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.
Use Your Miles
A casual conversation with a group of friends elicited this comment from one woman: “It’s time to start using your miles.” It was an eye-opener. As the Baby Boomers reach age 80, in better health and more wealth than any previous generation, we are confronted with a new financial planning challenge: Spending that money responsibly...
Identity Theft — What To Do!
It makes sense to assume your identity has -- or will be -- stolen! Ever since the Equifax breach two years ago, the "dark web" has the names, birth dates, addresses, and Social Security numbers of millions of Americans! That has created an opportunity for companies to offer services around "protecting" your credit, or helping..
Health Insurance Today
Last year, when the additional subsidies for the purchase of health insurance under the Affordable Care Act (Obamacare) were removed, there were widespread predictions that millions of Americans would go without health insurance. Premiums were expected to rise sharply, even to double, without the government subsidies. We’ve become inured to doomsday prophecies. But in this..
Beat the Market?
Do you think you can beat the stock market? Should you even try? The volatility of the stock market in the past month has demonstrated the overall futility of just “guessing” what the market will do next. Yet lately I have noticed a surge of television commercials and email solicitations, suggesting that some well-known personalities..
MEGO Numbers
I call them MEGO numbers. That stands for My Eyes Glaze Over. Sometimes the numbers are so huge that they don’t even make a dent in our consciousness. For example, the U.S. National Debt now stands at more than $39 TRILLION. And we will add another $2 Trillion in debt in this year. The immediate..
Private Equity Beware
Oh, the irony. Just as market headlines reveal huge worries about “private credit” and “private equity”, the Labor Department (which is responsible for the security of pensions and retirement accounts) has proposed new guidelines to allow 40l(k) plans to include those very same instruments in the retirement plans of unsophisticated individuals. They say it is..
Time to Plan
Given the chaos in the world, when it comes to your personal finances, it’s tempting to just cover your head and let things take their course. After all, everything has worked out so far. And a future fraught with things we cannot control is intimidating. Whether it’s rising oil prices or global terrorism or AI..
Alone and Trusting
What happens when you’re older and alone – with no one you trust to be there in your time of need? If you never had children, or are estranged from them, this is a huge issue. Your friends are aging along with you. Your only relative, a niece, lives thousands of miles away. Your “estate”..
T-Bills (still) beat most CDs (update)
U.S. Treasury Bill interest rates are still mostly higher than the comparable bank CDs. As of March 16, 2026, the yield on a 26 week (6-month) Treasury bill is 3.68%. 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..
Time to Plan
Given the chaos in the world, when it comes to your personal finances, it’s tempting to just cover your head and let things take their course. After all, everything has worked out so far. And a future fraught with things we cannot control is intimidating. Whether it’s rising oil prices or global terrorism or AI..
Avoiding Heartbreak
This breaks my heart. Below are two messages I received recently, describing the compounding of grief and financial disaster in the wake of death of a loved one. So, today’s column is dedicated to all those who love their families, yet let their own pride and stubbornness create this type of disaster. First to arrive..
The Great AI Debate
Artificial intelligence is coming faster and more furiously than you might have imagined. It has the power to change our society, our economy, our health, and our personal relationships in ways you might not want to consider. But you can’t ignore its impact on your personal finances, and on your investment decisions. So, instead of..
Taxes for Seniors
In the coming months, millions of seniors will file their tax returns – and many other seniors will think there is no reason to file a return based on their low income. But not filing -- even with low income -- could potentially deprive you of a refund on taxes that might have been withheld..
Last Chance for FAFSA
Time is growing short for parents of high school seniors (and those returning to college for the 2026-27 school year) to file the FAFSA – the Free Application for Federal Student Aid. This is not just for low-income parents to gain access to Federal Student Loans. FAFSA is used in many college grants and private..
The Annuity Pitch
A decade ago the insurance industry made a huge annuity sales pitch to pre-retirees, offering them “variable” or “indexed” annuities with potential stock market growth – and typically with an attached “rider” promising future income. Now, in most cases, despite the huge gains in the stock market, the income portion is worth far more than..
The Housing Market
With so much attention focused on the stock market, the housing market has faded into the background a bit. Sellers have been reluctant to give up their older 3% mortgages to buy another, more expensive house. And buyers balked at the current 6% mortgage level – completely forgetting that 40 years ago many homebuyers were..
Sell Your Silverware?
With the prices of gold and silver bullion making all-time highs, many people are thinking about turning grandma’s sterling silver flatware or grandpa’s collection of gold coins into cash. It could be considered “found money.” But there are a few things you need to understand before you rush to the nearest coin dealer or hotel..
Why Gold
Gold and silver prices have soared in the midst of global geopolitical uncertainty, concerns about the global role of the dollar, long-simmering inflation, and general economic uncertainty, including another potential shutdown of the U.S. government. As this column is posted, gold is trading over $5200/ounce, and silver at $113/ounce. Regular readers of my column know..
RMD and Review
This is the perfect moment for retirees to review their investment exposure and – if you will be over 73 this year – to calculate your RMD and plan for withdrawals. Yes, it’s January – and markets are still near all-time highs. So, it’s tempting to just ignore those year-end statements now arriving in the..
The Challenge of Chicken Money
Now, things are going to get tough for “chicken money” holders. Your self-discipline is about to be tested as short-term rates decline, while inflation remains steady. It’s easy to set money aside to earn interest when rates are high. But as rates drop, you will be tempted to take just a bit more risk to..
