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.
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! Now, that information is being used to scam states out of unemployment benefits. And you may..
Gateway to Speculation
Who ever dreamed that Roblox and Fortnite would be the "gateway drugs" to stock speculation? But it's hardly a surprise that a generation that grew up on video games — honing their quick decision-making skills and even paying real money to purchase "extras" — would suddenly turn to "playing" in the stock market! No amount..
Free Tax Filing Help
Tax filing season for the year 2020 is upon us. For many people, it will be both a challenge and an opportunity. The challenge may come in electronic filing for those who have used paper returns in the past. But the opportunity lies in getting your unpaid but deserved stimulus refund deposited to your account..
Update: GameStop — Revenge of the Nerds
UPDATE: 2/1/21 The GameStop controversy has become far more than a fascinating story of David and Goliath, with small investors beating the big hedge funds at their own game using the power of technology. Now, fundamental questions about our free market system are being discussed -- and not only by market participants, but by regulators..
Solving the Student Loan Problem
One of the very first acts of President Biden was an executive order extending the "pause" on required student loan payments through September. But it is likely to be only a first step in the new administration's approach to the current $1.7 trillion in student loans. The word "forgiveness" looms large, but the details of..
IRS PIN Protection
Now you can protect your income tax information as easily as you can freeze your credit report. It's a sign of the times that everyone's financial identity is at risk. The IRS is now expanding its Identity Protection PIN program, formerly available only to victims of identity theft, to all taxpayers who can securely verify..
Could Inflation Return?
Inflation is a distant memory to a generation of investors and consumers. But 40 years ago, as the Fed created money to offset government spending on the Great Society and on rising oil prices, there was an overwhelming fear that the dollar was losing buying power at an accelerating rate. That’s the perfect definition of..
Outlook 2021 and Personal Finance Tips
It's about time. No one could have predicted the insanity that was 2020 in hindsight. So here we stand with a future filled with challenges and opportunities. Covid is an ever-present reality, but we have a real vision of a life made safer by a vaccine that will now be distributed nationally. If we can..
Get the Original Stimulus AND the New One!
The second round of stimulus checks will soon be on the way. Here’s what you can do to make sure you receive yours – and what to do if you never received the first stimulus check that was distributed earlier in 2020. Yes, many people who didn’t qualify for the original check back in 2018..
New Stimulus: Better Late than Never!
Congress finally passed another stimulus bill. It won't be as much money as the first go-round last spring -- but it will extend and increase unemployment benefits and send a $600 check to qualifying adults and dependent children. Here are some of the details, which will be refined as the legislation is written. • $600..
Stop Shopping Now!
Stop your last-minute holiday gift shopping! The euphoria over the arrival of the Covid 19 vaccine has encouraged a surge of optimism that’s resulting in a huge bulge in credit card debt-=- even among people whose income has been impacted by the pandemic. That’s the conclusion of a new report posted at LendEdu.com—a website devoted..
Unemployment ID Theft & 1099s
We are just seeing the tip of the identity theft iceberg. People who received unsolicited debit cards from state unemployment bureaus are warned that their identities have been stolen. But what about the millions of Americans who don't know their identities have been used to collect unemployment benefits? They will be in for a rude..
Kids Holiday Money Gifts
It's tougher than ever to find appropriate holiday gifts for children or grandchildren this year. But the coronavirus pandemic could create even more incentive to give money smart gifts that will last a lot longer than clothes or toys. --The gift of a college education. Given the precarious financial position of many states, I'd be..
Student Loans Now Hot Topic
Whether you’re a current college student or dealing with student loans you took out years ago, the Covid pandemic has created a special kind of angst. Here’s a look at how current students are being impacted – and some updates on what’s being proposed by a new administration to help you deal with your existing..
Weathering Money Winter
The stock market is looking ahead to the time when COVID-19 will be wiped out by a vaccine. But until then, you and your money must survive a long winter. Hopefully, those most in need will have some help soon from a new stimulus bill. But COVID remains a problem that impacts us personally as..
Preparing for your own Mortality
In a time when we wear masks in public, hesitate to embrace and change plans to celebrate the holidays with family, it makes sense to consider our mortality in financial as well as spiritual terms. As the COVID-19 pandemic resurges, we are again faced with the horrible possibility of distanced goodbyes and things left undone...
Small Biz — Health Insurance Special Deal
Health insurance for small businesses has become problematic in this staggering economy. Traditional plans require employers to contribute to the cost of premiums, and require participation rates that are now difficult to meet amidst layoffs. That’s why this year’s Small Business Special enrollment period running November 15 through December 15th is especially important. Even businesses..
Women and Money — Sad Stories
How shocking it is to hear that today's educated and successful women are still being surprised about marital money issues -- whether as a result of death, divorce, illness or betrayal. Yet these true stories below -- all of which I have encountered over the past three months -- illustrate a costly deficiency when it..
Stimulus Check Updates
NON-FILERS WHO DIDN'T GET A STIMULUS CHECK -- DO THIS BY NOVEMBER 15TH The IRS is reaching out to approximately 9 million Americans who deserved a stimulus check but didn't receive one, likely because they earn too little to have filed a tax return, and are not on other government benefits lists such as Social..
Open Enrollment Medicare
Millions of seniors on Medicare have some important decisions to make during the Medicare Open Enrollment period that started on October 15th and continues through December 7th. Lately, that process is complicated by enticing television and radio ads for Medicare Advantage programs that offer everything from dental and visions benefits to rides to doctor appointments..
