Terry’s Columns

Terry Savage’s Archives

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

PAGE 18 of 23

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

Bye, Bye Boomers– Millennials Now The Target

January 30, 2018

Sorry, boomers, but the world of banking and insurance isn’t so interested in you anymore. You’re getting too old to buy insurance and too conservative with your investments. And your time horizons are too short to be very profitable to the investment world. The financial services industry is aiming at millennials now. Many millennials —..

529 Plans Even Better Now

January 24, 2018

It’s time to take another look at 529 College Savings plans. The recent tax bill creates some changes in the uses of 529 college savings plan – and may even make them more attractive from a tax point of view. You cannot deduct 529 contributions on your Federal tax return. But, with state income taxes..

Next Step in Tax Advice

January 10, 2018

Many of you are going to need help with your taxes. It’s not just about the last-minute things you did to maximize deductions in 2017. It’s about setting yourself up with the appropriate plans for 2018, when you’ll lose some deductions and gain others. Without those deductions next year, you might even have to make..

New Year, Clean Slate

December 25, 2017

No use looking back at mistakes made. You can’t undo them and must live with the consequences. But the New Year presents us with a clean slate, a chance to start over with better money habits and smarter decisions. Here are some practical things to consider. Accept the bull market. It IS a bull market,..

A Christmas (True) Fable

December 20, 2017

Tis the season to receive long, chatty messages tucked into holiday cards, describing the year's significant events for family members including the dog. But this year, I received one such missive by email, that I thought I would share with my readers, hoping to capture the pure joy of financial planning and self-discipline working out..

CollegeIllinois Closed To Investors

December 06, 2017

CollegeIllinois! — the state’s prepaid tuition plan — has closed and is no longer selling contracts. It’s the second time in recent years the program has been closed as it struggles to fill a $320 million gap between the money it has taken in on prepaid tuition contracts and the cost of the promised tuition...

Talk Money with Family Over the Holidays

December 05, 2017

The holiday season is time for families to get together and celebrate. But it’s worth stepping back from the festivities to consider whether all generations are prepared for both the inevitable and the unexpected. Read It Here

Holiday Gifts that Teach Kids about Money

November 28, 2017

Every year at this time, I write a column about gifts that teach children about money. While the latest toys, dolls and electronics may capture their brief attention spans, the gifts described below will provide far more meaning in the long run. Read It Here

Scholarship Search Time

November 21, 2017

Set aside some time in the holiday season to search online for scholarships that can make all the difference in college affordability. High school sophomores and juniors should search, too. Read It Here

Can’t Afford Obamacare Plans?

November 17, 2017

Obamacare survived the political process. The big question is whether middle-income Americans can afford to buy a policy. And millions are saying they can’t. There’s a great irony in the health care system. Many Americans who qualify for a subsidy — individuals earning less than 400 percent of the poverty level (about $49,000) — get..

Small Biz Health Insurance Special

November 08, 2017

Small businesses – employing from 1 to no more than 50 people — now have a one-month opportunity to buy the very best group insurance available – at no cost to the business — and without participation requirements! Read It Here

Medicare Open Enrollment — Know This!

October 31, 2017

This is an an especially challenging time for seniors, who quickly learn that, while Medicare is a wonderful program, there are costly and significant decisions that must be made each year. For starters, you MUST review your Part D Prescription Drug Plan! Read It Here

Beware of Bonds!

October 24, 2017

If you’re worried about protecting your stock market profits, where can you hide? That’s the dilemma facing many investors who want less exposure to the stock market at this stage of their life, especially considering the incredible gains of the past ten years. Unfortunately, too many people have told me they are “hiding” from the..

The Next Bear Market

October 18, 2017

There will be another bear market. You can count on it. You just can’t know when it will start, or from what level. The other thing you can count on is that it will have a huge impact on your investments — and on your retirement plans. Read It Here

Estate Planning for Pets

October 15, 2017

Have you made plans for your pets in case you die before they do? Sadly, there are too many dogs and cats in shelters because their owners died and made no provisions for their care. This is not just a topic for the elderly to think about. Young singles with pets could face the same..

Check Your Life Insurance — Before it Runs Out!

September 26, 2017

If you have a life policy that is intended to build cash value over time, and you haven’t had an insurance checkup in the past few years, it’s time to find out whether your policy will last as long as your life. Read It Here

FAFSA Time, Again

October 1st is the first day you can file your Free Application for Federal Student Aid for the school year 2018-2019 – to access more than $120 billion of Federal student aid, including work/study programs, grants, and scholarships. Don't procrastinate! Read It Here

Equifax Data Breach — What to Do!

September 09, 2017

Equifax knows you – even if you don’t know them. They are one of the three large credit bureaus that collect information on all your financial transactions. And now they've suffered a data breach that could affect nearly every adult American. What should you know; what should you do? Read It Here

Harvey Will Hurt

September 02, 2017

There’s no way to measure the pain and anguish Hurricane Harvey inflicted on Houston area residents, many of whom were uninsured, and many of whom lost a lifetime of memories that can’t be replaced by the insurance they have. But Harvey will also make a big dent in economic growth for the entire country and..

Retirement and the Single Woman

August 23, 2017

More women spend more time living alone. And that’s having a big impact on retirement planning. Read It Here

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