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.
Long Term Care Insurance — The Latest
The cost of long-term care (LTC) insurance is the price of peace of mind. It’s that simple. The price may be too high for many to pay. But before making that decision, you need to understand some creative strategies for buying LTC insurance that may make it more affordable. First, a review of the basics...
Off to College
If you’re one of the millions who will head off to college in the next few weeks, here’s some practical financial advice to make sure you get off to the right start. Eva Dodds is an accredited and experienced college adviser. Her company www.RootCollegeAdvising.com helps families start preparing for college well in advance, with advice..
Alzheimer’s Costs: Prepare!
Confronting the possibilities that you or a loved one will one day suffer from dementia or Alzheimer’s is a prospect too terrible to consider. That’s why a new book “Don’t Let Dementia Steal Everything” by famed attorneys Kerry Peck (www.PeckRitchey.com) and Rick Law (www.LawElderLaw.com) is both compelling and frightening. More than 6 million Americans are..
Matching the Markets
The markets can’t seem to make up their mind about whether the greatest threat is inflation or recession. Commodity prices of everything from oil to copper and lumber have fallen sharply on fears of an economic slowdown in the United States. The 10-year Treasury note, on which mortgage rates are based, has fallen from 3.50%..
401k Shockers
Your second quarter 40lk retirement plan statement should arrive in the mail any day now. Be prepared for some big surprises. The Balance Shock Everyone starts by looking at their account balance. Be prepared. It will be dramatically lower -- especially when compared to your 2021 year-end valuation. The second quarter was one of the..
Is Housing Next?
The stock market has tumbled, and bitcoin has stumbled. But the one financial asset that has held up -- so far – is the price of the family home. In fact, in the last year the median home price. has risen 20.7%. Of course, the housing market was subsidized by very low fixed interest rates..
Crypto Losses
Crypto markets lost more than $100 billion in the volatile market activity in recent weeks. That brings the total market value loss in crypto to more than $1.3 trillion in the past 6 months! Headline declines in Bitcoin took the price of one coin from $64,000 at its peak to well under $20,000 per coin..
Get a Job — Now!
With inflation still growing, daily costs rising, and the stock market falling, retirees suddenly realize their plans could be upended. Younger families see the cost of food and fuel taking a bigger bite out of each paycheck, causing them to make tradeoffs in spending. Now there's concern about a recession on the horizon. This is..
Fixing Inflation
There is absolutely no doubt anymore. Inflation is deeply embedded in the economy. Today's report of inflation at 8.6% in May is the highest since 1981. The only question is what can be done about this punishing tax that hits hardest at low-income families and seniors on fixed incomes. What will it take – and..
How to Rollover
You worked so hard to accumulate all that money in your 40lk plan. And a huge bull market helped. But when you retire or move to a new job you might be much better off doing an IRA Rollover. The best reason to do a rollover is that the investment choices in 40l(k) plans --..
VA Mortgage Deal
The Memorial Day holiday weekend is a reminder to honor the service of our veterans. It is also a good time to take another look at VA mortgage loans. Now that rates are rising, VA loans have become even more attractive. If you ever served in the military and are considering buying – or refinancing..
Paying for College
The college acceptance letters have arrived, and many families now are facing the scramble to find money to pay for the dream that has landed in their child’s inbox. It’s an issue that should have been discussed many months ago. Most financial aid packages offered by colleges will leave families with sticker shock. But there..
Anatomy of a Bear Market
It’s been a long time since we had a real bear market, and memories of pain fade amidst subsequent gains. For a generation of recent investors, and those with short memories, some perspective is in order. In the past 3 years, the entire stock market outperformed its historic averages. Over the past 75 years, the..
Savings Bonds 9.62%
(updated 5/11 with answers to your questions about purchasing savings bonds.) The interest in savings bonds has never been higher. That’s because in an era of low CD rates, I-bond rates are astounding! From May 1 through November 1st the Series I-bond interest rate is 9.62%! That rate will be paid on all outstanding I-bonds..
No Place to Hide
As a record number of Americans are heading into their retirement years with impressive balances in their 40l(k) plans, the potential disruption of this long bull market has many people trembling. The prospect of actually losing money just as they need to plan retirement living withdrawals is truly frightening for this generation of amateur investors...
Inflation: A Special Report
It's the most important financial headline of this century: Inflation! A new generation of Americans is about to face the impact of inflation – on their daily lives, their financial decisions, their investment choices, and their retirement lifestyle. While many pundits proclaim that this period of inflation will come to a quick end, history shows..
Money and Marriage
The spring wedding season is upon us, and around the country brides, grooms and their parents are making arrangements for extravagant celebrations now that the Covid era is (hopefully) far behind us. According to a survey by The Knot there will be more weddings in the United States in 2022 than any other year since..
Children Worth Tax Refunds
When tax time comes, your children can be worth a lot of money – even if you didn’t earn any income. There are two main tax credits that apply to children, and they are frequently confused. One gives a significant refundable credit simply for their existence. The second gives a refundable credit (this year) for..
Where to get FREE TAX HELP
As I was answering a post on my blog this morning, I realized that many people may be missing out on big refunds this year -- simply because they don't know how to claim them. (Please read my nearby column on both the Child Tax Credit and the Child CARE Credit for some background.) Others..
Pros Don’t Beat the Markets!
Do you think you can "beat" the market? Well, take a look at these new statistics. Even the highly-paid money managers fail dismally at the challenge of beating their benchmark indexes. This morning S&P Dow Jones Indices released the latest damning figures! The numbers speak for themselves, so here is a "cut and paste" from..
