Ask Terry Questions An INCREDIBLE Success Story! Please read this!

An INCREDIBLE Success Story! Please read this!

By Terry Savage on October 22, 2023 | Wild Card

I hear you all the time on John’s show. I’m now 59 years old, retired teacher. Should I be listening to the Medicare discussions, or will it all change by the time I’m eligible? (btw…I text that question every time you’re on, but John doesn’t read it 🙁 ).
On another note, WAY back when you first started on Channel 5 (late 70’s/early 80’s?), you were encouraging saving. I took $5 a paycheck (bi-weekly) and put it in a savings account that earned a whopping 5%. I worked through college…$5 a paycheck (bi-weekly). Starting teaching in 1986 and made it $10 bi-weekly, then $25 bi-weekly, etc. Eventually started an IRA…fast forward…I retired in 2019 with $400,000 in it, and starting converting to Roth. As of today, I have $271,000 in the IRA and $259,000 in Roth (conversions and contributions). I would convert it all to Roth before the tax rates go up in 2026, but my fiduciary says to stay in and max my current tax bracket. (By the way, don’t worry that I’m retired. My pension is more than enough to last me to 73 and have to take RMD’s.) THANK YOU. I was just a kid at the time, but listened to you say “save something” way back when. I’m proof…it works.

Terry Says

OMG — you made my day! Hope all my readers check this post. Time IS Money, for sure. Congratulations!

And re Medicare, that comes under the heading of: “I’ll think about it tomorrow!”



a personal
finance question