Ask Terry Archives

Should I prepay for funeral costs or buy insurance specific for those costs. Terry Says:  If you think you might spend down all your assets before death, then you might consider buying a cemetary lot and prepay expenses now.  Just make sure you are dealing with a reputable burial service that will be around when…

What is the website that you suggested this morning on WGN-TV for finding stocks that pay high dividends? Thank you, Terry. Marge Terry Says:  The website is www.BigSafeDividends.com

Where can I find a trusted financial institution sanctioned by the government in order to consolidate credit card balances. There are so many companies advertising but they are definitely "for profit" outfits and I have heard horror stories about them. You had mentioned a site at least approved by the government on an interview you…

Please let me know if Gold is a viable investment. I have heard that it's more stable than stocks or CD's thank you. Terry Says:  To the contrary, gold is a volatile investment -- and for the past two years the volatility has been mostly on the downside!  Gold is a speculation -- or a…

Thank you Terry for your response to my student loan question. My loans are through Nelnet and I believe these are federal loans. The loan servicer informed me that based on my income, my payment is $381.00 per month. I am paying what I can on the loan but since it is not the full…

My 67 year old fiancee has a 23 year old daughter who just graduated from college. She has only worked a few part-time jobs and has never had to pay any of her own expenses. She is getting married next July but he wants to co-sign (and pay the deposit) on a $200,000 condo for…

Is Ron Paul's warning something I should be worried about? Most of my savings is in 403b and various savings accounts. If it is a possible real crisis should I respond favorably to his offers? Terry Says:  I don't know what Ron Paul is "offering" besides a message of gloom.  But he has a point: …

I have 1/3 of my wealth in no load growth funds,1/3 in realestate rental properties,and in1/3 CD's. I do not need any dividends in order to maintain my current lifestyle. Would it make any sense to sell the mutual funds and buy an annuity ? I am 73years old. Terry Says:  What kind of annuity? …

Hi Terry, I have seen you a couple times on the WGN news and this morning, 7-29-15, you spoke of the housing market. I think it was almost destiny that you were on and I was sitting at the kitchen table. I am sure you have gone over this at nausea but here is my…

My wife & I attended your speech in Arlington Heights Tuesday 7/28/2015 & we really enjoyed it. My question or quandary is as a retired federal employee who has only worked for the. Federal Government since high school first as a member of Uncle Sams Misguided Children (aka UNITED STATES MARINE CORPS,[USMC] ) then various…

Hi Terry! What is worse when it comes to credit cards. ... 1. Leaving them open with a 0 balance or 2. Closing them with a 0 balance. I have good credit and would like to close some cards I don't use often but I do not want to close them if it's going to…

my mother was collecting her own ss until my dad died, then went to ss to get widows benifits. it then she found out ss was under paying her. is she entitled to back pay from ss Terry Says:  Well, I must admit that this one has me stumped.  You have the advantage since SS…

What is your advice in finding out the best avenue for refinancing an Interest only mortgage? (Yes Variable Rate) Terry Says:  My first advice is to do it NOW -- before the Fed raises rates!!  You can go to a place like GuaranteedRate.com or Quicken loans to find the best deal.  But get going!

Hi Terry, When you spoke in Arlington Heights, you mentioned a form for a husband and wife to complete that lists where all the important documents and assets are located. I'm having trouble finding it on your website. Can you please send it? Thanks. Terry Says: When you sign up in the yellow box that…

HELLO I AM NEW HOME OWNER FOR A YEAR NOW AND MY ENTREST RATE WAS 3.75 WAS THAT A GOOD RATE AND I AM 62 YEARS OLD CAN YOU ALSO TELL ME IS THIS A GOOD AGE TO RETIRER AT Terry Says:  I think you got a great deal on your mortgage.  Be sure to…

Good morning Terry , I am in the process of repaying my loans. The loan company that I am with has determined a very high payment that I just can't afford month to month that is based on my income. I have called them several times to try to get this reduced but I have…

What is the reason a barrel of oil has hovered around $50 for the last year? In the past, OPEC, would control the price buy cutting production to control inventories, right? Are the inventories the reason, or is there another reason? Thank you. Terry Says:   There is a global free market in oil -- and…

Reverse Mortgage and Surviving Heirs I am 54 and my mom is 92. We purchased a home and my sibblings are trying to convince my mom to get a reverse mortgage. Basically, I would have to sign ownership over to my mom. If she gets a reverse mortgage, borrowing an amount greater than what is…

What are Penny Stocks and are they something to invest in or not? Terry Says:  Penny stocks are stocks with very low prices.  In fact, the prices are so low that they cannot be listed on any major exchange, such as the NASDAQ or NYSE.   By their very nature they are incredibly speculative, and typically…

Is there a form to list more than 3 bonds to change as I have appox. 20 to change. Terry Says:  Sorry, you'll have to give me more information on that question.  Are you talking about U.S. savings bonds, or corporate bonds.  I know that you'll have to have a certified copy of your divorce…