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529 plans- Illinois Brightstart (https://www.terrysavage.com/askterry/529-plans-illinois-brightstart) Answered on January 6, 2018 Email *

Hi Terry, I’ve read some of your previous answers on Illinois Brightstart 529 plans. I’ve read… * Required Fields

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(http://www.linked beginner or small investment website (https://www.terrysavage.com/ask-terry/beginner-small-investmentwebsite) Answered on January 6, 2018

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You discussed a website on the WGN morning show a couple weeks ago where you can invest small dollar…

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Hi Terry, I’ve read some of your previous answers on Illinois Brightstart 529 plans. I’ve read…

Retirement savings (https://www.terrysavage.com/ask-terry/retirementsavings) Answered on January 6, 2018

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My wife and I are 62. Holding off on SS until 70. We have about $500k in savings, house paid off, no…

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December 2017 Questions & Answers By Terry Savage

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Umbrella insurance policy (https://www.terrysavage.com/askterry/umbrella-insurance-policy-2) Answered on December 29, 2017 Is it better to have a one million dollar umbrella insurance policy or 2 separate auto and home…

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Huge mortgage loan interest subsidized by savers (https://www.terrysavage.com/ask-terry/huge-mortgage-loan-interestsubsidized-savers) Answered on December 29, 2017 Large mortgage holders seem to complain limit is being reduced from $1000K to $750K. No one mentions…

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stable value funds in 40l(k) plans (https://www.terrysavage.com/askterry/stable-value-funds-40lk-plans) Answered on December 28, 2017 In Oct you replied to my same question that 401 funds are chicken money funds and they are insurance…

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Moving IRA Inheritance (https://www.terrysavage.com/askterry/moving-ira-inheritance) Answered on December 28, 2017 Why can’t I move my IRA inheritance from my mother’s financial investment company to my investment…

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Techniques for new college grad job hunting (https://www.terrysavage.com/ask-terry/techniques-new-college-gradjob-hunting) Answered on December 28, 2017 Do you have any resources to advise a new grad with a biz degree in Hospitality and a JD how to…

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529 investment- try out Bright start or use NY’s plan (https://www.terrysavage.com/ask-terry/529-investment-try-bright-startuse-nys-plan) Answered on December 27, 2017 Hi, I want to open a 529 plan for my 1 year old daughter. It would be nice to take advantage of the…

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ROTH Iras (https://www.terrysavage.com/ask-terry/roth-iras-2) Answered on December 27, 2017

I’m 80 and retired. Is a Roth Ira a good place to put some of my savings and if so do I put it in…

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credit freeze: extended? (https://www.terrysavage.com/ask-terry/creditfreeze-extended) Answered on December 27, 2017 I have placed freezes with each of the 3 services. Do I need to extend these now as the 90 day…

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Data breaches — credit monitoring or freeze? (https://www.terrysavage.com/ask-terry/data-breaches-creditmonitoring-freeze) Answered on December 27, 2017 Hello, I saw you on the news a few months ago after the Equifax data breach. My life is a bit of an…

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CollegeIllinois current payment (https://www.terrysavage.com/askterry/collegeillinois-current-payment) Answered on December 26, 2017 Your column today about College Illinois struck home. I have 2 kids, starting college in 2020 and…

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new tax code impact on maintenance payments (https://www.terrysavage.com/ask-terry/new-tax-code-impactmaintenance-payments) Answered on December 26, 2017 hi Terry! thank you for your time. i heard you today on WGN Wintrust Lunch. i had a question…

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Saving for college (https://www.terrysavage.com/ask-terry/saving-forcollege-3) Answered on December 26, 2017 My friend who has an 8 mos. old baby wants to start a college saving plan. What’s your…

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Prepay 2017 Income Taxes Instead of Waiting til Jan 15th (https://www.terrysavage.com/ask-terry/prepay-2017-income-taxesinstead-waiting-til-jan-15th) Answered on December 25, 2017 The other day on WGN radio I thought I heard you say that I cannot prepay now my Jan 2018 quarterly…

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early payment of state property tax (https://www.terrysavage.com/askterry/early-payment-state-property-tax) Answered on December 25, 2017 Is there any advantage to paying my realestate taxes before Jan 1 ?

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Property tax deduction in 2018 (https://www.terrysavage.com/askterry/property-tax-deduction-2018) Answered on December 25, 2017 Since the SALT deduction will be limited to $10,000 if I itemize for my 2018 federal taxes, I am…

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Credit impacts mortgage refi (https://www.terrysavage.com/askterry/credit-impacts-mortgage-refi) Answered on December 19, 2017 I’m attempting to refinance my mortgage and need to raise my score a few points to meet the required…

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Chicken Money Investments (https://www.terrysavage.com/askterry/chicken-money-investments-2) Answered on December 19, 2017 My wife and I enjoyed your talk at Northeastern University on Oct 24th. You have said not to invest…

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401K benefits vs rollover to IRA account (not just investment choices) (https://www.terrysavage.com/ask-terry/401k-benefits-vs-rollover-iraaccount-not-just-investment-choices) Answered on December 18, 2017 Are there any benefits other than investment choices to keeping a large 401K balance at a former…

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Retirement buckets vs asset allocation (https://www.terrysavage.com/ask-terry/retirement-buckets-vs-assetallocation) Answered on December 18, 2017 Hi Terry, I’d like your opinion on which approach to managing ones retirement nest egg is better:…

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Investment of inheritance (https://www.terrysavage.com/askterry/investment-of-inheritance) Answered on December 17, 2017 Hi Terry! I am a single mom raising three kids and I received an inheritance of 30,000 that I want…

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LIFE INSURANCE POLICIES w rising premiums (https://www.terrysavage.com/ask-terry/life-insurance-policies-w-risingpremiums) Answered on December 17, 2017 Hello, I asked this question a month ago on this website and I am still waiting for advice. My…

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Home payoff or savings account (https://www.terrysavage.com/askterry/home-payoff-savings-account) Answered on December 17, 2017 Hi Terry, My husband is 69 and retired. He receives a small pension (enough to cover our mortgage)…

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Free stock purchase app (https://www.terrysavage.com/ask-terry/freestock-purchase-app) Answered on December 16, 2017 A few weeks ago I asked your thoughts on the Robin Hood application for stock purchases. I don’t…

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CONVERTING 401 PLAN TO IRA (https://www.terrysavage.com/askterry/converting-401-plan-ira) Answered on December 16, 2017 TERRY MY WIFE IS SIXTY AND ON DISABILITY. SHE WAS TOLD SHE HAD TO CONVERT HER 401 PLAN TO AN IRA’…

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Discover Card Offer to Scan The Dark Web (https://www.terrysavage.com/ask-terry/discover-card-offer-scan-darkweb) Answered on December 16, 2017 I’ve had a Discover Card since the 1980’s. Since the Equifax breach occurred, Discover Card is…

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401K (https://www.terrysavage.com/ask-terry/401k-9) Answered on December 16, 2017

I have quite a few 401k plans from previous employers, I feel like my assets are all over the place.

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senior mother credit card (https://www.terrysavage.com/askterry/senior-mother-credit-card) Answered on December 15, 2017 I would like to switch my mother to a credit card with a very low limit just for emergencies. She…

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Reverse mortgages (https://www.terrysavage.com/ask-terry/reversemortgages-5) Answered on December 15, 2017 Terry, i’m 77 years old. I have 4 adult children, of which, 2 have their own homes, 1 is buying a…

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Husband credit consolidation effect my credit score (https://www.terrysavage.com/ask-terry/husband-credit-consolidationeffect-credit-score) Answered on December 15, 2017 My husband has high balances on credit cards and one of them is a joint account which I do no use.

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Retirement (https://www.terrysavage.com/ask-terry/retirement-8) Answered on December 15, 2017

I have enjoyed your financial work for years and never thought some day I would be in this…

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Fee-Based vs Fee-Only Fiduciary Advisor (https://www.terrysavage.com/ask-terry/fee-based-vs-fee-fiduciaryadvisor) Answered on December 14, 2017 My wife and I are 32 and we are shopping around for a financial advisor to help us put together a…

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Should I buy an annuity? (https://www.terrysavage.com/askterry/should-i-buy-an-annuity) Answered on December 14, 2017 Are annuities a good idea for retired people?

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Managed or index accts. for retirement funds? (https://www.terrysavage.com/ask-terry/managed-index-acctsretirement-funds) Answered on December 14, 2017 My hubby and myself are in our late 70s and each have 2 managed funds. One is an S&P 500. I have…

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changes to the tax code (https://www.terrysavage.com/askterry/changes-tax-code) Answered on December 14, 2017 Hi, Terry have watched you for a long time on WGN. My daughter is halfway thru her Junior year of…

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Go Fund Me — taxable to recipient? (https://www.terrysavage.com/ask-terry/go-fund-taxable-recipient) Answered on December 13, 2017

Are funds raised through “Go Fund Me” pages taxable? Recently it was reported on the news that some…

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Withdrawal 401K to payoff debt (https://www.terrysavage.com/askterry/withdrawal-401k-payoff-debt) Answered on December 13, 2017 Hello Terry . I watch you all the time on wgn in the morning and try to follow your advice as best I…

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Student loans — overwhelmed with debt (https://www.terrysavage.com/ask-terry/student-loans-overwhelmeddebt) Answered on December 13, 2017 My daughter graduated college in May and now her student loan grace period is over. She’s got over…

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Young college graduate has first paycheck coming. What do you suggest for him (https://www.terrysavage.com/ask-terry/young-collegegraduate-first-paycheck-coming-suggest) Answered on December 12, 2017 Hi, Terry, I listen to your advice on wgn radio and love your energy and wonderful suggestions. My…

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College Illinois — an alternative? (https://www.terrysavage.com/askterry/college-illinois-alternative) Answered on December 11, 2017 With news of the College Illinois 529 program being halted again, I was hoping you can advise what…

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bitcoins (https://www.terrysavage.com/ask-terry/bitcoins-2) Answered on December 11, 2017

a friend is asking me to invest in bitcoins with him. Is this safe and legal ? Or is it a pyramid…

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estate planning (https://www.terrysavage.com/ask-terry/estateplanning-2) Answered on December 11, 2017 When doing a revocable living trust what is included or necessary within the trust? Seems when you…

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Pay down CC debt when on disability (https://www.terrysavage.com/ask-terry/pay-cc-debt-disability) Answered on December 10, 2017

My daughter has around $15,000 in credit card debt and making minimum payments. She worked as a NICU…

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selling stocks for tax loss (https://www.terrysavage.com/askterry/selling-stocks-tax-loss) Answered on December 10, 2017 I have 2 stocks that are losers Green Hunter Energy and Bretburn Energy. Can I sell them and get a…

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Stockpile.com — For Christmas gift! (https://www.terrysavage.com/ask-terry/stockpile-com-christmas-gift) Answered on December 10, 2017

My first question was the other day what was the name of the website for people that can invest with…

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Financial organizer (https://www.terrysavage.com/ask-terry/financialorganizer-4) Answered on December 10, 2017 How to get your free financial organizer…

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small business special enrollment (https://www.terrysavage.com/askterry/small-business-special-enrollment) Answered on December 10, 2017 Hello, and thank you for your time. I have 2 small businesses and was looking at offering insurance.

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November 2017 Questions & Answers By Terry Savage Commercial Mortgage Bridge Loans (https://www.terrysavage.com/ask-terry/commercial-mortgage-bridgeloans-6) Answered on November 25, 2017 Hello Terry. I am new to your site but not new to listening to you. Are commercial mortgage bridge…

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Whole Life insurance — keep paying? (https://www.terrysavage.com/ask-terry/whole-life-insurance-keeppaying) Answered on November 25, 2017 My husband is 72. He has been paying approximately $1000 a year for Whole Life insurance. He had to…

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Health insurance and ACA (https://www.terrysavage.com/askterry/health-insurance-aca) Answered on November 24, 2017 I retired early at age 62 and need to choose new health coverage. I can get my employer’s retiree…

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Health Insurance for Sole Proprietor (https://www.terrysavage.com/ask-terry/health-insurance-soleproprietor) Answered on November 23, 2017 Good day Terry, My wife (age 47) owns her own business selling agricultural land in southern CA and…

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403b conversions to Roth — tax impact (https://www.terrysavage.com/ask-terry/403b-conversions) Answered on November 22, 2017

I have an older 403B plan from a previous employer. The balance is less than $50,000. I am retired…

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Medicare — must my wife enroll if she has insurance coverage from my job? (https://www.terrysavage.com/ask-terry/medicare-must-wifeenroll-insurance-coverage-job) Answered on November 22, 2017 My wife is currently covered under my job’s insurance. August 2018 she will be 65-even though she…

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Investment of IRA (https://www.terrysavage.com/ask-terry/investmentof-ira) Answered on November 22, 2017 I’ve been retired from USPS now going I to my 3rd year. I have 243,816.00 in my TSP. I withdraw $860…

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Deferred Comp or Roth IRA for 30 Year old (https://www.terrysavage.com/ask-terry/deferred-comp-roth-ira-30year-old) Answered on November 21, 2017 My daughter is looking at investments and retirement. She is 30 years old and has a municipal…

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Moving retirement funds to safe haven (https://www.terrysavage.com/ask-terry/moving-retirement-funds-safehaven) Answered on November 21, 2017 Hi, Terry. I have a Roth IRA with Vanguard worth around 19k, a rollover IRA with TR Price – $89k.

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Whether to continue Universal Life policy (https://www.terrysavage.com/ask-terry/whether-continue-universallife-policy) Answered on November 21, 2017 I’ve had a $28k universal life policy for 30 years. For the past couple years I’ve had to pay up to…

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Enough money for retirement? (https://www.terrysavage.com/askterry/enough-money-retirement) Answered on November 20, 2017 I plan to retire in the next 3-4 years and do not have as much in my 401K plan as I liked. I would…

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“I have met the enemy and they are us!” – Pogo Plan D Coverage (https://www.terrysavage.com/ask-terry/met-enemy-us-pogo-plan-dcoverage) Answered on November 20, 2017 No doubt anyone over 65 will recognize Pogo, and needs to be concerned about the cost of…

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Small business health insurance — help in Chicago area! (https://www.terrysavage.com/ask-terry/small-business-healthinsurance-help-chicago-area) Answered on November 19, 2017 I read your article in the Tribune today. I own a company and am on Medicare. My only employee is my…

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Small biz health insurance special deal (https://www.terrysavage.com/ask-terry/small-biz-health-insurancespecial-deal) Answered on November 19, 2017 A contact was made to a plan at www.eHealthInsurance.com as noted in your 11/13/17 article in…

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Combine my 401K with my employer (A Fidelity account) with my spouses IRA and 401K at Benjamin Edwards (https://www.terrysavage.com/ask-terry/combine-401k-employerfidelity-account-spouses-ira-401k-benjamin-edwards) Answered on November 19, 2017

Hello, Terry! I am a fan and just bought your book, “The Savage Truth on Money”. My husband and I…

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Which savings account is best for kids (https://www.terrysavage.com/ask-terry/savings-account-best-kids) Answered on November 19, 2017

So I want to open a savings account for my kids. I was looking online and noticed a difference in…

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Insurance/annuity company not paying (https://www.terrysavage.com/ask-terry/insuranceannuity-companynot-paying) Answered on November 10, 2017 My husband initially requested a withdrawal in May from a company and they keep stalling on payment.

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Personal financial organizer (https://www.terrysavage.com/askterry/personal-financial-organizer-8) Answered on November 10, 2017 May I receive the download of the free personal financial organizer?

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Recent Bond Article in SD Union Tribute (https://www.terrysavage.com/ask-terry/recent-bond-article-sd-uniontribute) Answered on November 9, 2017 Loved your article on the risks involved and reasons “bonds” are not always safe. My CFP has 30%…

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adding cryptocurrency Roth ira (https://www.terrysavage.com/askterry/adding-cryptocurrency-roth-ira) Answered on November 9, 2017 Hi, I am 69 1/2 and have a self managed Roth ira in a Charles Schwab account and would like to buy a…

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bonds — what’s the danger (https://www.terrysavage.com/askterry/bonds-whats-danger) Answered on November 9, 2017 How can a bond gain 6% interest but lose on its principle?

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credit card and medical debt (https://www.terrysavage.com/askterry/credit-card-medical-debt) Answered on November 9, 2017 Good afternoon, I need help managing my debt (don’t we all). So here is the issue. My husband and I,…

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Online bank accounts (https://www.terrysavage.com/ask-terry/onlinebank-accounts) Answered on November 8, 2017 Are annuities good? What about online banks (Discover) v branch banking (chase) for CD 10K and over?

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ATT old stock certificate (https://www.terrysavage.com/ask-terry/attold-stock-certificate) Answered on November 8, 2017 Found an old ATT stock certificate issued 1962. How do I find out the current value of these shares?

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Joint bank accounts with adult child (https://www.terrysavage.com/askterry/joint-bank-accounts-adult-child) Answered on November 7, 2017 Joint check ing ,, savings accounts with adult child. This child in huge credit card .debt with her…

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Home Equity Line of Credit (https://www.terrysavage.com/askterry/home-equity-line-credit-2) Answered on November 7, 2017 How is it possible to refinance a loan when debt to income is not what banks want, even though home…

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Medicare prescription plans (https://www.terrysavage.com/askterry/medicare-prescription-plans) Answered on November 6, 2017 How do I choose the best Medicare prescription plan?

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MEDICARE Part D if I have NO prescriptions? (https://www.terrysavage.com/ask-terry/medicare-part-d-noprescriptions) Answered on November 6, 2017 I READ YOUR MESSAGE ABOUT PLAN D. I RECEIVED MY MEDICARE CARD IN MAIL AND IT STARTS DEC 1 2017. I…

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How useful is plancompare.medicare.gov? (https://www.terrysavage.com/ask-terry/useful-plancompare-medicaregov) Answered on November 6, 2017 The analysis from this this site is quite an eye opener. If it is to be believed it will save me…

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Web Site for Prescription Drug Plan (https://www.terrysavage.com/askterry/web-site-prescription-drug-plan) Answered on November 6, 2017 Can you tell me the web site I should look on where I insert the drugs I currently take and the most…

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Small business health plan (https://www.terrysavage.com/askterry/small-business-health-plan) Answered on November 5, 2017 You talked about this in WGN when will it be online? Thanks…

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medicare part d comparisons links (https://www.terrysavage.com/askterry/medicare-part-d-comparisons-links) Answered on November 5, 2017 I just heard you on WGN. your discussion about part d named 2 sites: medicare.gov and…

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Proposed Tax Reforms (https://www.terrysavage.com/askterry/proposed-tax-reforms) Answered on November 5, 2017 I would be interested in your initial reaction to the more significant tax change proposals being…

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Medicare part D as discussed with Steve Bertrand on WGN Noon show this last week (https://www.terrysavage.com/ask-terry/medicarepart-d-discussed-steve-bertrand-wgn-noon-show-last-week) Answered on November 5, 2017

You said that there was a site we could go to and put in the meds and dosages and the site would…

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Financial Organizer (https://www.terrysavage.com/ask-terry/financialorganizer-3) Answered on November 5, 2017 Can I still download your Personal financial Organizer form? I couldn’t find it on your home page.

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College scholarships (https://www.terrysavage.com/ask-terry/collegescholarships) Answered on November 1, 2017 What are the two websites you talked about on WGN for college scholarships?

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October 2017 Questions & Answers By Terry Savage Money investments (https://www.terrysavage.com/ask-terry/moneyinvestments) Answered on October 30, 2017 Hi Terry, Heard u in wgn. We have about $$50,000 invested in CDs. Thats the only investment we have.

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credit cards (https://www.terrysavage.com/ask-terry/credit-cards-4) Answered on October 30, 2017

How do I go about canceling credit cards I haven’t used in years and don’t intend to use again? I…

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College Student Cashing Bonds (https://www.terrysavage.com/askterry/college-student-cashing-bonds) Answered on October 29, 2017 My son is in his 3rd year of college and is interested in studying abroad next semester. When he was…

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401 Stable Value Funds (https://www.terrysavage.com/ask-terry/401stable-value-funds) Answered on October 28, 2017 All 401 programs must have a “safe fund”….a money market fund or stable value fund. How safe are…

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RMD reinvestment (https://www.terrysavage.com/ask-terry/rmdreinvestment) Answered on October 28, 2017 I am 70 1/2 and required to begin withdrawing from my IRAs. I have a pension, have no debts, and do…

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Credit card debt, soon no place to live (https://www.terrysavage.com/ask-terry/credit-card-debt-soon-noplace-live) Answered on October 28, 2017 Hi Terry!! My husband and I rent. He got hurt at work and was out for 6 months. During that time I…

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401k (https://www.terrysavage.com/ask-terry/401k-8) Answered on October 27, 2017

What is the best thing to do with your employers 401k account when you retire and leave the company?

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Crypto-currencies like Bitcoin (https://www.terrysavage.com/askterry/crypto-currencies-like-bitcoin) Answered on October 27, 2017 I’ve been hearing a lot about crypto-currencies lately. They seem to be the latest version of…

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Annuity quotes (https://www.terrysavage.com/ask-terry/annuity-quotes) Answered on October 27, 2017

I believe it was you some time ago that mentioned a person that had a web site for annuities where…

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Social security (https://www.terrysavage.com/ask-terry/social-security3) Answered on October 26, 2017 Hi Terry, What book do you recommend about social security that is easy to read and understand?

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International stocks (traded on Aussie Exchange) (https://www.terrysavage.com/ask-terry/international-stocks-tradedaussie-exchange) Answered on October 26, 2017 I’d received stocks from an Australian company as part of my compensation package, years ago. 5…

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investment in commercial mortgage bridge loans? (https://www.terrysavage.com/ask-terry/investment-commercialmortgage-bridge-loans) Answered on October 26, 2017 I’m 67 still working self-employed. Slowing down though. What do you think on this investment…

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senior debt (https://www.terrysavage.com/ask-terry/senior-debt) Answered on October 26, 2017

HI I contacted Debt Counsel for Seniors and the Disabled for my mother, but they are closed. She has…

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Parent’s Plus Loan (https://www.terrysavage.com/ask-terry/parentsplus-loan) Answered on October 25, 2017 $60,000 in parent’s plus loan – first payment due November, 2017. Would like to pay off with 401K…

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Credit joint account removal ! (https://www.terrysavage.com/askterry/credit-joint-account-removal) Answered on October 25, 2017 Hi Terry good morning !I just recently was added to my wife’s credit card, Honestly I don’t know why…

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Fixed Indexed Annuity (https://www.terrysavage.com/ask-terry/fixedindexed-annuity) Answered on October 25, 2017 I am nearing retirement and was one of the first 5 callers to win a $3000 consultation for free on a…

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Social Security and teacher retirement (https://www.terrysavage.com/ask-terry/social-security-teacherretirement) Answered on October 24, 2017 I will be retiring within a couple years. My wife is a retired Illinois grade school teacher. When I…

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U.S. Saving Bonds (https://www.terrysavage.com/ask-terry/u-s-savingbonds) Answered on October 24, 2017 Should we buy Bonds for our Grandchildren?

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Personal organizer form (https://www.terrysavage.com/askterry/personal-organizer-form) Answered on October 24, 2017 Where can I print the personal organizer form ?

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Recently sold house and investing proceeds. (https://www.terrysavage.com/ask-terry/recently-sold-house-investingproceeds) Answered on October 23, 2017 I was told by my financial planner there is a 1.5 % charge for investment into diversified funds for…

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what to do with money for children, grandchildren? (https://www.terrysavage.com/ask-terry/money-children-grandchildren) Answered on October 23, 2017

I am a 77 yr old single woman who only has money in a bank and 2 cd’s. should i start putting small…

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TRANSUNION ILLEGAL $19.95 CHARGE (https://www.terrysavage.com/ask-terry/transunion-illegal-19-95charge) Answered on October 23, 2017 FYI: RE EMAIL I SENT A WEEK OR SO AGO: DECIDED TO TRY TO GET REFUND. GIRL AT TRANSUNION SAID SHE…

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safest way to enter a credit freeze via phone or on their website (https://www.terrysavage.com/ask-terry/safest-way-enter-credit-freezevia-phone-website) Answered on October 23, 2017 Things are so bad you don’t know if you are actually talking to the company you’ll calling ( or the…

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Credit Card Report (https://www.terrysavage.com/ask-terry/credit-cardreport) Answered on October 23, 2017 How do I freeze my credit card reports and get a free credit score report from all 3 sources. I am…

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Stock market current surge (https://www.terrysavage.com/askterry/stock-market-current-surge) Answered on October 22, 2017 Age 69 1/2 I plan on working for 3-4 years more should you move a large amount of investment to cash…

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401k Borrowing to buy home (https://www.terrysavage.com/askterry/401k-borrowing-buy-home) Answered on October 22, 2017 I’m considering borrowing $25000 from my 401k to purchase a home. I plan on selling my condo and…

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My financial planner suggests . . . (https://www.terrysavage.com/askterry/financial-planner-suggests) Answered on October 22, 2017 Terry, I am 66 and plan to work until I am 70. I am in the 28% tax bracket and have 50% of my non…

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my sons student loan – -help! (https://www.terrysavage.com/askterry/sons-student-loan-help) Answered on October 18, 2017 my son took out a gov. student loan quite a few years ago. maybe 3 or 4. I wasn’t aware of it at the…

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Investment Management Fees (https://www.terrysavage.com/askterry/investment-management-fees) Answered on October 17, 2017 I am a retired conservative and by choice passive investor. On your recommendation I have…

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where is the place i can click on to print organizer form? (https://www.terrysavage.com/ask-terry/place-can-click-print-organizerform) Answered on October 17, 2017 print Personal Financial Organizer Form…

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Best credit card for earning miles for travel (https://www.terrysavage.com/ask-terry/best-credit-card-earning-milestravel) Answered on October 16, 2017 My husband and I are looking for a credit card that will earn miles for airline travel. Which one is…

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529 plan on fafsa (https://www.terrysavage.com/ask-terry/529-planfafsa) Answered on October 16, 2017 I make much more money than my ex-husband and I am the account owner of my daughters 529 plan. My ex…

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Equifax-quick question (https://www.terrysavage.com/askterry/equifax-quick-question) Answered on October 15, 2017 we would like to freeze our credit account due to the Equifax data breach. Do you have to contact…

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Reverse Mortgage (https://www.terrysavage.com/ask-terry/reversemortgage-7) Answered on October 15, 2017 I feel that I have no choice but to get a reverse mortgage on my house. I am on the verge of filing…

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Something better than Quicken (https://www.terrysavage.com/askterry/something-better-quicken) Answered on October 15, 2017 Hello Terry! I love all of your advice on WGN Morning News and I finally have a question for you.

