Ask Terry Archives

Hi Terry, I was a freelancer for several years and started a 401k plan and at the beginning of this year I took a full-time position. I would like to switch my current 401k plan to my new employer's 401k program. Is there typically a penalty for doing that? If so, is there anyway to…

My wife has the opportunity to take a lump sum pension payment now of $64247 or a lifetime annuity of $564 per month beginning in 2024. What do you think? Thanks.

by the time it's discov ered!What do I look for when looking for a qualified professional?

I heard u talked about a one year plan. My wife and I recently Retired and cobra runs out end or nov, 2016. Please share the info as I am shocked at lack of insurance options and costs in Chicago. Thank you

My wife is offered a lump sump payment from a previous employer from her 401k. i have a small IRA myself but do not really have anything else for retirement. Any advice would be appreciated.

Not actually a question, but two comments in relation to your column "How to navigate murky Medicare drug plans" published in the Chicago Tribune today (Monday, 10/24/16). 1. You state "you must have Part D if you don't have comparable coverage." This is NOT accurate. You can choose to not take Part D, but should…

I have $25,000 in student loan debt thru Navient(formerly Sallie Mae). It's from the years of 1996-2000. I had a job as a police officer right out of college and paid my loan back religiously. But then I got pregnant with twins who needed special care and attention and quit my job to stay home…

Just a great big thank you for your column. Called eHealthMedicare, talked to Eunice Reid. Great lady. My husband and I will save over $2,000 next year by changing 3 of our 4 plans (2 Part D and 1 Supplemental). Again, thank you. Kathleen Widlic

If your adult children have established 529 plans in another state, can Illinois grandparents contribute to those plans? It is understood that no Illinois tax break would occur. How can we locate the best states to make such investments for our six grandchildren?

You talked about a one-year plan on the WGN Business lunch last Wednesday. Did I hear you correctly? Agile.com?

FOR ALMOST 25YRS I HAVE BEEN LIVING ON A BUDGET IT IS TAKING A TOLL ON MY LIFESTYLE IF I AM SAVING TO MUCH I WILL BE 50 YRS OLD NEXT YR IF I SHOULD BACK OFF AND START TO ENJOY LIFE MORE IT HAS GOT TO EVERY MONTH I SAVE MORE THAN I SPEND

Do Bonds go up or down when the interest rate goes up?

Hi Terry- We have 2 kids in college and recently sold our house because it was too expensive to keep. My husband is looking for work and I have been a stay at home mom until now. We are trying to decide whether or not to buy a modest home, and use some of our…

Please give me your opinion of Illinois' 529 Plans. In particular, what do you think of the Bright Start program?

Can Living Trust forms be obtained on-line or must I go to an Attorney?I don't have much, but I want to keep what I have for my later years. Can you assist? Thank you.

You talking WGN about a first stock to buy kids as gifts to get him started in stock trading what is that site?

I am an unemployed young adult who have recently received a substantial amount of money. I don't have much credit and would like to purchase property. I would like to know how can I build my credit for financing? I have considered purchasing the property in full and financing a car for future credit opportunities.…

Who do you recommend in the Chicago area to help me with what to do with my 401K etc as I enter retirement in about 4 years .

I recently read an article that you wrote in the Tampa Bay Times regarding Debt Help foro Seniors. I have been agonizing over this for a very long time. Back in 2011 we were advised by a local attorney to stop paying our credit card bills. Two of the companies that were advised not to…

How do I get a copy?