Terry, I’m sixty-three years old and have been retired for two years plus from the railroad…

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Life Insurance Answered on August 27, 2016

I’m a single mom with three boys aged 26, 20 and 16. I can opt for additional life insurance through…

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senior property tax freeze in cook county Answered on August 26, 2016

My neighbor’s house was misclassified for 50 years as a two story with full basement when in reality…

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Engaged Couple Considering Savings Account Option Answered on August 26, 2016

Hello Ms. Savage, Thank you for taking the time to answer our question. We are newly engaged and are…

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IRA BENEFICIARIES tax consequences? Answered on August 26, 2016

Dear Terry, My 2 children are my IRA beneficiaries. If I die will they have to pay taxes on the…

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dividend reinvestment? Answered on August 26, 2016

Is it best to let dividens roll back over to purchase more holdings of the same fund … or to take…

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Refinance Mortgage? Answered on August 26, 2016

I am in the 8th year of a 30 year mortgage @ 4.5% with 85K remaining to be paid. Would it be wise to…

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IRA annuity income Answered on August 21, 2016

I heard your comments on this on WGN. My husband passed away a year ago. I had all of his IRAs put…

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Assisted living Answered on August 21, 2016

My parents (93 & 94) living in a 55+ community are needing to move to an assisted living…

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Long Term Care Insurance premium increase Answered on August 21, 2016

Hi, Terry. In 2005, at age 56, I purchased LTC insurance through my employer, the federal…

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RMD used to purchase a QCD annuity. Answered on August 21, 2016

Dear Terry, Next year I and my wife will begin taking required minimum distributions from our…

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Identity Theft Answered on August 14, 2016

I received a letter that I opened a savings account at some credit union in Virginia (never been…

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Student loans Answered on August 14, 2016

Hi Ms Savage, I’m sure you have addressed this type of question before…However, what is the best…

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Your recent Tribune column “do your research before diving into annuities” Answered on August 14, 2016

Could you please elaborate a little more on your paragraph “take a portion of your rollover money”,…

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Life/Long-term care insurance. Answered on August 14, 2016

My wife (age 73) and I (soon to be 73) are in fairly good health (although my short term memory has…

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combo life/LTC policies ( as cited in you recent article) Answered on August 14, 2016

i am 84. Is that too old to get such a policy? if not, what companies, offer such policies and what…

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Special needs trust Answered on August 12, 2016

My son’s settlement was put into a special needs trust. The bank has been investing it in the stock…

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Grandchildren College Investment Answered on August 12, 2016

I’m trying to contribute to my grandchildren’s future college. I closed out Illinois Brightstart…

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Covered Calls Answered on August 12, 2016

Hi Terry, Do you think selling covered calls on stocks is a viable growth option? I am interested in…

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difference in fed student loans Answered on August 12, 2016

what is difference between fed direct subsidized loan and subsidized student loan…

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MRD Answered on August 12, 2016

During the year that I turn 70 1/2, does any withdrawal from an IRA count toward the MRD, or do I…

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irrevocable trust for home Answered on August 12, 2016

What are the pros and cons of placing a personal residence in a trust?

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pre marriage finances Answered on August 11, 2016

your recommendations for my son re: pre-marriage & $$? We are pretty well off, he has no debt,…

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401k distributions to adult children? Answered on August 11, 2016

I have a small(100k) 401k and will be 70 1/2 in a few years.Is there a way to give this money to my…

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BEST STOCKS TO INVEST IN INDIA AT PRESENT AND FOR HOW LONG Answered on August 11, 2016

WHICH ARE THE BEST STOCKS IN INDIA TO BUY NOW AT WHAT PRICE AND HOW LONG TO HOLD?

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Withdrawal rate in retirement? Answered on August 10, 2016

Retired 4 months ago collect S S ,have Medicare and va health benefits,am in good health,should I…

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Silver bars or stocks? Answered on August 10, 2016

I asked a question of investing in silver bars or etf mutual fund Also going to a company like…

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Grandson’s 529 plan Answered on August 10, 2016

I’m grandma owner/participant of my grandson’s 529 plan. Should I transfer it to his parents 529…

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First Time Home Purchase With Settlement Money Answered on August 9, 2016

I have a question on this. I have decided to take half of my divorce settlement 26k after a year…

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Credit Card Debt Answered on August 9, 2016

Hi Terry, I’m having difficulty paying off my credit card debt and am currently only able to make…

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Unexpected Gifted money Answered on August 9, 2016

I recently was gifted $28,000. I am 74 years young with about $250,000 invested in CD’s and a…

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Credit Score Answered on August 9, 2016

Hi Terry, I wrote to you over a year ago in reference to my inability to get a credit card after…

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457 ICMARC RETIREMENT Answered on August 9, 2016

Hello, My son is 23 yrs old and is a wild land firefighter and has just been offered benefits. How…

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Chicken money Answered on August 9, 2016

New to your site – What is Chicken Money?

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Annuitization done — now how do I gift the payments? Answered on August 9, 2016

This may be a study in frustration. I didn’t find the site before I made a decision to annuitize 4…

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Co-sign a car loan? Answered on August 8, 2016

A 80yr old needs very much to retire, but she has co sign for a vehicle for a family member and now…

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annuities in 40l(k) Answered on August 8, 2016

What are both the positives and the negatives of putting a portion of a 401 K into an annuity after…

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Financial organizer Answered on August 8, 2016

I just signed up for your newsletter. I don’t see any link for the financial organizer form.

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Commercial real estate investment Answered on August 8, 2016

I contacted “commercial real estate income funds” because I heard about it on WGN, the minimum…

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ETF’s that rebalance? Answered on August 8, 2016

I recently transfered my some monies to an existing IRA that I’ve had for many years. I was…

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delayed annuity Answered on August 8, 2016

-Does cost of buying an annuity and amount of return f lactate with interest? -can I buy delayed…

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Index Funds — how to move my account Answered on August 7, 2016

Like many I am paying (1.3%) a fund management fee, in this case for my IRA/Roth retirement…

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personal financial organizer Answered on August 7, 2016

where is the link for the Personal Financial Organizer? thank you, barbara…

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Co-Op Communities Answered on August 6, 2016

Hi Terry, I hope you’re well and happy. I am a 71 year old widow and will sell my house in the next…

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debt Answered on August 5, 2016

Dear Terry, I am in desperate need of help. Our credit card bills amount to 40,000.00. Yep you read…

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Genworth LTCI Answered on August 5, 2016

Mom is 95, legally blind, been paying premiums for years. Is it possible she will be taken off the…

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post-retirement investment strategy Answered on August 5, 2016

I understand the data on average superiority of index mutual funds to managed funds while building…

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universal life insurance Answered on August 5, 2016

my 92 yr old dad needs options for his universal life policy taken out in 1987. The insurance…

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Annuities direct Answered on August 4, 2016

I heard last part of your discussion on 8/4 with Steve Bertrand re: annuities and was in the car so…

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Index Funds Answered on August 4, 2016

Your article in the Times about index funds suggests that index funds beat most managed funds over a…

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Stock and Housing Market — another crash? Answered on August 4, 2016

Terry – I’m retiring in 2017 and I’m frightened by what I hear about another stock market adjustment…

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financial advisor Answered on August 4, 2016

We are meeting with a Geiger Wealth manager. I want to know if they sell only annuities and who…

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Marriage affecting personal credit scores… Answered on August 4, 2016

Hi Terry, My fiance and I were planning on getting married but she is afraid it will ruin her credit…

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Investing Answered on July 30, 2016

Terry, I am new to investing. What is the best way to learn about stock & bond markets,…

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Corporate bonds Answered on July 29, 2016

I have 5 corporate bonds (laddered) and I wonder how safe these will be in the future. They are all…

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short term or long term disability insurance Answered on July 28, 2016

for a healthy 63 year old nearing retirement in 3 years with recently taking a less stressfull job,…

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Public Companies Going Private Answered on July 28, 2016

I own shares in a company that has deregistered from the SEC Stopped trading on the pink sheets – a…

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Required401k distribution Answered on July 27, 2016

I am 81 and employed part time in a business owned by my sons. I am required to take my 401…

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403B — safety inside retirement plan? Answered on July 26, 2016

If bonds may take hit soon, how would you diversify your 403B with only 2 years to retirement?