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Retirement (https://www.terrysavage.com/ask-terry/retirement-7) Answered on October 5, 2017

I’m am 56 with 30 years of employment . Which at this point I can retire but want to make sure I…

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Incorrect history info on one account on Equifax credit report (https://www.terrysavage.com/ask-terry/incorrect-history-info-oneaccount-equifax-credit-report) Answered on October 5, 2017 Should I dispute incorrect historical info on one of my accounts in my Equifax credit report? The…

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Finding a stock broker (https://www.terrysavage.com/ask-terry/findingstock-broker) Answered on October 5, 2017 You had an article about finding a broker. Not just a stock broker but a __________ – a “better”…

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Living Trust Savings Bonds Limit (https://www.terrysavage.com/askterry/living-trust-savings-bonds-limit) Answered on October 4, 2017 Is there an $$ amount limit on savings bonds that can be in a living trust?

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H4 visa : admission for undergraduate courses (https://www.terrysavage.com/ask-terry/h4-visa-admissionundergraduate-courses) Answered on October 4, 2017 Hi Terry, My daughter is a Senior in high school in New Jersey on H4 visa. My husband, her father…

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FASFA and credit freeze (https://www.terrysavage.com/askterry/fasfa-credit-freeze) Answered on October 3, 2017 My daughter just put a freeze on her credit through Equifax, because we read on their website her…

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Identity Theft of Property Title? (https://www.terrysavage.com/askterry/identity-theft-property-title) Answered on October 3, 2017 I am now hearing commercials for “Home Title Lock” protection at about $10/month. Is that really…

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Equifax (https://www.terrysavage.com/ask-terry/equifax-2) Answered on October 3, 2017

I saw you on WTTW and put out a fraud alert like you advised and each agency got back to me stating…

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credit freeze denied (https://www.terrysavage.com/ask-terry/creditfreeze-denied) Answered on October 3, 2017 While two of the three credit reporting companies quickly and easily processed my request for a…

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Fouth Credit Reporting Agency and Freezing Credit (https://www.terrysavage.com/ask-terry/fouth-credit-reporting-agencyfreezing-credit) Answered on October 3, 2017 I read there is a fourth credit reporting agency, Innovis…

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equifax breach (https://www.terrysavage.com/ask-terry/equifax-breach) Answered on October 3, 2017

Having trouble on line to contact Equifax regarding the freeze Thank you Gail…

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scholarships (https://www.terrysavage.com/ask-terry/scholarships) Answered on October 2, 2017

What are the easiest scholarships available to apply for…

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Late start with Retirement savings (https://www.terrysavage.com/askterry/late-start-retirement-savings) Answered on October 2, 2017 Hi Terry, I’m in my 50’s and I have some cash in my 401 but nearly not enough to retire on. How can…

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Consolidation loan (https://www.terrysavage.com/askterry/consolidation-loan) Answered on October 2, 2017 Is it a good idea to take out a loan to pay off credit cards and students loans so that I would only…

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September 2017 Questions & Answers By Terry Savage Equifax breach and checking/saving accounts? (https://www.terrysavage.com/ask-terry/equifax-breachcheckingsaving-accounts) Answered on September 27, 2017 Could the Equifax breach harm my checking and saving accounts? How can I protect them?

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Pension with prior employer (https://www.terrysavage.com/askterry/pension-prior-employer) Answered on September 26, 2017 Hi Terry, loved you for years! I left an employer that I worked for seven years and I left my…

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Insurance checkup presented 9/20 WGN (https://www.terrysavage.com/ask-terry/insurance-checkup-presented920-wgn) Answered on September 25, 2017 what is the site or howto do a checkup on whole life policies policies?

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Should I freeze my credit if I am in the process of applying for a auto loan? (https://www.terrysavage.com/ask-terry/freeze-credit-processapplying-auto-loan) Answered on September 25, 2017 I am in the process of purchasing a new car. I will need to finance a portion of the total cost.

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roll over my 403k from employer to an ira and invest in bonds (https://www.terrysavage.com/ask-terry/roll-403k-employer-ira-investbonds) Answered on September 24, 2017 Hi Terry I met with a financial advisor today She’s from Wintrust. She recommends that i roll over…

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Credit monitoring needed after credit freeze? (https://www.terrysavage.com/ask-terry/credit-monitoring-neededcredit-freeze) Answered on September 24, 2017 Should I consider using LifeLock? If so should I hit my credit freeze before or after signing up for…

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Retired need safe investment, no taxes (https://www.terrysavage.com/ask-terry/retired-need-safe-investmentno-taxes) Answered on September 24, 2017 I’m 58 and retired. I have money to invest but don’t want risk exposure to a roller coaster market.

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Tax Advantages of ETF’s over Mutual Funds. (https://www.terrysavage.com/ask-terry/tax-advantages-etfs-mutualfunds) Answered on September 19, 2017 Once a person reaches 70 1/2 years of age and must start withdrawing from his/her IRA, the urgent…

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Credit Freeze vs Lifelock (https://www.terrysavage.com/askterry/credit-freeze-vs-lifelock) Answered on September 18, 2017 Hi Terry, Thanks for all of your guidance regarding the credit breach. If I already have LifeLock,…

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Can the Equifax breach have any effect on deposit accounts i.e. CDs,401s,IRAs brokerage. (https://www.terrysavage.com/askterry/can-equifax-breach-effect-deposit-accounts-e-cds401sirasbrokerage) Answered on September 18, 2017 Can the Equifax breach reveal any information that could be used to effect deposit accounts such as…

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Equifax (https://www.terrysavage.com/ask-terry/equifax) Answered on September 18, 2017

Good Morning Ms. Savage, I enjoy reading your articles in the Tampa Bay Times. Sunday you discussed…

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Reallocating funds (https://www.terrysavage.com/askterry/reallocating-funds) Answered on September 16, 2017 Is it true as you get older (I am 70) that your allocations should be adjusted to reflect 70% in…

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Gifting cash to adult children (https://www.terrysavage.com/askterry/gifting-cash-adult-children) Answered on September 16, 2017 How much cash can I give adult children with no tax paid by them?

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Credit Bureaus jammed — Can’t Freeze! (https://www.terrysavage.com/ask-terry/credit-bureaus-jammed-cantfreeze) Answered on September 16, 2017 I have tried several times to freeze my Equixfax credit report online and was unable to do so. The…

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credit monitoring — compare services (https://www.terrysavage.com/ask-terry/credit-monitoring-compareservices) Answered on September 16, 2017 Credit Karma offers free monitoring. Is their monitoring service as good as the companies that…

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credit monitoring (https://www.terrysavage.com/ask-terry/creditmonitoring-2) Answered on September 16, 2017 If you put a freeze on your credit report and also have credit monitoring, will you be made aware if…

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Loans/mortgage/retirement (https://www.terrysavage.com/askterry/loansmortgageretirement) Answered on September 15, 2017 Terry, I currently have 26,000 in loans that I am ahead on paying by 2,000$. I have a mortgage that…

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Stock (https://www.terrysavage.com/ask-terry/stock) Answered on September 14, 2017

Have 400 shares of. Merck. And 400 shares of Altro (MO ) . They have double in price since I bought…

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Reverse Mortgage your article of May 30 2017 (https://www.terrysavage.com/ask-terry/reverse-mortgage-article-may30-2017) Answered on September 13, 2017 I am in the same position at your father – not quite understanding how the loan, and principal limit…

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401 K – 25 Years Old (https://www.terrysavage.com/ask-terry/401-k25-years-old) Answered on September 13, 2017 I am currently things about the way my 401 K is distributed. I have not touched it since my company…

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Retirement vs. Luxury Car (https://www.terrysavage.com/askterry/retirement-vs-luxury-car) Answered on September 13, 2017 Hi Terry. I’m hoping you can help me make a decision. I’m currently making six figures at my current…

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Pensions buyout? (https://www.terrysavage.com/ask-terry/pensionsbuyout) Answered on September 13, 2017 I have a small pension from Sears and they have offered me a lump sum. I am 62 and planned to start…

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401k (https://www.terrysavage.com/ask-terry/401k-7) Answered on September 12, 2017

i have a 401k worth 84000.00, should i leave it alone or look for other options (ira)?

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Identity Theft Protection (https://www.terrysavage.com/askterry/identity-theft-protection) Answered on September 12, 2017 Terry, What is your opinion of the companies offering identity theft protection for a monthly fee?

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Investment advice (https://www.terrysavage.com/ask-terry/investmentadvice-2) Answered on September 11, 2017 Terry, I recently sold some real estate and need to know where to invest so I can supplement my…

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Pending Retirement with 401k in mind. (https://www.terrysavage.com/ask-terry/pending-retirement-401k-mind) Answered on September 11, 2017

I am 60, possibly retiring between 68 and 70. What is the best investment strategy now, for my 401k,…

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Life Insurance (https://www.terrysavage.com/ask-terry/life-insurance-5) Answered on September 11, 2017

Soon to turn 65 and have term insurance enough for burial. Now getting mail saying universal life is…

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Credit card debt (https://www.terrysavage.com/ask-terry/credit-carddebt-7) Answered on September 10, 2017 I just watched you on the news and you stated that paying the minimum will take 30 years to pay off.

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Personal financial organizer form download, NOT found!!!!! (https://www.terrysavage.com/ask-terry/personal-financial-organizerform-download-not-found) Answered on September 10, 2017 Unable to find your promised personal organizer form to download????

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Credit Freeze? (https://www.terrysavage.com/ask-terry/credit-freeze) Answered on September 10, 2017

Due to the Equifax data breach, my husband and I have received our credits reports and placed fraud…

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COLLEGE SAVINGS (https://www.terrysavage.com/ask-terry/collegesavings-3) Answered on September 10, 2017 Hello Terry, Thank your helpful advice on College 529 Savings. My question is: I am Illinois…

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INVESTMENT for a young mom (https://www.terrysavage.com/askterry/investment-young-mom) Answered on September 9, 2017 Hello Terry, I am a mother of a 3yr old going 4 on 11/02/17. I live on Paycheck-toPaycheck but…

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August 2017 Questions & Answers By Terry Savage Where to invest money from life insurance (https://www.terrysavage.com/ask-terry/invest-money-life-insurance) Answered on August 24, 2017

My father recently died and had a life insurance policy for my brothers and myself. We’ve received…

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Aug 21 column on Target Date Investing (https://www.terrysavage.com/ask-terry/aug-21-column-target-dateinvesting) Answered on August 24, 2017 Ron Surz recommends a 10 percent exposure to stocks in the period 5 years before and after…

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457 stay in it or move my money to Fedelity or Vangard (https://www.terrysavage.com/ask-terry/457-stay-move-money-fedelityvangard) Answered on August 24, 2017 I just retired on the 18th. I have a good sum of money in my 457. They have some good funds and…

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how to save on fees when moving money out of country (https://www.terrysavage.com/ask-terry/save-fees-moving-moneycountry) Answered on August 24, 2017 I am moving to France in a few weeks. I will be moving my savngs from my U.S. bank checking account…

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Use Roth IRA assets to get a deduction? (https://www.terrysavage.com/ask-terry/use-roth-ira-assets-getdeduction) Answered on August 19, 2017 Terry, With your help 10 years ago, I was able to move $140,000 from a traditional IRA to a Roth…

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Taxation of Dividends (https://www.terrysavage.com/ask-terry/taxationof-dividends) Answered on August 18, 2017 “Since there is no special taxation benefit for dividends on stocks these days, it really doesn’t…

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Student loans — a fraudulent deal? (https://www.terrysavage.com/askterry/student-loans-fraudulent-deal) Answered on August 18, 2017 Hi Terry – my son went to a private university for two years and had wanted to be a physics major.

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Best cash back credit cards (https://www.terrysavage.com/askterry/best-cash-back-credit-cards) Answered on August 17, 2017 Looking for the best cash back credit card. We have excellent credit, 800+. Thank you…

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UGMA/UTMA for college money (https://www.terrysavage.com/askterry/ugmautma-college-money) Answered on August 17, 2017 As a grandfather, do I need to transfer my UTMA NY custodial funds to my daughter-inlaw, because my…

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Spouse ill; too many questions! (https://www.terrysavage.com/askterry/spouse-ill-many-questions) Answered on August 16, 2017 I have so many credit cards. Several that I don’t use anymore. I would like to get rid of some of…

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Brightstart IL – vanguard option (https://www.terrysavage.com/askterry/brightstart-il-vanguard-option) Answered on August 16, 2017 hi Terry, you mentioned a particular unscrupulous fund advisor in the BrightStart IL 529, but what…

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Turned 70, old accounts; what to do (https://www.terrysavage.com/ask-terry/turned-70-old-accounts) Answered on August 15, 2017

Recently turned 70. Have $10,000 in old 401k from past employer. Also have $10,000 in retirement…

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What is the best way to pay off debt? (https://www.terrysavage.com/ask-terry/best-way-pay-off-debt) Answered on August 15, 2017

How can I quickly pay off credit card debt and good saving tips ith good intererst paid…

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Ira withdrawals and tax brackets (https://www.terrysavage.com/askterry/ira-withdrawals-tax-brackets) Answered on August 15, 2017 I am 67 and retired 2 years ago. I am living on SS and savings so far. I paid no income tax last…

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Help — drowning in debt! (https://www.terrysavage.com/ask-terry/helpdrowning-debt) Answered on August 15, 2017 We have gotten ourselves into a big debt hole. We have to refinance our house before december in…

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Mortgage refund? a Scam? (https://www.terrysavage.com/askterry/mortgage-refund-scam) Answered on August 14, 2017 Dear Terry. Have you ever heard of a program that can refund money to homeowners with a mortgage…

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Grocery store stock worth millions! Sell?? (https://www.terrysavage.com/ask-terry/grocery-store-stock-worthmillions-sell) Answered on August 14, 2017 My late father in law invested heavily in Publix, a private grocery store. (It used to be open to…

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Finding Your Financial Organizer Form (https://www.terrysavage.com/ask-terry/finding-financial-organizerform) Answered on August 14, 2017 I read Bob Dyer’s 518/17 column in the Akron (OH) Beacon Journal. He mentioned that you have created…

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where to get my credit score (https://www.terrysavage.com/askterry/get-credit-score) Answered on August 14, 2017 Hi Terry, Where can I get a free credit score rating? Thanks for you help!

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Retirement Check-up (https://www.terrysavage.com/askterry/retirement-check-up) Answered on August 14, 2017 My husband’s 401K is managed by a company his firm has engaged. We think they have done a pretty…

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Reverse mortgage for second home? (https://www.terrysavage.com/ask-terry/reverse-mortgage-secondhome) Answered on August 8, 2017 Hi Terry. Could a reverse mortgage be used for a second residence? We have most of our extended…

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Dividends in Stock Retirement Plan (https://www.terrysavage.com/askterry/dividends-stock-retirement-plan) Answered on August 7, 2017 I have a stock retirement pension plan with my previous company and I was wondering if the dividends…

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mortgage bridge loan (https://www.terrysavage.com/askterry/mortgage-bridge-loan) Answered on August 6, 2017 so do you have info for me to know if this knowls recommended by Jordan Goodman has had any bad…

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alternative investments to stocks (https://www.terrysavage.com/askterry/alternative-investments-stocks) Answered on August 6, 2017 What are some good options to move my investments into, if adjusting my money out of stock funds. I…

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30 year old mature U.S.saving bonds (https://www.terrysavage.com/ask-terry/30-year-old-mature-u-s-savingbonds) Answered on August 6, 2017 We are a couple in our late 70²s and have several SERIES E U.S. SAVING BONDS that are at the 30 year…

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Student loans for grad school (https://www.terrysavage.com/askterry/student-loans-grad-school) Answered on August 6, 2017 Hello Terry – I need to take out a federal student loan for my graduate degree and I have been…

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Uber driver needs tax advice (https://www.terrysavage.com/askterry/uber-driver-needs-tax-advice) Answered on August 5, 2017 As a self employed uber driver how much money should I put aside to cover federal, state, social…

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Rolling over retirement funds. (https://www.terrysavage.com/askterry/rolling-retirement-funds) Answered on August 5, 2017 Rolling over an ira from my old job into my new job’s deferred comp, I was asked if I wanted the…

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CREDIT SCORE (https://www.terrysavage.com/ask-terry/credit-score3) Answered on August 5, 2017 HOW DO I BUILD MY CREDIT SCORE WITH NO CREDIT HISTORY.

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July 2017 Questions & Answers By Terry Savage 401.k (https://www.terrysavage.com/ask-terry/401-k) Answered on July 28, 2017

I have a 401.k with my employer is it better to have this money in my IRA. I’m 57…

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Buy or rent vacation home (https://www.terrysavage.com/askterry/buy-rent-vacation-home) Answered on July 27, 2017 I own a home in Illinois and would like to move to AZ for the winter. I can afford to purchase a…

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Article: June 12, 2017 “Pay attention to retirement account fees” (https://www.terrysavage.com/ask-terry/article-june-12-2017-payattention-retirement-account-fees) Answered on July 27, 2017 Ms. Savage, In regard to the fiduciary rule discussed in your June 12, 2017 article, I was wondering…

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EEbonds (https://www.terrysavage.com/ask-terry/eebonds) Answered on July 27, 2017

ithey are old.what do ineed to know befoire cashing them???

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checklist in case your spouse dies/Financial Organizer (https://www.terrysavage.com/ask-terry/checklist-case-spousediesfinancial-organizer) Answered on July 27, 2017 Have you created a financial checklist that covers all the information I might need in case of death…

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401k (https://www.terrysavage.com/ask-terry/401k-6) Answered on July 26, 2017

I’ll be rolling over a 401k to an investment firm, a friend suggested LPL financial. Is this a good…

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College student — How Much to Put into 403(b) from part-time job (https://www.terrysavage.com/ask-terry/college-student-much-put403b-part-time-job) Answered on July 26, 2017 Dear Terry, I recently started a new job that offers a retirement (403b). I am 19 years old going to…

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Securing a bright Financial Future for my small child who is autistic (https://www.terrysavage.com/ask-terry/securing-bright-financial-futuresmall-child-autistic) Answered on July 25, 2017 Good Morning Terry, I am looking for the best way(s) to save for my son’s future. He is 5 years old…

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Investment (https://www.terrysavage.com/ask-terry/investment-5) Answered on July 24, 2017

I am 23 and have lightly babbled with investing via Robinhood for over a year now. Would you suggest…

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Student Loan Fraud –Where is Your Column? (https://www.terrysavage.com/ask-terry/student-loan-fraud-column) Answered on July 24, 2017

What happened to your report that was to be on WGN at 4:00 today, 7/19/17? On student loan fraud. Is…

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Parent Plus Loan Repayment/Disability (https://www.terrysavage.com/ask-terry/parent-plus-loanrepaymentdisability) Answered on July 24, 2017 Hello Terry, My husband took out Parent Plus loans for our son’s college tuition. Since doing that,…

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Denied health claim (https://www.terrysavage.com/ask-terry/deniedhealth-claim) Answered on July 24, 2017 Who do I contact concerning a denied health claim by my insurance? Is there a reputable lawyer or…

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Tax brackets (https://www.terrysavage.com/ask-terry/tax-brackets) Answered on July 23, 2017

My husband has a pension coming from a previous job that he quit 20 years ago to go to work at…

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student loan (https://www.terrysavage.com/ask-terry/student-loan-4) Answered on July 23, 2017

why not discuss lost paper work in student loan collections? many loans are not collectable because…

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credit card asks me to update profile online? (https://www.terrysavage.com/ask-terry/credit-card-asks-updateprofile-online) Answered on July 23, 2017 Just received a notice from my Discover card, asking me to call or go online to update my profile,…

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On Wendsday New Young Stock Investors (https://www.terrysavage.com/ask-terry/wendsday-new-young-stockinvestors) Answered on July 23, 2017 What was the web site that you mentioned on WGN news that new investors should check out ?

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Bright Start (https://www.terrysavage.com/ask-terry/bright-start-2) Answered on July 23, 2017

Hi Terry – I just moved back to the US and started a Bright Start account for our daughter. It seems…

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Senior Homeowner Exemption (https://www.terrysavage.com/askterry/senior-homeowner-exemption) Answered on July 15, 2017 What exactly qualifies someone for a senior homeowner exemption? Is it simply the age of 65 or does…

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T Rowe Price and Vanguard (https://www.terrysavage.com/ask-terry/trowe-price-vanguard) Answered on July 14, 2017 We are currently with a bank and previously were with Schwab. We are thinking of changing. Can you…

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reverse mortgage (https://www.terrysavage.com/ask-terry/reversemortgage-6) Answered on July 13, 2017 Hi, Trying to get info as to what is needed to apply for a reverse mortgage. I’m 68,single and about…

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529’s (https://www.terrysavage.com/ask-terry/529s-2) Answered on July 13, 2017

Several weeks ago, you had a very thorough column on 529 accounts. Where can I find a copy of that…

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Life insurance — how much is “enough”? (https://www.terrysavage.com/ask-terry/life-insurance-much-enough) Answered on July 12, 2017

How much life insurance should our son have? He is 35 years old, married, and has one child. He…

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Pension lump sum or monthly (https://www.terrysavage.com/askterry/pension-lump-sum-monthly) Answered on July 11, 2017 I’m 66 yrs old and in good health. how do u decide if it s better to take pension as lump sum or…

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Ex-Husband Ruined my Credit by Cancelling my Credit Cards (https://www.terrysavage.com/ask-terry/ex-husband-ruined-creditcancelling-credit-cards) Answered on July 11, 2017 Hi Terry, Last year my husband of 30 years filed for divorce. My Husband became upset with me and…

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Retirement (https://www.terrysavage.com/ask-terry/retirement-6) Answered on July 11, 2017

I currently owe $160,00 on my condo. I am 64 this year. I earn 50-60k in a job that I am not limited…

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My child wants to invest (https://www.terrysavage.com/ask-terry/childwants-invest) Answered on July 11, 2017 My 16 year old would like to start investing in stocks. What is the best way for him to begin…

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should we buy or rent in our 50’s (https://www.terrysavage.com/askterry/buy-rent-50s) Answered on July 4, 2017 my husband and i are in our early 50’s and neither of us are in stellar health, he has diabetes and…

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June 2017 Questions & Answers By Terry Savage Personal Financial Organizer Form (https://www.terrysavage.com/askterry/personal-financial-organizer-form-5) Answered on June 18, 2017 Terry, I am trying to get a copy of the above form, but haven’t been able to sign up to receive a…

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Financial Advisor Fiduciary Duty — A Sad Story! (https://www.terrysavage.com/ask-terry/financial-advisor-fiduciary-dutysad-story) Answered on June 18, 2017 In May 2013, I gave Merrill Lynch an IRA worth $103,000. The VP/Senior Financial Advisor on the…

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Reverse Mortgage with Younger Spouse (https://www.terrysavage.com/ask-terry/reverse-mortgage-youngerspouse) Answered on June 18, 2017 I’M 74 yrs. old,and was wondering if a reverse mort. is a good thing? My home is paid for and have…

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internet jobs (https://www.terrysavage.com/ask-terry/internet-jobs) Answered on June 6, 2017

Hello Terry, I am retired and would be interested in working from home. Internet business seems like…

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personal financial organizer (https://www.terrysavage.com/askterry/personal-financial-organizer-7) Answered on June 5, 2017 I would like copy of personal financial organizer…

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inheritance and how to use it for retirement (https://www.terrysavage.com/ask-terry/inheritance-use-retirement) Answered on June 4, 2017

Terry, My mom recently passed way and left us kids about 60K each. I am 50 years old and would like…

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Your Reverse Mortgage column — Thanks from an RM consultant! (https://www.terrysavage.com/ask-terry/reverse-mortgage-columnthanks-rm-broker) Answered on June 3, 2017 Hi Terry, I’ve enjoyed your column very much over the years. I was pleasantly surprised this week…

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reverse mortgage, senior nursing care (https://www.terrysavage.com/ask-terry/reverse-mortgage-seniornursing-care) Answered on June 3, 2017 Hi Terry We are trying to get my mother-in-law into a Chgo nursing home. She is 94, has alzheimer’s,…

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New Labor Department rule concerning fees for IRA trades and broker standards (https://www.terrysavage.com/ask-terry/new-labordepartment-rule-concerning-fees-ira-trades-broker-standards) Answered on June 1, 2017

My broker has suggested that I agree to a new fee process wherein I would pay an annual percentage…

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Money for first time home buyers or qualified buyers. Can’t remember (https://www.terrysavage.com/ask-terry/money-first-time-home-buyersqualified-buyers-cant-remember) Answered on June 1, 2017 My daughter and her new husband are getting ready to look for a home. Awhile ago I heard you on WGN…

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May 2017 Questions & Answers By Terry Savage Consolidation loans (https://www.terrysavage.com/askterry/consolidation-loans-2) Answered on May 31, 2017 Interested in a consolidation loan, about $3000 of debt, and my credit is less than perfect. Small…

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529s and grandparents (https://www.terrysavage.com/ask-terry/529sand-grandparents) Answered on May 31, 2017 Terry. . . not a question, just a comment. In today’s column in the San Diego UT, you didn’t mention…

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Bit Coins — a ripoff? (https://www.terrysavage.com/ask-terry/bit-coinsripoff) Answered on May 30, 2017 Hi Terry. My 16 year old son just spilled, unknowingly, all about his investments in bit coins. I…

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Chicken money at 6%??? (https://www.terrysavage.com/askterry/chicken-money-6) Answered on May 30, 2017 I have $ 57,000 sitting in a Money Market after selling my home.I was looking at Knowles System who…

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Personal Financial Organizer (https://www.terrysavage.com/askterry/personal-financial-organizer-6) Answered on May 29, 2017 I would like a copy of the Personal Financial Organizer form that you mentioned in your April 30,…

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Question on: CD’s from internet banks By Terry Savage on May 9, 2017 | Chicken Money (https://www.terrysavage.com/askterry/question-cds-internet-banks-terry-savage-may-9-2017-chickenmoney) Answered on May 29, 2017 I read this post and wonder about what to ask internet banks regarding death of the CD holder and…

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Early Profit Sharing Pan withdawl (https://www.terrysavage.com/askterry/early-profit-sharing-pan-withdawl) Answered on May 29, 2017 i am a 45yo that recently terminated 9 years employment from a small company that made contributions…

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reaching social security age (https://www.terrysavage.com/askterry/reaching-social-security-age) Answered on May 25, 2017 This is an answer, not a question: The one social security alternative I haven’t seen you mention…

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Rebalancing article (https://www.terrysavage.com/askterry/rebalancing-article) Answered on May 25, 2017 Can you talk about tax implications of rebalancing . Last time I rebalanced I got whacked hard with…

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Personal financial Organizer form (https://www.terrysavage.com/askterry/personal-financial-organizer-form-3) Answered on May 23, 2017 where on your website is the Personal Financial Organizer mentioned in your column in the April 30…

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commercial real estate income funds (https://www.terrysavage.com/ask-terry/commercial-real-estateincome-funds) Answered on May 23, 2017 Financial Planner Jordan Goodman was recently on WGN’s Steve Cochran’s radio show recommending…

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Where to start? I need an investment primer! (https://www.terrysavage.com/ask-terry/start-need-investment-primer) Answered on May 15, 2017

Embarrassingly it’s taken too long, but I need to understand what’s going on with my money and…

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Credit score concerns (https://www.terrysavage.com/ask-terry/creditscore-concerns) Answered on May 15, 2017 My husband and I bought a house and renovated it. We ran out of money and still had to do the…

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Monthly increase in SS (https://www.terrysavage.com/askterry/monthly-increase-ss) Answered on May 14, 2017 Will my monthly social security continue to increase if I defer but do not work past age 63 ?

