Ask Terry Archives

Terry could you recommend a reputable group for our niece to discuss debt counseling. They are a year behind on their HOA payments and two years behind on their county real estate taxes. thank you Terry Says:  I always and ONLY recommend that National Foundation for Credit Counseling, with branches across the country.  You can…

Do you have a recommended site to shop for homeowners insurance? Terry Says:  There are actually a couple of sites that say they compare homeowners' insurance prices.  Perhaps the best known is Netquote.com.  They say they compare from Progressive, State Farm, eSureance (Allstate), and Liberty Mutual among others.  And you might use this as a starting…

I am 85 and have had this carryover for several years.( was higher some years ago) but currently can only deduct 3K per year. I want to sell a income property I own..will I be able to deduct the full 80K from the profit of that sale? I have rec'd conflicting answers from CPA's. Thank…

I retired 20 months ago at age 63. My full retirement age is 66. I have not applied for Social Security benefits. My spouse is 10 years younger and still works. We live on her income and my non-retirement savings. In a recent column you referenced that delaying Social Security would significantly increase benefits. Since…

What web site or association can I go to to find a new low interest credit card. Terry Says:  Go to www.Bankrate.com and you can search for cards based on interest rates, annual fees, balance transfer offers, etc.  Here's a link to that page.

My dad owns savings bonds naming my uncle as the beneficiary. My uncle recently passed away. How can he change the beneficiary to me? Terry Says: Yes, your Dad can change the beneficiary without any problem.  BUT, if the savings bonds are paper bonds, they must first be converted to electronic form.  Then the named beneficiary…

Calculated Value of Your Savings Bonds (treasurydirect.gov/.SBC/Price) does not list the interest rate for Series I bonds anymore. Why? Thanks. Terry Says:  Here's a link to the page on Treasurydirect.gov that shows the interest rate for Series I bonds.

HI, I want to consolidate my 6-figure student loans into a single fixed interest rate loan. I know of six banks / student loan refinance companies (SoFi, Earnest, etc.). My concerns are: 1. Are these companies reputable; 2.Are their any internet information sources that I can address to recommend specific ones; 3. As I'm not…

Hello Terry, I recently lost my job and my husband and I decided that the best thing to do is to refinance our home which we purchased three years ago. Apparently, our home has increased its value around $80,000. We received a letter from a Mortgage company and gave them a call and information requested…

Hello, I read a question someone asked you about College Saving Plans and I read your answer about Bright Start. Basically, they didn't get rid of a management company that was responsible for losing a lot of money. My question to you is! I have a Bright Start account for my daughter that is now…

Would have a recommendation that I could check with. Ed jones recommended Pacific Life- do you have others you like? Ref your atricle in the Orlando Sentinel on 2-28-16 ph E6 Thanks Terry Says:  First, here's a link to an article I wrote recently about Longevity Annuities.  It's especially important to chose a sound company…

I was reading your column in the newspaper and had a question about what was said about social security deferral: "Deferring a starting date until age 70 (and specifying in writing that you do not want to take benefits even a day before you reach your 70th birthday) can provide an increase of 8 percent…

what is your current opinions on the two: continuing care facility or continue with long term insurance Terry Says:  Long term care insurance is designed to pay the money for a continuing care facility, or a nursing home, or for home health care.  The concept of most continuing care facilities is that you move in…

Can you understand why the Quicken folks would publish a budget program that WILL NOT allow a user to create a 12 month budget?? You can only budget one month ahead. This seems ludicrous and I only found out after I bought it. Never thought that a 12 month budgeting capacity would not be part…

Hi Terry, my husband and I are recently retired. We have a 403b, and Ira accounts. We know that we will have to start taking Rmds in a few years. Most of our accounts are with Charles Scwab. Should we start taking some money out now to avoid large taxes when we are 70 1/2…

I am a 60 year old widower just sold my house and have 150000.00 to invest. Im on social security and receive a small amount monthly from the VA. not presently working. need a safe investment. Thank you Terry Says:  Then just put the money in the bank, earning almost no interest in a FDIC-insured money…

What is an appropriate percentage of total portfolio to invest in both GEUR and GYEN ETF's? I already own ISHARES GOLD ETF which accounts for 5.5% of after tax portfolio and no current holdings for Gold in SEP IRA. Terry Says:  In general, the idea of owning gold is a "bet against the currency."  And…

how do I find out if the bond was cashed. Terry Says:  These bonds were tax-free general obligation bonds of the State of Illinois. At the time they were first issued, they paid an attractive rate -- tax-free -- and "promised" a small bonus if the bonds were cashed in and used to pay for…

terry, i purchased 100 shares of baxter in 1985. over the years i reinvested the dividends and bought more shares. a company called computershare is the transfer agent and held the account. in 2010 all shares were sold and turned over to the state they said i had abandoned the account. i was not aware…

I am working with a financial planner who wants me to roll my 401k into an annuity that he says will get me a 7percent return on my money. He said the fees are about 2 percent but would be worth it. Are annuitys a good way to invest or should I stay away. Terry…