Ask Terry Archives
Safe investment to earn 7-10%
Hi Terry, My husband and I are looking for a safe investment for some extra cash we have accumulated. Also, do you feel municipal bond rates may be coming back to a decent return soon?
Legacy Planning for my 401
I am retired and not active at work. My company's 401 is paying a great fixed rate so I don't want to move it from them. I am single and have 3 children. If I pass can my children do a stretch IRA with my 401monies??
26f programs — Avoid this Ripoff!
I am reading about this and it seems tons of money can be made. What are these 26f programs and who sells them and how do you pay to get in etc.????
Minimizing taxation of SS benefits in retirement
I have a question about minimizing taxes on SS benefits in retirement. I'm 60, plan to retire at 65, have > $1M in savings, adding about $26K annually. Savings are a mix of 401Ks, IRAs, mutual funds and bank accounts. Mortgage was paid off years ago, kids are grown and doing well and I'm annoyingly…
selling life insurance policy
I have a $450,000 term life insurance policy. I will turn 75 this year and my premium payments will increase from $2045/yr to $7652/yr in 2017 and over $13,000 in 2018. I am in good health. Do I continue to try and pay the premiums or is this a policy that might be able to…
Roth IRA if I have a 40l(k) at work?
When does it make sense to use Roth IRA. I already am participating to the maximum to my 401K. Does that maximum prevent me from purchasing a Roth IRA with my quarterly company bonus?
debt
hi, I am being sued, by a collection agency, I am on disability, they filled the first time in October 2010, I am blind and did not attend the hearing. Now, today I received a summons, they moved the venue to a court house near my house. What is the worst thing that can happen,…
dollar cost averaging
Thank you for answering my first question. I was in an all bond portfolio, and out of the market for 4 months. Is it to late to dollar cost average back in? I have transferred my money to Vanguard. Thank you again.
Ill. Brightstart 529 Plan as a short-term investment?
Terry, I have read your opinions on the IL Bright Start 529 plan in the past couple of years and they were not "recommended". I am an Ill. resident & I would like to make short term (3-6 months) deposits to the IL Bright Start 529 plan this year (2017) in order to claim the…
Cash Settlement from Lawsuit
Hi Terry, What is the best way to invest a fairly large cash settlement from a lawsuit? Thank you!!
Gold Stock, Zinc Stock
Debt counseling
I have read your comments about the 5 things you should know about debt counseling. Thanks for that. Do you have any counselors or organizations that you recommend?
Advisor took me Out of the Market 4 months ago!
After managing my own money for 25 years I went with a financial advisor. Oct 1st he suggested a bond portfolio because he felt the market was at an all time high- Dow was 18,400. ( I was in a 50-50 portfolio.) I am so sorry I listened to him. I want to change back…
Obama care eligibilty
Terry, Can you get rejected for Obamacare cause of your income because my son in the process of investigating his health care options on the .gov website was told that his income was too high plus he works for a small trucking outfit (less than 50 employees). What was the main reason? Is Obamacare based…
Trustee’s Deed IL Farmland
My husband (who is disabled with younger onset Alzheimers) inherited, by trust, 2 farms with his 3 siblings. We have copies of the Trustee' Deed - Illinois Statutory. If my husband dies, does his portion go to his siblings? Is there a way to get it put in his living trust, for his portion to…
Life insurance at age 24
I am 24 turning 25 in six months, i have life insurance through my employer but only for 30k. I have recently been thinking about getting life insurance but unsure if I should go with 20/30yr or permanent life insurance. What would you recommend for me to do? I am not a mother yet but…
LIFE INSURANCE — changing beneficiary
My husband got life insurance and beneficiaries are me and his 2 adult kids that don't live here. Should it be changed to only me so I can pay off the house we live in?
Trust Brokerage account, Mom has dementia
My mother-in-law has a trust brokerage account along with my brother-in-law. He just died and she has been certified with dementia. Brokerage firm wants both off the account and the successor trustee to supply her social security number for account. Problem is SS and VA checks etc. of mother-in-law automatically deposited to account to provide…
Our Revocable Living Trust Became an Irrevocable Trust at his Death!
In 1993, my husband and I had a Family Revocable Trust written up with a revision made in 2004. Then my husband passed away in 2008 and I wanted to make some changes to the beneficiary list which is linked to the Trust. I wanted to remove several people that had died, change amounts bequeathed,…
Health Insurance for small business
At the end of this year our dental office, 10 employee, and a C Corporation offered a group plan to all employees. All declined coverage except the dentist, owner of the business. BCBS has offered us a plan but when I asked the accountant to take the premium from the dentist's salary check on a…