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debt consolidation (https://www.terrysavage.com/ask-terry/debtconsolidation-3) Answered on May 14, 2017 Can you give me the name or names of reputable debt consolidation companies? I greatly appreciate…

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Medicare payment when not on Social Security yet (https://www.terrysavage.com/ask-terry/medicare-payment-not-socialsecurity-yet) Answered on May 13, 2017 Good Morning, I will apply for Medicare at 65 (all parts). However, I plan to take Social Security…

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Help Us Make a Deal to Share a House Purchase (https://www.terrysavage.com/ask-terry/help-us-make-deal-sharehouse-purchase) Answered on May 13, 2017 Would you be willing to comment on this Buy/Sell agreement between me and my significant other whom…

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Illinois bright start (https://www.terrysavage.com/ask-terry/illinoisbright-start) Answered on May 13, 2017 Terry, Is there a better fund to invest money for grandchildren’s education? I am with scottrade and…

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401k expenses (https://www.terrysavage.com/ask-terry/401kexpenses) Answered on May 13, 2017 My question is in regard to “Total investment expenses: 0.120% $1.20 (per $1,000 invested). .120%…

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Fidelity Credit Card Points redemption (https://www.terrysavage.com/ask-terry/fidelity-credit-card-pointsredemption) Answered on May 13, 2017 A while ago, we started using a Fidelity CC that accumulated points that could be rolled into an IRA…

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Elderly investment strategy (https://www.terrysavage.com/askterry/elderly-investment-strategy) Answered on May 13, 2017 I am now overseeing my mother’s finances since my father has passed on. She pays a wealth advisor…

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401K (https://www.terrysavage.com/ask-terry/401k-5) Answered on May 12, 2017

Hi Terry, My company does not offer a 401K, I want to know who and where can I go to set one up. I…

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Expired UTMA account with check that can’t be cashed. (https://www.terrysavage.com/ask-terry/expired-utma-account-checkcant-cashed) Answered on May 12, 2017 I received a check from a Joint account UTMA, that is made out to myself and son that the bank will…

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Living Trust (https://www.terrysavage.com/ask-terry/living-trust-2) Answered on May 12, 2017

Hi Terry, I am 60 years old and currently I handle all my own Investments through Charles Schwab and…

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reverse mortages (https://www.terrysavage.com/ask-terry/reversemortages) Answered on May 12, 2017 Update on Reverse Mortgages, R.V. Good or Bad?

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pay car off with equity line of credit (https://www.terrysavage.com/askterry/pay-car-off-equity-line-credit) Answered on May 11, 2017 We have no mortgage payment. Should we pay off our car loan of $30,000 with our equity line so we…

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Retirement Plan (https://www.terrysavage.com/ask-terry/retirementplan) Answered on May 11, 2017 Terry, My wife and I are in our mid 50’s and I plan on retiring from 597 fitters union in 2 years or…

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Commercial Real Estate Fund (https://www.terrysavage.com/askterry/commercial-real-estate-fund) Answered on May 11, 2017 I heard a popular Financial Expert mention that a safe bet to make good returns is to invest in a…

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A Correction to my Column on Social Security (https://www.terrysavage.com/ask-terry/correction-column-socialsecurity) Answered on May 11, 2017 There is some confusion about your 5-7 column(san diego union tribune) regarding the decision one…

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PERSONAL FINANCIAL ORGANIZER (https://www.terrysavage.com/ask-terry/personal-financial-organizer-5) Answered on May 10, 2017

i GOT YOUR EMAIL, i CLICKED THE LINK YOU SUGGESTED, AND I GET THE HOME PAGE AGAIN. WHERE ARE THE…

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Medicaid Qualifying Trust (https://www.terrysavage.com/askterry/medicaid-qualifying-trust) Answered on May 10, 2017 Can you offer resources for how to create a Medicaid Trust that shelters assets and qualifies people…

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Chicken money investments (https://www.terrysavage.com/askterry/chicken-money-investments) Answered on May 10, 2017 Have 60% in Vanguard, 20% real estate (0 debt) & 20% parked bank @ .04%. (80K ) was thinking to…

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CD’s from internet banks (https://www.terrysavage.com/ask-terry/cdsinternet-banks) Answered on May 9, 2017 are 6 mo, 1yr CD’s safe from online internet banks? They seem to have better rates.

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rmd rules when you have multiple accounts (https://www.terrysavage.com/ask-terry/rmd-rules-multiple-accounts) Answered on May 9, 2017

I have two accounts with IRA money and am at age where I needed to take RMD withdrawals so to make…

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IRA withdrawals (https://www.terrysavage.com/ask-terry/irawithdrawals) Answered on May 9, 2017 In our working days my husband and I put almost all of our savings into IRA accounts. Now that we’re…

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Shouid I contribute to a Safe Harbor 401K plan when I start my first job out of college? (https://www.terrysavage.com/ask-terry/shouidcontribute-safe-harbor-401k-plan-start-first-job-college) Answered on May 9, 2017

I’m trying to learn about how to start saving but I’m unsure how this plan works. How is it…

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Parties to a trust (https://www.terrysavage.com/ask-terry/parties-to-atrust) Answered on May 9, 2017 Can a trust be created between a unmarried couple , living together on jointly owned real estate.

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457b contributions (https://www.terrysavage.com/ask-terry/457bcontributions) Answered on May 9, 2017 Hello Terry. Part of my retirement planning, I invest in a 457b through my employer. I have about…

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Hidden Info Mother in Law’s dementia (https://www.terrysavage.com/ask-terry/hidden-info-mother-lawsdementia) Answered on May 8, 2017 my MIL is widowed, currently suffering from dementia, has assets she told my husband are in a trust.

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Need more income in retirement. (https://www.terrysavage.com/askterry/need-income-retirement) Answered on May 8, 2017 I,m 74 with a self funded retired program —- I am receiving Social Security ( $32,600) anyway to…

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Underfunded Pensions (https://www.terrysavage.com/askterry/underfunded-pensions) Answered on May 8, 2017 I read your article this morning, 4/24, in the Dayton Daily News regarding underfunded pensions. My…

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Credit Counseling — buried in debt! (https://www.terrysavage.com/askterry/credit-counseling-buried-debt) Answered on May 7, 2017 Hi Terry… My husband and I are a financial mess. We are both horrible money managers and have…

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Social security: when to take it (https://www.terrysavage.com/askterry/social-security-take) Answered on May 7, 2017 Dear Ms Savage; I enjoy reading your column each week in the Denver Post. Why do almost all articles…

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Personal financial organizer form (https://www.terrysavage.com/askterry/personal-financial-organizer-form-4) Answered on May 7, 2017 How do I find it?

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wills, etc. today’s (5/3) topic on the Steve Bertrand Business show (https://www.terrysavage.com/ask-terry/wills-etc-todays-53-topic-stevebertrand-business-show) Answered on May 7, 2017 I am sorry I just turned on my radio at the end — were you offering a list of things to do re a…

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One or all 3 index funds (https://www.terrysavage.com/ask-terry/one-3index-funds) Answered on May 7, 2017 Would it be wise to invest in a total stock market index fund, S&P 500 Index Fund, and a NASDAQ…

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401(k) Why do you advocate for them? (https://www.terrysavage.com/ask-terry/401k-why-do-you-advocatefor-them) Answered on May 7, 2017 As a investment adviser, are you a fiduciary? This question occurs to me because of your column…

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April 2017 Questions & Answers By Terry Savage caregiver pay help (https://www.terrysavage.com/ask-terry/caregiverpay-help) Answered on April 24, 2017 My father had a stroke 2 years ago. He needs help with daily living activities I was laid off work.

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Mutual funds — too many?? (https://www.terrysavage.com/askterry/mutual-funds) Answered on April 24, 2017 i invested my pension and mutual fund when I worked for the Chicago public schools back in 97 I…

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My mom’s credit card debt (https://www.terrysavage.com/askterry/moms-credit-card-debt) Answered on April 23, 2017 My mom has dementia and is currently in hospice care, not necessarily end of life, but making her…

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Investment thru work (https://www.terrysavage.com/askterry/investment-thru-work) Answered on April 23, 2017 The company I work for has an investment plan, sort of. They don’t put anything into it, they just…

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Credit card debt (https://www.terrysavage.com/ask-terry/credit-carddebt-6) Answered on April 23, 2017 Balance transfer cards vs consolidate credit cards, suggestions for best company Thank you LB…

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Estate Planning — Need Attorney (https://www.terrysavage.com/askterry/estate-planning-need-attorney) Answered on April 21, 2017 I need help finding an attorney who specializes in estate planning. I am single and have no family.

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401(k) Rollovers (https://www.terrysavage.com/ask-terry/401krollovers) Answered on April 21, 2017 Good afternoon Terry, I am a CFP professional in the Plainfield, IL. area. I was recently contacted…

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College Illinois vs 529? (https://www.terrysavage.com/askterry/college-illinois-vs-529) Answered on April 20, 2017 Hi Terry. My husband and I purchased 8 semesters of college for our first daughter through the…

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IRA (https://www.terrysavage.com/ask-terry/ira-4) Answered on April 20, 2017 Please clarify to me and your viewers: From a ROTH IRA, one can withdraw up to the total of initial…

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Taking me to court over credit card! (https://www.terrysavage.com/askterry/taking-court-credit-card) Answered on April 19, 2017 I have a account that about to go to court. Should I file for brankrupty, because several attorney…

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Appraiser went MIA for 5 days after due date, then turned in a low appraisal, then disappeared again. Help! (https://www.terrysavage.com/ask-terry/appraiser-went-mia-5-daysdue-date-turned-low-appraisal-disappeared-help) Answered on April 19, 2017 As a lender, we are subjected to using the appraisal company assigned. Our appraisal was ordered on…

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26 (f) programs — for real? (https://www.terrysavage.com/askterry/26-f-programs-real) Answered on April 19, 2017 is this program for real…

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Long term care insurance (https://www.terrysavage.com/ask-terry/longterm-care-insurance-15) Answered on April 19, 2017 I am a 63 yr old woman, retired, thinking about purchasing long term care insurance. I have been…

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Can I do anything to increase Social Security Payments at Age 67? (https://www.terrysavage.com/ask-terry/can-anything-increase-socialsecurity-payments-age-67) Answered on April 10, 2017 I was forced by circumstance to accept Social Security at age 62 because I couldn’t work at the time…

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Severance pay vs staying with company (https://www.terrysavage.com/ask-terry/severance-pay-vs-stayingcompany) Answered on April 10, 2017 As part of a recent mass layoff, I have 60 days until my employment ends and my last pay check. I…

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Health insurance & Medicare (https://www.terrysavage.com/askterry/health-insurance-medicare) Answered on April 9, 2017 If I have health insurance with my employer as part of my retirement package, why must I sign up for…

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IRA Year Mistake (https://www.terrysavage.com/ask-terry/ira-yearmistake) Answered on April 9, 2017 I made an IRA contribution in January of 2016 for my 2015 taxes, but it was coded as a current year…

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Can a senior live on only Social Security? (https://www.terrysavage.com/ask-terry/can-senior-live-social-security) Answered on April 9, 2017

I live in a board and care right now but am applying to senior apts who just take 30% of your…

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2017 Medical Expense Deduction (https://www.terrysavage.com/askterry/2017-medical-expense-deduction) Answered on April 9, 2017 Not a question – a statement. Your column in the April 9 edition of The Denver Post w/regard to the…

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Stock valuation of old shares (https://www.terrysavage.com/askterry/stock-valuation-old-shares) Answered on April 9, 2017 I have 10 shares of AT&T Corp stock dated December 23, 1997. How much is that worth?

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March 2017 Questions & Answers By Terry Savage Social Security Number and Identity Theft (https://www.terrysavage.com/ask-terry/social-security-numberidentity-theft) Answered on March 31, 2017 What is the percentage of stolen social security numbers for identity thief?

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Financial Advice in Retirement years (https://www.terrysavage.com/ask-terry/financial-advice-retirementyears) Answered on March 31, 2017 I am retired and so far very blessed to own rental properties. However I am looking for Financial…

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How do I choose a Medicare supplement? (https://www.terrysavage.com/ask-terry/medicare-suppliment-2) Answered on March 30, 2017

What are good ones what ones to stay away from…

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Medical deduction for cost of Long Term Care/Nursing facility for Alzheimer’s patient (https://www.terrysavage.com/ask-terry/medicaldeduction-cost-long-term-carenursing-facility-alzheimers-patient) Answered on March 29, 2017

I’m trying to help my sister-in-law with her tax return. Her husband was diagnosed over a year ago…

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Help with investing (https://www.terrysavage.com/ask-terry/help-withinvesting) Answered on March 29, 2017 Today I heard you on WGN saying we should not pay financial advisors, go fee based if we have to.

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credit card debt (https://www.terrysavage.com/ask-terry/credit-carddebt-5) Answered on March 29, 2017 How to pay off credit card debt on a fixed income…

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College expenses as a deduction (https://www.terrysavage.com/askterry/college-expenses-deduction) Answered on March 28, 2017 What college expenses may I include when filing my taxes…

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Changing IRA funds. (https://www.terrysavage.com/askterry/changing-ira-funds) Answered on March 28, 2017 I am age 62 and have $100,000, in an IRA of all American Funds (100% stock market) at Ameriprise. I…

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Nanny needs taxable income to get Obamacare insurance (https://www.terrysavage.com/ask-terry/nanny-needs-taxable-incomeget-obamacare-insurance) Answered on March 28, 2017 I am a full time nanny and have to do my taxes soon. The family I nanny for isn’t claiming anything…

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Tribune article 3/20/17 (https://www.terrysavage.com/ask-terry/tribunearticle-32017) Answered on March 28, 2017 I’m one of the thousands of United Airline employees whose pensions were turned over to the PBGC.

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STUDENT LOANS Phishing Scam? (https://www.terrysavage.com/ask-terry/student-loans-phishing-scam) Answered on March 27, 2017

received inquiry from American Education Services holder of SunTrust student loans requesting proof…

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Federal debt — Can the government pay its bills? (https://www.terrysavage.com/ask-terry/federal-debt-can-governmentpay-bills) Answered on March 27, 2017 Can the federal government run short of dollars, and be unable to pay its bills?

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Savings account — best rates (https://www.terrysavage.com/askterry/savings-account-best-rates) Answered on March 27, 2017 Hi Terry, I have some (chicken) money I would like to put away in a savings account for safe keeping…

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Credit Card Cancellation (https://www.terrysavage.com/askterry/credit-card-cancellation) Answered on March 26, 2017 I signed up for what I thought was a rewards card, but it ended up being a credit card. It has not…

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Really — How do I find a Financial Planner? Will YOU do it?? (https://www.terrysavage.com/ask-terry/really-find-financial-plannerwill) Answered on March 26, 2017 How does one find a reputable Financial Planner and Investor to educate and set us up for…

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get out of stocks — move to cash? (https://www.terrysavage.com/askterry/get-stocks-move-cash) Answered on March 26, 2017 at my “late retirement” I want to get out of stocks to limit risk. My objective is secure…

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Scholarship Search website (https://www.terrysavage.com/askterry/scholarship-search-website) Answered on March 26, 2017 You mentioned a website to help with scholarship searching last week. What website was that?

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Do I owe estimated taxes on a Roth Conversion? (https://www.terrysavage.com/ask-terry/owe-estimated-taxes-rothconversion) Answered on March 26, 2017 vI am going to convert some of my IRA to a ROTH this year. I have the money outside of my IRA to pay…

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withdrawals from retirement plan (https://www.terrysavage.com/askterry/withdrawals-retirement-plan) Answered on March 26, 2017 I have a 457 that I will be able to draw down due to my age I need your help on how to invest it or…

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removing a person off my mortgage (https://www.terrysavage.com/askterry/removing-person-off-mortgage) Answered on March 18, 2017 I quick claim my property to someone six years ago to prevent losing it and am now requesting her…

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pay off mortgage or save for retirement? (https://www.terrysavage.com/ask-terry/pay-off-mortgage-saveretirement) Answered on March 16, 2017 I am a 57 year old small business owner. We built a home 11 years ago and have refinanced from 30 to…

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refinancing student loans (https://www.terrysavage.com/askterry/refinancing-student-loans-2) Answered on March 16, 2017 My daughter in law has 2 private Chase student loans totaling $67,000 at 8% interest! (Dumb, I know!)…

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Pay off house (https://www.terrysavage.com/ask-terry/pay-off-house) Answered on March 16, 2017

My husband and I are retired and living comfortably. We owe 87,000.00 on our home. My husband wants…

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CollegeIllinois! Prepaid Tuition Plan: The Risks (https://www.terrysavage.com/ask-terry/collegeillinois-prepaid-tuitionplan-risks) Answered on March 15, 2017 Hi Terry Your articles on this topic are really insightful -have gone thru all of them. I had a…

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Pay for Wedding with IRA? (https://www.terrysavage.com/askterry/pay-wedding-ira) Answered on March 12, 2017 I’m 62 and have approximately 10,000 in credit card debt from my daughter’s wedding. I have a…

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Out of college student investing (https://www.terrysavage.com/askterry/college-student-investing) Answered on March 11, 2017 Hello Terry, I will graduate from college next year with a BS in Chemistry but I already have a job…

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Credit card pay-down (https://www.terrysavage.com/ask-terry/creditcard-pay) Answered on March 11, 2017 I have $10K to pay off about half of my credit card debt (thanks to my father). Is the smartest…

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Investing at 76 years old. (https://www.terrysavage.com/askterry/investing-76-years-old) Answered on March 11, 2017 I recall reading your column on starting investing with a small monthly amount, I believe it was…

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Grandparents investing for grandchild for college (https://www.terrysavage.com/ask-terry/grandparents-investinggrandchild-college) Answered on March 4, 2017 We are first time grandparents and would like to start putting money aside for our grandchilds…

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dividend added to tax base (https://www.terrysavage.com/askterry/dividend-added-tax-base) Answered on March 3, 2017 I have, in the past, added the taxes I have paid to my original cost basis. I have a self directed…

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medicare suppliment (https://www.terrysavage.com/askterry/medicare-suppliment) Answered on March 1, 2017 Do you really need one and if so can you tell me good ones to choose from and what to stay away…

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Managed accounts costs too high? (https://www.terrysavage.com/askterry/managed-accounts) Answered on March 1, 2017 I have read your response to a reader that said paying 2 percent on a managed account is way too…

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February 2017 Questions & Answers By Terry Savage Estate planning help (https://www.terrysavage.com/ask-terry/estateplanning-help) Answered on February 28, 2017 Don’t know if you can answer this. . I am 70 yo. .I have a FHA mortgage of $109000. I would like to…

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Financial help for first time home buyer (https://www.terrysavage.com/ask-terry/financial-help-first-time-homebuyer) Answered on February 28, 2017 How can the athomeillinois program be helpful to a first time home buyer having trouble coming up…

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financial adviser, Yes or No (https://www.terrysavage.com/askterry/financial-adviser-yes-no) Answered on February 28, 2017 I see questions about whether or not to work with a “financial adviser” being asked all the time. My…

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About savings bonds (https://www.terrysavage.com/ask-terry/aboutsavings-bonds) Answered on February 28, 2017 HI Terry, My name is Francisco and I have a question about a savings bond I have that I got from my…

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investing new money in the stock market (https://www.terrysavage.com/ask-terry/investing-new-money-stockmarket) Answered on February 27, 2017 I have some money that I want to invest in a total stock market fund, should I wait to see if the…

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Mortgage (https://www.terrysavage.com/ask-terry/mortgage-3) Answered on February 27, 2017

A few months ago I heard you talking about a bank giving free money to home buyers because of…

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elderly father lost all his retirement savings when market crashed. Can he recover any of it? (https://www.terrysavage.com/ask-terry/elderlyfather-lost-retirement-savings-market-crashed-can-recover) Answered on February 27, 2017

elderly father lost all his retirement savings when market crashed. Can he recover any of it?

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IRAs — safe, secure interest rate? (https://www.terrysavage.com/askterry/iras-safe-secure-interest-rate) Answered on February 27, 2017 I am self employed and would like to put $ in an IRA for 4 years, for tax purposes. Where can I get…

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What, if any, affect will forbearance have on my credit score. (https://www.terrysavage.com/ask-terry/affect-will-forbearance-creditscore) Answered on February 27, 2017 I’m on a Sallie Mae loan w/ my daughter, and she requested, and received forbearance on our loan for…

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retirement overview (https://www.terrysavage.com/askterry/retirement-overview) Answered on February 26, 2017 My wife & I putting 100 each in a roth. I put 500 a month in my work 401. putting away 750 a…

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Investment newsletter you recommended (https://www.terrysavage.com/ask-terry/investment-newsletterrecommended) Answered on February 26, 2017 Hi Terry, Last week I was listening to WGN radio on in the afternoon. You were discussing…

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Privacy on your site for question (https://www.terrysavage.com/askterry/privacy-site-question) Answered on February 26, 2017 is your website safe enough to disclose my 401k total to ask you specific regarding retirement?

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IL 529 vs. vanguard 529 vs other (https://www.terrysavage.com/askterry/il-529-vs-vanguard-529-vs) Answered on February 26, 2017 I have 4 children, ages 10, 7, 7, 7. Both my husband and I are in our late 40’s and we need to set…

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Link to your 2-13 article on Pet Insurance (https://www.terrysavage.com/ask-terry/link-2-13-article-pet-insurance) Answered on February 23, 2017

Terry – I am a local canine massage therapist and do marketing work with a local veterinarian (Oak…

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Rollover IRA (https://www.terrysavage.com/ask-terry/rollover-ira) Answered on February 22, 2017

I had a 401k and rolled it over to IRA when I left that employer. If I want to convert some…

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Choosing a financial advisor (https://www.terrysavage.com/askterry/choosing-financial-advisor) Answered on February 22, 2017 We have saved for retirement and are now in our sixties. While we have chosen investments ourselves…

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401k (https://www.terrysavage.com/ask-terry/401k-4) Answered on February 22, 2017

When I retire where should I put my 401k ? I will need to withdraw some money annualy…

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Career planning (https://www.terrysavage.com/ask-terry/careerplanning) Answered on February 15, 2017 Any idea where to find free career counseling? My college doesn’t offer any to alumni, unless you…

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Artists, Authors, Creative People in business for themselves (https://www.terrysavage.com/ask-terry/artists-authors-creative-peoplebusiness) Answered on February 15, 2017 Is there a website that you can recommend (other than yours, of course) for artists and other…

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Using existing property as collateral for a second investment property (https://www.terrysavage.com/ask-terry/using-existing-propertycollateral-second-investment-property) Answered on February 15, 2017 Hi Terry, I currently own an investment property that I rent out. It’s a house in a nice western…

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Stock Inherited — What Now? (https://www.terrysavage.com/askterry/stock-tod) Answered on February 14, 2017 Hi Terry, My father in law passed away a few weeks ago and my husband is named on all of his…

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CHICAGO TRIBUNE ARTICLE ON STUDENT LOANS (https://www.terrysavage.com/ask-terry/chicago-tribune-article-studentloans) Answered on February 13, 2017 I found your article on student loans to be of interest as I am paying on these for my son. I…

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Mortgages –How do I compare? (https://www.terrysavage.com/askterry/mortgages-how-do-i-compare) Answered on February 13, 2017 What questions should you ask a potential mortgage lender?

