Ask Terry Archives

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…

What is the percentage of stolen social security numbers for identity thief?

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…

What are good ones what ones to stay away from

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…

What college expenses may I include when filing my taxes

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…

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…

How to pay off credit card debt on a fixed income

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…

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…

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…

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

Can the federal government run short of dollars, and be unable to pay its bills?

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

I signed up for what I thought was a rewards card, but it ended up being a credit card. It has not been activated yet. How do I go about cancelling this without it affecting my credit score? Thanks

at my "late retirement" I want to get out of stocks to limit risk. My objective is secure preservation first, profit/income next. What should I do with a 500k portfolio?

You mentioned a website to help with scholarship searching last week. What website was that?

vI am going to convert some of my IRA to a ROTH this year. I have the money outside of my IRA to pay the taxes. Do you know if I need to pay estimated taxes on the conversation or just pay the cost when I file my 2017 taxes. I am thinking I will…

I have a 457 that I will be able to draw down due to my age I need your help on how to invest it or were to invest it