Ask Terry Archives

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?

Terry. . . not a question, just a comment. In today's column in the San Diego UT, you didn't mention the possibility of establishing 529s for yet-unborn babies. Several years ago, I set up 529 accounts for my four grandchildren and soon will be setting up 8 accounts for yet-unborn great-grandchildren, anticipating two greats per…

I have $ 57,000 sitting in a Money Market after selling my home.I was looking at Knowles System who are involved in Bridge Loans and giving 6% monthly and guarantees your principal back when you decide to end the 12 ,18, 24 month contract.Actually even higher interest % above a 12 month contract.I know your…

Hi Terry. My 16 year old son just spilled, unknowingly, all about his investments in bit coins. I listened and let him tell me ALL about it. He has gone to try to find bit coin machines(we live in oak lawn and he got a friend to drive him to Mokena-ahhh jez, very far) and…

I read this post and wonder about what to ask internet banks regarding death of the CD holder and the obtaining of the money by the inheritors. I have a internet CD and the bank doesn't have a method to identify beneficiaries. They said the survivor has to go to court and get "letters." Doesn't…

I would like a copy of the Personal Financial Organizer form that you mentioned in your April 30, 2017 article. Thank you.

i am a 45yo that recently terminated 9 years employment from a small company that made contributions on my behalf in there employee profit sharing plan. They gave me my vested share of $28,000 and a 1099R. I want to use this money to buy a home. Is the plan administrator required to give me…

This is an answer, not a question: The one social security alternative I haven’t seen you mention is: If one signs up for social security on their full retirement age and continues working and paying into social security, they will continue to receive social security payments every month, and their benefit will continue to increase…

Can you talk about tax implications of rebalancing . Last time I rebalanced I got whacked hard with income taxes. Therefore very reluctant to do this on a regular basis. I get the 401k/IRA part. No tax impact. But the plain old investment account gets crushed by the IRS upon rebalance. Any tips?

where on your website is the Personal Financial Organizer mentioned in your column in the April 30 2017 Hartford Courant