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Where to buy Gold Coins (https://www.terrysavage.com/ask-terry/buygold-coins) Answered on February 13, 2017 Where or how is the best way to buy actual Gold.

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Someone to manage my bills (https://www.terrysavage.com/askterry/someone-manage-bills) Answered on February 13, 2017 Is there a name or an agency that you can recommend to handle setting up payment arrangements and…

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529 Plans — November 21, 2016 Chicago Tribune column (https://www.terrysavage.com/ask-terry/529-plans-november-21-2016chicago-tribune-column) Answered on February 12, 2017 Hi Ms. Savage. My wife and I want to set up 529 plans for our seven grandchildren, all of whom live…

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Use mortgage refi to pay off credit card debt (https://www.terrysavage.com/ask-terry/use-mortgage-refi-pay-offcredit-card-debt) Answered on February 12, 2017 I want to pay off our credit card debt of $23,000 and wonder if it is better to get a debt…

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Safe investment to earn 7-10% (https://www.terrysavage.com/askterry/safe-investment-earn-7-10) Answered on February 12, 2017 Hi Terry, My husband and I are looking for a safe investment for some extra cash we have…

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Minimizing taxation of SS benefits in retirement (https://www.terrysavage.com/ask-terry/minimizing-taxation-ssbenefits-retirement) Answered on February 11, 2017 I have a question about minimizing taxes on SS benefits in retirement. I’m 60, plan to retire at 65,…

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26f programs — Avoid this Ripoff! (https://www.terrysavage.com/askterry/26f-programs-avoid-ripoff) Answered on February 11, 2017 I am reading about this and it seems tons of money can be made. What are these 26f programs and who…

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Legacy Planning for my 401 (https://www.terrysavage.com/askterry/legacy-planning-401) Answered on February 11, 2017 I am retired and not active at work. My company’s 401 is paying a great fixed rate so I don’t want…

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January 2017 Questions & Answers By Terry Savage Roth IRA if I have a 40l(k) at work? (https://www.terrysavage.com/askterry/roth-ira-40lk-work) Answered on January 29, 2017 When does it make sense to use Roth IRA. I already am participating to the maximum to my 401K. Does…

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dollar cost averaging (https://www.terrysavage.com/ask-terry/dollarcost-averaging) Answered on January 29, 2017 Thank you for answering my first question. I was in an all bond portfolio, and out of the market for…

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debt (https://www.terrysavage.com/ask-terry/debt-3) Answered on January 29, 2017

hi, I am being sued, by a collection agency, I am on disability, they filled the first time in…

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selling life insurance policy (https://www.terrysavage.com/askterry/selling-life-insurance-policy) Answered on January 28, 2017 I have a $450,000 term life insurance policy. I will turn 75 this year and my premium payments will…

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Cash Settlement from Lawsuit (https://www.terrysavage.com/askterry/cash-settlement-lawsuit) Answered on January 27, 2017 Hi Terry, What is the best way to invest a fairly large cash settlement from a lawsuit? Thank you!!

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Ill. Brightstart 529 Plan as a short-term investment? (https://www.terrysavage.com/ask-terry/ill-brightstart-529-plan-shortterm-investment) Answered on January 27, 2017 Terry, I have read your opinions on the IL Bright Start 529 plan in the past couple of years and…

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Gold Stock, Zinc Stock (https://www.terrysavage.com/ask-terry/goldstock-zinc-stock) Answered on January 27, 2017 Would this be a good time to invest in gold an zinc stock…

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Debt counseling (https://www.terrysavage.com/ask-terry/debtcounseling-2) Answered on January 26, 2017 I have read your comments about the 5 things you should know about debt counseling. Thanks for that.

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Advisor took me Out of the Market 4 months ago! (https://www.terrysavage.com/ask-terry/advisor-took-market-4-monthsago) Answered on January 26, 2017 After managing my own money for 25 years I went with a financial advisor. Oct 1st he suggested a…

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Obama care eligibilty (https://www.terrysavage.com/ask-terry/obamacare-eligibilty) Answered on January 26, 2017 Terry, Can you get rejected for Obamacare cause of your income because my son in the process of…

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Trustee’s Deed IL Farmland (https://www.terrysavage.com/askterry/trustees-deed-il-farmland) Answered on January 25, 2017 My husband (who is disabled with younger onset Alzheimers) inherited, by trust, 2 farms with his 3…

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Life insurance at age 24 (https://www.terrysavage.com/ask-terry/lifeinsurance-age-24) Answered on January 24, 2017 I am 24 turning 25 in six months, i have life insurance through my employer but only for 30k. I have…

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Trust Brokerage account, Mom has dementia (https://www.terrysavage.com/ask-terry/trust-brokerage-account-momdementia) Answered on January 24, 2017 My mother-in-law has a trust brokerage account along with my brother-in-law. He just died and she…

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LIFE INSURANCE — changing beneficiary (https://www.terrysavage.com/ask-terry/life-insurance-changingbeneficiary) Answered on January 24, 2017 My husband got life insurance and beneficiaries are me and his 2 adult kids that don’t live here.

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Our Revocable Living Trust Became an Irrevocable Trust at his Death! (https://www.terrysavage.com/ask-terry/revocable-living-trust-becameirrevocable-trust-death) Answered on January 23, 2017 In 1993, my husband and I had a Family Revocable Trust written up with a revision made in 2004. Then…

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Health Insurance for small business (https://www.terrysavage.com/askterry/health-insurance-small-business) Answered on January 23, 2017 At the end of this year our dental office, 10 employee, and a C Corporation offered a group plan to…

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Reverse Mortgage (https://www.terrysavage.com/ask-terry/reversemortgage-5) Answered on January 23, 2017 Have been advised to take out ‘perverse’ mortgage’ to pay for 1/3 of house stuck in trust… have…

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First Steps of Finances (https://www.terrysavage.com/ask-terry/firststeps-finances) Answered on January 22, 2017 Hi Terry. I am a recent graduate with no debt (thankfully). What are the first things I should do to…

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Parents separated 20 years, then one dies (https://www.terrysavage.com/ask-terry/parents-separated-20-yearsone-dies) Answered on January 22, 2017 Hi terry my mom and father were married but been separated for over 20 years my dad passed away on…

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Debt Collection, Now my Wife is Involved! (https://www.terrysavage.com/ask-terry/debt-collection-now-wifeinvolved) Answered on January 22, 2017 Hi, Ms. Savage, I have a medical collection that I have been trying to get rid of for quite a while.

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Paying off Credit Cards (https://www.terrysavage.com/askterry/paying-off-credit-cards-2) Answered on January 22, 2017 Hi Terry, Do to illness, I behind on several credit cards and receiving phone calls for payment.

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Paying off everything (https://www.terrysavage.com/ask-terry/payingoff-everything) Answered on January 22, 2017 My husband retired at 60, I’m still working and am 58. He has a pension for life. If he dies I will…

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Investment within Vanguard IRA at age 85 — too conservative? (https://www.terrysavage.com/ask-terry/investment-within-vanguardira-age-85-conservative) Answered on January 17, 2017 My mother has been conservatively investing in the Treasury Money Market for many years in the…

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Life insurance affecting estate value (https://www.terrysavage.com/ask-terry/life-insurance-affecting-estatevalue) Answered on January 17, 2017 Terry, in your column in today’s Chicago Tribune you state the “The total value of life insurance…

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Gift Limit (https://www.terrysavage.com/ask-terry/gift-limit) Answered on January 17, 2017

I understand I can give an amount each year to nieces and nephews without (inheritance or gift tax)…

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Taxes on a company plan withdrawal? (https://www.terrysavage.com/ask-terry/taxes-company-planwithdrawal) Answered on January 17, 2017 I contributed to a company tax deferred plan. I retired & I am 62 yo. In 2016 I withdrew 12,000…

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IL State Teacher Pension most likely outcome (https://www.terrysavage.com/ask-terry/il-state-teacher-pension-likelyoutcome) Answered on January 9, 2017 You were one of the very first financial experts to call attention to the underfunding of the IL…

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bonds (https://www.terrysavage.com/ask-terry/bonds-5) Answered on January 9, 2017

Retired. Have hi yield bonds in vanguard also inflation protected securities bonds. Should I remain…

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How do I find a financial advisor? (https://www.terrysavage.com/askterry/find-financial-advisor) Answered on January 5, 2017 How do I find a financial advisor?

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Closed credit cards (https://www.terrysavage.com/ask-terry/closedcredit-cards) Answered on January 4, 2017 Due to an illness, I couldn’t pay credit cards, they have closed the accounts. Should I continue now…

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old student loand debt (https://www.terrysavage.com/ask-terry/oldstudent-loand-debt) Answered on January 4, 2017 Hi Terry, I have student loan debt and I have been working for 15 years. I am looking for advice on…

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How do you buy penny stocks without a broker? 2nd Request!!! (https://www.terrysavage.com/ask-terry/buy-penny-stocks-withoutbroker-2nd-request) Answered on January 4, 2017 How do you buy penny stocks without a broker? 2nd Request!!!

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Commercial mortgage bridge loans (https://www.terrysavage.com/askterry/commercial-mortgage-bridge-loans-5) Answered on January 3, 2017 Terry: Would you advise investing in these loans and, if not, why not. Thanks so much in advance and…

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Is joint checking a good idea with a single child (https://www.terrysavage.com/ask-terry/joint-checking-good-ideasingle-child) Answered on January 3, 2017 My 25 year old daughter purchased a house on her own. I am her mother and on her checking and…

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Paydown mortgage? (https://www.terrysavage.com/ask-terry/paydownmortgage) Answered on January 1, 2017 I am retired – my income is substantially less from not working – living off some nontaxes…

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December 2016 Questions & Answers By Terry Savage Timing for returning into the Bond Market (https://www.terrysavage.com/ask-terry/timing-returning-bond-market) Answered on December 28, 2016

Hi Terry: With the downturn in the bond market due to the election and the fed increasing the…

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Home Equity Loan Paydown with Divorce on the Horizon? (https://www.terrysavage.com/ask-terry/home-equity-loan-paydowndivorce-horizon) Answered on December 27, 2016 Owe about $90,000 in Home Equity. The mortgage is paid in full. Have about $120,000 in stocks. Would…

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Crowd-funding — a good idea? (https://www.terrysavage.com/askterry/crowd-funding-good-idea) Answered on December 27, 2016 What is your opinion about the wisdom for the small investor of investing in crowdfunding or peer to…

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Just heard you on WGN…what was the name of the budget book from Amazon (https://www.terrysavage.com/ask-terry/just-heard-wgn-namebudget-book-amazon) Answered on December 26, 2016 Please give me the name of the budget book you discusses today available on Amazon…

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Financial Advisor on Radio has bad Background Check! (https://www.terrysavage.com/ask-terry/financial-advisor-radio-badbackground-check) Answered on December 26, 2016 Hello, Terry. My husband and I are met a financial advisor who has a radio show on WBBM. I searched…

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IRA to HSA? (https://www.terrysavage.com/ask-terry/ira-to-hsa) Answered on December 26, 2016

Seasons Greetings,Terry! I would like to transfer money out of an IRA that’s paying less than 1% to…

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Credit (https://www.terrysavage.com/ask-terry/credit-2) Answered on December 14, 2016

I just rec’d a letter from one my creditor who offer me a chargeoff amount less than half of what I…

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Fidelity Management Fees (https://www.terrysavage.com/askterry/fidelity-management-fees) Answered on December 13, 2016 Upon retiring at 66 yrs, I recently rolled over my 401k into my existing Fidelity IRA. The total is…

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Charity contribution website (https://www.terrysavage.com/askterry/charity-contribution-website) Answered on December 13, 2016 I seem to remember that you suggested a website where people can choose a charity to contribute to.

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529 Plan (https://www.terrysavage.com/ask-terry/529-plan) Answered on December 13, 2016

Hi Terry, I’m an IL resident who recently became a father and I’m looking to open a 529 plan before…

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Pay off mortgage with 401k withdrawal? (https://www.terrysavage.com/ask-terry/pay-off-mortgage-401kwithdrawal) Answered on December 12, 2016 60 years old facing impending downsizing…over $600k in IRA/401k jointly. $100k mortgage…would it…

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student loans (https://www.terrysavage.com/ask-terry/student-loans-7) Answered on December 12, 2016

HELP! My daughter has more than 60,000 in student loan debt. She has consolidated these three loans…

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Social Security sent someone’s important info to ME!! (https://www.terrysavage.com/ask-terry/social-security-sent-someonesimportant-info) Answered on December 11, 2016 Name on the documentation SS sent to me is for a guy named Kevin and I’m a girl named Carrie. It…

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Health Insurance Plans for Small Biz — Deadline December 15th! (https://www.terrysavage.com/ask-terry/health-insurance-plans-smallbiz-deadline-december-15th) Answered on December 11, 2016 MY FRIEND HEARD ON WGN NOON BUSINESS LUNCH 12/07/16 SOMETHING ABOUT INSURANCE FOR SELF EMPLOYED…

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Unsecured Senior Debt (https://www.terrysavage.com/askterry/unsecured-senior-debt) Answered on December 11, 2016 Hi Terry, I believe I’ve heard you talk about the DCSD, dept counsel for seniors and disabled, on…

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Disposing of men’s magazines (https://www.terrysavage.com/askterry/disposing-mens-magazines) Answered on December 11, 2016 Hi Terry, An awkward but serious question… Like a lot of men, I have a collection of Playboy and…

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Gifting IRA’S for adult children (https://www.terrysavage.com/askterry/gifting-iras-adult-children) Answered on December 11, 2016 I would like to set up accounts for each of my two children to help them with their retirements…

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debt relief (https://www.terrysavage.com/ask-terry/debt-relief) Answered on December 6, 2016

I would like a recommendation of a service to help me get my credit card debt in line. Right now I…

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Euro v. Dollar for my Trip (https://www.terrysavage.com/ask-terry/eurov-dollar-trip) Answered on December 5, 2016 With the dollar strong against the Euro, I was wondering, since we’re taking a European river cruise…

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Fiduciary Ruling by DOL — Broker says GO! (https://www.terrysavage.com/ask-terry/fiduciary-ruling-dol-brokersays-go) Answered on December 5, 2016 Could you please explain the DOL fiduciary ruling which will take place next April? Our financial…

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financial advisor expense (https://www.terrysavage.com/askterry/financial-advisor-expense) Answered on December 5, 2016 Financial adviser cites 1.25% cost of my portfolio yearly minimum expense to manage my finances. At…

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I don’t have a credit score! (https://www.terrysavage.com/askterry/dont-credit-score) Answered on December 4, 2016 I am a 46yr. old man with a credit score of 0. How should I start going about earning credit?

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Do i need a Medicare supplement policy? (https://www.terrysavage.com/ask-terry/need-medicare-supplementpolicy) Answered on December 4, 2016 I saw this article and wondered is this good advise to not get supplemental insurance? Thank you.

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Health Plan Deal for Small Business? (https://www.terrysavage.com/ask-terry/health-plan-deal-smallbusiness) Answered on December 2, 2016 I read your column The Savage Truth in my local newspaper about a little-known quirk that allows…

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HARP or HAMP — please help! (https://www.terrysavage.com/askterry/harp-hamp-please-help) Answered on December 2, 2016 I am confused on HAMP and HARP I would like to refinance my home mortgage, I have not missed any…

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Credit counseling help, please (https://www.terrysavage.com/askterry/credit-counseling-help-please) Answered on December 2, 2016 My wife and I have a large amount of debt with high interest rates. We’ve done money management debt…

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When to review/change Revocable Living Trust (https://www.terrysavage.com/ask-terry/reviewchange-revocable-livingtrust) Answered on December 2, 2016 My husband and I have a revocable trust established in 1997. I have been advised by an attorney that…

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November 2016 Questions & Answers By Terry Savage Evaluating a Coin collection (https://www.terrysavage.com/askterry/evaluating-coin-collection) Answered on November 24, 2016 As I was going thru my mothers things I found and article written by you from June 1998 regarding…

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Form for Revocable Living Trust (https://www.terrysavage.com/askterry/form-revocable-living-trust) Answered on November 24, 2016 Where can I find a Revocable Living Trust Form?

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Credit Card — Can I cancel? (https://www.terrysavage.com/askterry/credit-card-can-cancel) Answered on November 24, 2016 Hi Terry, My question is – is it better to have a credit card account closed due to inactivity or…

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Advice on when to take SS (https://www.terrysavage.com/askterry/advice-take-ss) Answered on November 24, 2016 Hi Terry I am nearly 66 and considering taking my SS now. I would like some advice on the wisdom of…

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401K at 71 (https://www.terrysavage.com/ask-terry/401k-at-71) Answered on November 23, 2016

I received a letter from my 401K that I have to use some of the money because of my age. I am still…

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Seeking Comparable Fund to Invest In (https://www.terrysavage.com/ask-terry/seeking-comparable-fund-toinvest-in) Answered on November 22, 2016 Good afternoon Terry! My father had turned me onto your show and I have since purchased and am in…

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IRA rollover decision (https://www.terrysavage.com/ask-terry/irarollover-decision) Answered on November 22, 2016 Hi Terry, have been following your dedicated help to many regarding our financial concerns. I have a…

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bond funds losses (https://www.terrysavage.com/ask-terry/bond-funds2) Answered on November 21, 2016 Hi Terry, I am retired and just have a little bit of money in the market. Mostly bond funds and some…

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long term care insurance (https://www.terrysavage.com/ask-terry/longterm-care-insurance-14) Answered on November 21, 2016 Hello. I just got a 96% increase in my and my husband’s CNA long term care policy premium. I live in…

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Vanished Stocks (https://www.terrysavage.com/ask-terry/vanishedstocks) Answered on November 20, 2016 Hello Terri, I saw you on WGN morning news the other day, and am trying to find my stocks from an…

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529 savings plans — who can contribute (https://www.terrysavage.com/ask-terry/529-savings-plans-cancontribute) Answered on November 20, 2016 Hi, Terry, I enjoy your columns in the Sunday Denver Post. This morning’s (11/20), on 529 savings…

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93yr old dad won’t make a will (https://www.terrysavage.com/askterry/93yr-old-dad) Answered on November 20, 2016 Hi Terry, my dad is 93 in pretty good health, mom passed away 2yrs ago. They owned 4 properties, one…

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election fear (https://www.terrysavage.com/ask-terry/election-fear) Answered on November 20, 2016

I have heard some “experts” say that if Trump is elected, most of the 401k money will be gone due to…

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Credit (https://www.terrysavage.com/ask-terry/credit) Answered on November 19, 2016

What is best to do to clean/restore your credit, bankrucpty or credit repair…

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Small business health care (https://www.terrysavage.com/askterry/small-business-health-care) Answered on November 19, 2016 My husband and I are both independant contractors and pay for private health insurance. It is…

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Small business insurance (https://www.terrysavage.com/askterry/small-business-insurance) Answered on November 19, 2016 I am not having any luck finding the article on small business insurance. Every time I hit read more…

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Small Business health Insurance (https://www.terrysavage.com/askterry/small-business-health-insurance) Answered on November 19, 2016 In regards to the information you provided on Small Business health insurance, I am wondering if we…

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Small Biz Health Insurance Deal Beats Obamacare (https://www.terrysavage.com/ask-terry/small-biz-health-insurancedeal-beats-obamacare) Answered on November 19, 2016 “The concept is attractive to business owners, because they do not have to contribute to the cost of…

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Aggressive verses Conservative (https://www.terrysavage.com/askterry/aggressive-verses-conservative) Answered on November 5, 2016 I’m 68 years old with an IRA that I don’t contribute to but is managed by a financial firm with some…

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Learning how to budget (https://www.terrysavage.com/askterry/learning-how-to-budget) Answered on November 5, 2016 I would like to teach my son of 26 years how to budget his money. Is there a good source for…

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Moving IRA into 401k (https://www.terrysavage.com/ask-terry/movingira-into-401k) Answered on November 5, 2016 I am employed by USPS and have money in TSP. My husband is retired and has his money in an IRA which…

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Money Market Fund Safety (https://www.terrysavage.com/askterry/third-party-money-market-fees) Answered on November 4, 2016 I have begun receiving communication from a third party administrator (TIAA-CREF) concerning changes…

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Short answers to complicated problems (https://www.terrysavage.com/ask-terry/short-answers-to-complicateproblems) Answered on November 3, 2016 Terry, I met you on a T Rowe Price Seminar with Holland American Lines to Alaska, years ago. I am…

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Long term care insurance (https://www.terrysavage.com/ask-terry/longterm-health-care-insurance) Answered on November 3, 2016 I am a 57 yr old male in relative good health. With rising health care costs and concerns about my…

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Are there penalties for transferring 401k to another 401k (https://www.terrysavage.com/ask-terry/are-there-penalties-fortransferring-401k-to-another-401k) Answered on November 2, 2016 Hi Terry, I was a freelancer for several years and started a 401k plan and at the beginning of this…

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Present value (https://www.terrysavage.com/ask-terry/present-value) Answered on November 2, 2016

My wife has the opportunity to take a lump sum pension payment now of $64247 or a lifetime annuity…

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2017 purchase of health insurance (https://www.terrysavage.com/askterry/2017-purchase-of-health-insurance) Answered on November 2, 2016 I heard u talked about a one year plan. My wife and I recently Retired and cobra runs out end or…

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Trusts and estate planners (https://www.terrysavage.com/askterry/trusts-and-estate-planners) Answered on November 2, 2016 by the time it’s discov ered!What do I look for when looking for a qualified professional?

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401k rollover (https://www.terrysavage.com/ask-terry/401k-rollover) Answered on November 1, 2016

My wife is offered a lump sump payment from a previous employer from her 401k. i have a small IRA…

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October 2016 Questions & Answers By Terry Savage Medicare Part D — “SHIP” Resources (https://www.terrysavage.com/ask-terry/medicare-part-d) Answered on October 31, 2016

Not actually a question, but two comments in relation to your column “How to navigate murky Medicare…

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Student Loan Repayment (https://www.terrysavage.com/askterry/student-loan-repayment) Answered on October 31, 2016 I have $25,000 in student loan debt thru Navient(formerly Sallie Mae). It’s from the years of…

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Your column on Medicare Drug Plans Saved Us Money! (https://www.terrysavage.com/ask-terry/oct-24th-column-re-medicaredrug-plans) Answered on October 31, 2016 Just a great big thank you for your column. Called eHealthMedicare, talked to Eunice Reid. Great…

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529 College Savings Plans (https://www.terrysavage.com/askterry/529-college-savings-plans) Answered on October 31, 2016 If your adult children have established 529 plans in another state, can Illinois grandparents…

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health insurance — short term (https://www.terrysavage.com/askterry/health-insurance-2) Answered on October 31, 2016 You talked about a one-year plan on the WGN Business lunch last Wednesday. Did I hear you correctly?

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SAVING FOR RETIREMENT (https://www.terrysavage.com/askterry/saving-for-retirement-2) Answered on October 31, 2016 FOR ALMOST 25YRS I HAVE BEEN LIVING ON A BUDGET IT IS TAKING A TOLL ON MY LIFESTYLE IF I AM SAVING…

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Bonds (https://www.terrysavage.com/ask-terry/bonds-4) Answered on October 27, 2016

Do Bonds go up or down when the interest rate goes up?

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Rent vs. buy in your 50’s (https://www.terrysavage.com/ask-terry/rentvs-buy-in-your-50s) Answered on October 25, 2016 Hi Terry- We have 2 kids in college and recently sold our house because it was too expensive to…

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How can I obtain credit to purchase property/car (https://www.terrysavage.com/ask-terry/how-can-i-obtain-credit-topurchase-propertycar) Answered on October 25, 2016 I am an unemployed young adult who have recently received a substantial amount of money. I don’t…

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Retirement income planning advice (https://www.terrysavage.com/askterry/retirement-income) Answered on October 25, 2016 Who do you recommend in the Chicago area to help me with what to do with my 401K etc as I enter…

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529 Plans, State of Illinois (https://www.terrysavage.com/ask-terry/529plans-state-of-illinois) Answered on October 24, 2016 Please give me your opinion of Illinois’ 529 Plans. In particular, what do you think of the Bright…

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Living Will (https://www.terrysavage.com/ask-terry/living-will) Answered on October 24, 2016

Can Living Trust forms be obtained on-line or must I go to an Attorney?I don’t have much, but I want…

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Buying kids first stocks as gifts (https://www.terrysavage.com/askterry/buying-kids-first-stocks-as-gifts) Answered on October 24, 2016 You talking WGN about a first stock to buy kids as gifts to get him started in stock trading what is…

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Debt Help for Seniors (https://www.terrysavage.com/ask-terry/debthelp-for-seniors) Answered on October 23, 2016 I recently read an article that you wrote in the Tampa Bay Times regarding Debt Help foro Seniors. I…

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Personal Financial Organizer Form (https://www.terrysavage.com/askterry/personal-financial-organizer-form-2) Answered on October 23, 2016 How do I get a copy?

