Terry Savage’s Archives
Below you will find the columns terry has written by date.
Below you will find the columns terry has written by date.
How Interest Rates Work
Will they or won’t they cut interest rates in September? All eyes are on the Fed, and its chairman Jerome Powell. He is seen as he all-powerful Wizard of Rates – but there’s more to the interest rate market than just one man. The buyers of our national debt – our IOUs – have a..
Artificial Intelligence Arrives
Artificial Intelligence is the buzzword that is driving the stock market and economic capital these days. It is showing up on your cell phone, and in your communications with medical providers, and your online searches. You can’t avoid AI. But you do need to understand it so that you can use it wisely, turn it..
Parent Plus Loans: Act Quickly
In my latest column about student loans, I focused on changes coming to the outstanding loan burden for graduates. But parents who have taken out Parent Plus loans also have some critical deadlines as a result of changes made by the Department of Education. Starting July 1, 2026 you lose ALL of your options to..
Bankruptcy
It has been quite a few years since personal bankruptcies hit the headlines. Before Covid, personal bankruptcy filings were averaging about 750,000 per year. Then stimulus checks and loan forbearances rescued many consumers, and only 517,308 cases were filed in 2024. Now, bankruptcy filings are on the rise again – along with consumer debt, which..
Student Loan Changes — Act Now!
If you have outstanding student loans, you are likely about to encounter some significant and confusing changes. If you have participated in a plan to lower your payments or defer them based on income, you have a relatively short period to contact your loan servicer to make changes. Nearly 8 million borrowers were enrolled in..
Are You Even?
Your 6-month account statements from your 40lk or IRA have likely just landed in your mailbox, or your inbox. Since the major market averages are now nearly back to their all-time highs, the news should be good. But your accounts likely went through a scary drawdown in April, after the shocking announcements of huge tariffs...
Private Equity Targets Your 40l(k)
Wall Street has a new target. With nearly $9 trillion in assets, 401(k) plans have caught the eye of Wall Street insiders. For years, they have been investing in “private equity” and venture capital deals. They find small, promising companies and lend their capital and management expertise — hoping to sell out in the public..
T-Bills (still) beat most CDs (update)
U.S. Treasury Bill interest rates are still mostly higher than the comparable bank CDs. As of August 27, 2025, the yield on a 26 week (6-month) Treasury bill is 4.02%. That's what you received if you participated in the weekly T-bill auction described below. It's easy (see links below) and SAFE! And you can start with..
Equity Linked Annuities
The promises are enticing – stock market upside with no risk on the downside. Or market “participation” with downside “protection.” File this under “too good to be true.” But as with all sales pitches, the devil is in the details. Index-Linked annuity sales reached $65.6 billion in 2024, marking a 38% increase from the previous..
Information, Please
Every day there’s a new headline number to impact the markets. Whether it’s about inflation or employment, about consumer confidence or the rates set at Treasury auctions, each number seems to move the markets – for a moment, at least. And despite all the commentary surrounding those reports, the only true response is felt in..
Social Security — The Latest!
It’s getting worse at Social Security—and it’s not your imagination. Here, as promised, are the latest updates – and some thoughts on the recent SS Trustees report of approaching “insolvency.” Below, my thoughts on that issue – but first some important links for you. CBS’ 60 Minutes updated our Social Security Horror Story report on..
Home Buying Opportunity Coming?
There is never a good time to buy a home – except in hindsight. As first-time home-buyers try to make the leap, the prices and interest rates seem daunting. Prices their parents paid 40 years ago seem like bargains now, and they despair of ever being able to afford their dream house. Take heart. History..
Housing Opportunity?
There is never a good time to buy a home – except in hindsight. As first-time home-buyers try to make the leap, the prices and interest rates seem daunting. Prices their parents paid 40 years ago seem like bargains now, and they despair of ever being able to afford their dream house. Take heart. History..
Artificial Intelligence — A New View
Does the concept of Artificial Intelligence (AI) scare you or intimidate you? Or do you figure it won’t actually impact your life, so why bother learning about it? Well, AI is definitely entering – and improving – your life, whether you choose it or not. When I first wrote about ChatGPT several years ago, AI..
We Live in a Digital World
We live in a digital world – especially when it comes to money. And, like it or not, you’ll soon be forced to get used to it – especially since the IRS will soon no longer accept – or pay out – paper checks! On March 25th, President Trump signed an executive order mandating that..
I-Bond Update — and Advice
The new rate for Series I bonds purchased after May 1, 2025 is 3.98%. That includes a new base rate of 1.1%, which will stay with the bond for its entire lifetime. Future inflation adjustments to these bonds will be made every 6 months, on top of that 1.1% fixed base rate. The rate will..
Student Loans: Do Something Now!
Student loans have been looming in the background for more than five years – ever since payment requirements were suspended during the pandemic. During that five-year period, there were several opportunities to reorganize your debts, based on more generous income provisions, to lower the monthly payments. Many took advantage of those plans, and re-started their..
Know What You Own
In the midst of all the advice about not panicking over stock market volatility, likes a hidden vulnerability: Most people have very little idea about how exposed they are to the stock market! In fact, if you ask people to just give an estimate of what percentage of their non-housing assets are invested in the..
Social Security: True or False?
Update: April 28, 2025 The Social Security Administration is backing off a plan it announced in March to withhold 100% of many beneficiaries’ monthly payments to claw back money the government had allegedly overpaid them. Instead, the agency will default to withholding 50% of old-age, survivors, and disability insurance benefits, the agency said in an..
The Fine Line Between Fear and Faith in the Economy
There’s a fine line between fear and optimism, between financial fact and emotion. The whipsaw headlines these days make it even more difficult to plan for your future and protect your finances. It’s not your fault that your emotions may overwhelm your good judgment. No matter what your political persuasion, the sudden policy reversals are..
