Ask Terry Archives

Owe about $90,000 in Home Equity. The mortgage is paid in full. Have about $120,000 in stocks. Would it be smart to cash in my stocks to pay off the Home Equity debt. Also, probably will get divorced in 2017.

Please give me the name of the budget book you discusses today available on Amazon

What is your opinion about the wisdom for the small investor of investing in crowdfunding or peer to peer lending? Thank you

Seasons Greetings,Terry! I would like to transfer money out of an IRA that's paying less than 1% to an HSA since we meet the requirements of having one. Is this better than just taking the funds from a regular checking account? We are both retired so cannot make contributions from our paychecks.

Hello, Terry. My husband and I are met a financial advisor who has a radio show on WBBM. I searched the SEC website and the disclosure information showed that this individual has two regulatory events, one customer dispute and one termination. Based on this discovery, we are not comfortable proceeding with this individual. Our question…

I just rec'd a letter from one my creditor who offer me a chargeoff amount less than half of what I owe should I take me up on this offer or is a setup

Upon retiring at 66 yrs, I recently rolled over my 401k into my existing Fidelity IRA. The total is now about 1.6 million. After years of choosing low cost index funds in my 401k, Fidelity Strategic Advisers, Inc. has proposed actively managing my assets for a net annual advisory fee of .66%. The primary investment…

I seem to remember that you suggested a website where people can choose a charity to contribute to. We would like our grandsons to choose a charity which we would then fund or match their contribution as part of our holiday gift to them. Is this site familiar to you? Any help you can give…

Hi Terry, I'm an IL resident who recently became a father and I'm looking to open a 529 plan before year end. I've been reading a lot about Brightstart, but my guess is the higher fees will balance out the tax benefits, so I've been looking at ratings and performance. What are your thoughts on…

HELP! My daughter has more than 60,000 in student loan debt. She has consolidated these three loans and one of the three is a loan that will be paid back in 10 years and what is left is forgiven. Between rent, car payment, and living expenses she cannot make ends meet. Do not know what…

60 years old facing impending downsizing...over $600k in IRA/401k jointly. $100k mortgage...would it make sense to pay off mortgage with 401k, taxable, but no penalty, to get through a potential rough patch of possible unemployment? Given the run-up in the market, thinking of taking gains as opposed to trying to recover from inevitable market correction...Not…

MY FRIEND HEARD ON WGN NOON BUSINESS LUNCH 12/07/16 SOMETHING ABOUT INSURANCE FOR SELF EMPLOYED BUSINESS OWNER. SOMETHING REGARDING A REASONABLE RATE FOR HEALTH INSURANCE. WHAT CAN YOU TELL ME ABOUT THIS

Name on the documentation SS sent to me is for a guy named Kevin and I'm a girl named Carrie. It states MY List of Exhibits is attached for my upcoming hearing where I'm disputing an overpayment and requesting underpaid benefits with documents that substantiate my claim an underpayment, not overpayment had occurred. And you…

Hi Terry, I believe I've heard you talk about the DCSD, dept counsel for seniors and disabled, on WGN. I am a senior (69) living only on Soc Sec and run up 20K in credit card debt, due to circumstances since i lost my job in 2009. I own a townhome (live in NW Indiana).…

Hi Terry, An awkward but serious question... Like a lot of men, I have a collection of Playboy and Penthouse magazines. I do not want them anymore. I'm pretty sure (from visiting flea markets) that they are worth maybe 5-25 cents apiece. Not worth the effort in trying to sell them. I would love to…

I would like to set up accounts for each of my two children to help them with their retirements (unthinkable to them at age 25). Any suggestions? Thank you!

I would like a recommendation of a service to help me get my credit card debt in line. Right now I have quite a few Credit card bills. I heard a commercial on the radio of a company that helps you settle with credit card companies a certain payback but not necessarily the whole amount.…

Could you please explain the DOL fiduciary ruling which will take place next April? Our financial investor, Edward Jones, suggested (or should I say subtly recommended) we look elsewhere to put our investments. I am confused. I have about $2,000 in cash in my IRA to invest & he told me to look online. What…

Financial adviser cites 1.25% cost of my portfolio yearly minimum expense to manage my finances. At present, with my estimate, over 20 yrs that comes to over $120 K. Pretty steep but I do not understand tax gains, best way to invest at age 67 with retirement MAYBE 2-3 yrs ? How do I find…

With the dollar strong against the Euro, I was wondering, since we're taking a European river cruise next Aug., is it wise to buy Euros now or wait until next year.