Ask Terry Archives
IRA REQUIRED MINIMUM DISTRIBUTIONS
In 2 years I will need to begin to take my Required Minimum Distribution, where is the safest place to invest this money?
Life lock or similar product
Should I purchase a product like lock life. We have multiple checking accounts and credit cards.
term or life insurance
I just turned 59 today. I have no children. Not married. I have term but as you know it will expire. Should I buy whole to leave no burial money needed to my family.Thank you.
date of maturity of Series EE savings bond
I have a Series EE savings bond issued 09/1986. Is the bond fully matured as of September 1, 2016 or after the end of 09/2016?
where to put money
have recd a cash settlement....have other retirement money in place....whats the best place to put this for some quick - fast - cash access....was going w/ commercial mortgage bridge loans till saw your answer!!! thanks
Are personal tuition costs tax deductable?
Hello, I'm 57 and returning to school in 2016. I've paid the tuition costs in full in 2016 and I'm wondering if I will be able to deduct any of the tuition fee off of my taxes. And would any other costs associated with the return to school be deductible as well? For example, would…
fixed indexed annuity question — Terry says: Don’t Do It!!!
I am 71 years old and recently retired. I have money in a 401K that a financial adviser suggests putting in the Athene Balanced Choice Annuity Elevate (fixed index annuity which uses the Merrill Lynch RPM Index). He feels this is better to the avoid the volatility and to leave a legacy. Is this a…
Long term care insurance increases and inflation protection
At age 58, I purchased LTE insurance from a reputable company. Now, as I approach age 63, I am told my premium must almost double to keep my current coverage because "premiums are not sufficient to meet the program's future." If I keep the same coverage, I must pay almost $500 a month! Or, I…
internet fraud — horrible scam
Hello, I am wondering if you can point me in the correct direction. I had receeved an e-mail about becoming an Amazon Affiliate - "for incredible amount of commissions per week- $2500. Well, I responded to the e-mail, and well, to make a log story short.. The person that contacted me back by telephone, told…
Searching for an unbiased, fee based advisor
Hi Terry, You had responded back in January of this year to a question I had about paying off my house versus 529 versus investment accounts. Your advice confirmed I am more or less on the right track. As I've considered the options and discussed things with my current bank, brokerage, etc., I've learned how…
necessary info to leave in my will
A while ago you were kind enough to enable us to have a list of necessary information for my will and executor after I am gone....is there any possibility I can still access this and furnish my classmates in elder law class also? Thank you, dar dean
Refinance mortgage at lower rate or pay down current loan?
We own a condo and owe about $100k on our current 30 year fixed mortgage (5.125% interest rate) and would like to pay off our loan in the next 15 years as we will be nearing retirement. According to Freddie Mac current 15 year fixed rates are around 2.75%. Should we refinance or just pay…
Personal financial organizer
Medical Bills — Now What?
What suggestions do you have to pay off excessive medical bills that accumulated when I was out of work?
Beneficiary Problem For Cohabiting Couple
My Mother lives in another state. My boyfriend lives with me. Each is a 50% beneficiary of my retirement accounts (401K and Profit-Sharing). Mom doesn't know that I'm gay nor does she know that I live with my committed partner. She also doesn't know that she is only 50% beneficiary. Putting aside my reasons for…
Federal Long Term Care Insurance Premiums Over Age 80
My husband and I have FLTC Insurance and have two questions relative to your column in the Santa Barbara News Press on September 4, 2016. He is over 80, and his premium was raised. What source do I use to challenge this? Also, I have a policy with a lifetime benefit period that I started…
Help — need methods of debt relief
I have about 34000 in unsecured loans and credit card debts. i am paying about 1500$ a month on those debts alone I am current on my payments for now but need help on what to do. it is becoming harder and harder to manage. What are my options? continue paying minimum payment consolidation or…
interest rates & the Fed
Terry: when the Fed raises interest rates is that good for my money market investments or bad? I can never keep it strait. thank you
Auto Insurance vehicle coverage for retirees
Hello Terry We would benefit greatly from some suggestions on auto vehicle coverage, including recommendations for comprehensive/collision
Inheritance, Gift Tax of Money from Philippines
Hello! My family owns property in the Philippines. We are in final stages of selling it. Because majority of the siblings are here in the United Staes, we have appointed our two remaining siblings who still resides in the Philippines as Power of Attorney and execute the deed of sale, and the sale proceeds will…
