Ask Terry Archives
Can I do anything to increase Social Security Payments at Age 67?
I was forced by circumstance to accept Social Security at age 62 because I couldn't work at the time because of a knee injury. (I never applied for SS Disability or Medicaid) Now that I am physically able to work again, could I maybe suspend Social Security a couple of years, work, and add to…
Health insurance & Medicare
If I have health insurance with my employer as part of my retirement package, why must I sign up for Medicare part B?
IRA Year Mistake
I made an IRA contribution in January of 2016 for my 2015 taxes, but it was coded as a current year investment. I filed my 2015 taxes with that amount and wanted to do new IRA's for my wife and me this year 2018, for 2017 taxes and cannot. What do I do?
Can a senior live on only Social Security?
I live in a board and care right now but am applying to senior apts who just take 30% of your income. By question is how do I live on only $900.00 a month that I will be getting from social security and SSI disability paments that I receive monthy. It seems impossible but I…
Stock valuation of old shares
I have 10 shares of AT&T Corp stock dated December 23, 1997. How much is that worth?
2017 Medical Expense Deduction
Not a question - a statement. Your column in the April 9 edition of The Denver Post w/regard to the 2017 medical expense deduction states that for those over age 65 the deduction begins when medical expenses are over 7.5 percent of adjusted gross income. This is no longer the case. Per IRS website, the…
Social Security Number and Identity Theft
Financial Advice in Retirement years
I am retired and so far very blessed to own rental properties. However I am looking for Financial advise on how to protect my savings from losses in the market and where can I best protect that savings and yet get some growth to keep up with inflation. I have read your column in the…
How do I choose a Medicare supplement?
Medical deduction for cost of Long Term Care/Nursing facility for Alzheimer’s patient
I'm trying to help my sister-in-law with her tax return. Her husband was diagnosed over a year ago with early onset Alzheimer's/dementia. It was necessary for him to move to a long term care/nursing facility in November as she could no longer care for him. They pay the monthly fee in full. My question is,is…
College expenses as a deduction
Changing IRA funds.
I am age 62 and have $100,000, in an IRA of all American Funds (100% stock market) at Ameriprise. I want to lower my risk and transfer the money to Vanguard in a balanced fund. I was considering splitting it between the Wellington and the Wellesley. Can you recommend a balanced fund at Vanguard? Thank…
Help with investing
Today I heard you on WGN saying we should not pay financial advisors, go fee based if we have to. Sadly many of us don't even know where to begin like myself. I found a fee based one from your recommended site but other than that how does the average person go about moving money…
credit card debt
STUDENT LOANS Phishing Scam?
received inquiry from American Education Services holder of SunTrust student loans requesting proof by submitting copies of identification because information they have may on birth date may not be accurate. Do not feel comfortable sending copy of birth certificate, passport, ID, license, OR IS THIS MANDATORY. Would prefer a phone call to them, nothing over…
Nanny needs taxable income to get Obamacare insurance
I am a full time nanny and have to do my taxes soon. The family I nanny for isn't claiming anything and I technically don't have to file BUT they pay me in checks which is traceable. I do have Obamacare as well. Do I still have to file even if the family isn't claiming…
Tribune article 3/20/17
I'm one of the thousands of United Airline employees whose pensions were turned over to the PBGC. What a shock to read your article today. I'll be 60 this year and was planning to retire at 66.6 (to get my full Social Security). After reading about the PBGC AND Social Security I don't think I…
Really — How do I find a Financial Planner? Will YOU do it??
How does one find a reputable Financial Planner and Investor to educate and set us up for retirement? Do you or your offices provide such services? Respectfully, Tina
Federal debt — Can the government pay its bills?
Can the federal government run short of dollars, and be unable to pay its bills?
Savings account — best rates
Hi Terry, I have some (chicken) money I would like to put away in a savings account for safe keeping but still be able to have access if needed. Would the American Express online savings be a good choice? Or do you have any other recommendations? Thanks
