Financial Planning / Retirement Questions

403B retirement account

Worked for a school district for 3 years. Left in 2005. I am 72 years old now. I wanted to..

Mother-in law’s 401K

My 88 year old mother-in-law has a traditional IRA just under $10000 dollars. Over the years it changed on who..

Social Security

I have been getting Social Security Disability for 10 years. I recieve 1450 a month. If I retire, would I..

In-Service Roll Over into IRA — Terry is steaming angry at this one!!

Hello Terry – We recently met with our financial advisor and he suggested, since we’ve hit 59 1/2 yrs old,..

Illinois Estate Tax

What is the best type of trust to circumvent the Illinois Estate tax?

How am I sitting financially at 77 years old

We own our house. Very little debt. I have a pension and have been managing my portfolio by myself. My..

Turning 73 – should I defer my first withdrawal till 2025?

Hi Terry, I turn 73 in February 2024. I read about deferring my first withdrawal into a Roth until 2025...

City of Elmhurst (IL) widow’s pension

Hello Terry, Followed you for many, years and have made a great financial life for myself based on a lot..

Illinois Estate Tax

What is the best way to avoid paying the egregious Illinois Estate Tax, other than leaving Illinois?

401K

First of all I want to Thank You for your weekly spot on WGN and the knowledge you bring to..

Required Inherited IRA Distributions

I recently read an article that was recently published in our local newspaper. It pertained to treatment of Inherited IRA’s..

taking money from an IRA

I work with a gentleman that is 89 years of age and he said he was told by his tax..

Taking social security before age 70 Terry says: No fool like an old fool!

I’m soon to be 68 years old. I want to wait until 70 to get the larger social security check..

INHERITED IRA’s – SURVIVING SPOUSE AS NAMED BEBEFICIARY

ASKING ON BEHALF OF A FRIEND. I. The questions at hand: If the surviving spouse is designated as the primary..

seeling a financial advisor

I recently retired (1 month ago) and find my husband and myself facing some really important decisions and not really..

Social Security — reader wants to argue with me!

Terry, I will be retiring this year. I am 62. I have determined I need about $9000 a month to..

Where to take RMD from

If you have multiple IRAs or SEPs at different locations, how do you determine how much to take out? Can..

Lower fee for IRA

I was surprised to learn my Principal.com account charged almost $2000 this year for my IRA which I manage myself...

Investment?

At my advanced age and financial state what would you recommend. Retired, Widower, age 78, excellent health no liabilities $200,000..

Finance tracker

What is a good financial tracker…not able to find something that I like since Mint shut down….want something that I..

money

ASK TERRY

a personal
finance question