Ask Terry Archives

I have recently received a notice from the Department of the Treasury that they believe another person used my social security number (SSN) to obtain employment. They sent this notice to make me aware of this incident so that I can take appropriate steps to protect myself from any potential effects of identity theft. They'll…

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

Terry you helped us before with Irs trying to collect 13,000 on our home equity payment. We won thanks for your help -anyway we are doing good now. So now we have 50,000 to invest or pay toward out morage(we owe 120,00 at 3.25 rate VA) which move would be better? Thank Much Jim

I am being advised to put all my retirement funds in the Nationwide New Heights 12 yr uncapped index annuity using the Mozaic and Zebra indexes to gain market potential without risk. Yea or nay and why? Thank you

Hi Terry, For the past several weeks I have not found your Sunday column in the business section of the Tampa Bay (formerly St. Petersburg) Times. Has your column been moved to your knowledge, or does the Times no longer publish you. I am sorely disappointed every Sunday that I cannot find and learn from…

Where do I find those forms you had on your website to complete for our spouses and children with all financial information to make it easier for them in case of a death?

We have $1,800,000 in retirement savings. We have no debt. We could take lump sum payments on our pensions that would equal $700,000 or monthly payments that would equal $49,000 annually. My wife is retired and I will work another 4 or 5 years. We are both in good health. Is there a "better" way…

Typically I receive a bi-weekly check, which is naturally taxed. And from the net income I'm able to contribute some into a basic IRA. However, whenever I will receive a distribution I'm taxed again. Double tax the way I interpret. Is it the age of 70-1/2, for no more taxes to be paid on a…

What should I be careful of when looking for long term care insurance. I'm 70 years old.

hi, i have the register app debits and credits . its ok but i feel that there are plenty of better ones. do you know of any and what do you recommend.

How can I get in touch with the Debt Council for Seniors & Disabled? Your article that I read (perhaps on Huffington Post) referred to a website at "debtcouncil.net" which is inactive. Thanks for your help.

what are the qualiforcations forsenior taxexemption

Do you recommended the Illinois plan

Hi Terry, I'm confused by your recent answer to the question whether I Bonds are good inflation protection. You said to avoid them because there was a change to the interest calculation. What changed? I can find no reference to any changes other than the usual twice-yearly setting of fixed and variable rate components. Thanks.

How do financial advisors make money on accounts, and how much?

Hello Terry, I am here in USA on a work visa (H1) and am waiting for my (and for my daughter's) green-card to arrive, which will take several more years. I have a sodaughtern (who is my dependent and hence on H4 visa) who is a Cupertino Middle School,California. I have stayed in California state…

Has it been passed into law that the standard deduction on the IRS form will be doubled for the 2018 tax year?

I worked for a company with an Employee Stock Purchase Program. I have since left the employ of said company and it seems I must liquidate or transfer the stock I own. I was hoping to transfer the stocks (instead of liquidate) into a ROTH IRA I had previously created several years ago. I am…

Dear Terry, I've read that iBonds from the US Treasury are a great investment because they automatically adjust for inflation.Is this true,and what do you think about them? Thank you for your advice through the years!

Hello Terry. Actually, I have 2 questions. Question #1: I don't think I've heard anything about the standard deduction of $24,000 married filing jointly and home interest rates. For example, a couple could buy a house and have $1,200 interest per month = $14,400 interest deduction per year. If they don't have too many other…