Ask Terry Archives

Hi Terry. I'm hoping you can help me make a decision. I'm currently making six figures at my current job. After home expense contributions(mortgage, bills, etc.), son's college fund, 4% 401(k) contribution at work with 4% match, 100% ROTH IRA contribution, and 8 months of emergency savings I still have roughly a few thousand left…

I am currently things about the way my 401 K is distributed. I have not touched it since my company set it up for me. Currently I have 30% in bonds, which I am getting told is way too much for someone my age. Fedelity is even telling me that is too much. I was…

I have a small pension from Sears and they have offered me a lump sum. I am 62 and planned to start receiving benefits at age 67 because the amount will double. What should I do? I don't think Sears will be around for very long. Thanks Barbara Gordon

i have a 401k worth 84000.00, should i leave it alone or look for other options (ira)?

Terry, What is your opinion of the companies offering identity theft protection for a monthly fee? What should I look for in choosing a reliable company?

Terry, I recently sold some real estate and need to know where to invest so I can supplement my social security and be able to live. I have somewhere between $600,000 to $800,000 to invest. Since I am no longer getting monthly income (besides ss) I want to able to live off the investment with…

I am 60, possibly retiring between 68 and 70. What is the best investment strategy now, for my 401k, do not wish to lose too much of the capital. How best to protect against a downturn in the market.

Soon to turn 65 and have term insurance enough for burial. Now getting mail saying universal life is better now. What's your thoughts on this, continue term insurance which is going up because of my age or universal life.

I just watched you on the news and you stated that paying the minimum will take 30 years to pay off. My minimum payment is quite large. Would it be better to transfer part of the debt to another card, then I can make larger payments? Or a personal loan to get this down? Thank…

Hello Terry, Thank your helpful advice on College 529 Savings. My question is: I am Illinois Resident and wold like to open 529 Savings account for my 3 yrs old daughter. I saw your article on Bright Start Vs. Bright Directions and like it very much! I would like to know your Opinion about BRIGHT…

Due to the Equifax data breach, my husband and I have received our credits reports and placed fraud alerts. However, could you explain the pros and cons of a credit freeze? Are there charges to apply a freeze and charges to remove a freeze in Illinois? We are not applying for loans or credit cards…

Unable to find your promised personal organizer form to download????

Hello Terry, I am a mother of a 3yr old going 4 on 11/02/17. I live on Paycheck-to-Paycheck but still wants to save and invest in the Stocks and Bonds for better future Financial Security for myself and daughter. I don't know Where and How to start. Sometimes, it is very intimidating and embarrassing to…

My father recently died and had a life insurance policy for my brothers and myself. We've received the checks from the insurance company and I don't really want to park it in my savings account. Is there any thing out there that I could put it in that I wouldn't take a tax hit, down…

Ron Surz recommends a 10 percent exposure to stocks in the period 5 years before and after retirement. What does he say for the 5 years after going forward?

I am moving to France in a few weeks. I will be moving my savngs from my U.S. bank checking account to a French bank soon. Is there a way to exchange US Dollars into Euros with less fees than banks would charge?

I just retired on the 18th. I have a good sum of money in my 457. They have some good funds and don't charge a bunch of money. I also have a pension so I'm not relying on this money to live on. Should I leave in in the ICMA RC or put it in…

Terry, With your help 10 years ago, I was able to move $140,000 from a traditional IRA to a Roth IRA. The taxes were paid using an adoption tax credit. My wife and I adopted twins from Russia. 10 years later my AGI has grown above the savers and earned income tax credit range. I’m…

Hi Terry – my son went to a private university for two years and had wanted to be a physics major. We interviewed the head of the physics department Who completely misrepresented what the school had to offer. He told us what a thriving department physics was at this university and how much hands-on time…

"Since there is no special taxation benefit for dividends on stocks these days, it really doesn’t matter how the money in the plan is generated." Terry: I take issue with your answer. In you are in the two lowest tax brackets (10%, 15%), then dividends (and capital gains) are taxed at zero. That is a…