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The Later Years — Money for Fun (https://www.terrysavage.com/askterry/the-later-years) Answered on October 23, 2016 I would like your thoughts on whether a man entering his late 60’s, with no spouse or offspring,…

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escheated (https://www.terrysavage.com/ask-terry/escheated) Answered on October 15, 2016

Is it necessary to make a contact with say insurance company’s holding policies 20 years old? State…

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foreclosure on ex-wife impacts her son (https://www.terrysavage.com/ask-terry/foreclosure) Answered on October 14, 2016

My son gave his wife the house in their divorce but her credit was too awful so the mortgage stayed…

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Should I pay cash for a new car or almost new? (https://www.terrysavage.com/ask-terry/should-i-pay-cash-for-a-newcar-or-almost-new) Answered on October 13, 2016 I recently sold my home and have $60,000 left. My bills are paid, all credit cards are 0.00 balance.

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Roth IRA (https://www.terrysavage.com/ask-terry/roth-ira-3) Answered on October 13, 2016

If I convert money from an IRA to a Roth, do I lose the interest rate?

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possible usury (https://www.terrysavage.com/ask-terry/possible-usury) Answered on October 12, 2016

My husband was a union member for 34 years until he retired early with an “earned” disability.

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529 plans (https://www.terrysavage.com/ask-terry/529-plans-4) Answered on October 12, 2016

I enjoyed your October 9th column in the Hartford Courant on 529 plans. I have two sons who have…

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1st Purchase Home Mortgage (https://www.terrysavage.com/askterry/1st-purchase-home-mortgage) Answered on October 12, 2016 My 29 year old daughter is looking to buy her first house. She is wondering if she should pay off…

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Escheate (https://www.terrysavage.com/ask-terry/escheate) Answered on October 8, 2016

Hi Terry, No question…just thanks for the WGN (Escheate) segment this week. Looked at some of my…

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what to do with vacant land (https://www.terrysavage.com/askterry/what-to-do-with-vacant-land) Answered on October 8, 2016 I purchased some land outside of Tucson in the 60’s and the taxes were nothing for many years…

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Best secured cards after a chapter 7 discharge (https://www.terrysavage.com/ask-terry/best-secured-cards-after-achapter-7-discharge) Answered on October 8, 2016 I was wondering what would be the best secured credit to apply for after a Chapter 7 discharge ?

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Where to invest for Gold (https://www.terrysavage.com/askterry/where-to-invest) Answered on October 2, 2016 A few years back I followed your suggestion and invested in the Everbank Gold Fund which has since…

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Student loans (https://www.terrysavage.com/ask-terry/student-loans-6) Answered on October 1, 2016

Hi Terry, I recently received financial aide but it won’t cover my tuition for grad school. Any…

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Bright Start (https://www.terrysavage.com/ask-terry/bright-start) Answered on October 1, 2016

Good evening, I saw your post on why you shouldn’t use Bright Start. If i already have been using…

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Reserve Currency (https://www.terrysavage.com/ask-terry/reservecurrency) Answered on October 1, 2016 What do you make of all this talk of the dollar being ditched as the reserve Currency and the…

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September 2016 Questions & Answers By Terry Savage IRA REQUIRED MINIMUM DISTRIBUTIONS (https://www.terrysavage.com/ask-terry/ira-required-minimumdistributions) Answered on September 30, 2016 In 2 years I will need to begin to take my Required Minimum Distribution, where is the safest place…

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Life lock or similar product (https://www.terrysavage.com/ask-terry/lifelock-or-similar-product) Answered on September 30, 2016 Should I purchase a product like lock life. We have multiple checking accounts and credit cards.

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term or life insurance (https://www.terrysavage.com/ask-terry/term-orlife-insurance) Answered on September 29, 2016 I just turned 59 today. I have no children. Not married. I have term but as you know it will expire.

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date of maturity of Series EE savings bond (https://www.terrysavage.com/ask-terry/date-of-maturity-of-series-eesavings-bond) Answered on September 29, 2016 I have a Series EE savings bond issued 09/1986. Is the bond fully matured as of September 1, 2016 or…

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Are personal tuition costs tax deductable? (https://www.terrysavage.com/ask-terry/are-personal-tuition-costs-taxdeductable) Answered on September 29, 2016 Hello, I’m 57 and returning to school in 2016. I’ve paid the tuition costs in full in 2016 and I’m…

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where to put money (https://www.terrysavage.com/ask-terry/where-toput-money) Answered on September 28, 2016 have recd a cash settlement….have other retirement money in place….whats the best place to put…

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internet fraud — horrible scam (https://www.terrysavage.com/askterry/internet-fraud-or-scam) Answered on September 28, 2016 Hello, I am wondering if you can point me in the correct direction. I had receeved an email about…

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Long term care insurance increases and inflation protection (https://www.terrysavage.com/ask-terry/long-term-care-insuranceincreases-and-inflation-protection) Answered on September 28, 2016 At age 58, I purchased LTE insurance from a reputable company. Now, as I approach age 63, I am told…

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fixed indexed annuity question — Terry says: Don’t Do It!!! (https://www.terrysavage.com/ask-terry/specific-fixed-indexed-annuityquestion) Answered on September 27, 2016 I am 71 years old and recently retired. I have money in a 401K that a financial adviser suggests…

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necessary info to leave in my will (https://www.terrysavage.com/askterry/necessary-info-to-leave-in-my-will) Answered on September 27, 2016 A while ago you were kind enough to enable us to have a list of necessary information for my will…

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Refinance mortgage at lower rate or pay down current loan? (https://www.terrysavage.com/ask-terry/refinance-mortgage-at-lowerrate-or-pay-down-current-loan) Answered on September 27, 2016 We own a condo and owe about $100k on our current 30 year fixed mortgage (5.125% interest rate) and…

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Personal financial organizer (https://www.terrysavage.com/askterry/personal-financial-organizer-4) Answered on September 27, 2016 Where can I download and print this out for myself and my children?

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Medical Bills — Now What? (https://www.terrysavage.com/askterry/medical-bills-2) Answered on September 27, 2016 What suggestions do you have to pay off excessive medical bills that accumulated when I was out of…

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Searching for an unbiased, fee based advisor (https://www.terrysavage.com/ask-terry/searching-for-an-unbiased-feebased-advisor) Answered on September 27, 2016 Hi Terry, You had responded back in January of this year to a question I had about paying off my…

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Beneficiary Problem For Cohabiting Couple (https://www.terrysavage.com/ask-terry/beneficiary-problem) Answered on September 26, 2016

My Mother lives in another state. My boyfriend lives with me. Each is a 50% beneficiary of my…

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Federal Long Term Care Insurance Premiums Over Age 80 (https://www.terrysavage.com/ask-terry/federal-long-term-careinsurance-2) Answered on September 25, 2016 My husband and I have FLTC Insurance and have two questions relative to your column in the Santa…

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Help — need methods of debt relief (https://www.terrysavage.com/askterry/methods-of-debts-relief) Answered on September 25, 2016 I have about 34000 in unsecured loans and credit card debts. i am paying about 1500$ a month on…

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interest rates & the Fed (https://www.terrysavage.com/askterry/interest-rates-3) Answered on September 24, 2016 Terry: when the Fed raises interest rates is that good for my money market investments or bad? I can…

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Inheritance, Gift Tax of Money from Philippines (https://www.terrysavage.com/ask-terry/inheritance-gift-tax) Answered on September 24, 2016

Hello! My family owns property in the Philippines. We are in final stages of selling it. Because…

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Auto Insurance vehicle coverage for retirees (https://www.terrysavage.com/ask-terry/auto-insurance-vehiclecoverage-for-retirees) Answered on September 24, 2016 Hello Terry We would benefit greatly from some suggestions on auto vehicle coverage, including…

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Long Term Care Ins — Companies Need to be Audited! (https://www.terrysavage.com/ask-terry/choices-after-increase-inpremium-from-fltcip) Answered on September 24, 2016 Having read your article advising policy holders burdened by the up to 126% increases in premiums I…

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Business grants for minorities (https://www.terrysavage.com/askterry/business-grants) Answered on September 22, 2016 Where can I get a first time minority business grant.

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Government Grant (https://www.terrysavage.com/askterry/government-grant) Answered on September 21, 2016 Terry, what’s the best official website where I can do research on acquiring a Federal Government…

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estate question (https://www.terrysavage.com/ask-terry/estatequestion) Answered on September 20, 2016 I am the executor of my friends estate and was beneficiary of all assets when she passed . Due to…

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LTC insurance -combo life (https://www.terrysavage.com/ask-terry/ltcinsurance-combo-life) Answered on September 20, 2016 To secure a combo life /LTC policy, what type of health underwriting is required to secure the life…

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personal finances (https://www.terrysavage.com/ask-terry/personalfinances) Answered on September 20, 2016 I applied for a ParentPlus loan for my son’s college tuition. I was approved and my son was able to…

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FAFSA and Divorced Parents (https://www.terrysavage.com/askterry/fasfa) Answered on September 20, 2016 Hello, My 21 year daughter moved to her Dad’s house in Florida in September of 2015 (I live in…

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Federal Employees Long Term Care Insurance (https://www.terrysavage.com/ask-terry/federal-employees-long-termcare-insurance) Answered on September 20, 2016 In your recent article “Sticker shock for long term care insurance”, you stated that “Premiums were…

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I no longer work for a company (https://www.terrysavage.com/askterry/i-no-longer-work-for-a-company) Answered on September 20, 2016 Im 60 yrs old and no longer work for the company i had a ira with though edward jones i want to…

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Federal Long Term Care Insurance (https://www.terrysavage.com/askterry/federal-long-term-care-insurance) Answered on September 20, 2016 What was the source of your information regarding the number of federal employees who have…

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long-term-care insurance (https://www.terrysavage.com/ask-terry/longterm-care-insurance-13) Answered on September 13, 2016 Thank you for your article discussing the sticker shock of the rise in premiums for longterm-care…

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Umbrella Insurance Policy (https://www.terrysavage.com/askterry/umbrella-insurance-policy) Answered on September 13, 2016 My homeowners and auto insurance rep is recommending an umbrella insurance policy (365.00 per…

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mortgage with low credit score? (https://www.terrysavage.com/askterry/mortgage-or-home-equity-loan) Answered on September 13, 2016 We live in Brookfield and have our home paid off and would like to move. Our house is not worth as…

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Where to Park Money after Spouse’s Death (https://www.terrysavage.com/ask-terry/where-to-park-money) Answered on September 12, 2016

My husband just recently passed away and I will be receiving the death benefits plus other funds…

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Why Is My Banker Pushing Annuities? (https://www.terrysavage.com/ask-terry/why-is-my-banker-pushingannuities) Answered on September 12, 2016 Hi, Terry. I am in the process of transferring several IRA accounts, as each one reaches maturity,…

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FLTCIP Premium Increase — Terry Corrects an Error! (https://www.terrysavage.com/ask-terry/fltcip-premium-increase) Answered on September 11, 2016

In your article you state that premiums for “anyone over age 80 were not increased”. My wife, age 81…

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Fed rate increase (https://www.terrysavage.com/ask-terry/fed-rateincrease) Answered on September 11, 2016 So can you explain how .25 of a point raise will mean very little to someone’s savings but the cost…

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I’m a chicken (https://www.terrysavage.com/ask-terry/im-a-chicken) Answered on September 11, 2016

Just wanted to say I read Chicken Money a few moons ago and it’s lessons have stuck with me over the…

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Long-term care insurance combo poicies (https://www.terrysavage.com/ask-terry/long-term-care-insurance-12) Answered on September 11, 2016

A recent article of yours published in our local newspaper dealt with new combination life/LTC…

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Financial Planner — how to judge? (https://www.terrysavage.com/askterry/financial-planner-2) Answered on September 1, 2016 Hello Ms. Savage. My wife & I are big fans. Been following your advice for years. Your are so…

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online stock trading (https://www.terrysavage.com/ask-terry/onlinestock-trading) Answered on September 1, 2016 Which online stock trading company would you recommend? Firstrade, Scott Trade, Ameritrade, E*Trade,…

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credit monitoring services (https://www.terrysavage.com/askterry/credit-monitoring-services) Answered on September 1, 2016 Should I have credit monitoring and if so what do you recommend. We have 4 checking accounts and…

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August 2016 Questions & Answers By Terry Savage will medicaid take my mothers house after she passes? (https://www.terrysavage.com/ask-terry/will-medicaid-take-mymothers-house-after-she-passes) Answered on August 30, 2016 In 2006 my mom did not have health insurance & ended up with congestive heart failure &…

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inheritance and special need trusts for disabled (https://www.terrysavage.com/ask-terry/inheritance-and-special-needtrusts) Answered on August 29, 2016 hi I have a question if a person is 77 years old and disabled in a wheelchair in Illinois and on…

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Pay Off Mortgage in retirement? (https://www.terrysavage.com/askterry/pay-off-mortgage-2) Answered on August 29, 2016 My husband and I are retired and have approximately $1.4 million in IRA/retirement funds. Our home…

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EE Savings Bonds — Complicated questions for distribution after a relative’s death (https://www.terrysavage.com/ask-terry/ee-savingsbonds-4) Answered on August 29, 2016 I have several EE Savings Bond that were issued in 1989 and were owned by my Aunt. l was added as a…

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Insurance website (https://www.terrysavage.com/ask-terry/insurancewebsite) Answered on August 29, 2016 What’s the best life insurance for cheaper…

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Social Security article (https://www.terrysavage.com/ask-terry/socialsecurity-article) Answered on August 29, 2016 Dear Terry, Enjoyed your recent piece, thanks for outlining some history of Social Security…

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401K after being terminated from job (https://www.terrysavage.com/ask-terry/401k-after-being-terminatedfrom-job) Answered on August 28, 2016 Hi Terry, I was just let go from a job I was at for 19 years. What do you recommend I do with my…

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Roth vs. IRA withdrawl (https://www.terrysavage.com/ask-terry/roth-vsira-withdrawl) Answered on August 28, 2016 I’m 75 and retired. I have about $650K in a Roth and $98K in an IRA. My wife (age 73) has $900K in a…

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Should I not be using my IRA? (https://www.terrysavage.com/askterry/should-i-not-be-using-my-ira) Answered on August 28, 2016 I worked at a very large company in a middle management type of position for many years. About a…

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Annuity purchased — Terry Says “giant ripoff”! (https://www.terrysavage.com/ask-terry/annuity-purchased) Answered on August 27, 2016

I just heard you on WGN and have a question regarding the American Equity Gold deferred income…

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Buy or lease a car (https://www.terrysavage.com/ask-terry/buy-orlease-a-car) Answered on August 27, 2016 I am retired and I would like to get a new car. My car is 19 years old. What is your feeling about…

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IRA/401K — advice? (https://www.terrysavage.com/ask-terry/ira401k) Answered on August 27, 2016

Hi Terry, I’m sixty-three years old and have been retired for two years plus from the railroad…

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Life Insurance (https://www.terrysavage.com/ask-terry/life-insurance-4) Answered on August 27, 2016

I’m a single mom with three boys aged 26, 20 and 16. I can opt for additional life insurance through…

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senior property tax freeze in cook county (https://www.terrysavage.com/ask-terry/senior-property-tax-freeze-incook-county) Answered on August 26, 2016 My neighbor’s house was misclassified for 50 years as a two story with full basement when in reality…

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Engaged Couple Considering Savings Account Option (https://www.terrysavage.com/ask-terry/engaged-couple-consideringsavings-account-option) Answered on August 26, 2016 Hello Ms. Savage, Thank you for taking the time to answer our question. We are newly engaged and are…

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IRA BENEFICIARIES tax consequences? (https://www.terrysavage.com/ask-terry/ira-beneficiaries) Answered on August 26, 2016

Dear Terry, My 2 children are my IRA beneficiaries. If I die will they have to pay taxes on the…

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dividend reinvestment? (https://www.terrysavage.com/askterry/dividens) Answered on August 26, 2016 Is it best to let dividens roll back over to purchase more holdings of the same fund … or to take…

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Refinance Mortgage? (https://www.terrysavage.com/askterry/refinance-2) Answered on August 26, 2016 I am in the 8th year of a 30 year mortgage @ 4.5% with 85K remaining to be paid. Would it be wise to…

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IRA annuity income (https://www.terrysavage.com/ask-terry/iraannuity-income) Answered on August 21, 2016 I heard your comments on this on WGN. My husband passed away a year ago. I had all of his IRAs put…

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Assisted living (https://www.terrysavage.com/ask-terry/assisted-living) Answered on August 21, 2016

My parents (93 & 94) living in a 55+ community are needing to move to an assisted living…

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Long Term Care Insurance premium increase (https://www.terrysavage.com/ask-terry/long-term-care-insurancepremium-increase) Answered on August 21, 2016 Hi, Terry. In 2005, at age 56, I purchased LTC insurance through my employer, the federal…

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RMD used to purchase a QCD annuity. (https://www.terrysavage.com/ask-terry/rmd-used-to-purchase-a-qcdannuity) Answered on August 21, 2016 Dear Terry, Next year I and my wife will begin taking required minimum distributions from our…

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Identity Theft (https://www.terrysavage.com/ask-terry/identity-theft-3) Answered on August 14, 2016

I received a letter that I opened a savings account at some credit union in Virginia (never been…

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Student loans (https://www.terrysavage.com/ask-terry/student-loans-5) Answered on August 14, 2016

Hi Ms Savage, I’m sure you have addressed this type of question before…However, what is the best…

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Your recent Tribune column “do your research before diving into annuities” (https://www.terrysavage.com/ask-terry/your-recent-tribunecolumn-do-your-research-before-diving-into-annuities) Answered on August 14, 2016

Could you please elaborate a little more on your paragraph “take a portion of your rollover money”,…

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Life/Long-term care insurance. (https://www.terrysavage.com/askterry/lifelong-term-care-insurance) Answered on August 14, 2016 My wife (age 73) and I (soon to be 73) are in fairly good health (although my short term memory has…

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combo life/LTC policies ( as cited in you recent article) (https://www.terrysavage.com/ask-terry/combo-lifeltc-policies-as-citedin-you-recent-article) Answered on August 14, 2016 i am 84. Is that too old to get such a policy? if not, what companies, offer such policies and what…

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Special needs trust (https://www.terrysavage.com/ask-terry/specialneeds-trust-2) Answered on August 12, 2016 My son’s settlement was put into a special needs trust. The bank has been investing it in the stock…

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Grandchildren College Investment (https://www.terrysavage.com/askterry/grandchildren-college-investment) Answered on August 12, 2016 I’m trying to contribute to my grandchildren’s future college. I closed out Illinois Brightstart…

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Covered Calls (https://www.terrysavage.com/ask-terry/covered-calls) Answered on August 12, 2016

Hi Terry, Do you think selling covered calls on stocks is a viable growth option? I am interested in…

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difference in fed student loans (https://www.terrysavage.com/askterry/fed-loans) Answered on August 12, 2016 what is difference between fed direct subsidized loan and subsidized student loan…

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MRD (https://www.terrysavage.com/ask-terry/mrd) Answered on August 12, 2016

During the year that I turn 70 1/2, does any withdrawal from an IRA count toward the MRD, or do I…

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irrevocable trust for home (https://www.terrysavage.com/askterry/irrevocable-trust) Answered on August 12, 2016 What are the pros and cons of placing a personal residence in a trust?

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pre marriage finances (https://www.terrysavage.com/ask-terry/premarriage-finances) Answered on August 11, 2016 your recommendations for my son re: pre-marriage & $$? We are pretty well off, he has no debt,…

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401k distributions to adult children? (https://www.terrysavage.com/askterry/401k-3) Answered on August 11, 2016 I have a small(100k) 401k and will be 70 1/2 in a few years.Is there a way to give this money to my…

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BEST STOCKS TO INVEST IN INDIA AT PRESENT AND FOR HOW LONG (https://www.terrysavage.com/ask-terry/best-stocks-to-invest-inindia-at-present-and-for-how-long) Answered on August 11, 2016 WHICH ARE THE BEST STOCKS IN INDIA TO BUY NOW AT WHAT PRICE AND HOW LONG TO HOLD?

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Withdrawal rate in retirement? (https://www.terrysavage.com/askterry/withdraw-rate) Answered on August 10, 2016 Retired 4 months ago collect S S ,have Medicare and va health benefits,am in good health,should I…

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Silver bars or stocks? (https://www.terrysavage.com/ask-terry/silverbars) Answered on August 10, 2016 I asked a question of investing in silver bars or etf mutual fund Also going to a company like…

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Grandson’s 529 plan (https://www.terrysavage.com/askterry/grandsons-529-plan) Answered on August 10, 2016 I’m grandma owner/participant of my grandson’s 529 plan. Should I transfer it to his parents 529…

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First Time Home Purchase With Settlement Money (https://www.terrysavage.com/ask-terry/first-time-home-purchasesettlement-money) Answered on August 9, 2016 I have a question on this. I have decided to take half of my divorce settlement 26k after a year…

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Credit Card Debt (https://www.terrysavage.com/ask-terry/credit-carddebt-4) Answered on August 9, 2016 Hi Terry, I’m having difficulty paying off my credit card debt and am currently only able to make…

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Unexpected Gifted money (https://www.terrysavage.com/askterry/unexpected-gifted-money) Answered on August 9, 2016 I recently was gifted $28,000. I am 74 years young with about $250,000 invested in CD’s and a…

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Credit Score (https://www.terrysavage.com/ask-terry/credit-score-2) Answered on August 9, 2016

Hi Terry, I wrote to you over a year ago in reference to my inability to get a credit card after…

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457 ICMARC RETIREMENT (https://www.terrysavage.com/askterry/457-icmarc-retirement) Answered on August 9, 2016 Hello, My son is 23 yrs old and is a wild land firefighter and has just been offered benefits. How…

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Chicken money (https://www.terrysavage.com/ask-terry/chickenmoney-4) Answered on August 9, 2016 New to your site – What is Chicken Money?

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Annuitization done — now how do I gift the payments? (https://www.terrysavage.com/ask-terry/annuitization) Answered on August 9, 2016

This may be a study in frustration. I didn’t find the site before I made a decision to annuitize 4…

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Co-sign a car loan? (https://www.terrysavage.com/ask-terry/finance) Answered on August 8, 2016

A 80yr old needs very much to retire, but she has co sign for a vehicle for a family member and now…

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annuities in 40l(k) (https://www.terrysavage.com/ask-terry/annuities-5) Answered on August 8, 2016

What are both the positives and the negatives of putting a portion of a 401 K into an annuity after…

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Financial organizer (https://www.terrysavage.com/ask-terry/financialorganizer-2) Answered on August 8, 2016 I just signed up for your newsletter. I don’t see any link for the financial organizer form.

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Commercial real estate investment (https://www.terrysavage.com/askterry/commercial-real-estate-investment) Answered on August 8, 2016 I contacted “commercial real estate income funds” because I heard about it on WGN, the minimum…

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ETF’s that rebalance? (https://www.terrysavage.com/ask-terry/etfs-2) Answered on August 8, 2016

I recently transfered my some monies to an existing IRA that I’ve had for many years. I was…

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delayed annuity (https://www.terrysavage.com/ask-terry/delayedannuity) Answered on August 8, 2016 -Does cost of buying an annuity and amount of return f lactate with interest? -can I buy delayed…

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Index Funds — how to move my account (https://www.terrysavage.com/ask-terry/index-funds-2) Answered on August 7, 2016

Like many I am paying (1.3%) a fund management fee, in this case for my IRA/Roth retirement…

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personal financial organizer (https://www.terrysavage.com/askterry/personal-financial-organizer-3) Answered on August 7, 2016 where is the link for the Personal Financial Organizer? thank you, barbara…

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Co-Op Communities (https://www.terrysavage.com/ask-terry/co-opcommunities) Answered on August 6, 2016 Hi Terry, I hope you’re well and happy. I am a 71 year old widow and will sell my house in the next…

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debt (https://www.terrysavage.com/ask-terry/debt-2) Answered on August 5, 2016

Dear Terry, I am in desperate need of help. Our credit card bills amount to 40,000.00. Yep you read…

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Genworth LTCI (https://www.terrysavage.com/ask-terry/genworth-ltci) Answered on August 5, 2016

Mom is 95, legally blind, been paying premiums for years. Is it possible she will be taken off the…

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post-retirement investment strategy (https://www.terrysavage.com/askterry/post-retirement-investment-strategy) Answered on August 5, 2016 I understand the data on average superiority of index mutual funds to managed funds while building…

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universal life insurance (https://www.terrysavage.com/askterry/universal-life-insurance-2) Answered on August 5, 2016 my 92 yr old dad needs options for his universal life policy taken out in 1987. The insurance…

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Annuities direct (https://www.terrysavage.com/ask-terry/annuities-4) Answered on August 4, 2016

I heard last part of your discussion on 8/4 with Steve Bertrand re: annuities and was in the car so…

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Index Funds (https://www.terrysavage.com/ask-terry/index-funds) Answered on August 4, 2016

Your article in the Times about index funds suggests that index funds beat most managed funds over a…

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Stock and Housing Market — another crash? (https://www.terrysavage.com/ask-terry/stock-and-housing-market) Answered on August 4, 2016

Terry – I’m retiring in 2017 and I’m frightened by what I hear about another stock market adjustment…

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financial advisor (https://www.terrysavage.com/ask-terry/financialadvisor-2) Answered on August 4, 2016 We are meeting with a Geiger Wealth manager. I want to know if they sell only annuities and who…

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Marriage affecting personal credit scores… (https://www.terrysavage.com/ask-terry/marriage-affecting-personalcredit-scores) Answered on August 4, 2016 Hi Terry, My fiance and I were planning on getting married but she is afraid it will ruin her credit…

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July 2016 Questions & Answers By Terry Savage Investing (https://www.terrysavage.com/ask-terry/investing-4) Answered on July 30, 2016

Terry, I am new to investing. What is the best way to learn about stock & bond markets, …

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Corporate bonds (https://www.terrysavage.com/ask-terry/corporatebonds) Answered on July 29, 2016 I have 5 corporate bonds (laddered) and I wonder how safe these will be in the future. They are all…

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short term or long term disability insurance (https://www.terrysavage.com/ask-terry/short-term-or-long-termdisability-insurance) Answered on July 28, 2016 for a healthy 63 year old nearing retirement in 3 years with recently taking a less stressfull job,…

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Public Companies Going Private (https://www.terrysavage.com/askterry/public-companies-going-private) Answered on July 28, 2016 I own shares in a company that has deregistered from the SEC Stopped trading on the pink sheets – a…

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Required401k distribution (https://www.terrysavage.com/askterry/required401k-distribution) Answered on July 27, 2016 I am 81 and employed part time in a business owned by my sons. I am required to take my 401…

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403B — safety inside retirement plan? (https://www.terrysavage.com/ask-terry/403b) Answered on July 26, 2016 If bonds may take hit soon, how would you diversify your 403B with only 2 years to retirement?