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fixed annuity maturing Answered on July 26, 2016

Fixed annuity maturing 8/4 my husband took care of this …he has been diagnosed with dementia and I…

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ETF’s Answered on July 26, 2016

Our current managed portfolio consists mostly of ETF’s vs Mutual funds. An advisor from a different…

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portfolio adjustment Answered on July 26, 2016

I am retired for three years. My present portfolio has a mutual fund component that is presently…

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Paying off equity line of credit (second Mortage), Answered on July 22, 2016

Terry, I had a $50,000 (elc). I’ve paid it down to $11,000. The bank caught me at a bad time 2010…

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withdraw of 120.000 from fed thrift saving plan for down payment on house. Answered on July 22, 2016

Terry, i’m a fed employee enrolled in the thrift saving plan. I will be 59 1/2 years old in November…

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Financial Organizer Answered on July 22, 2016

I signed up. when i got the response it gave a site to click on, but the site was not highlighted so…

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Financial adwaiser speak Polish? Answered on July 21, 2016

Do you know fiduciary financial adwaiser who speak polish?

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Life Insurance for Children Answered on July 21, 2016

Hi Terry, Should I purchase life insurance for my children (ages 6months old & six years old)…

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Online bank CD’s Answered on July 21, 2016

There are a few online banks offering 2% but online banks seem so intangible, as long the bank is…

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Life Insurance Post Cancer Surgery Answered on July 21, 2016

Hello Terry, I am 58 years old and a 2 year cancer survivor – I had my prostate removed. My Gleason…

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Money receved from Annuity after divorce. Answered on July 21, 2016

What do I need to do with the money. I don’t want to lose it to taxes. I am 61 yrs old, Retired and…

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bond funds Answered on July 21, 2016

I am 62 yo, still working, at least for another 2-1/2 years. My 403B is with American funds with no…

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Link to Terry’s Personal Financial Organizer Answered on July 20, 2016

I signed up for your newsletter, but didn’t receive the link to your “Personal Financial Organizer.”…

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budgeting after divorce Answered on July 19, 2016

My ex-husband , who is an accountant, recently divorced me after 30 years of marriage. I trusted him…

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Going downhill fast! Answered on July 19, 2016

My husband and I are 74 and 77….he has Alzheimer’s. We have both worked all of our lives but due…

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Safe haven for cash Answered on July 13, 2016

Hi Terry, as of right now I am heavily invested in stocks and mutual funds. Where would you say is a…

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Best Options to Rollover Pension Funds Answered on July 12, 2016

I am 58 years old recently retired from employment and requested my retirement pension in a lump sum…

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financial Answered on July 11, 2016

I am an 80 yr. old woman that worked and saved all my life. I don’t trust anyone with my money…

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Aspirity Holdings? Answered on July 11, 2016

Are you familiar with this company, and if so, your opinion please. Thanks in advance…

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Closing Fees & Attorneys Answered on July 11, 2016

I just received and accepted an offer on my single family home. I have 4 days to find an attorney to…

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Health care charges Answered on July 3, 2016

Can you assist my effort to have health care providers limited in their charges to uninsured or…

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pension investment being forced early Answered on July 3, 2016

Greetings! One of our retirement pieces that we had no intention of touching until age 65, is a…

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Gold and silver now? Answered on July 2, 2016

Is it a good time to invest in gold and silver?

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RMD Calculations on annuities in IRA Answered on July 1, 2016

  After I left my employer, I used money from a 401(k) and purchased IRA Annuities. I have not…

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Reverse mortgage for Mom? Answered on July 1, 2016

My mom is 76, and she is running out of money. She feels like she needs to sell her house. The house…

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US Savings Bond Re Deceased Beneficiary Answered on July 1, 2016

Upon my death (owner of bond), who will get the value of my US Bonds since my husband (beneficiary)…

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Re: 401K investment Answered on June 25, 2016

Sorry I did not give enough info before I am 71 years old — 3 years retired Approximately $190K has…

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Credit Cards Answered on June 24, 2016

My question is whether I should obtain another credit card. I presently have a credit card that I…

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BREXIT UPDATE Answered on June 24, 2016

What does this mean to your investments? Terry’s thoughts before the market open. And midday update!

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Debt Consolidation Answered on June 23, 2016

Hi Terry! I am new to the working world after many years in graduate school and need to start paying…

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Home Equity Line of Credit or Mortgage — pay which first? Answered on June 23, 2016

Hi Terry, We owe 100,000 on our home. We just took a variable rate {4.24%}Home equity line of credit…

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A Reader Responds: Bank regulations (Chicago Tribune June 20th) Answered on June 23, 2016

You are among the most-respected money oracles in the business, and here, you are just pointing to…

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Roth IRAs vs 40l(k) Answered on June 23, 2016

Hi, Terry– I recently learned that I should not be putting money into two Roth IRAs monthly as I’ve…

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Credit Card Debt, balance transfers Answered on June 23, 2016

Hello Terry, I think you are Great, why didn’t we grow up on the same block ! I have found myself in…

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Betterment LLC Answered on June 22, 2016

At the end of the life expectancy calculator at Livingto100.com (mentioned in your recent column), I…

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Heloc — wait to repay or now? Answered on June 21, 2016

My heloc matures in February 2020 and I have a balance of $10,200.00. I understand rates are going…

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Life after bankruptcy Answered on June 21, 2016

Hi Terry, I’m wondering if I need life insurance. Many years ago, I let my policy lapse because I…

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Reverse mortgage impact on senior med program? Answered on June 21, 2016

We own our home. Have no debts. Payoff our charge cards monthly. Our only income is Social Security.

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FICO score different on various sites Answered on June 20, 2016

My FICO score on my Discover statement is 589 and on credit karma it is 637 and 644. Why are they…

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mutual fund fees & disclosures Answered on June 20, 2016

This morning on WGN you mentioned FeeX.com to look up how much you are paying for mutual fund fees.

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Underwater home — can’t keep up with mortgage! Answered on June 20, 2016

Hi terry…. My husband and I inherited a home about 2 yrs ago … We’ve taken out personal loans to…

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Investing for a grandchild other than 529. Answered on June 20, 2016

I inherited a small amount of money and want to invest some of it for my only grandchild. She is 3.

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Savings Bonds to cash Answered on June 20, 2016

Our grandson graduates next week, bonds we have (12 each yr) from 1998 to 2005, approximate value.

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Retired, Paying off debts Answered on June 19, 2016

Hi Terry. I am a retired firefighter. My wife is employed and has her own retirement plan. I want…

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My daughter is marrying a bankrupt man! Answered on June 19, 2016

my daughter has good credit and has a good condo on her own she plans to marry someone soon who has…

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grad gift of stock Answered on June 18, 2016

What stocks would you suggest this month as a graduation gift?

