Ask Terry Archives

Mr. Buffet moves some money out of stocks when he feels the market is overpriced, and then puts the money back in when there is a downward correction. Should this re-balancing be something a middle-aged, middle income household should do periodically (no more than once or twice a year) with their mutual fund account(s)? SAVAGE…

Terry, what does James Stack think of the stock market and its next direction? SAVAGE SAYS:Stack hasn't given a sell signal -- yet!  For more info and to subscribe to his newsletter (which I think is the very best one out there for stock market guidance) go to www.InvesTech.com.

Hi Terry, I'm 62yrs old, retired, collecting a small pension and social security. Any suggestion on tax shelters? I don't want to pay anymore taxes (than I have to) to the feds. FYI....I do not own a home and I have about $15K in a standard IRA. Thank you...Ruth SAVAGE SAYS:You don't need a tax…

Hi, my husband and I are looking into LTC insurance. I am 59 and he is 62. What type is better? So far, we have had quotes on one that requires a large amount up front, earns interest, can be cashed in after 11 years by us, but once used we cannot cash it in...but…

My son is 14 and I want to start a 529. Should I go for a more riskier fund or or a more conservative one because I have only 4 years left to save? SAVAGE SAYS:Good question.  You really only have a few years to save, at the max 7 years if you wait to…

Terry, Can you recommend an investment book or two for a young investor who has his first job and is interested in saving for retirement? Thanks, Carl SAVAGE SAYS:OK, without being modest, let me say that I think my latest book, The Savage Truth on Money,  is the answer and I wish I could make…

Hi Terry, I recently sold my home & also had a 5 yr. CD mature , so I need advice to find some tax deferred investments for this money that is sitting in a 'no interest, .02 % '. Have $50,000. value of EE savings bonds also that will mature next year. Would appreciate your…

I want to buy a life insurance but I do not know how to chooce one. I am 53 years. Can you suggest the insurance that I need. Thank you SAVAGE SAYS: Why do you want to buy life insurance?  Who would be the beneficiary – the person who gets the money when you die? …

What is the best no-load mutual fund available? SAVAGE SAYS:  Aha, that all depends on your goals!  I would suggest going to Morningstar.com and doing some research on your own.  But if you want to know my favorite, all-time, all-weather fund, it is the T. Rowe Price Equity-Income Fund.  I’ve owned it for, wow, about…

I have a traditional bank IRA CD maturing in a few weeks ($120,000). Because of the unstable & low interest rates, I am confused as to where to reinvest this IRA. The bank that it is held in is convincing me to reinvest in another 5 yr. IRA at a rate of 1.00%. They are…

I'd like to know your opinion on whether my daughter should file for bankruptcy or not. She is 42 years old, single and still lives with me. She has so much debt that we can't see her ever getting out from under. She has a B.A. in psychology and a B.S. in nursing and is…

My husband and I are in credit card debt $60,000!! Our income is approx $70,000 per year. Our monthly payments are $1800. We want to get out!! Are there any credit card consolidation company's that we can trust and will help us, not make it worse? SAVAGE SAYS: Immediately call the National Foundation for Consumer…

Terry, Is this LTCI website only for women? If so, can you send me a LTCI website for men. Thank you, Joe SAVAGE SAYS:Oh no -- these are LTC insurance experts for everyone!

Hi Terry, I appreciate your thoughtful and wide-ranging reply to my non-equity IRA question. Based on your advice to others, i already started last week on having T Rowe Price do an analysis of my portfolio. I may take you up on your offer to comment on TRP's portfolio recommendations and plan once I get…

HI, I have money in my savings account that I need to do something with - I had previously sent money to an account that was returned as they are paying too much interest and will not take more deposits so I don't know what to do to increase my savings. I started taking my…

Hello Terry, My traditional IRA CD is maturing soon. My bank is trying to convince me that I should renew for another 5 yrs. Because of my elder age, I don't think this is wise & don't want to lock in for this amt. of time , especially if rates do increase. They are telling…

I'd like to know your opinion on whether my daughter should file for bankruptcy or not. She is 42 years old, single and still lives with me. She has so much debt that we can't see her ever getting out from under. She has a B.A. in psychology and a B.S. in nursing and is…

What is the best no-load mutual fund available? SAVAGE SAYS:Aha, that all depends on your goals!  I would suggest going to Morningstar.com and doing some research on your own.  But if you want to know my favorite, all-time, all-weather fund, it is the T. Rowe Price Equity-Income Fund.  I've owned it for, wow, about 3o…

I have approximately $300,00 in 401k and I'm 58 years old. I owe $120,00 on mortgage, and contribute 25% of salary to 401k. My question is this. Would it be smart to only contribute 5% to 401k, and start paying off the principal with the other 20%? We live modestly, no big credit card debt,…

I have a traditional bank IRA cd maturing in a few weeks.($120,000) Because of the unstable & low interest rates , I am confused as to where to reinvest this IRA. The bank that it is held in is convincing me to reinvest in another 5 yr. IRA at a rate of 1.00%. They are…