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fixed annuity maturing (https://www.terrysavage.com/ask-terry/fixedannuity-maturing) Answered on July 26, 2016 Fixed annuity maturing 8/4 my husband took care of this …he has been diagnosed with dementia and I…

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ETF’s (https://www.terrysavage.com/ask-terry/etfs) Answered on July 26, 2016 Our current managed portfolio consists mostly of ETF’s vs Mutual funds. An advisor from a different…

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portfolio adjustment (https://www.terrysavage.com/ask-terry/portfolioadjustment) Answered on July 26, 2016 I am retired for three years. My present portfolio has a mutual fund component that is presently…

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Paying off equity line of credit (second Mortage), (https://www.terrysavage.com/ask-terry/paying-off-equity-line-of-creditsecond-mortage) Answered on July 22, 2016 Terry, I had a $50,000 (elc). I’ve paid it down to $11,000. The bank caught me at a bad time 2010…

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withdraw of 120.000 from fed thrift saving plan for down payment on house. (https://www.terrysavage.com/ask-terry/withdraw-of-120-000from-fed-thrift-saving-plan-for-down-payment-on-house) Answered on July 22, 2016

Terry, i’m a fed employee enrolled in the thrift saving plan. I will be 59 1/2 years old in November…

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Financial Organizer (https://www.terrysavage.com/ask-terry/newsletter) Answered on July 22, 2016

I signed up. when i got the response it gave a site to click on, but the site was not highlighted so…

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Financial adwaiser speak Polish? (https://www.terrysavage.com/askterry/financial-adwaiser) Answered on July 21, 2016 Do you know fiduciary financial adwaiser who speak polish?

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Life Insurance for Children (https://www.terrysavage.com/ask-terry/lifeinsurance-for-children) Answered on July 21, 2016 Hi Terry, Should I purchase life insurance for my children (ages 6months old & six years old)…

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Online bank CD’s (https://www.terrysavage.com/ask-terry/online-bankcds) Answered on July 21, 2016 There are a few online banks offering 2% but online banks seem so intangible, as long the bank is…

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Life Insurance Post Cancer Surgery (https://www.terrysavage.com/ask-terry/life-insurance-post-cancersurgery) Answered on July 21, 2016 Hello Terry, I am 58 years old and a 2 year cancer survivor – I had my prostate removed. My Gleason…

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Money receved from Annuity after divorce. (https://www.terrysavage.com/ask-terry/money-receved-from-annuityafter-divorce) Answered on July 21, 2016 What do I need to do with the money. I don’t want to lose it to taxes. I am 61 yrs old, Retired and…

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bond funds (https://www.terrysavage.com/ask-terry/bond-funds) Answered on July 21, 2016

I am 62 yo, still working, at least for another 2-1/2 years. My 403B is with American funds with no…

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Link to Terry’s Personal Financial Organizer (https://www.terrysavage.com/ask-terry/discussing-money-with-familyarticle) Answered on July 20, 2016 I signed up for your newsletter, but didn’t receive the link to your “Personal Financial Organizer.”…

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budgeting after divorce (https://www.terrysavage.com/askterry/budgeting) Answered on July 19, 2016 My ex-husband , who is an accountant, recently divorced me after 30 years of marriage. I trusted him…

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Going downhill fast! (https://www.terrysavage.com/ask-terry/goingdownhill-fast) Answered on July 19, 2016 My husband and I are 74 and 77….he has Alzheimer’s. We have both worked all of our lives but due…

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Safe haven for cash (https://www.terrysavage.com/ask-terry/safehaven-for-cash) Answered on July 13, 2016 Hi Terry, as of right now I am heavily invested in stocks and mutual funds. Where would you say is a…

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Best Options to Rollover Pension Funds (https://www.terrysavage.com/ask-terry/best-options-to-rolloverpension-funds) Answered on July 12, 2016 I am 58 years old recently retired from employment and requested my retirement pension in a lump sum…

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financial (https://www.terrysavage.com/ask-terry/financial) Answered on July 11, 2016

I am an 80 yr. old woman that worked and saved all my life. I don’t trust anyone with my money…

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Aspirity Holdings? (https://www.terrysavage.com/ask-terry/aspirityholdings) Answered on July 11, 2016 Are you familiar with this company, and if so, your opinion please. Thanks in advance…

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Closing Fees & Attorneys (https://www.terrysavage.com/askterry/closing-fees-attorneys) Answered on July 11, 2016 I just received and accepted an offer on my single family home. I have 4 days to find an attorney to…

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Health care charges (https://www.terrysavage.com/ask-terry/healthcare-charges) Answered on July 3, 2016 Can you assist my effort to have health care providers limited in their charges to uninsured or…

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pension investment being forced early (https://www.terrysavage.com/ask-terry/pension-investment) Answered on July 3, 2016

Greetings! One of our retirement pieces that we had no intention of touching until age 65, is a…

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Gold and silver now? (https://www.terrysavage.com/ask-terry/gold-andsilver) Answered on July 2, 2016 Is it a good time to invest in gold and silver?

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RMD Calculations on annuities in IRA (https://www.terrysavage.com/ask-terry/rmd-calculations) Answered on July 1, 2016

After I left my employer, I used money from a 401(k) and purchased IRA Annuities. I have not…

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Reverse mortgage for Mom? (https://www.terrysavage.com/askterry/reverse-mortgage-4) Answered on July 1, 2016 My mom is 76, and she is running out of money. She feels like she needs to sell her house. The house…

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US Savings Bond Re Deceased Beneficiary (https://www.terrysavage.com/ask-terry/us-savings-bond-re-deceasedbeneficiary) Answered on July 1, 2016 Upon my death (owner of bond), who will get the value of my US Bonds since my husband (beneficiary)…

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June 2016 Questions & Answers By Terry Savage Re: 401K investment (https://www.terrysavage.com/ask-terry/re-401kinvestment) Answered on June 25, 2016 Sorry I did not give enough info before I am 71 years old — 3 years retired Approximately $190K has…

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Credit Cards (https://www.terrysavage.com/ask-terry/credit-cards-3) Answered on June 24, 2016

My question is whether I should obtain another credit card. I presently have a credit card that I…

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BREXIT UPDATE (https://www.terrysavage.com/ask-terry/brexitupdate-2) Answered on June 24, 2016 What does this mean to your investments? Terry’s thoughts before the market open. And midday update!

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Debt Consolidation (https://www.terrysavage.com/ask-terry/debtconsolidation-2) Answered on June 23, 2016 Hi Terry! I am new to the working world after many years in graduate school and need to start paying…

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Home Equity Line of Credit or Mortgage — pay which first? (https://www.terrysavage.com/ask-terry/home-equity-line-of-credit) Answered on June 23, 2016

Hi Terry, We owe 100,000 on our home. We just took a variable rate {4.24%}Home equity line of credit…

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A Reader Responds: Bank regulations (Chicago Tribune June 20th) (https://www.terrysavage.com/ask-terry/bank-regulations-chicagotribune-june-20th-well-intended-programs) Answered on June 23, 2016 You are among the most-respected money oracles in the business, and here, you are just pointing to…

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Roth IRAs vs 40l(k) (https://www.terrysavage.com/ask-terry/roth-iras) Answered on June 23, 2016

Hi, Terry– I recently learned that I should not be putting money into two Roth IRAs monthly as I’ve…

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Credit Card Debt, balance transfers (https://www.terrysavage.com/askterry/credit-card-debt-balance-transfers) Answered on June 23, 2016 Hello Terry, I think you are Great, why didn’t we grow up on the same block ! I have found myself in…

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Betterment LLC (https://www.terrysavage.com/ask-terry/betterment-llc) Answered on June 22, 2016

At the end of the life expectancy calculator at Livingto100.com (mentioned in your recent column), I…

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Heloc — wait to repay or now? (https://www.terrysavage.com/askterry/heloc-3) Answered on June 21, 2016 My heloc matures in February 2020 and I have a balance of $10,200.00. I understand rates are going…

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Life after bankruptcy (https://www.terrysavage.com/ask-terry/lifeinsurancelife-after-bankruptcy) Answered on June 21, 2016 Hi Terry, I’m wondering if I need life insurance. Many years ago, I let my policy lapse because I…

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Reverse mortgage impact on senior med program? (https://www.terrysavage.com/ask-terry/reverse-mortgage-3) Answered on June 21, 2016

We own our home. Have no debts. Payoff our charge cards monthly. Our only income is Social Security.

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FICO score different on various sites (https://www.terrysavage.com/ask-terry/fico-score-2) Answered on June 20, 2016

My FICO score on my Discover statement is 589 and on credit karma it is 637 and 644. Why are they…

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mutual fund fees & disclosures (https://www.terrysavage.com/askterry/mutual-fund-fees-disclosures) Answered on June 20, 2016 This morning on WGN you mentioned FeeX.com to look up how much you are paying for mutual fund fees.

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Underwater home — can’t keep up with mortgage! (https://www.terrysavage.com/ask-terry/real-estate) Answered on June 20, 2016 Hi terry…. My husband and I inherited a home about 2 yrs ago … We’ve taken out personal loans to…

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Investing for a grandchild other than 529. (https://www.terrysavage.com/ask-terry/investing-for-a-grandchildother-than-529) Answered on June 20, 2016 I inherited a small amount of money and want to invest some of it for my only grandchild. She is 3.

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Savings Bonds to cash (https://www.terrysavage.com/ask-terry/bondsto-cash) Answered on June 20, 2016 Our grandson graduates next week, bonds we have (12 each yr) from 1998 to 2005, approximate value.

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Retired, Paying off debts (https://www.terrysavage.com/askterry/paying-off-debts) Answered on June 19, 2016 Hi Terry. I am a retired firefighter. My wife is employed and has her own retirement plan. I want…

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My daughter is marrying a bankrupt man! (https://www.terrysavage.com/ask-terry/bankrupcy) Answered on June 19, 2016 my daughter has good credit and has a good condo on her own she plans to marry someone soon who has…

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grad gift of stock (https://www.terrysavage.com/ask-terry/grad-gift) Answered on June 18, 2016

What stocks would you suggest this month as a graduation gift?

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finding a retirement planner (https://www.terrysavage.com/askterry/retirement-planners) Answered on June 18, 2016 I read your comments about choosing a financial planner but in addition, I am wondering if there is…

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Refinancing student loan (https://www.terrysavage.com/askterry/refinancing-student-loan-2) Answered on June 18, 2016 Hi Terry, my daughter is trying to refinance her student loans from law school. She has asked two…

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Reader responds to June 12 – Parents’ dilemna-buy sell or rent (https://www.terrysavage.com/ask-terry/june-12-parents-dilemna-buysell-or-rent) Answered on June 17, 2016 For the writer whose father cant’ seem to make a decision on how to split time between 2 locations…

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Paying off credit cards as retiree (https://www.terrysavage.com/askterry/paying-off-credit-cards) Answered on June 17, 2016 I have $15000 in credit card debt, paying $300 a month min. payment to them. Should I try to borrow…

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variable annuity in retirement account? (https://www.terrysavage.com/ask-terry/variable-annunity-2) Answered on June 17, 2016

HI Thank you for your great information Can you educate me on variable annuity ? I took out my 401k…

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parents dilemna –buy ,sell or rent (https://www.terrysavage.com/askterry/parents-dilemna-buy-sell-or-rent) Answered on June 12, 2016 hi-I am hopeful to have a reasoned answer to this perplexing issue– My parents are 80 and have a…

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Investments for retirement (https://www.terrysavage.com/askterry/investment-4) Answered on June 12, 2016 I am retired at 60 years old with a yearly income of $20,000.00. I am considering liquidating all…

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Gold Prices (https://www.terrysavage.com/ask-terry/gold-prices) Answered on June 12, 2016

Saw the newspaper article entitled “Gold prices are on the rise,” a few weeks ago. The article was…

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At my death. . . (https://www.terrysavage.com/ask-terry/deathinsurance) Answered on June 7, 2016 I am 64, have no real property nor investments & collect $662/monthe SSI. I have never married…

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consolidating credit cards (https://www.terrysavage.com/askterry/consolidating) Answered on June 6, 2016 I need to consolidate a few credit cards….who can i contact?

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Purchase Retirement Home Before Retirement (https://www.terrysavage.com/ask-terry/purchase-retirement-homebefore-retirement) Answered on June 5, 2016 My husband and I are in our mid 50’s and both working but plan to retire in our mid 60’s. We own a…

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5% Returns on Bridge Loans (https://www.terrysavage.com/askterry/wally-mackey-5-returns-on-bridge-loans) Answered on June 5, 2016 Just saw a TV commerical about a guaranteed 5% return with no risk. It was from Wally Mackey…

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Safety of recommed sites /SavindsBonds.com (https://www.terrysavage.com/ask-terry/safety-of-recommed-sitessavindsbonds-com) Answered on June 5, 2016 I entered all the info on me EE bonds in Saving Bonds.com including my name,email,address. They said…

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How to build up low retirement at 61 (https://www.terrysavage.com/ask-terry/how-to-build-up-low-retirementat-61) Answered on June 5, 2016 Hi, Terry! I am a single woman of 61 earning just $43000 per year working two jobs. My main…

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short term disability (https://www.terrysavage.com/ask-terry/shortterm-disability) Answered on June 5, 2016 I received my short term disability CHECK it was 216 i been out of work since April 8 when will i…

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RMD (https://www.terrysavage.com/ask-terry/rmd-4) Answered on June 5, 2016 I didn’t realize it was mandatory to take money out of my 401k plan at 71 1/2. Now, I find out, at…

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IRA with drawl to purchase my son first house who is currently unemployed (https://www.terrysavage.com/ask-terry/ira-with-drawl-topurchase-my-son-first-house-who-is-currently-unemployed) Answered on June 5, 2016

I am 62 years old and I would like to withdraw $100,000 to buy my son his first home. Is there…

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CD for house proceeds from estate? (https://www.terrysavage.com/ask-terry/cd-for-house-proceeds) Answered on June 4, 2016

My mom died recently and I hope her house will sell soon. A neighborhood bank has an 18 month CD…

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Paying for college for my daughter (https://www.terrysavage.com/askterry/paying-for-college-for-my-daughter) Answered on June 4, 2016 Terry I have payed for my daughters first year college with the college of Illinois fund. I saved…

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Vanguard High-Yield Corporate Fund (https://www.terrysavage.com/ask-terry/vanguard-high-yield-corporatefund) Answered on June 4, 2016 Dear Ms. Savage, I read your columns with great interest in the “ Sun Sentinel” and recently you…

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In ref to that answer about student loan debt ruining credit of married woman (https://www.terrysavage.com/ask-terry/concealed-studentloan-debt-ruins-credit-in-marriage-see-more-at-httpwww-terrysavagecomask-terryconcealed-student-loan-debt-ruins-credit-marriagesthashotcjilmf-dpuf) Answered on June 4, 2016 In reference to the above topic, if the woman would have initially filed her own tax return (so both…

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Early 20’s Need Retirement Plan Investing advice (https://www.terrysavage.com/ask-terry/early-20s-retirement) Answered on June 3, 2016

Hello Terry, I writing because I’m lost and don’t know what to-do. I just enrolled in my employers…

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insurance coverage for students up to the age of 26 (https://www.terrysavage.com/ask-terry/insurance-coverage-forstudents-up-to-the-age-of-26) Answered on June 3, 2016 hi Terry, I listen to you all the time on WGN. Today, (the 25th) I heard you talking about insurance…

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Should I pay off my mortgage? (https://www.terrysavage.com/askterry/should-i-pay-off-my-mortgage-2) Answered on June 3, 2016 Hi Terry, I have followed you for years — ever since you spoke at our Merck event in Cancun, Mexico…

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executor and funds from inheritance (https://www.terrysavage.com/ask-terry/executor-and-funds-frominheritance) Answered on June 3, 2016 Have you written any articles regarding being executor for an estate that contains both qualified…

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Health Insurance (https://www.terrysavage.com/ask-terry/healthinsurance) Answered on June 3, 2016 My son is an expat living/working in China and while he has limited health coverage through his…

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FeeX.com — Why so much info required? (https://www.terrysavage.com/ask-terry/feex-com) Answered on June 2, 2016 I just saw you on WGN discussing Feex.com. I visited the site and was surprised at the level of…

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FEEX.COM safety of information (https://www.terrysavage.com/askterry/feex-com-safety-of-information) Answered on June 2, 2016 You recomend the use of FEEX.COM to check for actual cost of fees. Has this site been thoroughly…

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Reducing Income and effect on social security benefit (https://www.terrysavage.com/ask-terry/reducing-income-and-effecton-social-security-benefit) Answered on June 2, 2016 Terry, I am working in the corporate world making a comfortable salary. I am 58 years old so I am 8…

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Investments at age 80 (https://www.terrysavage.com/askterry/investments-3) Answered on June 2, 2016 Should a 77-80 yrs old continue to buy properties like condo or another house for investments ? At…

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consolidation loans (https://www.terrysavage.com/askterry/consolidation-loans) Answered on June 2, 2016 Hi Terry, My husband and I are 52 and 53 years old. we have been working really hard to pay off our…

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Withdraw from IRA now — or save for daughter. (https://www.terrysavage.com/ask-terry/which-has-highest-taxes) Answered on June 2, 2016

At 75 are taxes less or more on closing my IRA;s vs. my daughter inheriting and paying taxes? Tax…

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May 2016 Questions & Answers By Terry Savage College Funds 529 (https://www.terrysavage.com/ask-terry/collegefunds-529) Answered on May 15, 2016 As grandparents, we have invested in the Oppenheimer Bright Start 529 funds for our six…

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Finding Financial advisor (https://www.terrysavage.com/askterry/finding-finacial-advisor) Answered on May 15, 2016 Hi Terry, I just sold my business and retired. I want to find a financial advisor to formulate the…

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Mortgage Notes Yield 6-7% — A scam? (https://www.terrysavage.com/ask-terry/mortgage-notes-yield-6-7scam) Answered on May 15, 2016 What is your opinion on First Position Commercial Mortgage Notes that pay 6-7% interest income ?

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Concealed Student Loan Debt ruins Credit in Marriage (https://www.terrysavage.com/ask-terry/concealed-student-loan-debtruins-credit-marriage) Answered on May 8, 2016 Hi Terry, My daughter was married last year. She was in good financial shape until then. Apparently…

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Reverse Mortgages (https://www.terrysavage.com/ask-terry/reversemortgages-4) Answered on May 8, 2016 I am considering a reverse mortgage. In general, what do you think of them and do you have any…

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Canceling credit cards (https://www.terrysavage.com/askterry/canceling-credit-cards) Answered on May 8, 2016 Hi Terry I am finally at the point that I have paid off all my credit cards However I have way too…

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Refinancing Home after Modification (https://www.terrysavage.com/ask-terry/refinancing-home-modification) Answered on May 7, 2016

Good Morning, I live in Wisconsin, my home is located in California, I Purchased through a FHA loan…

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Buying gold proof coins (https://www.terrysavage.com/askterry/buying-gold-proof-coins) Answered on May 5, 2016 Terry, what do you think about buying proof quality silver and gold coins from the U.S. Mint?

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Buying individual stocks for young investors (https://www.terrysavage.com/ask-terry/buying-individual-stocksyoung-investors) Answered on May 5, 2016 What is the program that allows investors, especially young people, to purchase individual stocks in…

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Payoff home or Invest for Retirement? (https://www.terrysavage.com/ask-terry/payoff-home-invest-retirement) Answered on May 5, 2016

Hi Terry .I owe$220,000 on my house .I am 56 years old ,my wife is 59. we probably will not be…

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Annuities (https://www.terrysavage.com/ask-terry/annuities-10) Answered on May 5, 2016

Through circumstances beyond my control, I have limited funds at the age of 75. And find myself…

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QLACS (https://www.terrysavage.com/ask-terry/qlacs) Answered on May 3, 2016

what do you think of QLACS?

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Annuities (https://www.terrysavage.com/ask-terry/annuities-9) Answered on May 2, 2016

Are annuities a good idea and if so which types? We are discussing the possibility with our Fidelity…

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Roth IRA (https://www.terrysavage.com/ask-terry/roth-ira-2) Answered on May 2, 2016

Hi Terry Here is my question…. I’m 59 years old and I have $6,500.00 to invest. Do I add it to my…

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Real Estate Income Fund (https://www.terrysavage.com/ask-terry/realestate-income-fund) Answered on May 1, 2016 Hi Terry, I’ve started looking at this fund “Secured Real Estate Income Fund” that was mentioned on…

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Can I sue the appraiser? (https://www.terrysavage.com/ask-terry/cansue-appraiser) Answered on May 1, 2016 Ms.Savage, Is it possible to take an appraiser to small claims court based on the lies stated in the…

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April 2016 Questions & Answers By Terry Savage Need cash — where to take it from (https://www.terrysavage.com/askterry/need-cash-take) Answered on April 30, 2016 Need $15,000.00 should I take out of my investments (about 150,000) or consider a reverse mortgage?

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Life Insurance running out! (https://www.terrysavage.com/ask-terry/lifeinsurance-running) Answered on April 30, 2016 My wife and I purchased Life Insurance when we were in our early 30s and we are 63. We recently had…

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paying off mortgage or saving in bank (https://www.terrysavage.com/ask-terry/paying-off-mortgage-savingbank) Answered on April 30, 2016 my husband and I are in late 60’s with approximately $80K owed on mortgage. He is planning on…

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Reverse Loan Mortgage (https://www.terrysavage.com/askterry/reverse-loan-mortgage) Answered on April 30, 2016 What are the pros and cons of taking a reverse loan mortgage?

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Buy bonds now? Contribute to 457 plan? (https://www.terrysavage.com/ask-terry/buy-bonds-now-contribute-457plan) Answered on April 30, 2016 Terry, Is this a good time to invest in short term Bonds,if so how do I go about picking a Bond? I…

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Gifting money (https://www.terrysavage.com/ask-terry/gifting-money-7) Answered on April 20, 2016

Hi Terry, I am the person who asked you a question about giving my son a gift of about $50,000 to…

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Mortgages for Seniors (https://www.terrysavage.com/askterry/mortgages-for-seniors) Answered on April 20, 2016 Terry: We are retired (63/60) with a healthy portfolio of assets ($2.7mm), but modest income…

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Student Loans (https://www.terrysavage.com/ask-terry/student-loans4) Answered on April 20, 2016 Hi Terry, I have recently decided to go back to school to pursue a new career. As excited as I am,…

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Home equity line of credit (https://www.terrysavage.com/askterry/home-equity-line-credit) Answered on April 19, 2016 My wife and I have a new home I may want to put another room in the basement is this a good thing…

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Finding a Certified Financial Planner (https://www.terrysavage.com/ask-terry/finding-certified-financialplanner) Answered on April 18, 2016 My husband and I are in our mid-50’s. We have saved and invested for years and want to have a CFP…

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Where to get Credit SCORE? (https://www.terrysavage.com/askterry/annual-credit-report) Answered on April 18, 2016 You always say the best source to check your credit report is AnnualCreditReport.com, but it’s…

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Equity loan denied for co-signing student loan (https://www.terrysavage.com/ask-terry/equity-loan-denied-co-signingstudent-loan) Answered on April 18, 2016 I apply for a home equity loan line of credit they denied me because u cosigner for my kids students…

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student debt (https://www.terrysavage.com/ask-terry/student-debt) Answered on April 18, 2016

I am a grandmother attempting to help out with my grandson’s student debt. He owes $20,096.72 @6.8%…

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Starting investing at 40. (https://www.terrysavage.com/askterry/starting-investing-40) Answered on April 17, 2016 I am almost 41 years old. I bought a condo a few years ago. I don’t have more than 5K in savings but…

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IRA investment (https://www.terrysavage.com/ask-terry/ira-investment3) Answered on April 17, 2016 What kind of funds at age 70 should an IRA be invested in?

