Ask Terry Archives

We are currently with a bank and previously were with Schwab. We are thinking of changing. Can you share a number to call for T Rowe Price and Vanguard. Can't find a number in the Chicago north suburban area. Thank you.

Hi, Trying to get info as to what is needed to apply for a reverse mortgage. I'm 68,single and about 5 years ago moved into my moms old house when she was moved into an long term assisted living facility. I am power of attorney for both medical and financial for her and her assests(which…

Several weeks ago, you had a very thorough column on 529 accounts. Where can I find a copy of that column? Thank you.

How much life insurance should our son have? He is 35 years old, married, and has one child. He earns $75,000 per year. An advisor has told him that he needs $1 million in term insurance at a cost of $800 per year (from AIG). This seems like too much insurance to me. I would…

I'm 66 yrs old and in good health. how do u decide if it s better to take pension as lump sum or monthly annuity? I'm eligible for social security as well and have money in 403 b plan and some savings in Stock investments. Investor lean toward lump sum that may benefit them. Any…

Hi Terry, Last year my husband of 30 years filed for divorce. My Husband became upset with me and cancelled/removed me only from our "several" Personal and Business credits cards(we own a business jointly 50/50). He got upset with me because I would not respond to his several emails and text messages while I was…

My 16 year old would like to start investing in stocks. What is the best way for him to begin investing?

I currently owe $160,00 on my condo. I am 64 this year. I earn 50-60k in a job that I am not limited by age. My 401k has approx. $140,00. At this point, I am tired of working, but do not want to be a bag lady or a cat-food retiree. Is it silly to…

my husband and i are in our early 50's and neither of us are in stellar health, he has diabetes and I have a other health issues. He really wants to buy a mobile home, but in our area, so few are truly cheap, (i.e. under $80,000). I'm nervous about buying, as his health isn't…

In May 2013, I gave Merrill Lynch an IRA worth $103,000. The VP/Senior Financial Advisor on the account was a personal friend of mine. 44 months later, I closed the account and transferred the total $103,070 to Morgan Stanley. During this 44 month period, the Dow Ind. Average increased by about 33%. An investment in…

Terry, I am trying to get a copy of the above form, but haven't been able to sign up to receive a copy. Can you help me? Thank you, Barbara Stinson

I'M 74 yrs. old,and was wondering if a reverse mort. is a good thing? My home is paid for and have no pmts. on it. My wife is 54 yrs.

Hello Terry, I am retired and would be interested in working from home. Internet business seems like the way to go but how do know who I can trust? I enjoy working on the computer so something that requires that would suit me fine. Would you have any suggestions?

I would like copy of personal financial organizer

Terry, My mom recently passed way and left us kids about 60K each. I am 50 years old and would like to invest this money for my retirement and try to catch up. Right now I have 75K in an IR roth and about 50K cash on hand. How can I make this money work…

Hi Terry, I've enjoyed your column very much over the years. I was pleasantly surprised this week when I read your column about your personal experience with your dad's reverse mortgage. I'm so glad it helped your dad live in his home until 95! I am a reverse mortgage consultant, and have a few comments…

Hi Terry We are trying to get my mother-in-law into a Chgo nursing home. She is 94, has alzheimer's, legally blind, deaf, chronic pain. She has no life insurance, no savings. Gets only SSI and a small VA pensions based on my father-in-laws military service. We have been paying caregivers 24/7 for the last 12…

My broker has suggested that I agree to a new fee process wherein I would pay an annual percentage of my IRA balance instead of commissions on individual trades and she would be authorized to use her discretion in making trades, without my authorization. She has sent to me a brochure about the new rule…

My daughter and her new husband are getting ready to look for a home. Awhile ago I heard you on WGN talking about money for first time home buyers who bought in certain areas. Money was available until it ran out. Has it run out? Is the program still available? If so, where can we…

Interested in a consolidation loan, about $3000 of debt, and my credit is less than perfect. Small amount of student loan outstanding. Best course of action?