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Terry Savage’s Archives

Below you will find the columns terry has written by date.

PAGE 1 of 26

Chicken Money Now!

December 10, 2018

“Chicken money” is money you can’t afford to lose. It’s that simple.  The amount of chicken money you need depends on your overall financial situation, stage in life, and risk tolerance.  Just about everyone needs some money that is not intended for ordinary spending and not part of your  investment program. Chicken money should be..

Year-End Tax Tips under New Tax Law

December 05, 2018

Thinking about income taxes is different this year because of the new tax laws. For some people, tax time will be easier and less costly. They will get a $12,000 standard deduction for an individual return or a $24,000 standard deduction on a joint return. If their charitable contributions and state income taxes and property..

Holiday Gifts for Kids – 2018

November 27, 2018

Every year at this time I write a column suggesting money smart holiday gifts for children. The goal is to find entertaining and educational gifts that won’t be broken or forgotten in a few weeks but will generate a life-long interest in and competence about the subject of money. This year’s gifts range from allowance..

Give Generously — and Wisely

November 21, 2018

Did this year fly by faster than ever? The holidays are here again. And now that we have expressed our thankfulness, we enter into the season of generosity. Despite changes in the tax code that make it less beneficial to donate to charities, this is the year to give more, not less. Almost every charitable..

Fix Your IRA and 40l(k) Now

November 15, 2018

Here are three things you must do now to make sure your IRA or 40l(k) accounts don’t get caught in the year-end crunch — and that you’re well prepared for 2019. A few weeks ago, you received your third quarter statement of performance for the year. Or you can go online to check not only..

Bright Start is “Golden”

November 07, 2018

Morningstar has assigned its top Gold rating to the Illinois Bright Start 529 College Savings plan, for the second year in a row. Only four 529 plans were given the gold designation, out of 62 plans rated by the Morningstar analysts. It is truly a high honor – and represents a dramatic change in fortune..

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