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.
Exchange Traded Funds
Exchange-traded funds are far outpacing traditional mutual funds in gathering assets. Last year, more than $280 billion of new investor money flowed into ETFs, a record. Read It Here
Healthcare Expenses and Taxes
In the past few years, the costs and regulations around health insurance have become inextricably entwined with federal income taxes. Leaving all the political debate aside, the Affordable Care Act impacts the tax returns of millions of Americans. Read It Here
Avoid Medicare Signup Mistakes
If you aren’t careful about the timing of your Medicare enrollment, you could make a very costly mistake – one that will cost you for the rest of your life. Read It Here
Compare College Financial Aid Offers
College acceptance letters are arriving now – and with them the financial aid offers that can make or break a college dream. Read It Here
America’s Debt Reckoning is Coming Soon
Once upon a time, the United States was the wealthiest and most generous nation in the world — rebuilding countries after wars, supplying aid in natural disasters, and supporting allies and emerging democracies. We did all this and also built roads and airports at home. We are still the wealthiest and most generous nation in..
Investment Fee Price War is Your Opportunity
The investment industry is in the midst of a price war that will cut costs for everyone from individual investors to sophisticated hedge fund participants. That’s great news for investors. Read It Here
Buried in Debt . . . Again?
You would think Americans had learned their lesson about borrowing, but debt levels are creeping up again. That isn’t a worry when the economy is strong, unemployment is down and confidence is high. But if — and when — the next recession occurs, the consequences could be even more devastating than the last go-round. This..
How to Refinance Student Loan Debt
Americans now owe more on student loan debt than on credit card debt. And they’re getting smarter about dealing with that debt to save a fortune in interest over the life of the loan. Read It Here
Fiduciary Rule Dies; Your Retirement in Danger
The Fiduciary Rule won't go into effect in April as scheduled. That opens the door for high-pressure salespeople to peddle inappropriate and cost-heavy products that could devastate your retirement account as you roll that hard-earned money from a company plan into an IRA. Read It Here
Identity Theft Takes a New Turn
If you think your finances are safer now that you use a chip card, think again. The latest Javelin Identity Fraud Study reports the number of identity fraud victims increased by 16 percent in 2016 to more than 15 million consumers. Read It Here
Pet Health Insurance
If you consider your dog or cat to be a member of the family, you are not a pet owner. You are a “pet parent.” And that can expose you to some very expensive medical bills. Read It Here
Trump’s Economy: Is Less Regulation Better?
On Feb. 3 Trump also signed a presidential memorandum instructing the Labor secretary to evaluate a specific regulation placed on financial advisers. Known as the fiduciary rule, it requires brokers in charge of retirement plans to act in their clients best interest. The rule is set to take effect on April 10, but that may..
The Super Bowl of Taxes
Football is a big-money game, and its highest-stakes event, the Super Bowl, is about to take center stage. The winning athletes will earn an extra fortune --but the "jock tax" means that NFL players typically must file returns in 10 to 12 taxing jurisdictions, including local cities. There are some tax lessons here for all..
Boomers Need Smartphones
If the very word "fintech" makes you flinch, you may be a baby boomer who has sworn off most "modern" money technologies. You're not alone. A 2016 Federal Reserve study found that only 18 percent of those over the age of 60 use mobile banking services (vs. 67 percent between the ages of 18 to..
Naming a Beneficiary
Someone is going to get your money when you die. Do you know who that will be? What a shame if the money you worked so hard to accumulate over a lifetime were to go to the tax collector, or your ex-spouse, or a relative you haven’t spoken to in years. Read It Here
Patience is an Investing Virtue
While economists and stock gurus spend this month making forecasts, ordinary investors are faced with the challenge of figuring out how to allocate their 40l(k), IRA, and other retirement accounts. To do that well, you don’t need a crystal ball to forecast either economic growth or market results. What you do need is . ...
Coming Pension Defaults
For millions of union workers, part of the attraction of paying union dues over a lifetime of work was the promise of a lifetime a pension. Now, as a result of years of mismanagement, bad investments, or bad assumptions on returns, some funds are running out of money to keep their pension promises to union..
Don’t Make a Resolution — Make a PLAN!
Resolutions made at this time of year tend to have lofty goals: lose weight, stop smoking, get out of debt. And while these goals are certainly worthy, it’s an old Savage Truth that a goal without a plan is just a dream! Read It Here
Now’s The Time to Create Your Budget
Making a budget is likely at the bottom of your “to do” list at this time of year, but when is a better time to do it? Now you can look back at all of your spending — and overspending. And it’s the perfect time to plan for the year ahead. Here are three easy..
Best Gift — 529 College Savings Plan
The best gift of all is a good education. So consider opening a 529 College Savings plan account for your children or grandchildren. Read It Here
