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.
College Acceptance, What Now?
In the midst of this COVID-19 pandemic, high school seniors and their families will receive the long-anticipated college admissions letters in the coming days. They will learn which schools have accepted them and which have put them on the waiting list. They will also be asked to make a nonrefundable deposit with the school of..
Is That All There Was?
Is it over, this quick and devastating bear market? Will we look back in amazement that we could shut down virtually the entire economy and the stock market crashed and then rebounded in days? Or is there yet more bad news that will be reflected in stock prices? I pose those questions, because I honestly..
It’s Not Over Yet
As we approach the market opening on Wednesday, it's obvious that the market is still trying to make up its mind about whether our problems -- the economic ones -- are "solved" by this new agreement. The details are slowly coming out, but clearly there is going to be a LOT of money thrown at..
Money Heaven and Other Thoughts
Note: This is my syndicated column, written last week, and published across the country on Monday, March 23rd. America, and the world, will get beyond this social and economic crisis eventually. Meanwhile, it’s almost cynical to be talking about the financial markets. But, there are lessons to be learned from the past when it comes..
Fed Acts. but Congress Delays (3/23 Pre-open comments))
While Congress is still trying to get its act together, the Fed basically opened the spigots to help small businesses stay in business. Great news! Instead of the market opening down more than 600 points, it now appears the market will open up a similar amount on this good news. Now Congress must act swiftly..
Here We Go Again!
As we enter the third week of financial chaos, the market is still facing a lack of data –and that is triggering yet another sell-off. We still don’t know the extent of the spread of this dread disease, but we can extrapolate. And we are getting a better handle on the economic impact, which will..
Terry’s Response to Your Questions
Thanks for all your questions. As you can imagine, I’ve been overwhelmed with individual questions about specific investments. It would be impossible and unprofessional of me to try to answer them without knowing more details. And that is impossible. So this message is directed at those who get no advice because they are in 401(k)..
Dialing for Dollars (pre-open 3/19)
Take a breath. The stock market has reached a level that is "average" for a bear market, a decline of about 30 percent from the peak. Now, we must look at two other numbers that could spiral out of control. The first is the number of new cases of Covid19 -- now that we have..
You Can’t Hide in Bonds
If you're feeling safer -- or even a bit superior -- because so much of your retirement fund is in bonds (or bond funds) paying a nice yield, you might want to take a closer look. Bond prices are falling sharply -- all categories of bonds from corporate to municipal, from high quality to "junk"..
Mortgage Refi — Silver Lining?
The chance to refinance your mortgage could be the silver lining in the recent financial upheaval. Even before the Fed cut interest rates to zero, rates on 30-year fixed rate mortgages have remained stubbornly above 3 percent, although you can get a 15 year fixed-rate mortgage for 2.625 percent. Why are long-term mortgage rates so..
Ugly Opening Despite Fed
At this point, well before the market opens, it looks like an ugly start to the day --and no real reason for a rally. The futures are "locked limit down." (The maximum that the index futures can move in one direction is 5%.) And when the actual stock market opens, it's likely that we will..
What a Week!
So glad this week is over -- at least for the financial markets. We all need some time to reflect. But while the financial markets can be "turned off" for a couple of days, the threat of illness is with everyone. That can't be measured in Dow points or percentages. Sadly, the "cure" for the..
Why it’s not over at Dow 21,575
Here's why I'm pretty sure that the market will go lower -- even as I write an hour before the close with the DJIA down more than 1900 points. Today, all in one day, three different people asked me how to get "in"! They included -- and I'm serious here -- my dental hygienist, the..
A Bear of a Market!
Now, it's official. We have entered bear market territory, and the market still has an hour to go today. Don't be paralyzed by the headlines. Here's a reminder that if you are switching investments in mutual funds (either inside your retirement account or outside), you get the closing price -- IF you enter your order..
Tues. Pre-open: Rock, Paper, Scissors!
Pre-markets show a huge bounce – perhaps up 1,000 points on the Dow – after yesterday’s record 2,000 point drop. Governments around the world – from the US to Japan and Europe – are promising they will throw money at the economic problems caused by the Coronavirus. Logic leaves a bit to be desired in..
Monday pre-opening: UGLY!
Today will be memorable –and ugly. Stock markets around the world have fallen more than 5%, and the US futures are locked “limit down” with a loss of 5%. The Dow itself is likely to fall more than that at the opening, since it is not constrained by those limits. (If the market falls dramatically..
Why The Market Lost its Bounce
The stock market has lost its bounce. After a decade-long stock market boom, investors have been “trained” to buy every dip. They learned the market would soon bounce back and make new highs. But this time is different -- at least for a while. Why? Because there is no obvious rescue this time. I’m not..
Stock Market — The Bigger They Come . . .
The good news for investors just keeps coming - -and neither political machinations, the fear of a world-wide epidemic, nor warnings from seasoned investment pros have taken a toll. Yet. The stock market has reached new records in recent days. And investors also have record amounts in their retirement accounts. That’s the latest word from..
Beware of Bonds
The stock market has been getting all the attention in recent months, but the bond market has been getting a larger share of the investment dollars. The attraction is the higher yields and presumed safety of bonds. But those lures may prove to be a costly illusion when the next financial crisis arrives. The flow..
“Simplifi” Your Finances
Ever since Quicken was first offered by Intuit in a very basic way in the early 1990s, personal finance has been revolutionized by technology. Easy technology lets you see all your financial accounts in real-time, create spending plans, and be alerted to overspending – from a variety of products and forms. Traditionally, Quicken has resided..
