Ask Terry Archives

Hello Terry, My husband took out Parent Plus loans for our son's college tuition. Since doing that, he has lost his job and also been diagnosed with end stage renal disease. He is currently on dialysis and list for transplant. There is no way at this point we can afford the monthly repayments. Loans are…

Who do I contact concerning a denied health claim by my insurance? Is there a reputable lawyer or agency to contact?

My husband has a pension coming from a previous job that he quit 20 years ago to go to work at another job. He's currently 55 years old and is thinking of taking that money out as a lump sum, we understand that they'll be taxes and penalties for taking it early but we need…

why not discuss lost paper work in student loan collections? many loans are not collectable because of failure, of plaintiff to produce supporting evidence.

Just received a notice from my Discover card, asking me to call or go online to update my profile, specifically occupation information (ok, I can understand that) and CITIZENSHIP? Is this legal??

Hi Terry - I just moved back to the US and started a Bright Start account for our daughter. It seems there was a change in financial managers to Union Bank and Trust. I read your comments about previous managers, do you have an opinion about Union? Would you still recommend Bright Start over Bright…

What was the web site that you mentioned on WGN news that new investors should check out ?

What exactly qualifies someone for a senior homeowner exemption? Is it simply the age of 65 or does it have to do with income level? Can a senior homeowner exemption be combined with the Homeowner Exemption?

We are currently with a bank and previously were with Schwab. We are thinking of changing. Can you share a number to call for T Rowe Price and Vanguard. Can't find a number in the Chicago north suburban area. Thank you.

Hi, Trying to get info as to what is needed to apply for a reverse mortgage. I'm 68,single and about 5 years ago moved into my moms old house when she was moved into an long term assisted living facility. I am power of attorney for both medical and financial for her and her assests(which…

Several weeks ago, you had a very thorough column on 529 accounts. Where can I find a copy of that column? Thank you.

How much life insurance should our son have? He is 35 years old, married, and has one child. He earns $75,000 per year. An advisor has told him that he needs $1 million in term insurance at a cost of $800 per year (from AIG). This seems like too much insurance to me. I would…

I'm 66 yrs old and in good health. how do u decide if it s better to take pension as lump sum or monthly annuity? I'm eligible for social security as well and have money in 403 b plan and some savings in Stock investments. Investor lean toward lump sum that may benefit them. Any…

Hi Terry, Last year my husband of 30 years filed for divorce. My Husband became upset with me and cancelled/removed me only from our "several" Personal and Business credits cards(we own a business jointly 50/50). He got upset with me because I would not respond to his several emails and text messages while I was…

My 16 year old would like to start investing in stocks. What is the best way for him to begin investing?

I currently owe $160,00 on my condo. I am 64 this year. I earn 50-60k in a job that I am not limited by age. My 401k has approx. $140,00. At this point, I am tired of working, but do not want to be a bag lady or a cat-food retiree. Is it silly to…

my husband and i are in our early 50's and neither of us are in stellar health, he has diabetes and I have a other health issues. He really wants to buy a mobile home, but in our area, so few are truly cheap, (i.e. under $80,000). I'm nervous about buying, as his health isn't…

In May 2013, I gave Merrill Lynch an IRA worth $103,000. The VP/Senior Financial Advisor on the account was a personal friend of mine. 44 months later, I closed the account and transferred the total $103,070 to Morgan Stanley. During this 44 month period, the Dow Ind. Average increased by about 33%. An investment in…

Terry, I am trying to get a copy of the above form, but haven't been able to sign up to receive a copy. Can you help me? Thank you, Barbara Stinson

I'M 74 yrs. old,and was wondering if a reverse mort. is a good thing? My home is paid for and have no pmts. on it. My wife is 54 yrs.