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finding a retirement planner Answered on June 18, 2016

I read your comments about choosing a financial planner but in addition, I am wondering if there is…

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Refinancing student loan Answered on June 18, 2016

Hi Terry, my daughter is trying to refinance her student loans from law school. She has asked two…

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Reader responds to June 12 – Parents’ dilemna-buy sell or rent Answered on June 17, 2016

For the writer whose father cant’ seem to make a decision on how to split time between 2 locations…

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Paying off credit cards as retiree Answered on June 17, 2016

I have $15000 in credit card debt, paying $300 a month min. payment to them. Should I try to borrow…

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variable annuity in retirement account? Answered on June 17, 2016

HI Thank you for your great information Can you educate me on variable annuity ? I took out my 401k…

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parents dilemna –buy ,sell or rent Answered on June 12, 2016

hi-I am hopeful to have a reasoned answer to this perplexing issue– My parents are 80 and have a…

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Investments for retirement Answered on June 12, 2016

I am retired at 60 years old with a yearly income of $20,000.00. I am considering liquidating all…

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Gold Prices Answered on June 12, 2016

Saw the newspaper article entitled “Gold prices are on the rise,” a few weeks ago. The article was…

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At my death. . . Answered on June 7, 2016

I am 64, have no real property nor investments & collect $662/monthe SSI. I have never married…

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consolidating credit cards Answered on June 6, 2016

I need to consolidate a few credit cards….who can i contact?

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Purchase Retirement Home Before Retirement Answered on June 5, 2016

My husband and I are in our mid 50’s and both working but plan to retire in our mid 60’s. We own a…

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5% Returns on Bridge Loans Answered on June 5, 2016

Just saw a TV commerical about a guaranteed 5% return with no risk. It was from Wally Mackey…

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Safety of recommed sites /SavindsBonds.com Answered on June 5, 2016

I entered all the info on me EE bonds in Saving Bonds.com including my name,email,address. They said…

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How to build up low retirement at 61 Answered on June 5, 2016

Hi, Terry! I am a single woman of 61 earning just $43000 per year working two jobs. My main…

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short term disability Answered on June 5, 2016

I received my short term disability CHECK it was 216 i been out of work since April 8 when will i…

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RMD Answered on June 5, 2016

I didn’t realize it was mandatory to take money out of my 401k plan at 71 1/2. Now, I find out, at…

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IRA with drawl to purchase my son first house who is currently unemployed Answered on June 5, 2016

I am 62 years old and I would like to withdraw $100,000 to buy my son his first home. Is there…

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CD for house proceeds from estate? Answered on June 4, 2016

My mom died recently and I hope her house will sell soon. A neighborhood bank has an 18 month CD…

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Paying for college for my daughter Answered on June 4, 2016

Terry I have payed for my daughters first year college with the college of Illinois fund. I saved…

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Vanguard High-Yield Corporate Fund Answered on June 4, 2016

Dear Ms. Savage, I read your columns with great interest in the “ Sun Sentinel” and recently you…

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In ref to that answer about student loan debt ruining credit of married woman Answered on June 4, 2016

In reference to the above topic, if the woman would have initially filed her own tax return (so both…

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Early 20’s Need Retirement Plan Investing advice Answered on June 3, 2016

Hello Terry, I writing because I’m lost and don’t know what to-do. I just enrolled in my employers…

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insurance coverage for students up to the age of 26 Answered on June 3, 2016

hi Terry, I listen to you all the time on WGN. Today, (the 25th) I heard you talking about insurance…

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Should I pay off my mortgage? Answered on June 3, 2016

Hi Terry, I have followed you for years — ever since you spoke at our Merck event in Cancun, Mexico…

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executor and funds from inheritance Answered on June 3, 2016

Have you written any articles regarding being executor for an estate that contains both qualified…

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Health Insurance Answered on June 3, 2016

My son is an expat living/working in China and while he has limited health coverage through his…

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FeeX.com — Why so much info required? Answered on June 2, 2016

I just saw you on WGN discussing Feex.com. I visited the site and was surprised at the level of…

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FEEX.COM safety of information Answered on June 2, 2016

You recomend the use of FEEX.COM to check for actual cost of fees. Has this site been thoroughly…

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Reducing Income and effect on social security benefit Answered on June 2, 2016

Terry, I am working in the corporate world making a comfortable salary. I am 58 years old so I am 8…

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Investments at age 80 Answered on June 2, 2016

Should a 77-80 yrs old continue to buy properties like condo or another house for investments ? At…

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consolidation loans Answered on June 2, 2016

Hi Terry, My husband and I are 52 and 53 years old. we have been working really hard to pay off our…

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Withdraw from IRA now — or save for daughter. Answered on June 2, 2016

At 75 are taxes less or more on closing my IRA;s vs. my daughter inheriting and paying taxes? Tax…

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College Funds 529 Answered on May 15, 2016

As grandparents, we have invested in the Oppenheimer Bright Start 529 funds for our six…

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Finding Financial advisor Answered on May 15, 2016

Hi Terry, I just sold my business and retired. I want to find a financial advisor to formulate the…

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Mortgage Notes Yield 6-7% — A scam? Answered on May 15, 2016

What is your opinion on First Position Commercial Mortgage Notes that pay 6-7% interest income ?

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Concealed Student Loan Debt ruins Credit in Marriage Answered on May 8, 2016

Hi Terry, My daughter was married last year. She was in good financial shape until then. Apparently…

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Reverse Mortgages Answered on May 8, 2016

I am considering a reverse mortgage. In general, what do you think of them and do you have any…

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Canceling credit cards Answered on May 8, 2016

Hi Terry I am finally at the point that I have paid off all my credit cards However I have way too…

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Refinancing Home after Modification Answered on May 7, 2016

Good Morning, I live in Wisconsin, my home is located in California, I Purchased through a FHA loan…

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Buying gold proof coins Answered on May 5, 2016

Terry, what do you think about buying proof quality silver and gold coins from the U.S. Mint?

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Buying individual stocks for young investors Answered on May 5, 2016

What is the program that allows investors, especially young people, to purchase individual stocks in…

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Payoff home or Invest for Retirement? Answered on May 5, 2016

Hi Terry .I owe$220,000 on my house .I am 56 years old ,my wife is 59. we probably will not be…

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Annuities Answered on May 5, 2016

Through circumstances beyond my control, I have limited funds at the age of 75. And find myself…

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QLACS Answered on May 3, 2016

what do you think of QLACS?

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Annuities Answered on May 2, 2016

Are annuities a good idea and if so which types? We are discussing the possibility with our Fidelity…

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Roth IRA Answered on May 2, 2016

Hi Terry Here is my question…. I’m 59 years old and I have $6,500.00 to invest. Do I add it to my…

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Real Estate Income Fund Answered on May 1, 2016

Hi Terry, I’ve started looking at this fund “Secured Real Estate Income Fund” that was mentioned on…

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Can I sue the appraiser? Answered on May 1, 2016

Ms.Savage, Is it possible to take an appraiser to small claims court based on the lies stated in the…

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Need cash — where to take it from Answered on April 30, 2016

Need $15,000.00 should I take out of my investments (about 150,000) or consider a reverse mortgage?

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Life Insurance running out! Answered on April 30, 2016

My wife and I purchased Life Insurance when we were in our early 30s and we are 63. We recently had…

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paying off mortgage or saving in bank Answered on April 30, 2016

my husband and I are in late 60’s with approximately $80K owed on mortgage. He is planning on…

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Reverse Loan Mortgage Answered on April 30, 2016

What are the pros and cons of taking a reverse loan mortgage?

