Ask Terry Archives

Are you also practicing as a personal financial advisor yourself? If not, could you recommend anyone of your caliber, in Chicago downtown area or Libertyville area? I would also like to know an approximate fee range, if possible. Thank you. Terry Says:  I don't have individual clients, but I'm always trying to point people in the…

which interest rates have risen since Jan 1 of 2013 and by what percent? Terry Says:  Short term rates have stayed basically the same.  The 90-day Treasury bill rate has been less than 0.15 percent for six straight years.  But 10-year rates have risen a lot by comparison.  Last year the 10 year Treasury note…

You're one of the best financial journalists & advisors on the scene, no doubt. However, with your proven analytical skill sets in the economic arena combined with a high level of common sense, would you ever consider running for public office? This country is in great need of these assets in Washington. Terry Says:  Whoever…

Is charging $5000.00 too much to open an account with a investment firm? And then charge 1.5% to manage your account. Terry Says:  That is absolutely RIDICULOUS!  Don't put your money there -- wherever "there" is!  Just go to Fidelity.com or Vanguard.com or TRowePrice.com.  They each have toll-free numbers as well  as a website, and…

Hi Terry, We keep receiving brochures for Retirement Planning Courses. They are always from Financial advisors and we were wondering if these are just marketing for them and their companies or do they provide a good training option? They are usually 2.5 - 3 hours for 3 nights. We are 2-3 years away for retirement…

Terry, When I left my company very early in 2000, I had $350k. I went to a very large firm and asked them to manage. I was feeling bullish and assumed too much risk. I lost over $200K quickly. Since then I've used a managed fund approach and that $150k is now only $250k. I…

comments on Need a financial advisor for daughter ange said on January 3, 2014 at 9:16am, How wonderful that you can recommend a financial planner for the above. Any possibility that you could suggest one for CT, 06489 area ? I do think this request is going too far but just a thought ! It’s…

Hi Terry, My son will begin college in the fall. I have accumulated approximately $40,000 in a combination of savings bonds and a youth investor fund. Now that i want to begin to pull out $10,000 a year, i'm not sure which i should take from first. Should i do a combination of both funds,…

I have alot of credit card debt with high interest rates. Do I try to pay those down before paying into an IRA? I only have $13,000 in my IRA and am 50. I have been paying into this on a monthly basis since mid 2013 but cannot get credit card debt down. (used to…

I am looking into 3D Printing companies to invest in. What is yor opinion on this sector of the market. I think that are a couple good companies in this area, I.E. Autodesk (NASDAQ: ADSK), 3D Systems (NYSE: DDD), and Stratasys (NASDAQ). Do you think that this may be a good direction to go or…

where can i go to buy little pieces of stock to teach my children how to invest smart Terry Says:  Go to www.Sharebuilder.com, where you can buy stocks, no minimum, for only $7.95 per transaction.

I am 85, just diagnosed with acute leukemia. I think my own affairs are OK, but my daughter who lives in a Milwaukee suburb is going to need help in managing what she inherits. This will be a house worth about 200K, plus several hundred thousand in asset. Any suggestions on a financial advisor? Thanks…

Once you get timely making all required payments after a few years of being delinquent (particularly regarding student loans), how long does it take to make a marked improvement in one's scores? I know a young man who was behind on his student loans for a couple of years, recently contacted the lender and has…

Future of high quality munis and industrial high yield bonds Terry Says:  When interest rates rise, bond PRICES fall.  The longer the maturity of the bond, the greater the drop in price.  That has nothing to do with the credit qualify of the company or municipality that did the borrowing.  If they get into financial…

I attended your talk at the Economic Club of Southwest Michigan in October and you gave several web sites. I have downloaded your Financial Organizer piece, but I remember that you recommended two other pieces--one on determining how much is needed for retirement and another for how long one may live. I am sharing these…

We decided to cash in one of our retirement Roth IRA Funds for 68,000 we have paid 5% to the state and 20% to the federal government but will there be additional tax charges when we file that we should be aware of? My husband makes 70,000 a year but we have a 35,000 dollar…

After the second election, we went to 90% in cash money market. Should have waited but he scares me. Do you see a major correction in 2014, or should we jump back in? Terry Says:  I never give stock market timing advice!  If I were that good at it, I'd be spending my time sitting…

Hi Terry, I need to obtain some advice. I'm in my late 20's and trying to establish credit. I currently have a Mastercard with a $300 limit which I've had for close to two years and have never missed a payment. I always pay in full too. I'm having a hard time applying for different…

I'm retiring and recently sold my home and downsized to a smaller home in Florida. I picked Florida because of lower property taxes and no state income tax. Tired of paying Illinois high rates on everything. I purchased a town house in a golf community with no mortgage. After purchasing this town home I have…

Terry Is it a good move to start putting money into a lirp from an annuity and 401k ? I will be 60 years old in 2 weeks Terry Says:  I assume you are talking about a Life Insurance Retirement Plan, which is a fancy name for getting you to buy more life insurance than…