Ask Terry Archives

As a investment adviser, are you a fiduciary? This question occurs to me because of your column advocating 401(k) products. 401(k) products were not originally intended to replace pensions, but to supplement them. They are NOT what Congress provides for themselves. They are optional, often not elected, frequently borrowed from by workers, require expertise most…

Would it be wise to invest in a total stock market index fund, S&P 500 Index Fund, and a NASDAQ index fund, or is there too much overlap, and therefore it would be wiser to invest in just one of them, and if so, which one?

How do I find it?

I am sorry I just turned on my radio at the end -- were you offering a list of things to do re a will? I would like that - - I am in the process of doing my will etc - I am a senior and have been procrastinating too long. Where can I…

Hi Terry... My husband and I are a financial mess. We are both horrible money managers and have somewhat of a toxic relationship with money. Right now I need to file for bankruptcy, I have student loans that are in jeopardy of defaulting and my husband has a 20k IRS problem that followed him from…

Dear Ms Savage; I enjoy reading your column each week in the Denver Post. Why do almost all articles and analysis of the question “when to take social security” focus on the breakeven point or the lifetime benefits collected, and not include an analysis of NPV (net present value) or the time value of money?…

My father had a stroke 2 years ago. He needs help with daily living activities I was laid off work. I'm his full time caregiver he has a long term disability insurance. Can I get a ling term car insurance that would pay the caregiver to care for him?

i invested my pension and mutual fund when I worked for the Chicago public schools back in 97 I invested in it with Charles Schwab I then invested my inheritance from my parents when they passed into Pacific life mutual fund with fifth third I currently work for the CTA I have a 457since 1999…

My mom has dementia and is currently in hospice care, not necessarily end of life, but making her comfortable, and it helps us with the depends and bed, et cetera. She has two large credit card bills, Sears and One Main, $8260 and $5219. She owes $7818 on her house. I don't believe the house…

The company I work for has an investment plan, sort of. They don't put anything into it, they just have a company that sells us mutual funds, the money is taken off the top and is put into a SEP IRA. The nice thing is that the money is taken before I get my check,…

Balance transfer cards vs consolidate credit cards, suggestions for best company Thank you LB

Good afternoon Terry, I am a CFP professional in the Plainfield, IL. area. I was recently contacted by an individual interested in rolling over her 401(k) because she listens to your radio segment and said this was your recommendation. As an independent advisor, I can offer this client a Vanguard managed portfolio for a total…

I need help finding an attorney who specializes in estate planning. I am single and have no family. Its very important that I make my final arrangements with someone that I can trust.

Hi Terry. My husband and I purchased 8 semesters of college for our first daughter through the College Illinois program, roughly 14 years ago. Since then, we could afford to purchase only 2 semesters of College Illinois for our second daughter. We just sold a piece of property and plan to apply the proceeds to…

Please clarify to me and your viewers: From a ROTH IRA, one can withdraw up to the total of initial investment at any time. Thank you

I have a account that about to go to court. Should I file for brankrupty, because several attorney have contact me or should I attempt to contact the company and try to make arraignment. but I don't have any disposal income

As a lender, we are subjected to using the appraisal company assigned. Our appraisal was ordered on March 29, completed on April 4, with a due date of April 7. On April 7, the representative of the appraisal company emailed saying the appraisal would be delivered on April 10. During this delay, the appraisal rep…

is this program for real

I am a 63 yr old woman, retired, thinking about purchasing long term care insurance. I have been told it's very expensive. I remember you discussing this on WGN radio a while ago. I wish I had paid closer attention. Can you give me any tips when purchasing Longterm Care Insurance? Thank you, Terry

As part of a recent mass layoff, I have 60 days until my employment ends and my last pay check. I haven't received my figures yet, but I'm estimating lump sum severance to be $50K after taxes.It would be deposited to my bank account a few weeks after the term date. We are allowed to…