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Buy bonds now? Contribute to 457 plan? Answered on April 30, 2016

Terry, Is this a good time to invest in short term Bonds,if so how do I go about picking a Bond? I…

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Gifting money Answered on April 20, 2016

Hi Terry, I am the person who asked you a question about giving my son a gift of about $50,000 to…

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Mortgages for Seniors Answered on April 20, 2016

Terry: We are retired (63/60) with a healthy portfolio of assets ($2.7mm), but modest income…

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Student Loans Answered on April 20, 2016

Hi Terry, I have recently decided to go back to school to pursue a new career. As excited as I am,…

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Home equity line of credit Answered on April 19, 2016

My wife and I have a new home I may want to put another room in the basement is this a good thing…

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Finding a Certified Financial Planner Answered on April 18, 2016

My husband and I are in our mid-50’s. We have saved and invested for years and want to have a CFP…

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Where to get Credit SCORE? Answered on April 18, 2016

You always say the best source to check your credit report is AnnualCreditReport.com, but it’s…

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Equity loan denied for co-signing student loan Answered on April 18, 2016

I apply for a home equity loan line of credit they denied me because u cosigner for my kids students…

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student debt Answered on April 18, 2016

I am a grandmother attempting to help out with my grandson’s student debt. He owes $20,096.72 @6.8%…

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Starting investing at 40. Answered on April 17, 2016

I am almost 41 years old. I bought a condo a few years ago. I don’t have more than 5K in savings but…

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IRA investment Answered on April 17, 2016

What kind of funds at age 70 should an IRA be invested in?

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How to protect myself when going downtown and be able to protect my wallet or credit cards? Answered on April 17, 2016

when going down town or any where and be able to protect my wallet or credit cards, etc what do you…

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DOUBLE MONTHLY PAYMENT TO SHORTEN PAYOFF PERIOD Answered on April 16, 2016

HOW SOON CAN I PAYOFF MY MORTGAGE IF I DOUBLE MY MONTHLY AMORTIZATION? WHAT ARRANGEMENT DO I HAVE TO…

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refinance my home Answered on April 15, 2016

listening to WGN morning news TV, was getting ready for work & caught part of your refinancing…

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Gifting money for down payment Answered on April 15, 2016

I would like to give a gift of cash for a down payment for a house to my son. Around 50,000 to…

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refinance in retirement Answered on April 15, 2016

I will be 63 this year and I still owe $157,820.22 for mortgage (not pay off amount) at 4.00% still…

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401K withdrawal vs. personal loan Answered on April 15, 2016

Hello, I am a 30 year old. I am quitting my job to go back to a trade school to become a web…

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(MAP) Managed Allocation Portfolios/fees Answered on April 15, 2016

We are retired for several years. We have been with this financial group for 20+ years. A few years…

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Wills — Can I do it Myself Online? Answered on April 4, 2016

what secure site can I go to print out my will? will it be legal? Do I need to have an expensive…

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Gift tax return needed if gift is returned? Answered on April 4, 2016

Hi Terry, if ownership of an insurance policy valued at about $60K is transferred from a mother to a…

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Alternatives to a traditional bank savings account. Answered on April 4, 2016

Dear Terry: I would like to know your suggestion for transferring some of my funds, which I have in…

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ROTH IRA –minor child as beneficiary Answered on April 4, 2016

What are the rules when leaving a ROTH IRA to a minor child?

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Beneficiaries and contingent beneficiaries Answered on April 4, 2016

Terry, what is your opinion regarding POD’s or TOD’s (pay or transfer upon death) accounts? I think…

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social securitydeal Answered on March 31, 2016

My wife is 68 collects 1300/month I am 64 I collect 1700/month from social security ,are we able use…

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File and suspend. Answered on March 30, 2016

I just heard you discussing this with Steve Bertrend on WGN radio. I read your article a few times…

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W-9 to fill out for beneficiary for my mom’s annunity benefits Answered on March 30, 2016

What box do I check for Line 3 on a W-9 form. I have to fill this out and turn it into my mom’s John…

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Series EE paper U.S. Savings Bonds Answered on March 30, 2016

I have 15 $100 Series EE U.S. Savings Bonds issued in 1995. My SSN is on the bonds. My name is…

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Property tax exemptions while in rehab care outside the home Answered on March 30, 2016

If my parent does not occupy the home due to disability or care need at this time or any time during…

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Annuity purchase Answered on March 30, 2016

Terry, I hear all these financial people saying that an annuity purchased through a Broker can be…

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Why are trade deals good for America? Answered on March 29, 2016

I am wondering if you could explain why international trade pacts are a good thing for the American…

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Euro – US Dollar Answered on March 29, 2016

In Last 5 or 6 years 0. 88 – 0.90 Euro buys 1.00 USD I do not see how Euro has fallen against US…

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safe IRA investment for 90 year old Answered on March 28, 2016

Hi Terry, When my mother turns 90 next year her variable annuity IRA will annuitize. We would like…

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FIA Answered on March 28, 2016

Recently an advisor was indicating that we should invest in an FIA. I am a few years away from…

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Column on 401(k) Borrowing Answered on March 28, 2016

Good Morning….Being a lifelong Chicago resident I have always enjoyed your sage advice on…

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Tax on Social Security benefits? Answered on March 28, 2016

I am a 78 year old woman, fully employed, receiving widow’s pension from social security. Are my…

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Drawing out money from a fixed annuity Answered on March 28, 2016

I can draw out 10 percent of the annuity yearly or 20 percent for the first time on a withdrawal. I…

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Retirement Pension Answered on March 28, 2016

I am 54 yo and retired. My husband passed away and his death benefits support me. When I turn 55 I…

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Retirement investment advice Answered on March 28, 2016

HI Terry, I am planning to retire at the end of this year when I will be 68 yrs. old and, if needed,…

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Long Term Care Insurance Answered on March 28, 2016

My husband in his mid 80s has a long term care policy that he has had since 2007. In retrospect,…

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Taxes and other financial implications of renting my condo in Chicago Answered on March 27, 2016

Hi Terry! I’m thinking of renting out my condo in Chicago. I was wondering about the tax…

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medicaid nursing home care and cash-value life insurance Answered on March 27, 2016

I live in Michigan, am 82 years old and my husband passed away a year ago. I have a question on a…

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Include car payment into mortgage? Answered on March 27, 2016

Hi Terry I was caught in the housing market crash of 2008 & had to file bankruptcy to save my…

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457 Retirement Plan Answered on March 27, 2016

My daughter, in her 20s, just got hired as a police officer and is offered a 457 deferred…

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roth ira for child who is jobless Answered on March 27, 2016

Can a parent set up a Roth IRA for an adult child who is jobless?

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plus loans refinancing Answered on March 23, 2016

I listened to you today on WGN. You mentioned a sight where I could find information on refinancing…

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Tax and penalty consequences of cashing in EE Savings Bonds several years after their full maturity date. Answered on March 22, 2016

Terry, I enjoyed your informative article dated 11-22-15 re “…cashing in savings bonds.” In…

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Chicken Money Answered on March 21, 2016

After a lifetime of saving, I have $300,000 in ”chicken money,” other investments, and a pension.

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transferring credit card debt to a 0% credit card. Answered on March 21, 2016

Cannot remember which card you suggested to transfer existing debt and pay off in one year. Also,…

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401K annuities? Answered on March 21, 2016

Hello Terry, Read your book several years ago and followed your column back in Chicago when i was…

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social security — file and suspend? Answered on March 21, 2016

I was born 6/1950. My husband was born 8/1947. He is presently working and not taking social…

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Passing on financial assets in a Will Answered on March 20, 2016

My wife and I, both in our late 60’s, have built a retirement nest egg, not huge, but comfortable.

