Ask Terry Archives

The company I work for has an investment plan, sort of. They don't put anything into it, they just have a company that sells us mutual funds, the money is taken off the top and is put into a SEP IRA. The nice thing is that the money is taken before I get my check,…

Balance transfer cards vs consolidate credit cards, suggestions for best company Thank you LB

Good afternoon Terry, I am a CFP professional in the Plainfield, IL. area. I was recently contacted by an individual interested in rolling over her 401(k) because she listens to your radio segment and said this was your recommendation. As an independent advisor, I can offer this client a Vanguard managed portfolio for a total…

I need help finding an attorney who specializes in estate planning. I am single and have no family. Its very important that I make my final arrangements with someone that I can trust.

Hi Terry. My husband and I purchased 8 semesters of college for our first daughter through the College Illinois program, roughly 14 years ago. Since then, we could afford to purchase only 2 semesters of College Illinois for our second daughter. We just sold a piece of property and plan to apply the proceeds to…

Please clarify to me and your viewers: From a ROTH IRA, one can withdraw up to the total of initial investment at any time. Thank you

I have a account that about to go to court. Should I file for brankrupty, because several attorney have contact me or should I attempt to contact the company and try to make arraignment. but I don't have any disposal income

As a lender, we are subjected to using the appraisal company assigned. Our appraisal was ordered on March 29, completed on April 4, with a due date of April 7. On April 7, the representative of the appraisal company emailed saying the appraisal would be delivered on April 10. During this delay, the appraisal rep…

is this program for real

I am a 63 yr old woman, retired, thinking about purchasing long term care insurance. I have been told it's very expensive. I remember you discussing this on WGN radio a while ago. I wish I had paid closer attention. Can you give me any tips when purchasing Longterm Care Insurance? Thank you, Terry

As part of a recent mass layoff, I have 60 days until my employment ends and my last pay check. I haven't received my figures yet, but I'm estimating lump sum severance to be $50K after taxes.It would be deposited to my bank account a few weeks after the term date. We are allowed to…

I was forced by circumstance to accept Social Security at age 62 because I couldn't work at the time because of a knee injury. (I never applied for SS Disability or Medicaid) Now that I am physically able to work again, could I maybe suspend Social Security a couple of years, work, and add to…

If I have health insurance with my employer as part of my retirement package, why must I sign up for Medicare part B?

I made an IRA contribution in January of 2016 for my 2015 taxes, but it was coded as a current year investment. I filed my 2015 taxes with that amount and wanted to do new IRA's for my wife and me this year 2018, for 2017 taxes and cannot. What do I do?

I live in a board and care right now but am applying to senior apts who just take 30% of your income. By question is how do I live on only $900.00 a month that I will be getting from social security and SSI disability paments that I receive monthy. It seems impossible but I…

I have 10 shares of AT&T Corp stock dated December 23, 1997. How much is that worth?

Not a question - a statement. Your column in the April 9 edition of The Denver Post w/regard to the 2017 medical expense deduction states that for those over age 65 the deduction begins when medical expenses are over 7.5 percent of adjusted gross income. This is no longer the case. Per IRS website, the…

What is the percentage of stolen social security numbers for identity thief?

I am retired and so far very blessed to own rental properties. However I am looking for Financial advise on how to protect my savings from losses in the market and where can I best protect that savings and yet get some growth to keep up with inflation. I have read your column in the…

What are good ones what ones to stay away from