Ask Terry Archives

Can you understand why the Quicken folks would publish a budget program that WILL NOT allow a user to create a 12 month budget?? You can only budget one month ahead. This seems ludicrous and I only found out after I bought it. Never thought that a 12 month budgeting capacity would not be part…

Hi Terry, my husband and I are recently retired. We have a 403b, and Ira accounts. We know that we will have to start taking Rmds in a few years. Most of our accounts are with Charles Scwab. Should we start taking some money out now to avoid large taxes when we are 70 1/2…

I am a 60 year old widower just sold my house and have 150000.00 to invest. Im on social security and receive a small amount monthly from the VA. not presently working. need a safe investment. Thank you Terry Says:  Then just put the money in the bank, earning almost no interest in a FDIC-insured money…

What is an appropriate percentage of total portfolio to invest in both GEUR and GYEN ETF's? I already own ISHARES GOLD ETF which accounts for 5.5% of after tax portfolio and no current holdings for Gold in SEP IRA. Terry Says:  In general, the idea of owning gold is a "bet against the currency."  And…

how do I find out if the bond was cashed. Terry Says:  These bonds were tax-free general obligation bonds of the State of Illinois. At the time they were first issued, they paid an attractive rate -- tax-free -- and "promised" a small bonus if the bonds were cashed in and used to pay for…

terry, i purchased 100 shares of baxter in 1985. over the years i reinvested the dividends and bought more shares. a company called computershare is the transfer agent and held the account. in 2010 all shares were sold and turned over to the state they said i had abandoned the account. i was not aware…

I heard you discussing negative interest rates and saving in a down economy and how gold can be a safe place, or at least should be a part of a well diversified portfolio. What is the best way to go about buying gold? Where should one go to buy gold? There's a lot of commercials…

Do you know where I might sell my dad's old stamp collection? I don't know anything about stamps, so I have to hope they are honest. Thank you. Barb Terry Says:  This is really a tough question.  I know coin dealers I trust, but I don't have a personal recommendation on a stamp dealer, or…

Your column is generally quite helpful but how can you recommend Lifelock in your column when Lifelock agreed on 12/17/15 to pay a fine of $100 Million!!! to the FTC for, among other things, Misleading consumers with deceptive Advertising? Plus, they already paid a fine to the FTC of $12 Million back on 3/9/2010. Regards,…

Hi Terry I read your column just about every week and my question to you is about capital gains. My brother and I purchased a commercial property in 1979 and ran a business for over thirty one years. We paid seventy-five thousand for it and sold it for four hundred thousand in 2015. We owned…

I am working with a financial planner who wants me to roll my 401k into an annuity that he says will get me a 7percent return on my money. He said the fees are about 2 percent but would be worth it. Are annuitys a good way to invest or should I stay away. Terry…

Terry, Not a question but just wanted to say that I agreed with your thoughts on Governor Rauners Speech! I can't figure out how people have not figured out that this has taken a long time to get in such terrible shape and those people( republican or democrat) have to go! We can't keep doing…

I have a 401k and an IRA. At age 70 and a half, can I take a distribution from one account to satisfy my total RMC for both accounts. Terry Says:  Are you still working?  If not, I would suggest rolling your 40l(k) into an IRA.  Here's a link to my recent column, which may…

I took your advice - froze my credit - should my wife also freeze her credit ? She has been a homemaker for 30+ years Terry Says:  Yes, she would want to freeze her credit, too --  especially if you have joint accounts!  That assumes that she is also not planning to apply for new credit,…

I remarried 6 years ago and I myself invested in a condo in Florida which I bought for $165 K at an interest rate of 4.88%. I do rent it out as a second home. My name is not on the title of the house that I live with my husband in IL. What factors…

Can I get more then 1 Senior real estate tax exemption ? Can I send in Senior citizen exemption and Senior freeze exemption? Or must I choose one? If so which one is better ? Thank you Terry Says:  I'm going to presume you live in Cook County, IL, where most of my radio listeners…

Terry I have several questions on moving money from a 401k to an IRA. Currently the money is in a T Row Price Retirement 2015 and Retirement 2020 and the T Rowe Price S&P Index 500 fund. That is a company sponsored plan. I plan to move it to the 'regular' T Rowe Plan funds…

I would like to invest a small amount of money in gold not gold itself but in the gold mines is there a simple way can I do this Terry Says:  Contact Fidelity or Vanguard and ask about their mutual funds that buy gold mining stocks.   Or go to www.USFUNDS.com, and inquire about  their gold funds.  That…

My husband and I are living on our S.S. income. We need additional income and are thinking of taking dividends earned on stock in our 401K's in cash instead of reinvesting. I will need to start withdrawing from my 401(k) next year. If we convert the dividends to cash will that count towards my RMD?…

I am 71 years old semi retired. I have considerable debt ( 40,000.) and was wondering if I should refinance my home or if I should take money out of my Annuities to pay off debt? Terry Says:  Well, I think I need to know more about the larger picture here to give good advice,…