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lifr insurance loan Answered on March 20, 2016

I owe a mortgage on the home I presently live in. I want to buy another home and to pay for it with…

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Refinance to 15 year? Answered on March 20, 2016

We just refinanced our home with a 30 year 2.99% rate. We owe $227,000.00. Our payment is $1700, but…

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what to do with a 65k inheritance? Answered on March 20, 2016

We are retired( 69 & 71) living ok on social security. We are inheriting 65k. We have no debt.

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what to do with idle cash Answered on March 20, 2016

I have cash which I will not be using for a long time. What do I do to make it grow?

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LONG TERM CARE INSURANCE — really? Answered on March 12, 2016

My wife (66) and myself (72) do not have LTC insurance as we have always thought it better to save…

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safe max cost of new home purchase Answered on March 12, 2016

I am a newly retired teacher and am shopping for a new home for retirement. i am planning on paying…

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parent plus college loans Answered on March 12, 2016

my son has college loans and I have 36,000 in Parent plus loans for him. Interest rates is 7.65. can…

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CMS-500 Bill from Medicare Answered on March 12, 2016

Terry, what is this CMS-500 form that my wife just received in the mail. I did a search on it and…

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Chicago taxi medallion — I’m bankrupt! Answered on March 7, 2016

Hi Terry First of all I like to thank you I often listen to you on radio and you discuss cab…

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Reverse Mortgage Answered on March 6, 2016

thinking of reverse mortgage am 66 years old owe 40;000 home worth 125;000 any red flags I need to…

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DEBT Answered on March 6, 2016

I HAVE A BANK OF AMERICA CREDIT CARD DEBT OF $5,000, WHERE I KEEP TRANSFERRING MY BALANCE TO PAY…

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Tax writeoff for health insurance? Answered on March 6, 2016

Can I write off the cost of private health insurance on my tax return?

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Long Term Care Insurance Answered on March 5, 2016

Terry My husband and I recently met with our financial advisor to discuss long term care insurance.

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refinancing mortgage in your sixties Answered on March 4, 2016

Hi! My parents are 61 and 66 y.o. & are wondering if refinancing their mortgage is a good idea.

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debt counselor recommendation Answered on March 4, 2016

Terry could you recommend a reputable group for our niece to discuss debt counseling. They are a…

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Credit Cards search Answered on March 4, 2016

What web site or association can I go to to find a new low interest credit card.

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Have a $80k stock loss carryover Answered on March 4, 2016

I am 85 and have had this carryover for several years.( was higher some years ago) but currently can…

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homeowners insurance online comparisons? Answered on March 4, 2016

Do you have a recommended site to shop for homeowners insurance?

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Does delaying Social Security pay off if I am retired with no Social Security wages? Answered on March 4, 2016

I retired 20 months ago at age 63. My full retirement age is 66. I have not applied for Social…

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Medicare supplement Answered on March 4, 2016

Dear Terry, there has been some articles,blogs,etc.,concerning choosing part “G” instead of the more…

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Series I Savings Bonds Answered on March 2, 2016

Calculated Value of Your Savings Bonds (treasurydirect.gov/.SBC/Price) does not list the interest…

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consolidate student loans? Answered on March 2, 2016

HI, I want to consolidate my 6-figure student loans into a single fixed interest rate loan. I know…

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Bright Start College Saving Plan Answered on March 2, 2016

Hello, I read a question someone asked you about College Saving Plans and I read your answer about…

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Changing Savings Bonds Beneficiary Answered on March 2, 2016

My dad owns savings bonds naming my uncle as the beneficiary. My uncle recently passed away. How can…

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Home refinancing Answered on March 1, 2016

Hello Terry, I recently lost my job and my husband and I decided that the best thing to do is to…

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Longevity annuity Answered on February 28, 2016

Would have a recommendation that I could check with. Ed jones recommended Pacific Life- do you have…

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Social Security Deferral Answered on February 28, 2016

I was reading your column in the newspaper and had a question about what was said about social…

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safe investment for cash from home sale Answered on February 23, 2016

I am a 60 year old widower just sold my house and have 150000.00 to invest. Im on social security…

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continuing care vs long term care insurance Answered on February 23, 2016

what is your current opinions on the two: continuing care facility or continue with long term…

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Quicken 2016 for Mac Answered on February 23, 2016

Can you understand why the Quicken folks would publish a budget program that WILL NOT allow a user…

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Retirement funds Answered on February 23, 2016

Hi Terry, my husband and I are recently retired. We have a 403b, and Ira accounts. We know that we…

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ETF – GEUR and GYEN to buy Gold Answered on February 18, 2016

What is an appropriate percentage of total portfolio to invest in both GEUR and GYEN ETF’s? I…

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They said I “abandoned” my long-term account — and sold the stock! Answered on February 18, 2016

terry, i purchased 100 shares of baxter in 1985. over the years i reinvested the dividends and…

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municipal zero coupon college bond redemption Answered on February 18, 2016

how do I find out if the bond was cashed.

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Governor speech Answered on February 17, 2016

Terry, Not a question but just wanted to say that I agreed with your thoughts on Governor Rauners…

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Gold — How to Buy It? Answered on February 16, 2016

I heard you discussing negative interest rates and saving in a down economy and how gold can be a…

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Stamp collection valuation Answered on February 16, 2016

Do you know where I might sell my dad’s old stamp collection? I don’t know anything about stamps, so…

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Lifelock, Really?? Answered on February 16, 2016

Your column is generally quite helpful but how can you recommend Lifelock in your column when…

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401k Rollover to annuity? Answered on February 16, 2016

I am working with a financial planner who wants me to roll my 401k into an annuity that he says will…

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capital gains on sale of property Answered on February 16, 2016

Hi Terry I read your column just about every week and my question to you is about capital gains. My…

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Freezing credit Answered on February 16, 2016

I took your advice – froze my credit – should my wife also freeze her credit ? She has been a…

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Minimum Required Distribution Answered on February 15, 2016

I have a 401k and an IRA. At age 70 and a half, can I take a distribution from one account to…

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gold stocks Answered on February 15, 2016

I would like to invest a small amount of money in gold not gold itself but in the gold mines is…

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income from stock in 401(k) Answered on February 15, 2016

My husband and I are living on our S.S. income. We need additional income and are thinking of taking…

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Mortgage refi in second marriage Answered on February 15, 2016

I remarried 6 years ago and I myself invested in a condo in Florida which I bought for $165 K at an…

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Homeowner exemptions and senior “freeze” on property taxes Answered on February 14, 2016

Can I get more then 1 Senior real estate tax exemption ? Can I send in Senior citizen exemption and…

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Investments in retirement Answered on February 14, 2016

Terry I have several questions on moving money from a 401k to an IRA. Currently the money is in a T…

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Ads for high rate CD Offerings Answered on February 11, 2016

Terry, We often see advertisements in the Chicago Tribune from Sun Cities Financial Group offering…

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Senior on how to Pay off Debt Answered on February 11, 2016

I am 71 years old semi retired. I have considerable debt ( 40,000.) and was wondering if I should…

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If I owe on taxes because of sale of home Answered on February 8, 2016

My husband 69 and myself 66 sold our home of 44 years. We paid 110 sold it for 490,000. We took a…

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tax brackets on capital gains Answered on February 7, 2016

you mentioned in a brief article dated oct 2015 that the tax rates that one pays on capital gains…

