Ask Terry Archives

Hi Terry, I believe I've heard you talk about the DCSD, dept counsel for seniors and disabled, on WGN. I am a senior (69) living only on Soc Sec and run up 20K in credit card debt, due to circumstances since i lost my job in 2009. I own a townhome (live in NW Indiana).…

Hi Terry, An awkward but serious question... Like a lot of men, I have a collection of Playboy and Penthouse magazines. I do not want them anymore. I'm pretty sure (from visiting flea markets) that they are worth maybe 5-25 cents apiece. Not worth the effort in trying to sell them. I would love to…

I would like to set up accounts for each of my two children to help them with their retirements (unthinkable to them at age 25). Any suggestions? Thank you!

I would like a recommendation of a service to help me get my credit card debt in line. Right now I have quite a few Credit card bills. I heard a commercial on the radio of a company that helps you settle with credit card companies a certain payback but not necessarily the whole amount.…

Could you please explain the DOL fiduciary ruling which will take place next April? Our financial investor, Edward Jones, suggested (or should I say subtly recommended) we look elsewhere to put our investments. I am confused. I have about $2,000 in cash in my IRA to invest & he told me to look online. What…

Financial adviser cites 1.25% cost of my portfolio yearly minimum expense to manage my finances. At present, with my estimate, over 20 yrs that comes to over $120 K. Pretty steep but I do not understand tax gains, best way to invest at age 67 with retirement MAYBE 2-3 yrs ? How do I find…

With the dollar strong against the Euro, I was wondering, since we're taking a European river cruise next Aug., is it wise to buy Euros now or wait until next year.

I am a 46yr. old man with a credit score of 0. How should I start going about earning credit?

I saw this article and wondered is this good advise to not get supplemental insurance? Thank you. Medicare Supplemental Policies: Do You Need One?  09/16/2013 03:22 pm ET | Updated Nov 16, 2013 David Belk, Board Certified in Internal Medicine If you’re on Medicare or about to receive Medicare you might be wondering: “should…

I read your column The Savage Truth in my local newspaper about a little-known quirk that allows small businesses a chance to offer employees a job-based plan even if only for 1 employee. What defines a small business in this context? Are there expenses to the business to set up a plan? Where can I…

I am confused on HAMP and HARP I would like to refinance my home mortgage, I have not missed any payments, I am paying 5 1/2 monthly payment is too high for me .I did call Hamp and Harp I am confused which one is the best for me to call.? and do you have…

My wife and I have a large amount of debt with high interest rates. We've done money management debt consolidation before. Should we go the same route or is there anything else we can do to consolidate without ruining what's left of our below average credit?

My husband and I have a revocable trust established in 1997. I have been advised by an attorney that given that the trust is almost 20 years old and that the tax laws have changed, that it would be in our best interest to have it brought up-to-date. The attorney who drew the trust up…

Hi Terry I am nearly 66 and considering taking my SS now. I would like some advice on the wisdom of taking it now versus 70. I will work into my 70s. i also would like some basic advice about how best to invest SS if I take it now, plus paying off some other…

Hi Terry, My question is - is it better to have a credit card account closed due to inactivity or should I make a purchase and keep it open? I really don't need to keep it open, I won't be using it. Does this affect my credit score? Thanks!

Where can I find a Revocable Living Trust Form?

As I was going thru my mothers things I found and article written by you from June 1998 regarding coin collections. Can you give me an update? I have coins dating back to the 1800's. I also have lots of postage stamps (boxes!). I found a website titled, "I inherited a stamp collection, now what".…

I received a letter from my 401K that I have to use some of the money because of my age. I am still working and plan to work until 12/17. why would I have to cash it in and open another 401K? will I be penalized if I don't do it because of my age?

Good afternoon Terry! My father had turned me onto your show and I have since purchased and am in the middle of reading your book. My question is this, I have a TRowe Capital Appreciation Fund which I opened in 2009 which I feel has performed very well. My fiance is looking to invest in…

Hi Terry, have been following your dedicated help to many regarding our financial concerns. I have a traditional IRA ( 100,000. ) with an internet bank at 1.40 % interest. It will mature at the end of Jan. 2017. I am 83 y.o. & now looking for an easy way to keep this IRA ,…