Ask Terry Archives

My husband was a union member for 34 years until he retired early with an "earned" disability. Though I had always worked, I found myself without a job at the time. Because my husband was unsure of how long it would take for his first Social Security check to come in, and the bills were…

I enjoyed your October 9th column in the Hartford Courant on 529 plans. I have two sons who have completed their college. My question is can I start a 529 plan now for each of them and then use it either for (1) postgraduate work if they choose to go back to school or (2)without…

My 29 year old daughter is looking to buy her first house. She is wondering if she should pay off her car loan prior to purchasing the home? Is has a balance of about $5000.00 . She is financially sound and has an excellent credit score with no credit card debt or other loans. She…

Hi Terry, No question...just thanks for the WGN (Escheate) segment this week. Looked at some of my stuff and noticed Merrill Lynch did send me a letter in 2014 about inactivity and that they follow up every 3 years. Traced out for myself in 2017 in case I don't hear from them. Thankful! (just fyi...mom…

I was wondering what would be the best secured credit to apply for after a Chapter 7 discharge ?

I purchased some land outside of Tucson in the 60's and the taxes were nothing for many years however they have jumped in the last couple of years to were the taxes are almost what I could sell the land for if I could sell it. Should I just stop paying the taxes and walk…

A few years back I followed your suggestion and invested in the Everbank Gold Fund which has since ended. Are there any other Everbank funds or other funds you can recommend at this time for an investment of approximately 50 thousand dollars.

Hi Terry, I recently received financial aide but it won't cover my tuition for grad school. Any advice on taking out student loans to cover the remaining balance. I will be working full time while going to school. I have a undergrad student loan as well. Thank you!!

Good evening, I saw your post on why you shouldn't use Bright Start. If i already have been using that, can i switch to a different 529 w/o taking a tax hit? Thanks!

What do you make of all this talk of the dollar being ditched as the reserve Currency and the implications it has on senior retirement accounts?

In 2 years I will need to begin to take my Required Minimum Distribution, where is the safest place to invest this money?

Should I purchase a product like lock life. We have multiple checking accounts and credit cards.

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.

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?

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

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…

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…

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…

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…

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…