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Going back to school Answered on February 6, 2016

  I currently work as Public Health Nutritionist, and I have the opportunity to go back to…

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Applying for student loans with bad credit Answered on February 6, 2016

Hi Terry I’m 36 years old and going to school full time in September for a 2 year program. I’ve…

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401K review Answered on February 5, 2016

Hi Terry, How often should I review my 401K account and make adjustments? Thanks, Julie…

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IF THE STOCK MARKET WERE TO CRASH Answered on February 5, 2016

If the stock market were to crash…say, worse than 2008, where should one have their money? And,…

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Capital gains distributed in a mutual fund Answered on February 5, 2016

When a mutual fund distributes capital gains—does the fund pay any taxes or is the total tax…

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Homeowners tax exemption Answered on February 5, 2016

How far back can i claim my home owners tax exemption? Thanx…

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heard you WGN radio – Freezing credit Answered on February 5, 2016

61- Retired – no debit cards – no mortgage or planning to get one- 2 credit cards – use as charge…

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FICO Scores Answered on February 4, 2016

I have a Discover It credit card that provides a updated FICO score as part of my monthly statement.

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Validating Bank Account Beneficiaries Answered on February 4, 2016

How do you make sure your bank will have the beneficiary you have chosen for your account when you…

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Credit Card Debt scenerio Answered on February 4, 2016

Hi Terry, You recently persuaded and discouraged me from filing for Bankruptcy. Thank you! I am…

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Short-term Commercial Real Estate Loans? Answered on February 4, 2016

Hi Terry, know you’re very busy! But what’s your advice on short-term Commercial Real Estate loans?

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CD rates! Answered on February 4, 2016

Hi Terry, What’s your advice please! BMO-Harris Bank just started offering a new CD rate of 2 %,…

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Parent Plus Loan and Retirement Answered on January 31, 2016

Hi, and thank you for reading this. I have a 80,000 Parent Plus loan that I will need to start…

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taxes on capital gains Answered on January 31, 2016

my taxable income for 2015 was $63,061.37; and I sold some long term real estate for $125,000. do I…

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best credit card Answered on January 30, 2016

What is the best credit card to get that offers cash back on all your purchases?

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Student loan Answered on January 30, 2016

I have a federal Student loan taken out for $35,000 between 1992 and 1994 consolidated in 2001.

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Home buying before or after retirement Answered on January 29, 2016

I’ve been researching the issue of whether to purchase a home before I retire or wait to after? I…

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withdrawal of balance of reverse mtge funds Answered on January 28, 2016

Considering withdrawal of balance in reverse mtge of $190,000 and want to keep it safe and liquid.

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College Scholarships – For H4 visa (Dependents of H1 Work Visa) holders Answered on January 28, 2016

Hello Terry, Read your column on how to maximize college scholarships that you can receive (in…

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US Savings Bonds Answered on January 28, 2016

I have some US Savings Bonds that will mature as early as June and another group later this year. Am…

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401(k) rebalancing Answered on January 27, 2016

Terry, please advise if the current downturn is a time to rebalance your 401(k) or if rebalancing…

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Taking Spousal Social Security and delaying my own SS Answered on January 27, 2016

My wife and I have filed for Social Security. We are 66 years old. She is taking her full benefit…

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long term care insurance reference Answered on January 27, 2016

I am a widow..live alone should I consider long term insurance and what should I look for so I am…

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Taking RMD from one IRA, and not another? Answered on January 27, 2016

I have two IRA annuities. I would like to take ALL of the RMD total requirement from one of the…

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Scholarship money Answered on January 27, 2016

I’m at freshman at NIU and I was looking for some free money to help me out. Can you please get back…

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Commercial Mortgage Bridge Loans Answered on January 27, 2016

Commercial Mortgage Bridge Loans came to my attention on Steve Cochran’s show. I am 74, very…

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Personal Financial Organizer form? Answered on January 27, 2016

A while ago there was an information sheet on your website. This could be filled out with important…

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selling my house for cash Answered on January 27, 2016

I want to sell my house valued at around 150,000 for cash am I able to do that if I still owe …

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indexed annuities Answered on January 27, 2016

Have been hearing a lot recently about indexed annuities. Any thoughts and/or comments would be…

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IRA — rollover to funds from broker? Answered on January 25, 2016

I ave an IRA about 165,000. with Smith Barney should I move it to Fidelity or VanGuard?

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Daughter with grandchildren moved back home with debt Answered on January 25, 2016

Divorced eight (8) years ago our daughter recently moved back home with my wife and I along with…

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ETF for Income Answered on January 25, 2016

I purchased a eft stock, PDI. I keep hearing both good and bad. My main interest is dividend income.

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Roth IRA Answered on January 24, 2016

Yes Terry, I am a retired 61 year old single male with a full postal pension and need to know if it…

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Retirement account Answered on January 23, 2016

I have been retired 5 years. I have a deferred nationwide retirement solutions account with 80…

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Selling Funds and moving to Money Market Funds Answered on January 22, 2016

I am 61 don’t plan on retiring until age 66. I have approximately $300,000 in a variety of American…

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Looking to invest 28k for 1 to 2 years Answered on January 22, 2016

Hi Terry, I have 28k I would like to invest for up to 2 years with the least amount of risk. What…

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Rollover 401k, IRA to a commercial market bridge loan Answered on January 21, 2016

Was listening to WGN this morning and the financial advisor was quite adamant about rolling over…

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What do you do with an extra $20K a year? Answered on January 21, 2016

My Native American tribe has just begun issuing per capita payments totaling $20,000 per year. I am…

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Pay off mortgage vs Saving for College Answered on January 21, 2016

Hi Terry, I cant seem to get an honest answer on this question because everyone I ask has their own…

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protecting my retirement funds Answered on January 21, 2016

I need regular withdrawals from my IRA to supplement my social security living expenses. How can I…

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Life Insurance — Still Need it? Answered on January 21, 2016

My husband is 52 and his term life ends in April. At this point in his/our lives… should he get…

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Dividends vs Index Fund Answered on January 21, 2016

I’m invested 90% in vanguards total stock market I had a high at one time of around 300 thousand…

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Heart Answered on January 21, 2016

Heard you on WGN radio this morning…..Do you still wear your heart necklace? I remember it so well…

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Pension Answered on January 21, 2016

I have a TIAACREF and IMRF pension account. How do I choose the funds to invest in? I am 58 and hope…

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Fee for Service Financial Planner Answered on January 17, 2016

Can you recommend a Fee for Service Financial Planner in the northwest suburbs of Chicago? We want…

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GRANDPARENT OWNED PREPAID ILL COLLEGE 529 PLAN Answered on January 16, 2016

when the distribution is made in the first year and considered income to the beneficiary, is it…

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Dependent Answered on January 16, 2016

Hi Terry, My question is my mother is 96 years of age and lives with my husband and I. We own our…

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High Investment return — no risk? Answered on January 15, 2016

Hi Terry, I recall you being on a radio segment in November or December speaking about gaining 6 or…

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RMD Answered on January 15, 2016

My mother is 87 and her health has been declining recently. I had her withdraw more than the…

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Lottery and Collapse Prevention Answered on January 14, 2016

Ms. Savage: I have heard stories about Lottery winners that wound up going broke, or otherwise…

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Stock investing and Reverse Mortgage Answered on January 14, 2016

My husband and I are 72 and 73. We have our Northern home paid for, but have an $80,000 mortgage on…

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Children’s student loans Answered on January 14, 2016

