Ask Terry Archives

Just wanted to say I read Chicken Money a few moons ago and it's lessons have stuck with me over the years. Of all the financial books I have read, yours was a great read for someone just starting out at the time. While the world has changed since then, it's lessons are still worth…

So can you explain how .25 of a point raise will mean very little to someone's savings but the cost of everything else will rise drastically. A quarter of a point uh ? Are you spreading fear for the globalist bankers ? Please explain

A recent article of yours published in our local newspaper dealt with new combination life/LTC policies. Where can a person obtain such a policy?

Hello Ms. Savage. My wife & I are big fans. Been following your advice for years. Your are so knowledgeable. My wife & I (52 years old) are paying for our daughters' college tuition & preparing for retirement at the same time. A tough juggling act so we sought professional advice from a financial planner.…

Which online stock trading company would you recommend? Firstrade, Scott Trade, Ameritrade, E*Trade, etc.? Thanks

Should I have credit monitoring and if so what do you recommend. We have 4 checking accounts and numerous credit accounts. Thanks

In 2006 my mom did not have health insurance & ended up with congestive heart failure & needed open heart surgery so she went on medicaid at the age of 56. Her house was / is paid for so she put her house into a land trust to me (I am her only child) after…

I have several EE Savings Bond that were issued in 1989 and were owned by my Aunt. l was added as a co-owner in 2013, and my Aunt passed away in April 2016. There are so may questions I have, but the first one is regarding taxes on the interest. Can the interest up until…

What's the best life insurance for cheaper

hi I have a question if a person is 77 years old and disabled in a wheelchair in Illinois and on Medicaid and medicare and receive a inheritance do they qualify to have the option of a first party trust or a first party trust with special needs trust..... or just a and a pooled…

My husband and I are retired and have approximately $1.4 million in IRA/retirement funds. Our home has value of $500,000 and we hold a 15 year mortgage for $89 K at 3% interest, due in about 8 years. Should we consider paying off the mortgage?

Dear Terry, Enjoyed your recent piece, thanks for outlining some history of Social Security adjustments. My question: How long can we continue calling/considering treasury bills holding SocialSecurity funds as "assets"? They're not real estate, commodities or a productive item, they are pure IOU's. (albeit high class IOU's) But any IOU, regardless of pedigree, rests on…

I'm 75 and retired. I have about $650K in a Roth and $98K in an IRA. My wife (age 73) has $900K in a Prudential annuity and $91K in an IRA. We also have $100K in other securities. We're going to start taking money out for general use. In addition to our RMD, which is…

Hi Terry, I was just let go from a job I was at for 19 years. What do you recommend I do with my 401K account since the company will no longer be adding to it. Also, any suggestions on how to pay bills now that I do not have a job. I filed for…

I worked at a very large company in a middle management type of position for many years. About a year and a half ago due to downsizing my position was eliminated and I have not been able to land a new job. I'm 58 and have just over 100K left in my IRA to live…

I am retired and I would like to get a new car. My car is 19 years old. What is your feeling about leasing versus buying.

Hi Terry, I'm sixty-three years old and have been retired for two years plus from the railroad (43yrs). I have an IRA and 401k held by separate financial institutions that were opened late in my career. ( reasons are to numerous to mention) Neither has been added to or subtracted from. I have no idea…

I'm a single mom with three boys aged 26, 20 and 16. I can opt for additional life insurance through my employer for $240,000 for $829 a year. I'd like to know if there are better options to purchase insurance individually. Thanks! Barb Graf

I just heard you on WGN and have a question regarding the American Equity Gold deferred income annuity. My husband and I rolled our IRA into this a year ago with a 10% bonus. We were told the financial agent does not get a percentage from our investments but is rewarded from American Equity themselves.…

Is it best to let dividens roll back over to purchase more holdings of the same fund ... or to take as cash for use in purchasing other stocks.