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How to protect myself when going downtown and be able to protect my wallet or credit cards? (https://www.terrysavage.com/ask-terry/protectgoing-downtown-able-protect-wallet-credit-cards) Answered on April 17, 2016 when going down town or any where and be able to protect my wallet or credit cards, etc what do you…

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DOUBLE MONTHLY PAYMENT TO SHORTEN PAYOFF PERIOD (https://www.terrysavage.com/ask-terry/double-monthly-paymentshorten-payoff-period) Answered on April 16, 2016 HOW SOON CAN I PAYOFF MY MORTGAGE IF I DOUBLE MY MONTHLY AMORTIZATION? WHAT ARRANGEMENT DO I HAVE TO…

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refinance my home (https://www.terrysavage.com/ask-terry/refinancemy-home) Answered on April 15, 2016 listening to WGN morning news TV, was getting ready for work & caught part of your refinancing…

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Gifting money for down payment (https://www.terrysavage.com/askterry/gifting-money-payment) Answered on April 15, 2016 I would like to give a gift of cash for a down payment for a house to my son. Around 50,000 to…

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refinance in retirement (https://www.terrysavage.com/askterry/refinance-in-retirement) Answered on April 15, 2016 I will be 63 this year and I still owe $157,820.22 for mortgage (not pay off amount) at 4.00% still…

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401K withdrawal vs. personal loan (https://www.terrysavage.com/askterry/401k-withdrawal-vs-personal-loan) Answered on April 15, 2016 Hello, I am a 30 year old. I am quitting my job to go back to a trade school to become a web…

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(MAP) Managed Allocation Portfolios/fees (https://www.terrysavage.com/ask-terry/map-managed-allocationportfoliosfees) Answered on April 15, 2016 We are retired for several years. We have been with this financial group for 20+ years. A few years…

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Wills — Can I do it Myself Online? (https://www.terrysavage.com/askterry/wills-can-online) Answered on April 4, 2016 what secure site can I go to print out my will? will it be legal? Do I need to have an expensive…

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Gift tax return needed if gift is returned? (https://www.terrysavage.com/ask-terry/gift-tax-return-needed-giftreturned) Answered on April 4, 2016 Hi Terry, if ownership of an insurance policy valued at about $60K is transferred from a mother to a…

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Alternatives to a traditional bank savings account. (https://www.terrysavage.com/ask-terry/alternatives-traditional-banksavings-account) Answered on April 4, 2016 Dear Terry: I would like to know your suggestion for transferring some of my funds, which I have in…

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ROTH IRA –minor child as beneficiary (https://www.terrysavage.com/ask-terry/roth-ira-minor-child-beneficiary) Answered on April 4, 2016

What are the rules when leaving a ROTH IRA to a minor child?

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Beneficiaries and contingent beneficiaries (https://www.terrysavage.com/ask-terry/beneficiaries-contingentbeneficiaries) Answered on April 4, 2016 Terry, what is your opinion regarding POD’s or TOD’s (pay or transfer upon death) accounts? I think…

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March 2016 Questions & Answers By Terry Savage social securitydeal (https://www.terrysavage.com/ask-terry/socialsecuritydeal) Answered on March 31, 2016 My wife is 68 collects 1300/month I am 64 I collect 1700/month from social security ,are we able use…

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File and suspend. (https://www.terrysavage.com/ask-terry/file-andsuspend) Answered on March 30, 2016 I just heard you discussing this with Steve Bertrend on WGN radio. I read your article a few times…

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W-9 to fill out for beneficiary for my mom’s annunity benefits (https://www.terrysavage.com/ask-terry/w-9-fill-beneficiary-momsannunity-benefits) Answered on March 30, 2016 What box do I check for Line 3 on a W-9 form. I have to fill this out and turn it into my mom’s John…

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Series EE paper U.S. Savings Bonds (https://www.terrysavage.com/ask-terry/series-ee-paper-u-s-savingsbonds) Answered on March 30, 2016 I have 15 $100 Series EE U.S. Savings Bonds issued in 1995. My SSN is on the bonds. My name is…

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Property tax exemptions while in rehab care outside the home (https://www.terrysavage.com/ask-terry/property-tax-exemptionsrehab-care-outside-home) Answered on March 30, 2016 If my parent does not occupy the home due to disability or care need at this time or any time during…

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Annuity purchase (https://www.terrysavage.com/ask-terry/annuitypurchase) Answered on March 30, 2016 Terry, I hear all these financial people saying that an annuity purchased through a Broker can be…

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Why are trade deals good for America? (https://www.terrysavage.com/ask-terry/trade-deals-good-america) Answered on March 29, 2016

I am wondering if you could explain why international trade pacts are a good thing for the American…

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Euro – US Dollar (https://www.terrysavage.com/ask-terry/euro-usdollar) Answered on March 29, 2016 In Last 5 or 6 years 0. 88 – 0.90 Euro buys 1.00 USD I do not see how Euro has fallen against US…

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safe IRA investment for 90 year old (https://www.terrysavage.com/askterry/safe-ira-investment-90-year-old) Answered on March 28, 2016 Hi Terry, When my mother turns 90 next year her variable annuity IRA will annuitize. We would like…

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FIA (https://www.terrysavage.com/ask-terry/fia) Answered on March 28, 2016 Recently an advisor was indicating that we should invest in an FIA. I am a few years away from…

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Column on 401(k) Borrowing (https://www.terrysavage.com/askterry/column-401k-borrowing) Answered on March 28, 2016 Good Morning….Being a lifelong Chicago resident I have always enjoyed your sage advice on…

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Tax on Social Security benefits? (https://www.terrysavage.com/askterry/tax-social-security-benefits) Answered on March 28, 2016 I am a 78 year old woman, fully employed, receiving widow’s pension from social security. Are my…

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Drawing out money from a fixed annuity (https://www.terrysavage.com/ask-terry/drawing-money-fixed-annuity) Answered on March 28, 2016

I can draw out 10 percent of the annuity yearly or 20 percent for the first time on a withdrawal. I…

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Retirement Pension (https://www.terrysavage.com/askterry/retirement-pension) Answered on March 28, 2016 I am 54 yo and retired. My husband passed away and his death benefits support me. When I turn 55 I…

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Retirement investment advice (https://www.terrysavage.com/askterry/retirement-investment-advice) Answered on March 28, 2016 HI Terry, I am planning to retire at the end of this year when I will be 68 yrs. old and, if needed,…

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Long Term Care Insurance (https://www.terrysavage.com/askterry/long-term-care-insurance-22) Answered on March 28, 2016 My husband in his mid 80s has a long term care policy that he has had since 2007. In retrospect,…

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Taxes and other financial implications of renting my condo in Chicago (https://www.terrysavage.com/ask-terry/taxes-financial-implicationsrenting-condo-chicago) Answered on March 27, 2016 Hi Terry! I’m thinking of renting out my condo in Chicago. I was wondering about the tax…

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medicaid nursing home care and cash-value life insurance (https://www.terrysavage.com/ask-terry/medicaid-nursing-home-carecash-value-life-insurance) Answered on March 27, 2016 I live in Michigan, am 82 years old and my husband passed away a year ago. I have a question on a…

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Include car payment into mortgage? (https://www.terrysavage.com/ask-terry/include-car-paymentmortgage) Answered on March 27, 2016 Hi Terry I was caught in the housing market crash of 2008 & had to file bankruptcy to save my…

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457 Retirement Plan (https://www.terrysavage.com/ask-terry/457retirement-plan) Answered on March 27, 2016 My daughter, in her 20s, just got hired as a police officer and is offered a 457 deferred…

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roth ira for child who is jobless (https://www.terrysavage.com/askterry/roth-ira-child-jobless) Answered on March 27, 2016 Can a parent set up a Roth IRA for an adult child who is jobless?

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plus loans refinancing (https://www.terrysavage.com/ask-terry/plusloans-refinancing) Answered on March 23, 2016 I listened to you today on WGN. You mentioned a sight where I could find information on refinancing…

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Tax and penalty consequences of cashing in EE Savings Bonds several years after their full maturity date. (https://www.terrysavage.com/ask-terry/tax-penalty-consequencescashing-ee-savings-bonds-several-years-full-maturity-date) Answered on March 22, 2016

Terry, I enjoyed your informative article dated 11-22-15 re “…cashing in savings bonds.” In…

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Chicken Money (https://www.terrysavage.com/ask-terry/chickenmoney-3) Answered on March 21, 2016 After a lifetime of saving, I have $300,000 in ”chicken money,” other investments, and a pension.

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transferring credit card debt to a 0% credit card. (https://www.terrysavage.com/ask-terry/transferring-credit-card-debt-0credit-card) Answered on March 21, 2016 Cannot remember which card you suggested to transfer existing debt and pay off in one year. Also,…

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401K annuities? (https://www.terrysavage.com/ask-terry/401kannuities) Answered on March 21, 2016 Hello Terry, Read your book several years ago and followed your column back in Chicago when i was…

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social security — file and suspend? (https://www.terrysavage.com/askterry/social-security-file-suspend) Answered on March 21, 2016 I was born 6/1950. My husband was born 8/1947. He is presently working and not taking social…

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Passing on financial assets in a Will (https://www.terrysavage.com/askterry/passing-financial-assets-will) Answered on March 20, 2016 My wife and I, both in our late 60’s, have built a retirement nest egg, not huge, but comfortable.

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lifr insurance loan (https://www.terrysavage.com/ask-terry/lifrinsurance-loan) Answered on March 20, 2016 I owe a mortgage on the home I presently live in. I want to buy another home and to pay for it with…

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Refinance to 15 year? (https://www.terrysavage.com/askterry/refinance-15-year) Answered on March 20, 2016 We just refinanced our home with a 30 year 2.99% rate. We owe $227,000.00. Our payment is $1700, but…

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what to do with a 65k inheritance? (https://www.terrysavage.com/askterry/what-to-do-with-a-65k-inheritance) Answered on March 20, 2016 We are retired( 69 & 71) living ok on social security. We are inheriting 65k. We have no debt.

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what to do with idle cash (https://www.terrysavage.com/ask-terry/whatto-do-with-idle-cash) Answered on March 20, 2016 I have cash which I will not be using for a long time. What do I do to make it grow?

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LONG TERM CARE INSURANCE — really? (https://www.terrysavage.com/ask-terry/long-term-care-insurancereally) Answered on March 12, 2016 My wife (66) and myself (72) do not have LTC insurance as we have always thought it better to save…

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safe max cost of new home purchase (https://www.terrysavage.com/ask-terry/safe-max-cost-new-homepurchase) Answered on March 12, 2016 I am a newly retired teacher and am shopping for a new home for retirement. i am planning on paying…

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parent plus college loans (https://www.terrysavage.com/askterry/parent-plus-college-loans) Answered on March 12, 2016 my son has college loans and I have 36,000 in Parent plus loans for him. Interest rates is 7.65. can…

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CMS-500 Bill from Medicare (https://www.terrysavage.com/askterry/cms-500-bill-medicare) Answered on March 12, 2016 Terry, what is this CMS-500 form that my wife just received in the mail. I did a search on it and…

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Chicago taxi medallion — I’m bankrupt! (https://www.terrysavage.com/ask-terry/chicago-taxi-medallion-imbankrupt) Answered on March 7, 2016 Hi Terry First of all I like to thank you I often listen to you on radio and you discuss cab…

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Reverse Mortgage (https://www.terrysavage.com/ask-terry/reversemortgage-9) Answered on March 6, 2016 thinking of reverse mortgage am 66 years old owe 40;000 home worth 125;000 any red flags I need to…

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DEBT (https://www.terrysavage.com/ask-terry/debt) Answered on March 6, 2016

I HAVE A BANK OF AMERICA CREDIT CARD DEBT OF $5,000, WHERE I KEEP TRANSFERRING MY BALANCE TO PAY…

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Tax writeoff for health insurance? (https://www.terrysavage.com/askterry/tax-writeoff-health-insurance) Answered on March 6, 2016 Can I write off the cost of private health insurance on my tax return?

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Long Term Care Insurance (https://www.terrysavage.com/askterry/long-term-care-insurance-11) Answered on March 5, 2016 Terry My husband and I recently met with our financial advisor to discuss long term care insurance.

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refinancing mortgage in your sixties (https://www.terrysavage.com/askterry/refinancing-mortgage-sixties) Answered on March 4, 2016 Hi! My parents are 61 and 66 y.o. & are wondering if refinancing their mortgage is a good idea.

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debt counselor recommendation (https://www.terrysavage.com/askterry/debt-counselor-recommendation) Answered on March 4, 2016 Terry could you recommend a reputable group for our niece to discuss debt counseling. They are a…

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Credit Cards search (https://www.terrysavage.com/ask-terry/creditcards-search) Answered on March 4, 2016 What web site or association can I go to to find a new low interest credit card.

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Have a $80k stock loss carryover (https://www.terrysavage.com/askterry/80k-stock-loss-carryover) Answered on March 4, 2016 I am 85 and have had this carryover for several years.( was higher some years ago) but currently can…

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homeowners insurance online comparisons? (https://www.terrysavage.com/ask-terry/homeowners-insurance-onlinecomparisons) Answered on March 4, 2016 Do you have a recommended site to shop for homeowners insurance?

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Does delaying Social Security pay off if I am retired with no Social Security wages? (https://www.terrysavage.com/ask-terry/delayingsocial-security-pay-off-retired-no-social-security-wages) Answered on March 4, 2016

I retired 20 months ago at age 63. My full retirement age is 66. I have not applied for Social…

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Medicare supplement (https://www.terrysavage.com/askterry/medicare-supplement) Answered on March 4, 2016 Dear Terry, there has been some articles,blogs,etc.,concerning choosing part “G” instead of the more…

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Series I Savings Bonds (https://www.terrysavage.com/ask-terry/seriessavings-bonds) Answered on March 2, 2016 Calculated Value of Your Savings Bonds (treasurydirect.gov/.SBC/Price) does not list the interest…

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consolidate student loans? (https://www.terrysavage.com/askterry/consolidate-student-loans) Answered on March 2, 2016 HI, I want to consolidate my 6-figure student loans into a single fixed interest rate loan. I know…

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Bright Start College Saving Plan (https://www.terrysavage.com/askterry/bright-start-college-saving-plan) Answered on March 2, 2016 Hello, I read a question someone asked you about College Saving Plans and I read your answer about…

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Changing Savings Bonds Beneficiary (https://www.terrysavage.com/ask-terry/changing-savings-bondsbeneficiary) Answered on March 2, 2016 My dad owns savings bonds naming my uncle as the beneficiary. My uncle recently passed away. How can…

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Home refinancing (https://www.terrysavage.com/ask-terry/homerefinancing) Answered on March 1, 2016 Hello Terry, I recently lost my job and my husband and I decided that the best thing to do is to…

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February 2016 Questions & Answers By Terry Savage Longevity annuity (https://www.terrysavage.com/ask-terry/longevityannuity) Answered on February 28, 2016 Would have a recommendation that I could check with. Ed jones recommended Pacific Life- do you have…

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Social Security Deferral (https://www.terrysavage.com/ask-terry/socialsecurity-deferral) Answered on February 28, 2016 I was reading your column in the newspaper and had a question about what was said about social…

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safe investment for cash from home sale (https://www.terrysavage.com/ask-terry/safe-investment-cash-homesale) Answered on February 23, 2016 I am a 60 year old widower just sold my house and have 150000.00 to invest. Im on social security…

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continuing care vs long term care insurance (https://www.terrysavage.com/ask-terry/continuing-care-vs-long-termcare-insurance) Answered on February 23, 2016 what is your current opinions on the two: continuing care facility or continue with long term…

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Quicken 2016 for Mac (https://www.terrysavage.com/askterry/quicken-2016-mac) Answered on February 23, 2016 Can you understand why the Quicken folks would publish a budget program that WILL NOT allow a user…

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Retirement funds (https://www.terrysavage.com/ask-terry/retirementfunds) Answered on February 23, 2016 Hi Terry, my husband and I are recently retired. We have a 403b, and Ira accounts. We know that we…

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ETF – GEUR and GYEN to buy Gold (https://www.terrysavage.com/ask-terry/etf-geur-gyen-buy-gold) Answered on February 18, 2016

What is an appropriate percentage of total portfolio to invest in both GEUR and GYEN ETF’s? I…

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They said I “abandoned” my long-term account — and sold the stock! (https://www.terrysavage.com/ask-terry/said-abandoned-long-termaccount-sold-stock) Answered on February 18, 2016 terry, i purchased 100 shares of baxter in 1985. over the years i reinvested the dividends and…

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municipal zero coupon college bond redemption (https://www.terrysavage.com/ask-terry/municipal-zero-coupon-collegebond-redemption) Answered on February 18, 2016 how do I find out if the bond was cashed.

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Governor speech (https://www.terrysavage.com/ask-terry/governorspeech) Answered on February 17, 2016 Terry, Not a question but just wanted to say that I agreed with your thoughts on Governor Rauners…

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Gold — How to Buy It? (https://www.terrysavage.com/ask-terry/goldhow-to-buy-it) Answered on February 16, 2016 I heard you discussing negative interest rates and saving in a down economy and how gold can be a…

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Stamp collection valuation (https://www.terrysavage.com/askterry/stamp-collection-valuation) Answered on February 16, 2016 Do you know where I might sell my dad’s old stamp collection? I don’t know anything about stamps, so…

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Lifelock, Really?? (https://www.terrysavage.com/ask-terry/lifelockreally) Answered on February 16, 2016 Your column is generally quite helpful but how can you recommend Lifelock in your column when…

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401k Rollover to annuity? (https://www.terrysavage.com/askterry/401k-rollover-annuity) Answered on February 16, 2016 I am working with a financial planner who wants me to roll my 401k into an annuity that he says will…

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capital gains on sale of property (https://www.terrysavage.com/askterry/capital-gains-sale-property) Answered on February 16, 2016 Hi Terry I read your column just about every week and my question to you is about capital gains. My…

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Freezing credit (https://www.terrysavage.com/ask-terry/freezing-credit) Answered on February 16, 2016

I took your advice – froze my credit – should my wife also freeze her credit ? She has been a…

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Minimum Required Distribution (https://www.terrysavage.com/askterry/minimum-required-distribution) Answered on February 15, 2016 I have a 401k and an IRA. At age 70 and a half, can I take a distribution from one account to…

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gold stocks (https://www.terrysavage.com/ask-terry/gold-stocks) Answered on February 15, 2016

I would like to invest a small amount of money in gold not gold itself but in the gold mines is…

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income from stock in 401(k) (https://www.terrysavage.com/askterry/income-stock-401k) Answered on February 15, 2016 My husband and I are living on our S.S. income. We need additional income and are thinking of taking…

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Mortgage refi in second marriage (https://www.terrysavage.com/askterry/mortgage-refi-second-marriage) Answered on February 15, 2016 I remarried 6 years ago and I myself invested in a condo in Florida which I bought for $165 K at an…

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Homeowner exemptions and senior “freeze” on property taxes (https://www.terrysavage.com/ask-terry/homeowner-exemptionssenior-freeze-property-taxes) Answered on February 14, 2016 Can I get more then 1 Senior real estate tax exemption ? Can I send in Senior citizen exemption and…

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Investments in retirement (https://www.terrysavage.com/askterry/investments-in-retirement-2) Answered on February 14, 2016 Terry I have several questions on moving money from a 401k to an IRA. Currently the money is in a T…

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Ads for high rate CD Offerings (https://www.terrysavage.com/askterry/ads-high-rate-cd-offerings) Answered on February 11, 2016 Terry, We often see advertisements in the Chicago Tribune from Sun Cities Financial Group offering…

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Senior on how to Pay off Debt (https://www.terrysavage.com/askterry/senior-pay-off-debt) Answered on February 11, 2016 I am 71 years old semi retired. I have considerable debt ( 40,000.) and was wondering if I should…

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If I owe on taxes because of sale of home (https://www.terrysavage.com/ask-terry/owe-taxes-sale-home) Answered on February 8, 2016

My husband 69 and myself 66 sold our home of 44 years. We paid 110 sold it for 490,000. We took a…

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tax brackets on capital gains (https://www.terrysavage.com/askterry/tax-brackets-capital-gains) Answered on February 7, 2016 you mentioned in a brief article dated oct 2015 that the tax rates that one pays on capital gains…

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Going back to school (https://www.terrysavage.com/ask-terry/goingback-school) Answered on February 6, 2016 I currently work as Public Health Nutritionist, and I have the opportunity to go back to…

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Applying for student loans with bad credit (https://www.terrysavage.com/ask-terry/applying-student-loans-badcredit) Answered on February 6, 2016 Hi Terry I’m 36 years old and going to school full time in September for a 2 year program. I’ve…

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401K review (https://www.terrysavage.com/ask-terry/401k-review) Answered on February 5, 2016

Hi Terry, How often should I review my 401K account and make adjustments? Thanks, Julie…

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IF THE STOCK MARKET WERE TO CRASH (https://www.terrysavage.com/ask-terry/stock-market-crash) Answered on February 5, 2016

If the stock market were to crash…say, worse than 2008, where should one have their money? And,…

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Capital gains distributed in a mutual fund (https://www.terrysavage.com/ask-terry/capital-gains-distributedmutual-fund) Answered on February 5, 2016 When a mutual fund distributes capital gains—does the fund pay any taxes or is the total tax…

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Homeowners tax exemption (https://www.terrysavage.com/askterry/homeowners-tax-exemption) Answered on February 5, 2016 How far back can i claim my home owners tax exemption? Thanx…

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heard you WGN radio – Freezing credit (https://www.terrysavage.com/ask-terry/heard-wgn-radio-freezingcredit) Answered on February 5, 2016 61- Retired – no debit cards – no mortgage or planning to get one- 2 credit cards – use as charge…

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FICO Scores (https://www.terrysavage.com/ask-terry/fico-scores) Answered on February 4, 2016

I have a Discover It credit card that provides a updated FICO score as part of my monthly statement.

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Validating Bank Account Beneficiaries (https://www.terrysavage.com/ask-terry/validating-bank-accountbeneficiaries-2) Answered on February 4, 2016 How do you make sure your bank will have the beneficiary you have chosen for your account when you…

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Credit Card Debt scenerio (https://www.terrysavage.com/askterry/credit-card-debt-scenerio) Answered on February 4, 2016 Hi Terry, You recently persuaded and discouraged me from filing for Bankruptcy. Thank you! I am…

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Short-term Commercial Real Estate Loans? (https://www.terrysavage.com/ask-terry/short-term-commercial-realestate-loans) Answered on February 4, 2016 Hi Terry, know you’re very busy! But what’s your advice on short-term Commercial Real Estate loans?

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CD rates! (https://www.terrysavage.com/ask-terry/cd-rates-2) Answered on February 4, 2016

Hi Terry, What’s your advice please! BMO-Harris Bank just started offering a new CD rate of 2 %,…

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January 2016 Questions & Answers By Terry Savage Parent Plus Loan and Retirement (https://www.terrysavage.com/askterry/parent-plus-loan-retirement) Answered on January 31, 2016 Hi, and thank you for reading this. I have a 80,000 Parent Plus loan that I will need to start…

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taxes on capital gains (https://www.terrysavage.com/ask-terry/taxescapital-gains) Answered on January 31, 2016 my taxable income for 2015 was $63,061.37; and I sold some long term real estate for $125,000. do I…

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best credit card (https://www.terrysavage.com/ask-terry/best-creditcard) Answered on January 30, 2016 What is the best credit card to get that offers cash back on all your purchases?

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Student loan (https://www.terrysavage.com/ask-terry/student-loan-3) Answered on January 30, 2016

I have a federal Student loan taken out for $35,000 between 1992 and 1994 consolidated in 2001.

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Home buying before or after retirement (https://www.terrysavage.com/ask-terry/home-buying-retirement) Answered on January 29, 2016

I’ve been researching the issue of whether to purchase a home before I retire or wait to after? I…

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withdrawal of balance of reverse mtge funds (https://www.terrysavage.com/ask-terry/withdrawal-balance-reversemtge-funds) Answered on January 28, 2016 Considering withdrawal of balance in reverse mtge of $190,000 and want to keep it safe and liquid.