Hello, I have 2 daughters and I’m helping them pay student loans off, I give them each 500 dollars a…

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Can I be required to repay a gift through a will? Answered on January 14, 2016

I went through a very turbulent divorce, with children, in 1998. My parents knew I did not have the…

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My wealth accounts — sell now? Answered on January 13, 2016

Hi Terry, Love hearing you on WGN. I’m a 71 yr. old retired single male. I have accounts with…

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IRA AND ANNUNITY — Mistake? Answered on January 13, 2016

I recently converted my IRA into an Annunity — now i;m feeling like this was not the right thing…

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Retirement fund in stock market now? Answered on January 13, 2016

Here we go again!?… I’m less than 5 yrs out for retiring (59) and the market appears to be…

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Disability insurance or college fund? Answered on January 13, 2016

What are your views on Disability Insurance? I took out a policy 5 years ago after my divorce…

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Life insurance Whole life insurance policies with Northwestern Mutual Life Ins. Co. Answered on January 13, 2016

I have three NML insurance policies & all are paid up with quite high cash values, etc. I am…

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Risky Life Insurance Answered on January 12, 2016

This week you discussed life insurance. You were warning people about a certain type of policy that…

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Lottery Winnings Answered on January 12, 2016

I understand all of the hoopla about the billion dollar power ball lottery, the effect of taxes on…

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retirement money mistake? Answered on January 12, 2016

I withdrew my money from my 403B account and my financial person turned it over to LPL to invest,…

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529 plans Rollover Answered on January 6, 2016

I have set up 529 plans with Brightstart in Illinois for two grandsons who live in Wisconsin. I see…

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RMD Answered on January 5, 2016

My wife and I must start taking the RMD from our IRA’s in calendar 2016. What’s the best discipline…

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Savings Bonds Answered on January 5, 2016

Terry, First off, Happy New Year to you. The questions below are for my mother who doesn’t have…

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Stock Brokers Answered on January 4, 2016

Terry What is your opinion of full service stock brokers like Edward Jones opposed to companies like…

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Living Trust Answered on January 4, 2016

What steps are needed to be taken by my daughter to put my living trust in effect after my…

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adjusted basis record keeping Answered on January 4, 2016

My wife and I paid $45000 for our home and have made $50000 in improvements(let’s assume they all…

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Balance Transfer on Credit Card Answered on January 3, 2016

Hi, is there any legitimate credit card offers for 0% balance transfers to move a high balance(more…

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From Universal Life to Whole Life Answered on January 3, 2016

We recently converted our universal whole life policies (which we had for 35 years) to whole life…

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IRA withdrawals hit Health Plan premium subsidy! Act NOW! Answered on January 3, 2016

In 2014 I took money out of my Prudential IRA. Had some medical bills and had given my 2002 Ford…

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Cutting taxes on IRA withdrawals Answered on January 3, 2016

How can I cut taxes on my IRA withdrawals ? How can I transfer money from a spouse’s federal thrift…

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term life insurance ending Answered on January 3, 2016

At what point do you stop needing life insurance. my term life just ran out. to renew it went from…

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college savings plans — IL or not? Answered on January 3, 2016

advice please for starting a college savings program for Illinois colleges. this would be for use in…

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Finding a CFP for retirement Answered on January 3, 2016

Hi – I’m trying to choose a certified financial planner who specializes in pre-retirement planning.

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FAFSA/IRS dependent status for child age 23 Answered on December 27, 2015

My daughter is 23 years old on 1/1/16 and can file her own FAFSA for ’16-17 undergrad year, however…

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split mortgage 80/20 Answered on December 27, 2015

My daughter purchased a condo. Bank did a 80/20 mortgage. her 1st one is with the bank she uses and…

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529 grandparents asset — impact on FAFSA? Answered on December 27, 2015

Terry, My daughter has a 529 pre paid plan that will pay for 120 credit hours. Her grandmother is…

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which 529 do I choose? Answered on December 26, 2015

What 529 plan are you recommending. I have read that you do not recommend Brightstart or College…

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Investment Advice Answered on December 26, 2015

Is this a good time to invest in the S&P 500? If so, how would I go about investing in the fund…

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savings bonds 30 year Answered on December 26, 2015

terry i have 3 or 4 savings bonds that are due this month 30 year ones that are earning 5 percent…

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70+ pont drop in credit score Answered on December 23, 2015

February 2015 I had my bankruptcy discharged. Since then, I have been able to obtain credit cards…

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Compound intrrest Answered on December 23, 2015

Hi Terry. is $150,000 in one account with an interest rate of 5% the same as having $150000 spread…

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MINOR’S SAVING ACCOUNTS Answered on December 23, 2015

Do you know of any banks that offer some incentive for opening a minor saving account. I know…

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investing for children Answered on December 23, 2015

What is the best way to give a child money for investment? I wanted to buy savings bonds for my god…

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gifting and tax deductions Answered on December 22, 2015

If I gift money to a one of my children,can i deduct it from this years taxes? If so is there a…

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FAFSA, financial aid and 529s Answered on December 22, 2015

When I filed FAFSA it did not ask for both divorced parents income. I was just in court last week…

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high interest rate loans Answered on December 22, 2015

I live in Lansing, Il. I obtained an loan in May 2013 in the amount of 2,525.00 the interest rate…

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529 for grandkids Answered on December 21, 2015

Terry, In your 12-20 Chicago tribune column, you said “don’t start withdrawing until the junior year…

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529s Answered on December 21, 2015

Terry’s column in 12/20/15 Hartford Courant, “5 things to know about FAFSA, financial aid, 529s”…

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when to find cheap airfare? Answered on December 21, 2015

What’s the cheapest time of year to buy airfare for travel in early January 2017? Thanks, Bob…

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Grandparent Custodian of UTMA, FAFSA impact? Answered on December 21, 2015

I am a grandparent I have a custodial stock account for a grandchild. When filling out a FAFSA…

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529 good? Answered on December 21, 2015

I have a two year old and have a small 529 now for her but want to continue to invest for her…

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Broker’s commission on purchase/sale of Exchange Traded Funds Answered on December 21, 2015

What is the broker’s commission on purchase/sale of Exchange Traded Funds?

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Income Levels – – – Senior Living Communities Answered on December 21, 2015

I am a single retired individual and have been looking at the possibility of moving to a senior…

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Children stock gift cards Answered on December 20, 2015

Where are these stock gift cards available in chicago area – NW suburbs? Thx…

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Replacing Lost Savings Bonds Answered on December 20, 2015

Greetings, I recently read an article of yours in the Chicago Tribune on Sunday, November 22, 2015.

