Financial Planning / Retirement Questions

If I continue to work through the month of January 2022 and then retire, can I contribute the full $7,000..

Hi Terry, I am going to contribute $7000.00 into a Individual Roth IRA for 2021. I am 62 years old...

Terry, Is a Financial Planner worth the cost? And what should I expect to pay? I have a 401k ($500K),..

Hi Terry. I have $20,000 I want to grow some money on. I have no clue where to start. It’s..

Upon selling a home that was quick claim deeded to me how will the proceeds from that sale be taxed?..

I heard that if you enter a nursing home they check back 5 years and if you gave any money..

Hi Terry, by the way I watch you all the time on wgn am. thanks for the answer but I..

Hi Terry, I am currently leasing my car lease is up 4/7 I am 76 still working part time I..

I reinvested a supplemental retirement account into an IRA. Roughly 300,000. Another 27,000 I put into my savings because I..

Will RMD Withdrawal be mandatory for those over 70 1/2 in 2021? I believe this was not required for 2020,..

Retiree is entitled to SocSec of $2300/mo. at age 62, or $3300/mo at age 66 and 10 mo. Retiree would..

I am aware that as a U.S. citizen I am allowed by IRS regulations to give max. $15,000 to as..

I manage the finances for my 101yo mother who is in a nursing center. She is in fairly good health..

Situation – while maintaining an Illinois home address (for convenience with parents), taxpayer traveled extensively in 2020 and had ALL..

Hi Terry, My boyfriend and I own a home together and we are both on the deed. I have inherited..

Can you explain about gifting money to individuals, tax implications and about the $15,000 max a year and what happens..

hello, i have a family member that just won a sizable lottery prize, approx. 1 million dollars. where does one..

Dear Terry, Lately I’ve been entertaining the thought of opening a money market IRA because of the easy liquidity feature...

I will be 67 in April and my husband just turned 60. He works for a junior college , has..

Hi Terry, I have very small amounts in a couple of Roth IRa’s. I listened to you on noon hour..