Ask Terry Archives

I am a 46yr. old man with a credit score of 0. How should I start going about earning credit?

I saw this article and wondered is this good advise to not get supplemental insurance? Thank you. Medicare Supplemental Policies: Do You Need One?  09/16/2013 03:22 pm ET | Updated Nov 16, 2013 David Belk, Board Certified in Internal Medicine If you’re on Medicare or about to receive Medicare you might be wondering: “should…

I read your column The Savage Truth in my local newspaper about a little-known quirk that allows small businesses a chance to offer employees a job-based plan even if only for 1 employee. What defines a small business in this context? Are there expenses to the business to set up a plan? Where can I…

I am confused on HAMP and HARP I would like to refinance my home mortgage, I have not missed any payments, I am paying 5 1/2 monthly payment is too high for me .I did call Hamp and Harp I am confused which one is the best for me to call.? and do you have…

My wife and I have a large amount of debt with high interest rates. We've done money management debt consolidation before. Should we go the same route or is there anything else we can do to consolidate without ruining what's left of our below average credit?

My husband and I have a revocable trust established in 1997. I have been advised by an attorney that given that the trust is almost 20 years old and that the tax laws have changed, that it would be in our best interest to have it brought up-to-date. The attorney who drew the trust up…

Hi Terry I am nearly 66 and considering taking my SS now. I would like some advice on the wisdom of taking it now versus 70. I will work into my 70s. i also would like some basic advice about how best to invest SS if I take it now, plus paying off some other…

Hi Terry, My question is - is it better to have a credit card account closed due to inactivity or should I make a purchase and keep it open? I really don't need to keep it open, I won't be using it. Does this affect my credit score? Thanks!

Where can I find a Revocable Living Trust Form?

As I was going thru my mothers things I found and article written by you from June 1998 regarding coin collections. Can you give me an update? I have coins dating back to the 1800's. I also have lots of postage stamps (boxes!). I found a website titled, "I inherited a stamp collection, now what".…

I received a letter from my 401K that I have to use some of the money because of my age. I am still working and plan to work until 12/17. why would I have to cash it in and open another 401K? will I be penalized if I don't do it because of my age?

Good afternoon Terry! My father had turned me onto your show and I have since purchased and am in the middle of reading your book. My question is this, I have a TRowe Capital Appreciation Fund which I opened in 2009 which I feel has performed very well. My fiance is looking to invest in…

Hi Terry, have been following your dedicated help to many regarding our financial concerns. I have a traditional IRA ( 100,000. ) with an internet bank at 1.40 % interest. It will mature at the end of Jan. 2017. I am 83 y.o. & now looking for an easy way to keep this IRA ,…

Hello Terri, I saw you on WGN morning news the other day, and am trying to find my stocks from an old job, I was receiving statements and heard you talking and thought Id look. I havent received a statement in quite some time and signed into the AST website and it states that they…

Hi Terry, I am retired and just have a little bit of money in the market. Mostly bond funds and some stock funds. Need it to be liquid. Thought it was pretty safe and conservative . Since the election I'm losing money. I'm tempted to sell and keep in cash. Would love your direction. Thank…

Hello. I just got a 96% increase in my and my husband's CNA long term care policy premium. I live in GA. When I called to ask, they told me the premium increase in GA would be the approved increase amount of 12%. So I called and asked why our premiums went up 8x that…

Hi, Terry, I enjoy your columns in the Sunday Denver Post. This morning's (11/20), on 529 savings plans, referred to parents, grandparents, and "other family members" as potential contributors. Is the 529 plan available to others, e.g. godparents, who are not related to the 529 plan recipient? Thanks, John Poitevin

Hi Terry, my dad is 93 in pretty good health, mom passed away 2yrs ago. They owned 4 properties, one we sold, one he gave to my sister, he lives in one and we're trying to sell another. He has a savings acct and some stocks. He needs to start gifting, which he should have…

I have heard some "experts" say that if Trump is elected, most of the 401k money will be gone due to the market fall. Is this possible and if so, when should I take my money out? I'm 65 so no penalties,and should i take it out now, or will there be time after the…

What is best to do to clean/restore your credit, bankrucpty or credit repair