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529 for grandkids Answered on December 20, 2015

Is it better for us, the grandparents, to maintain 529s in ours and the grandkids’ names OR give the…

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Inheritance and taxes Answered on December 20, 2015

This Christmas has been especially trying for us. My husband just started treatment for prostate…

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FAFSA for divorced parents Answered on December 20, 2015

Terry, In your recent article “5 Things to know about FAFSA”, you state “The FAFSA form ask for all…

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College Savings Answered on December 18, 2015

We have a college savings account through Hartford for my son. It is a custodial account with my…

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We need a financial therapist! Answered on December 16, 2015

Hi Terry, I love hearing your financial advice on WGN. I am writing because my husband and I need…

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Selling a House Now Answered on December 16, 2015

Hi Terry, I just heard your segment on 720AM in Chicago and I have a question that I hope you can…

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Savings accounts vs Investments for Grandchildren Answered on December 16, 2015

Hi Terry- We have savings accounts for each of our 17 (yes 17!!) grandchildren and deposit money in…

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Investment after sale of family farm Answered on December 16, 2015

We sold our family farm, I received $216K. I paid off credit cards and bills, I put money into my…

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REVERSE MORTGAGES Answered on December 16, 2015

Approaching the age of 62 in May, and may be interested in applying for a reverse mortgage.I sent…

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Rollovers/transfers from one 529 beneficiary to another Answered on December 6, 2015

I am owner of several 529 education plan accounts for 8 grandchildren and great grandchildren. I…

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Buy life insurance on grandkid’s parents? Answered on December 6, 2015

Can (or should) my wife and I buy an adequate life policy on one or both of my daughter and…

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Pay Off Our Mortgage? Answered on December 6, 2015

Hi Terry, My wife and I are both 30 and recently married. We have no debt other than a couple of…

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Old Italian Bond Certificates Answered on December 5, 2015

TERRY,I FOUND SOME ITALIAN DEBIT BONDS ISSUED IN 1941 AMONG MY GRANDMOTHERS BELONGINGS.WOULD YOU…

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Stock gift card and capital gains Answered on December 4, 2015

Terry, very interesting Savage Truth this week. Question: Are there thresholds of dollar amounts…

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Cashing in Savings Bond — Taxes Answered on December 4, 2015

I read your article on US savings bonds in Sunday’s paper 11/22/15. You stated that you must pay…

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savings bond taxes at maturity Answered on December 4, 2015

Re: Balto. Sun article 11/22, do not understand paying Fedral taxes on year savings bond mature even…

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Financial Advisor information Answered on December 4, 2015

Hi Terry, I wrote to you recently after leaving my advisor and moving money to Vanguard. However,…

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Stockpile and OMG book Answered on December 3, 2015

I liked your idea of the stockpile giftcard and will purchase one for each of my 14 year old…

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ACA open enrollment – How do CSR’s work? Answered on December 3, 2015

Enrolling via the marketplace for the first time this year. Your article in the Tribune mentions…

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Confidence in pensions (vs. other savings forms)? Answered on December 3, 2015

Hello Terry, I’m 36, and In my 10th year as a public school teacher. My school district and state…

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Reverse Mortgage Answered on December 3, 2015

My husband is considering it. Is it a good idea or not?

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where to get those savings piggybanks Answered on December 3, 2015

You mentioned in a newspaper article a savings piggy bank for children with four compartments.

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Will Vs. Trust Answered on December 2, 2015

My husband and I are delinquent in visiting an attorney for estate planning purposes. We are in our…

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As a single senior, rent or buy a residence? Answered on December 1, 2015

I am a single young (67) senior who recently sold a home that I knew would require significant…

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Savings bonds — gift to avoid taxes? Answered on November 30, 2015

My wife and I are both 72 years old and we have $80,000 in U.S. Savings bonds dating back to 1989.

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EE savings bonds Answered on November 30, 2015

I purchased bonds years ago and they were not registered correctly so that my child cld use them for…

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Victim of Identify Theft Answered on November 30, 2015

Hi Terry! Rt. now I’m on my 3rd 90-day credit alert with Equifax/TransUnion/Experian. I’ve filed a…

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529 college fund choice Answered on November 30, 2015

Which 529 college fund do you recommend?

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stock for kids Answered on November 28, 2015

The other day when I was driving I heard you speak about $50 or so could get grandchildren into the…

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Medicare Supplemental Insurance Plans – any gotchas? Answered on November 28, 2015

I am 69, and have been experiencing chronic back and hip pain. I received ultrasound physical…

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Maturing Series EE Bonds taxes Answered on November 28, 2015

Regarding your article on maturing 30 year Series EE Bonds, you indicated that Federal Income Tax…

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Personal Financial Organizer Answered on November 28, 2015

Where do you find the Personal Financial Organizer? This is what I am referring to. “To help get the…

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2016 financial preparedness Answered on November 28, 2015

Terry, we’re in a predicament here in how we should prepared for 2016 and need your advice. I am 63…

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Roth for kids? Answered on November 28, 2015

My 78-year-old father has convinced my tween daughters to put their babysitting/pet sitting money…

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Social Security Credits Answered on November 28, 2015

Hi Terry, I am almost 61 years old and have earned 32 work credits prior to 1990. I have worked with…

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Savings bonds valuations Answered on November 28, 2015

11.27.15 good informatio in Chicago Tribune. how do we run a savings bond valuation report? is there…

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Balance Transfer vs. Loan Answered on November 26, 2015

Hello Terry. I have multiple cards and can only afford to make the minimum payment on each one. I’m…

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Cancel my disability insurance now? Answered on November 26, 2015

Do I still need disability insurance? I can afford it. I am a 61 yr. old dentist who hopes to work…

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Cost of Financial Planners Answered on November 25, 2015

Hi Terry, I am a single woman who has been a diligent saver my entire life. I have always tried to…

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Places to put RMD dollars Answered on November 25, 2015

My wife and I are both retired. I am taking my RMD dollars as required. We have excess dollars as…

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Safer Investments, but higher yields? Answered on November 25, 2015

I have been researching safer (than stocks) investment options such as indexed annuities and…

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College loans debt refinancing? Answered on November 25, 2015

We have $100,000 in college loan debt. Where can we get the best interest to pay this off? Also,…

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gold ion form of strips for wallet Answered on November 24, 2015

I recently heard of gold being sold [GOldline] in form of strips for carrying in wallet in place of…

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Account Information Aggregation Answered on November 24, 2015

I have several mutual funds at different firms along with a 401k. I’m looking for a piece of…

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borrowing from retirement plan for down payment? Answered on November 24, 2015

Hi Terry I’m in the market of buying a house. I have been preapproved of a purchase price of…

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Re: your recent column referencing Umbrella Insurance. Answered on November 24, 2015

In your recent column on “5 kinds of insurance needed”, under umbrella coverage,you stated ones…

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bi-monthly and / or extra toward principle? Answered on November 23, 2015

If I borrow, say $50,000 for 15 years at 4.74%, what makes for the quicker payoff? Paying monthly…

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Mortgage Documents Answered on November 23, 2015

Where or how can I get a copy of your 5 Things to know about mortgage documents that I can email…

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Indexed universal life Answered on November 23, 2015

What is your opinion of indexed universal life as part of a retirement strategy…

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House needs fixing husband won’t pay, won’t sell — help! Answered on November 23, 2015

We own a home around built around 1984, 2,900 sq. ft. We pay 7.5% interest (we had bad credit when…

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Married Couple – Joint Trust or Individual Trusts Answered on November 23, 2015

Our assets are in both names (home, condo(investment), savings and checking accounts). I have an…

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Taxes on paying off mortgage Answered on November 22, 2015

Terry, I am 67 want to pay off mortgage with a IRA Matured CD. Do I have to pay taxes on that amount…

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Value of old AT&T shares Answered on November 22, 2015

I have 2 AT&T stocks from NY gifted to me from 1967 and 1968. How can I find out what they are…

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Term Life Insurance after 65 Answered on November 22, 2015

Is it worth it?

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EE savings bonds. Answered on November 22, 2015

I have EE savings bonds that matured in the years 2013 and 2014. You mentioned in your column in…

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Longterm care insurance w pre-existing illness Answered on November 22, 2015

Can you get longterm care insurance with a pre-existing illness?

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re”5 kinds of insurance you might need” Answered on November 22, 2015

not a question..a comment..In your article, you indicated a carpentry might want to consider…

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Long term care insurance Answered on November 22, 2015

I wanted to know the approximate cost of a combination policy of life and long term care. I read…