Ask Terry Archives

Hello, My 21 year daughter moved to her Dad's house in Florida in September of 2015 (I live in Illinois) and I claimed her on my 2015 tax return. She is applying to a state college in Florida for the fall of 2017, she currently goes to the junior college in Florida so I presume…

I applied for a ParentPlus loan for my son's college tuition. I was approved and my son was able to use this for his tuition payment. First question. How was I able to be approved for this loan when I cannot even get a credit card from Kohl's? Next question. They sent me a check…

In your recent article "Sticker shock for long term care insurance", you stated that "Premiums were not increased for anyone over age 80". My question is was the reference to age 80 meant to be at the time they signed into the program, or is the "80" meant to be at the time of the…

Im 60 yrs old and no longer work for the company i had a ira with though edward jones i want to close it and cash out can i ?

What was the source of your information regarding the number of federal employees who have participated in the government's long-term care insurance program? (9/4/2016 The Savage Truth)? The article opened with the figure "millions" yet the LTCI website states that enrollees totaled 273,052 in 2015.

Thank you for your article discussing the sticker shock of the rise in premiums for long-term-care policies. The options you described in one company's plan of premiums rising as much as 126% are very similar to the notification I received at age 75 of a rise in premiums of 40%. Even though it represented a…

My homeowners and auto insurance rep is recommending an umbrella insurance policy (365.00 per year).. Is that necessary or even recommended?

We live in Brookfield and have our home paid off and would like to move. Our house is not worth as much as what we need to buy what we want and wondering what would be best with not so good credit. Both in low 500's. Thank you, Tina

Hi, Terry. I am in the process of transferring several IRA accounts, as each one reaches maturity, from a bank in another state to a bank in Illinois. The Banker we use continually pushes annuities, even after I have told her—several times—that I am looking for no risk and prefer to roll over the funds…

My husband just recently passed away and I will be receiving the death benefits plus other funds from business dealings. I don't even know what I am doing at times because of the mourning. What can I do besides money market accounts to "park" funds. I live on a guaranteed monthly annuity and government pension,…

In your article you state that premiums for "anyone over age 80 were not increased". My wife, age 81 and I, age 84 each received a 100% premium increase. Please advise who I should contact regarding this statement to assure correctness. THANK YOU!

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…

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?