Ask Terry Archives

Divorced eight (8) years ago our daughter recently moved back home with my wife and I along with three (3) Grandchildren. Her former husband has paid no Alimony nor has he seen his children for the past five (5) years (his choice). After struggling financially for past five years and trying to make it on…

I purchased a eft stock, PDI. I keep hearing both good and bad. My main interest is dividend income. What do you think of etf's and Pimco's PDI? Terry Says:  I typically don't give stock recommendations, and I don't want to deviate.  However, if you go to Morningstar.com (even without being a member) you can…

Yes Terry, I am a retired 61 year old single male with a full postal pension and need to know if it is still advisable to fund a Roth IRA, when I do not really need it? Terry Says:  First of all,  you can only "fund" an IRA (any type of IRA) with earned income,…

I have been retired 5 years. I have a deferred nationwide retirement solutions account with 80 percent in fixed and 20 percent in large cap stocks. I'm hoping to watch that account grow to give to my children when I am gone. With the market free falling I am very fearful of losing this money…

I am 61 don't plan on retiring until age 66. I have approximately $300,000 in a variety of American Funds. I am concerned with the downturn right now. Should I sell these stock and move to Money Market Funds. I hear I can expect to lose 30% of their value with this current downturn and…

Was listening to WGN this morning and the financial advisor was quite adamant about rolling over funds in my 401k and IRA into a commercial market bridge loan. He said it will be a safe haven for our money for the next year. He also said that there is no penalty to roll it over…

My Native American tribe has just begun issuing per capita payments totaling $20,000 per year. I am recently married and between my husband and myself, we are able to make ends meet and don't need to use the extra funds to live. I wondered what was the most prudent way to invest/save/utilize this money. I…

Hi Terry, I cant seem to get an honest answer on this question because everyone I ask has their own motivations. I am trying to decide between paying off my house or investing in the market and my children's' 529 plans. I am 50 years old making a good living and have been able to…

I need regular withdrawals from my IRA to supplement my social security living expenses. How can I safeguard my IRA funds from the predicted market drop. Terry Says:  The only way to completely safeguard your investments from a stock market decline is to be completely out of the market!  I'm being serious here.  You could…

My husband is 52 and his term life ends in April. At this point in his/our lives... should he get term life or whole life? I'm confused... Thanks! Terry Says:  Ask yourself:  What happens to me if he dies in the next 20 years?   The life insurance is not for him!  It's for you, and…

I'm invested 90% in vanguards total stock market I had a high at one time of around 300 thousand dollars I'm now 65 and retired so my question is I wanted to buy 6000 shares of At&T I'm after the dividend and the way I look at it is it's not the share price I…

Heard you on WGN radio this morning.....Do you still wear your heart necklace? I remember it so well when you were on TV. Terry Says:  Thanks for remembering.  It was black onyx, and it sort of became my trademark.  I still have it, but wear it rarely!

I have a TIAACREF and IMRF pension account. How do I choose the funds to invest in? I am 58 and hope to work at least 10 more years. Thanks! Terry Says:  You're fortunate that you're working with TIAA-CREF.  They have advisors for pre-retirees, helping them choose funds.  (And I'm assuming that you're referring to…

Hi Terry, I have 28k I would like to invest for up to 2 years with the least amount of risk. What would be your suggestion? Thanks Terry Says:  A two-year Certificate of Deposit at your federally-insured bank!

Can you recommend a Fee for Service Financial Planner in the northwest suburbs of Chicago? We want to ask questions about retirement planning and investing. Thanks.... Terry Says:  I don't recommend individual planners, but go to www.plannersearch.org, the website of the Financial Planning Association.  Search for a Certified Financial Planner who is fee-only.

Hi Terry, My question is my mother is 96 years of age and lives with my husband and I. We own our home. I do not charge her anything to live with us. She receives her pension check which is very small and her social security check. She does have a apartment building. IT is…

when the distribution is made in the first year and considered income to the beneficiary, is it based on her tax bracket and if is low which is the best way to go? what is the 5.64% that is referred to? what is the best option and what is the timing factor? your article and…

Hi Terry, I recall you being on a radio segment in November or December speaking about gaining 6 or 7 percent return with almost no risk. I did not recall the website you mentioned. I would like to investigate this option since I am not as stock savvy as I would like, and my wife…

My mother is 87 and her health has been declining recently. I had her withdraw more than the required distribution from her IRA the last couple of years even though she does not need the income at this time. The money is transferred to a taxable account. The amount of the distribution is calculated so…

What are your views on Disability Insurance? I took out a policy 5 years ago after my divorce because I was worried about supporting my kids if something should happen. I'm now remarried, though my husband, a teacher, makes 1/3 of my salary. I am thinking I'd rather invest the money into my kids' college…