Ask Terry Archives

I have, in the past, added the taxes I have paid to my original cost basis. I have a self directed Merrill Edge account which automatically reinvests my dividends. Do I still add the taxes paid to the currant value associated with the cost basis?

Do you really need one and if so can you tell me good ones to choose from and what to stay away from. I don't want to get scammed . I will be 65 in August and all this is haunting me.

I have read your response to a reader that said paying 2 percent on a managed account is way too much. My question is, is 1 percent also too much? We currently have funds in managed accounts. When I have asked our broker about the monthly fees, he has reported that even with the fees,…

Don't know if you can answer this. . I am 70 yo. .I have a FHA mortgage of $109000. I would like to put my 2 adult sons on my house so it is automatically theirs when I die. .I am donating my body to science. No funeral expense. .$12000 life ins for repairs on…

I see questions about whether or not to work with a "financial adviser" being asked all the time. My "learned the hard way" advise: DON'T! If you absolutely want to spend your money on "advise" go FEE ONLY. Most of the "financial advisers" working for/with Financial Firms are merely Sales Agents! Do some homework. Stay…

How can the athomeillinois program be helpful to a first time home buyer having trouble coming up with a down payment?

HI Terry, My name is Francisco and I have a question about a savings bond I have that I got from my local Institution/bank a few years ago. The amount I got was not much, as the value I got or paid for was only $50. What I would like to ask is what do…

elderly father lost all his retirement savings when market crashed. Can he recover any of it?

A few months ago I heard you talking about a bank giving free money to home buyers because of something they did is there still any of that money out there and who would I contact

I have some money that I want to invest in a total stock market fund, should I wait to see if the market goes down before investing or dollar cost average in

I am self employed and would like to put $ in an IRA for 4 years, for tax purposes. Where can I get the best, secure interest rate?

I'm on a Sallie Mae loan w/ my daughter, and she requested, and received forbearance on our loan for 2 months. When I called for clarification, the lady at Sallie Mae told me forbearance will be reported to the big 3, just as a payment or non-payment would be. Is there any way (short of…

My wife & I putting 100 each in a roth. I put 500 a month in my work 401. putting away 750 a month in savings. 75,000+ in savings. No credit debt. How would you rate our progress for retirement? hopefully in 11-12 yrs.

Hi Terry, Last week I was listening to WGN radio on in the afternoon. You were discussing investments and that you had a favorite investor newsletter that was well worth the money to subscribe. I was in the car and was not able to write his name down . Would you possible know which one…

is your website safe enough to disclose my 401k total to ask you specific regarding retirement?

I have 4 children, ages 10, 7, 7, 7. Both my husband and I are in our late 40's and we need to set up college funds for our children. We currently have a savings account for each, which only has approx $1000 or so for each, the oldest with a bit more. My parents…

Terry - I am a local canine massage therapist and do marketing work with a local veterinarian (Oak Park Animal Hospital). I loved your 2-13 article on pet insurance and am wondering whether we can link the vet's Facebook page and / or our websites to this article (obviously with full attribution to you). Please…

We have saved for retirement and are now in our sixties. While we have chosen investments ourselves over the years, somewhat haphazardly but with reasonable success, we are now thinking we would like to have assistance diversifying and investing our money. What are your thoughts on active versus passive management at the present time? We…

When I retire where should I put my 401k ? I will need to withdraw some money annualy

I had a 401k and rolled it over to IRA when I left that employer. If I want to convert some traditional IRA's to Roth will this older Rollover IRA count count in the conversion calculations?