Ask Terry Archives

I just transferred my IRA (~45,000) to a bank giving interest increases yearly. First year 2%, then 2-1/2, 3 and 3-1/2 on the 4th year. Penalty is 6 month's interest if closed. I can take money out on the anniversary date each year. I'm 76 and know this is a long commitment. I'm widowed and…

Husband and I still working he is 56.I am 60 what can we invest in for growth . we do not need the money want to leave to children..youngest 30.put into reit real estate,pharmacy,health care. Want companies with diversity,solud foundation

Please send me a copy of the financial organizer

Can you please let me know the title and author of the book about elderly abuse you mentioned during this morning's interview. I would like to read it. Thanks.

Currently I have an annuity of $41,000 - the brunt of which is invested with the S&P500 earning just 2% - So, if the S&P goes up I make money, if it goes down I do not lose anything but neither do I earn money. One year I did not earn anything, the next year…

I have approximately $26K in an account that I would like to cash out. I am over 59 1/2 years of age. I want to apply $15K towards credit card debt, and the remaining spread out towards principal on a Mortgage to pay off sooner. Will I be charged for premature distribution?

I am 63 years old, I have been informed by a former employer that I can take a lump sum, or a monthly payments, or do nothing. I feel that this company will not be around in the coming years before I can retire. If I take a lump sum from this plan, do I…

What is the difference in return and tax consequences between individual muni bonds and a muni bond fund?

Whats return on 1000 dollars invested for six months on a gov treasury bill?at todays rate?

Hi Terry, I currently have a variable annuity. The sub-account's value is about $670,000. I have about five and a half years before I will turn on the income stream. At that time the step-up value will be $1,000,000. I'm contemplating converting this to a Roth. I'm estimating that the tax hit will be about…

Do mananged funds, given a fee is involved, do as well as index funds? Thank you, Terry.

Are fixed annuities good a product?

If I withdraw mutual fund assets from my Roth IRA and transfer them to a taxable brokerage account, how do I determine the tax basis in case I need to sell the funds at a later time?

What bank gives the best rates for money market checking account?

Dear Terry, I am an occasional listener of the business lunch on WGN and I visit the site sometimes for advice. I'm in my late 30's and my wife is in her early 30's. We own a home with a mortgage over 170+. We both have our typical credit card debts and a rather large…

If I purchase a two-family home with my adult son and we are both on the deed and he occupies one unit and I occupy the other and we file separate tax returns then can each of us deduct up to $10,000 in property taxes if the total property taxes owed on the 2-family house…

Good Morning Terry. I enjoy your segments on WGN morning news. Can you share what the major differences between a 529Plan vs an education IRA? Would you recommend one over the other? Thank you! Jenny Patzelt

Terry, I check your site every day and love your advice and guidance, but, I wanted to follow up on a question that was asked a couple of weeks ago regarding the HELOC loans that existed before 2018. I have one that I have used for one of my children's college loans and now carries…

I am 68 and have move 403 B to Naval Federal Credit Union in 2017. Is it advantageous to move to another FDIC entity prior to 70? I am hoping to be able to secure a higher rate at a FDIC higher than .025. I enjoy reading your insight over the years. Thanks, Tom