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.
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..
Car Insurance by the Mile
Your car insurance is about to get personal. And if you’re willing to let the insurers track how many miles you drive, you can save a lot of money. The concept of paying for insurance based on the mileage you drive makes perfect sense. Currently, insurers lump you in with a demographic based on age,..
The Lure of Personal Loans
Personal loans are the fastest-growing debt category in the country. The outstanding amount has nearly tripled, growing from $55.3 billion to nearly $160 billion in the last decade. Just as in every other industry, technology has made all the difference, with Fintech companies creating algorithms that can make instant credit decisions. The result is personal..
Medicare’s Expensive 3 Days
In a healthcare emergency it’s difficult to think about finances. But if you or a loved one who is a senior are ever rushed to the hospital, overlooking this one detail could devastate your finances. It’s very simple: The Centers for Medicare and Medicaid Services has a three-day rule that says Medicare will not pay..
And now, The Bills!
Consumer spending soared this holiday season – reflecting high consumer confidence and record employment numbers. The MasterCard holiday spending figures show an increase of 3.4 percent, amidst an 189 percent increase in online shopping. With the stock market near record highs, worries about China trade diminishing, shoppers expressed their optimism by purchasing gifts for others,..
Slept Through It?
The financial world is moving so quickly these days that you might have slept through the latest market shock. Remember the story of the little boy who cried wolf? After a while, no one believed him. They stopped responding to his cries. And then the real wolf came and devoured him. Now, change the wolf..
Secure Act Changes IRA Rules
In its year-end rush to pass a bill that funds the government, Congress included a significant revision of the rules that apply to company 401(k) plans and individual retirement accounts. Some of the provisions of the SECURE Act will make it easier for employers to offer retirement plans at work, as well as increase contribution..
Bored Today? Do this!
This year, the mid-week holidays create a nice opportunity to take some time off and focus on your finances. Instead of wasting that time watching Netflix, here are a few ideas to jumpstart your finances in the New Year. —Figure out what’s inside your 401(k). It’s easy to check your account balance online, and this..
New W-4 — What For?
The federal government wants to make sure you pay your taxes in full and on time. So it has designed a new W-4 form to “help” you (and your employer) through the process. It should not come as a surprise that the new form is complicated and invasive, and it even requires an online app..
Give Yourself a Present This Holiday Season
If you’ve made your list and checked it twice, and done at least some of your shopping either online or in store, it’s time to take a calm moment and consider what present would be appropriate for you to give yourself this holiday season. Here are some suggestions: —The gift of a goal The best..
