Ask Terry Archives

I've been retired from USPS now going I to my 3rd year. I have 243,816.00 in my TSP. I withdraw $860 each month from my TSP and I have them take $200 for federal taxes. I receive $825 from my postal RETIREMENT based on my 26 yrs,10 months and 5 days. My Social Security is$1448…

My daughter is looking at investments and retirement. She is 30 years old and has a municipal position with a vested pension plan. She is looking at doing some of her own additional investments. She is being told to do Deferred Compensation instead of a 401k, Vanguard or Roth. What is your recommendation for her…

Hi, Terry. I have a Roth IRA with Vanguard worth around 19k, a rollover IRA with TR Price - $89k. I'm 68, retired with a CPS pension and I want to safeguard my funds and am thinking of moving some or all to possible CDs. Can I do that and keep them in an IRA?…

I've had a $28k universal life policy for 30 years. For the past couple years I've had to pay up to $500/year to continue coverage. There's no cash value and policy matures in 2051. I'm 66, retired, no debt, with pension, stock portfolio and 457 plan. My wife is still working and I'm hoping to…

I plan to retire in the next 3-4 years and do not have as much in my 401K plan as I liked. I would like to have an annual income of about 75-80K per year. I plan to draw about 5500/month from my pension before taxes, Any advice ?

No doubt anyone over 65 will recognize Pogo, and needs to be concerned about the cost of prescription medications. My doctor points out, prior to the inception of Obamacare the drug industry lobbyists spent in excess of $200,000 per congressman to encourage the development of a needlessly complex and inefficient system. For all they can’t…

I read your article in the Tribune today. I own a company and am on Medicare. My only employee is my wife and I have been told that we cannot get a corporate health insurance plan because she is my wife and that we need another employee in order to obtain coverage. Is that correct…

A contact was made to a plan at www.eHealthInsurance.com as noted in your 11/13/17 article in Chicago Tribune regarding special small business plan enrollment 11/15 to 12/15. The response was that the plan was not available unless you have 2 employees, not just 1 as your article states.

Hello, Terry! I am a fan and just bought your book, "The Savage Truth on Money". My husband and I are recently retired and have about two million in retirement investments. Our financial planner with Benjamin Edwards has looked at all our accounts and is recommending that I move my 401K from my former employer…

So I want to open a savings account for my kids. I was looking online and noticed a difference in interest rates available. The plan is to just deposit money from birthdays and holidays that the kids receive. And as our sons earn money teaching to put into their savings too. So considering current interest…

My husband initially requested a withdrawal in May from a company and they keep stalling on payment. All paperwork was correctly submitted - numerous times, but they always seem to need one thing or another again and again. And usually only after we call to check on progress. Is there an agency that we can…

May I receive the download of the free personal financial organizer?

Loved your article on the risks involved and reasons “bonds” are not always safe. My CFP has 30% of my portfolio in a 10 year corporate bond ladder (no junk bonds) that yields on average 3.5 %. His plan is to hold each one to maturity and then replace them with another bond 10 years…

Hi, I am 69 1/2 and have a self managed Roth ira in a Charles Schwab account and would like to buy a few cryptocurrencies. I've tried to buy them with my Schwab but not able to.

How can a bond gain 6% interest but lose on its principle?

Good afternoon, I need help managing my debt (don't we all). So here is the issue. My husband and I, mostly I have racked up credit card debt in access of $40K. Since my minimums are so high, it is hard to manage the payments and have any money left for necessities such as groceries…

Are annuities good? What about online banks (Discover) v branch banking (chase) for CD 10K and over?

Found an old ATT stock certificate issued 1962. How do I find out the current value of these shares? Thank you

I READ YOUR MESSAGE ABOUT PLAN D. I RECEIVED MY MEDICARE CARD IN MAIL AND IT STARTS DEC 1 2017. I CURRENTLY DO NOT TAKE ANY DRUGS, SO I DO NOT KNOW WHICH PLAN D I SHOULD GET, ANY SUGGESTIONS?

Joint check ing ,, savings accounts with adult child. This child in huge credit card .debt with her husband. Can her debtors go after my accounts which is my sole retirement income?