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College Scholarships – For H4 visa (Dependents of H1 Work Visa) holders (https://www.terrysavage.com/ask-terry/college-scholarshipsh4-visa-dependents-h1-work-visa-holders) Answered on January 28, 2016 Hello Terry, Read your column on how to maximize college scholarships that you can receive (in…

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US Savings Bonds (https://www.terrysavage.com/ask-terry/us-savingsbonds-2) Answered on January 28, 2016 I have some US Savings Bonds that will mature as early as June and another group later this year. Am…

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401(k) rebalancing (https://www.terrysavage.com/ask-terry/401krebalancing) Answered on January 27, 2016 Terry, please advise if the current downturn is a time to rebalance your 401(k) or if rebalancing…

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Taking Spousal Social Security and delaying my own SS (https://www.terrysavage.com/ask-terry/taking-spousal-social-securitydelaying-ss) Answered on January 27, 2016 My wife and I have filed for Social Security. We are 66 years old. She is taking her full benefit…

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long term care insurance reference (https://www.terrysavage.com/askterry/long-term-care-insurance-reference) Answered on January 27, 2016 I am a widow..live alone should I consider long term insurance and what should I look for so I am…

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Taking RMD from one IRA, and not another? (https://www.terrysavage.com/ask-terry/taking-rmd-one-ira-notanother) Answered on January 27, 2016 I have two IRA annuities. I would like to take ALL of the RMD total requirement from one of the…

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Scholarship money (https://www.terrysavage.com/askterry/scholarship-money) Answered on January 27, 2016 I’m at freshman at NIU and I was looking for some free money to help me out. Can you please get back…

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Commercial Mortgage Bridge Loans (https://www.terrysavage.com/ask-terry/commercial-mortgage-bridgeloans-4) Answered on January 27, 2016 Commercial Mortgage Bridge Loans came to my attention on Steve Cochran’s show. I am 74, very…

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Personal Financial Organizer form? (https://www.terrysavage.com/askterry/personal-financial-organizer-form) Answered on January 27, 2016 A while ago there was an information sheet on your website. This could be filled out with important…

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selling my house for cash (https://www.terrysavage.com/askterry/selling-house-cash) Answered on January 27, 2016 I want to sell my house valued at around 150,000 for cash am I able to do that if I still owe …

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indexed annuities (https://www.terrysavage.com/ask-terry/indexedannuities) Answered on January 27, 2016 Have been hearing a lot recently about indexed annuities. Any thoughts and/or comments would be…

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IRA — rollover to funds from broker? (https://www.terrysavage.com/ask-terry/ira-rollover-funds-broker) Answered on January 25, 2016

I ave an IRA about 165,000. with Smith Barney should I move it to Fidelity or VanGuard?

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Daughter with grandchildren moved back home with debt (https://www.terrysavage.com/ask-terry/daughter-grandchildrenmoved-back-home-debt) Answered on January 25, 2016 Divorced eight (8) years ago our daughter recently moved back home with my wife and I along with…

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ETF for Income (https://www.terrysavage.com/ask-terry/etf-for-income) Answered on January 25, 2016

I purchased a eft stock, PDI. I keep hearing both good and bad. My main interest is dividend income.

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Roth IRA (https://www.terrysavage.com/ask-terry/roth-ira) Answered on January 24, 2016

Yes Terry, I am a retired 61 year old single male with a full postal pension and need to know if it…

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Retirement account (https://www.terrysavage.com/ask-terry/retirementaccount) Answered on January 23, 2016 I have been retired 5 years. I have a deferred nationwide retirement solutions account with 80…

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Selling Funds and moving to Money Market Funds (https://www.terrysavage.com/ask-terry/selling-funds-moving-moneymarket-funds) Answered on January 22, 2016 I am 61 don’t plan on retiring until age 66. I have approximately $300,000 in a variety of American…

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Looking to invest 28k for 1 to 2 years (https://www.terrysavage.com/ask-terry/looking-invest-28k-1-2-years) Answered on January 22, 2016

Hi Terry, I have 28k I would like to invest for up to 2 years with the least amount of risk. What…

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Rollover 401k, IRA to a commercial market bridge loan (https://www.terrysavage.com/ask-terry/rollover-401k-ira-commercialmarket-bridge-loan) Answered on January 21, 2016 Was listening to WGN this morning and the financial advisor was quite adamant about rolling over…

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What do you do with an extra $20K a year? (https://www.terrysavage.com/ask-terry/extra-20k-year) Answered on January 21, 2016

My Native American tribe has just begun issuing per capita payments totaling $20,000 per year. I am…

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Pay off mortgage vs Saving for College (https://www.terrysavage.com/ask-terry/pay-off-mortgage-vs-savingcollege) Answered on January 21, 2016 Hi Terry, I cant seem to get an honest answer on this question because everyone I ask has their own…

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protecting my retirement funds (https://www.terrysavage.com/askterry/protecting-retirement-funds) Answered on January 21, 2016 I need regular withdrawals from my IRA to supplement my social security living expenses. How can I…

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Life Insurance — Still Need it? (https://www.terrysavage.com/askterry/life-insurance-still-need) Answered on January 21, 2016 My husband is 52 and his term life ends in April. At this point in his/our lives… should he get…

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Dividends vs Index Fund (https://www.terrysavage.com/askterry/dividends-vs-index-fund) Answered on January 21, 2016 I’m invested 90% in vanguards total stock market I had a high at one time of around 300 thousand…

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Heart (https://www.terrysavage.com/ask-terry/heart) Answered on January 21, 2016

Heard you on WGN radio this morning…..Do you still wear your heart necklace? I remember it so well…

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Pension (https://www.terrysavage.com/ask-terry/pension) Answered on January 21, 2016

I have a TIAACREF and IMRF pension account. How do I choose the funds to invest in? I am 58 and hope…

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Fee for Service Financial Planner (https://www.terrysavage.com/askterry/fee-service-financial-planner) Answered on January 17, 2016 Can you recommend a Fee for Service Financial Planner in the northwest suburbs of Chicago? We want…

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GRANDPARENT OWNED PREPAID ILL COLLEGE 529 PLAN (https://www.terrysavage.com/ask-terry/grandparent-owned-prepaid-illcollege-529-plan) Answered on January 16, 2016 when the distribution is made in the first year and considered income to the beneficiary, is it…

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Dependent (https://www.terrysavage.com/ask-terry/dependent) Answered on January 16, 2016

Hi Terry, My question is my mother is 96 years of age and lives with my husband and I. We own our…

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High Investment return — no risk? (https://www.terrysavage.com/askterry/high-investment-return-no-risk) Answered on January 15, 2016 Hi Terry, I recall you being on a radio segment in November or December speaking about gaining 6 or…

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RMD (https://www.terrysavage.com/ask-terry/rmd-3) Answered on January 15, 2016

My mother is 87 and her health has been declining recently. I had her withdraw more than the…

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Lottery and Collapse Prevention (https://www.terrysavage.com/askterry/lottery-collapse-prevention) Answered on January 14, 2016 Ms. Savage: I have heard stories about Lottery winners that wound up going broke, or otherwise…

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Stock investing and Reverse Mortgage (https://www.terrysavage.com/ask-terry/stock-investing-reversemortgage) Answered on January 14, 2016 My husband and I are 72 and 73. We have our Northern home paid for, but have an $80,000 mortgage on…

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Children’s student loans (https://www.terrysavage.com/askterry/childrens-student-loans) Answered on January 14, 2016 Hello, I have 2 daughters and I’m helping them pay student loans off, I give them each 500 dollars a…

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Can I be required to repay a gift through a will? (https://www.terrysavage.com/ask-terry/can-required-repay-gift-will) Answered on January 14, 2016

I went through a very turbulent divorce, with children, in 1998. My parents knew I did not have the…

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My wealth accounts — sell now? (https://www.terrysavage.com/askterry/wealth-accounts-sell-now) Answered on January 13, 2016 Hi Terry, Love hearing you on WGN. I’m a 71 yr. old retired single male. I have accounts with…

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IRA AND ANNUNITY — Mistake? (https://www.terrysavage.com/askterry/ira-annunity-mistake) Answered on January 13, 2016 I recently converted my IRA into an Annunity — now i;m feeling like this was not the right thing…

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Retirement fund in stock market now? (https://www.terrysavage.com/ask-terry/retirement-fund-stock-marketnow) Answered on January 13, 2016 Here we go again!?… I’m less than 5 yrs out for retiring (59) and the market appears to be…

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Disability insurance or college fund? (https://www.terrysavage.com/ask-terry/disability-insurance-collegefund) Answered on January 13, 2016 What are your views on Disability Insurance? I took out a policy 5 years ago after my divorce…

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Life insurance Whole life insurance policies with Northwestern Mutual Life Ins. Co. (https://www.terrysavage.com/ask-terry/life-insurancewhole-life-insurance-policies-northwestern-mutual-life-ins-co) Answered on January 13, 2016

I have three NML insurance policies & all are paid up with quite high cash values, etc. I am…

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Risky Life Insurance (https://www.terrysavage.com/ask-terry/risky-lifeinsurance) Answered on January 12, 2016 This week you discussed life insurance. You were warning people about a certain type of policy that…

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Lottery Winnings (https://www.terrysavage.com/ask-terry/lotterywinnings) Answered on January 12, 2016 I understand all of the hoopla about the billion dollar power ball lottery, the effect of taxes on…

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retirement money mistake? (https://www.terrysavage.com/askterry/retirement-money-mistake) Answered on January 12, 2016 I withdrew my money from my 403B account and my financial person turned it over to LPL to invest,…

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529 plans Rollover (https://www.terrysavage.com/ask-terry/529-plans3) Answered on January 6, 2016 I have set up 529 plans with Brightstart in Illinois for two grandsons who live in Wisconsin. I see…

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RMD (https://www.terrysavage.com/ask-terry/rmd-2) Answered on January 5, 2016

My wife and I must start taking the RMD from our IRA’s in calendar 2016. What’s the best discipline…

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Savings Bonds (https://www.terrysavage.com/ask-terry/savings-bonds2) Answered on January 5, 2016 Terry, First off, Happy New Year to you. The questions below are for my mother who doesn’t have…

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Stock Brokers (https://www.terrysavage.com/ask-terry/stock-brokers) Answered on January 4, 2016

Terry What is your opinion of full service stock brokers like Edward Jones opposed to companies like…

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Living Trust (https://www.terrysavage.com/ask-terry/living-trust) Answered on January 4, 2016

What steps are needed to be taken by my daughter to put my living trust in effect after my…

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adjusted basis record keeping (https://www.terrysavage.com/askterry/adjusted-basis-record-keeping) Answered on January 4, 2016 My wife and I paid $45000 for our home and have made $50000 in improvements(let’s assume they all…

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Balance Transfer on Credit Card (https://www.terrysavage.com/askterry/balance-transfer-credit-card) Answered on January 3, 2016 Hi, is there any legitimate credit card offers for 0% balance transfers to move a high balance(more…

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From Universal Life to Whole Life (https://www.terrysavage.com/askterry/universal-life-whole-life) Answered on January 3, 2016 We recently converted our universal whole life policies (which we had for 35 years) to whole life…

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IRA withdrawals hit Health Plan premium subsidy! Act NOW! (https://www.terrysavage.com/ask-terry/ira-withdrawals-hit-health-planpremium-subsidy-act-now) Answered on January 3, 2016 In 2014 I took money out of my Prudential IRA. Had some medical bills and had given my 2002 Ford…

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Cutting taxes on IRA withdrawals (https://www.terrysavage.com/askterry/cutting-taxes-ira-withdrawals) Answered on January 3, 2016 How can I cut taxes on my IRA withdrawals ? How can I transfer money from a spouse’s federal thrift…

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term life insurance ending (https://www.terrysavage.com/askterry/term-life-insurance-ending) Answered on January 3, 2016 At what point do you stop needing life insurance. my term life just ran out. to renew it went from…

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college savings plans — IL or not? (https://www.terrysavage.com/askterry/college-savings-plans-il-not) Answered on January 3, 2016 advice please for starting a college savings program for Illinois colleges. this would be for use in…

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Finding a CFP for retirement (https://www.terrysavage.com/askterry/finding-cfp-retirement) Answered on January 3, 2016 Hi – I’m trying to choose a certified financial planner who specializes in pre-retirement planning.

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December 2015 Questions & Answers By Terry Savage FAFSA/IRS dependent status for child age 23 (https://www.terrysavage.com/ask-terry/fafsairs-dependent-statuschild-age-23) Answered on December 27, 2015 My daughter is 23 years old on 1/1/16 and can file her own FAFSA for ’16-17 undergrad year, however…

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split mortgage 80/20 (https://www.terrysavage.com/ask-terry/splitmortgage-8020) Answered on December 27, 2015 My daughter purchased a condo. Bank did a 80/20 mortgage. her 1st one is with the bank she uses and…

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529 grandparents asset — impact on FAFSA? (https://www.terrysavage.com/ask-terry/529-grandparents-assetimpact-fafsa) Answered on December 27, 2015 Terry, My daughter has a 529 pre paid plan that will pay for 120 credit hours. Her grandmother is…

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which 529 do I choose? (https://www.terrysavage.com/ask-terry/which529-do-i-choose) Answered on December 26, 2015 What 529 plan are you recommending. I have read that you do not recommend Brightstart or College…

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Investment Advice (https://www.terrysavage.com/ask-terry/investmentadvice) Answered on December 26, 2015 Is this a good time to invest in the S&P 500? If so, how would I go about investing in the fund…

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savings bonds 30 year (https://www.terrysavage.com/askterry/savings-bonds-30-year) Answered on December 26, 2015 terry i have 3 or 4 savings bonds that are due this month 30 year ones that are earning 5 percent…

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70+ pont drop in credit score (https://www.terrysavage.com/askterry/70-pont-drop-credit-score) Answered on December 23, 2015 February 2015 I had my bankruptcy discharged. Since then, I have been able to obtain credit cards…

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Compound intrrest (https://www.terrysavage.com/ask-terry/compoundintrrest) Answered on December 23, 2015 Hi Terry. is $150,000 in one account with an interest rate of 5% the same as having $150000 spread…

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MINOR’S SAVING ACCOUNTS (https://www.terrysavage.com/askterry/minors-saving-accounts) Answered on December 23, 2015 Do you know of any banks that offer some incentive for opening a minor saving account. I know…

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investing for children (https://www.terrysavage.com/ask-terry/investingfor-children) Answered on December 23, 2015 What is the best way to give a child money for investment? I wanted to buy savings bonds for my god…

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gifting and tax deductions (https://www.terrysavage.com/askterry/gifting) Answered on December 22, 2015 If I gift money to a one of my children,can i deduct it from this years taxes? If so is there a…

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FAFSA, financial aid and 529s (https://www.terrysavage.com/askterry/fafsa-financial-aid-529s) Answered on December 22, 2015 When I filed FAFSA it did not ask for both divorced parents income. I was just in court last week…

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high interest rate loans (https://www.terrysavage.com/ask-terry/highinterest-rate-loans) Answered on December 22, 2015 I live in Lansing, Il. I obtained an loan in May 2013 in the amount of 2,525.00 the interest rate…

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529 for grandkids (https://www.terrysavage.com/ask-terry/529-forgrandkids-2) Answered on December 21, 2015 Terry, In your 12-20 Chicago tribune column, you said “don’t start withdrawing until the junior year…

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529s (https://www.terrysavage.com/ask-terry/529s) Answered on December 21, 2015

Terry’s column in 12/20/15 Hartford Courant, “5 things to know about FAFSA, financial aid, 529s”…

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when to find cheap airfare? (https://www.terrysavage.com/askterry/find-cheap-airfare) Answered on December 21, 2015 What’s the cheapest time of year to buy airfare for travel in early January 2017? Thanks, Bob…

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Grandparent Custodian of UTMA, FAFSA impact? (https://www.terrysavage.com/ask-terry/grandparent-custodian-utmafafsa-impact) Answered on December 21, 2015 I am a grandparent I have a custodial stock account for a grandchild. When filling out a FAFSA…

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529 good? (https://www.terrysavage.com/ask-terry/529-good) Answered on December 21, 2015

I have a two year old and have a small 529 now for her but want to continue to invest for her…

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Broker’s commission on purchase/sale of Exchange Traded Funds (https://www.terrysavage.com/ask-terry/brokers-commissionpurchasesale-exchange-traded-funds) Answered on December 21, 2015 What is the broker’s commission on purchase/sale of Exchange Traded Funds?

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Income Levels – – – Senior Living Communities (https://www.terrysavage.com/ask-terry/income-levels-senior-livingcommunities) Answered on December 21, 2015 I am a single retired individual and have been looking at the possibility of moving to a senior…

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Children stock gift cards (https://www.terrysavage.com/askterry/children-stock-gift-cards) Answered on December 20, 2015 Where are these stock gift cards available in chicago area – NW suburbs? Thx…

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Replacing Lost Savings Bonds (https://www.terrysavage.com/askterry/replacing-lost-savings-bonds) Answered on December 20, 2015 Greetings, I recently read an article of yours in the Chicago Tribune on Sunday, November 22, 2015.

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529 for grandkids (https://www.terrysavage.com/ask-terry/529-forgrandkids) Answered on December 20, 2015 Is it better for us, the grandparents, to maintain 529s in ours and the grandkids’ names OR give the…

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Inheritance and taxes (https://www.terrysavage.com/askterry/inheritance-and-taxes) Answered on December 20, 2015 This Christmas has been especially trying for us. My husband just started treatment for prostate…

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FAFSA for divorced parents (https://www.terrysavage.com/askterry/fafsa-divorced-parents) Answered on December 20, 2015 Terry, In your recent article “5 Things to know about FAFSA”, you state “The FAFSA form ask for all…

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College Savings (https://www.terrysavage.com/ask-terry/collegesavings-2) Answered on December 18, 2015 We have a college savings account through Hartford for my son. It is a custodial account with my…

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We need a financial therapist! (https://www.terrysavage.com/askterry/need-financial-therapist) Answered on December 16, 2015 Hi Terry, I love hearing your financial advice on WGN. I am writing because my husband and I need…

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Selling a House Now (https://www.terrysavage.com/ask-terry/sellinghouse-now) Answered on December 16, 2015 Hi Terry, I just heard your segment on 720AM in Chicago and I have a question that I hope you can…

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Savings accounts vs Investments for Grandchildren (https://www.terrysavage.com/ask-terry/savings-accounts-vsinvestments-grandchildren) Answered on December 16, 2015 Hi Terry- We have savings accounts for each of our 17 (yes 17!!) grandchildren and deposit money in…

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Investment after sale of family farm (https://www.terrysavage.com/askterry/investment-3) Answered on December 16, 2015 We sold our family farm, I received $216K. I paid off credit cards and bills, I put money into my…

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REVERSE MORTGAGES (https://www.terrysavage.com/askterry/reverse-mortgages-3) Answered on December 16, 2015 Approaching the age of 62 in May, and may be interested in applying for a reverse mortgage.I sent…

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Rollovers/transfers from one 529 beneficiary to another (https://www.terrysavage.com/ask-terry/rolloverstransfers-one-529beneficiary-another) Answered on December 6, 2015 I am owner of several 529 education plan accounts for 8 grandchildren and great grandchildren. I…

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Buy life insurance on grandkid’s parents? (https://www.terrysavage.com/ask-terry/buy-life-insurance-grandkidsparents) Answered on December 6, 2015 Can (or should) my wife and I buy an adequate life policy on one or both of my daughter and…

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Pay Off Our Mortgage? (https://www.terrysavage.com/ask-terry/payoff-mortgage) Answered on December 6, 2015 Hi Terry, My wife and I are both 30 and recently married. We have no debt other than a couple of…

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Old Italian Bond Certificates (https://www.terrysavage.com/askterry/bonds-3) Answered on December 5, 2015 TERRY,I FOUND SOME ITALIAN DEBIT BONDS ISSUED IN 1941 AMONG MY GRANDMOTHERS BELONGINGS.WOULD YOU…

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Stock gift card and capital gains (https://www.terrysavage.com/askterry/stock-gift-card-capital-gains) Answered on December 4, 2015 Terry, very interesting Savage Truth this week. Question: Are there thresholds of dollar amounts…

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Cashing in Savings Bond — Taxes (https://www.terrysavage.com/askterry/us-savings-bonds) Answered on December 4, 2015 I read your article on US savings bonds in Sunday’s paper 11/22/15. You stated that you must pay…

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savings bond taxes at maturity (https://www.terrysavage.com/askterry/savings-bond-taxes-maturity) Answered on December 4, 2015 Re: Balto. Sun article 11/22, do not understand paying Fedral taxes on year savings bond mature even…

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Financial Advisor information (https://www.terrysavage.com/askterry/financial-advisor-information) Answered on December 4, 2015 Hi Terry, I wrote to you recently after leaving my advisor and moving money to Vanguard. However,…

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Stockpile and OMG book (https://www.terrysavage.com/askterry/stockpile-omg-book) Answered on December 3, 2015 I liked your idea of the stockpile giftcard and will purchase one for each of my 14 year old…

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ACA open enrollment – How do CSR’s work? (https://www.terrysavage.com/ask-terry/aca-open-enrollment-csrswork) Answered on December 3, 2015 Enrolling via the marketplace for the first time this year. Your article in the Tribune mentions…

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Confidence in pensions (vs. other savings forms)? (https://www.terrysavage.com/ask-terry/confidence-pensions-vssavings-forms) Answered on December 3, 2015 Hello Terry, I’m 36, and In my 10th year as a public school teacher. My school district and state…

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Reverse Mortgage (https://www.terrysavage.com/ask-terry/reversemortgage-2) Answered on December 3, 2015 My husband is considering it. Is it a good idea or not?

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where to get those savings piggybanks (https://www.terrysavage.com/ask-terry/get-savings-piggybanks) Answered on December 3, 2015

You mentioned in a newspaper article a savings piggy bank for children with four compartments.

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Will Vs. Trust (https://www.terrysavage.com/ask-terry/will-vs-trust-2) Answered on December 2, 2015

My husband and I are delinquent in visiting an attorney for estate planning purposes. We are in our…

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As a single senior, rent or buy a residence? (https://www.terrysavage.com/ask-terry/single-senior-rent-buyresidence) Answered on December 1, 2015 I am a single young (67) senior who recently sold a home that I knew would require significant…

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November 2015 Questions & Answers By Terry Savage Savings bonds — gift to avoid taxes? (https://www.terrysavage.com/ask-terry/savings-bonds-gift-avoidtaxes) Answered on November 30, 2015 My wife and I are both 72 years old and we have $80,000 in U.S. Savings bonds dating back to 1989.

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EE savings bonds (https://www.terrysavage.com/ask-terry/ee-savingsbonds-3) Answered on November 30, 2015 I purchased bonds years ago and they were not registered correctly so that my child cld use them for…

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Victim of Identify Theft (https://www.terrysavage.com/ask-terry/victimidentify-theft) Answered on November 30, 2015 Hi Terry! Rt. now I’m on my 3rd 90-day credit alert with Equifax/TransUnion/Experian. I’ve filed a…

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529 college fund choice (https://www.terrysavage.com/ask-terry/529college-fund-choice) Answered on November 30, 2015 Which 529 college fund do you recommend?

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stock for kids (https://www.terrysavage.com/ask-terry/stock-for-kids) Answered on November 28, 2015

The other day when I was driving I heard you speak about $50 or so could get grandchildren into the…

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Medicare Supplemental Insurance Plans – any gotchas? (https://www.terrysavage.com/ask-terry/medicare-supplementalinsurance-plans-gotchas) Answered on November 28, 2015 I am 69, and have been experiencing chronic back and hip pain. I received ultrasound physical…

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Maturing Series EE Bonds taxes (https://www.terrysavage.com/askterry/maturing-series-ee-bonds-taxes) Answered on November 28, 2015 Regarding your article on maturing 30 year Series EE Bonds, you indicated that Federal Income Tax…

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Personal Financial Organizer (https://www.terrysavage.com/askterry/personal-financial-organizer-2) Answered on November 28, 2015 Where do you find the Personal Financial Organizer? This is what I am referring to. “To help get the…

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2016 financial preparedness (https://www.terrysavage.com/askterry/2016-financial-preparedness) Answered on November 28, 2015 Terry, we’re in a predicament here in how we should prepared for 2016 and need your advice. I am 63…

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Roth for kids? (https://www.terrysavage.com/ask-terry/roth-for-kids) Answered on November 28, 2015

My 78-year-old father has convinced my tween daughters to put their babysitting/pet sitting money…

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Social Security Credits (https://www.terrysavage.com/ask-terry/socialsecurity-credits) Answered on November 28, 2015 Hi Terry, I am almost 61 years old and have earned 32 work credits prior to 1990. I have worked with…

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Savings bonds valuations (https://www.terrysavage.com/askterry/savings-bonds-valuations) Answered on November 28, 2015 11.27.15 good informatio in Chicago Tribune. how do we run a savings bond valuation report? is there…

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Balance Transfer vs. Loan (https://www.terrysavage.com/askterry/balance-transfer-vs-loan) Answered on November 26, 2015 Hello Terry. I have multiple cards and can only afford to make the minimum payment on each one. I’m…

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Cancel my disability insurance now? (https://www.terrysavage.com/ask-terry/cancel-my-disability-insurancenow) Answered on November 26, 2015 Do I still need disability insurance? I can afford it. I am a 61 yr. old dentist who hopes to work…

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Cost of Financial Planners (https://www.terrysavage.com/askterry/cost-of-financial-planners) Answered on November 25, 2015 Hi Terry, I am a single woman who has been a diligent saver my entire life. I have always tried to…

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Places to put RMD dollars (https://www.terrysavage.com/askterry/places-to-put-rmd-dollars) Answered on November 25, 2015 My wife and I are both retired. I am taking my RMD dollars as required. We have excess dollars as…

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Safer Investments, but higher yields? (https://www.terrysavage.com/ask-terry/safer-investments) Answered on November 25, 2015

I have been researching safer (than stocks) investment options such as indexed annuities and…

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College loans debt refinancing? (https://www.terrysavage.com/askterry/college-loans-debt-refinancing) Answered on November 25, 2015 We have $100,000 in college loan debt. Where can we get the best interest to pay this off? Also,…

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gold ion form of strips for wallet (https://www.terrysavage.com/askterry/gold-ion-form-of-strips-for-wallet) Answered on November 24, 2015 I recently heard of gold being sold [GOldline] in form of strips for carrying in wallet in place of…

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Account Information Aggregation (https://www.terrysavage.com/askterry/account-information-aggregation) Answered on November 24, 2015 I have several mutual funds at different firms along with a 401k. I’m looking for a piece of…

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borrowing from retirement plan for down payment? (https://www.terrysavage.com/ask-terry/borrowing-from-retirementplan-for-down-payment) Answered on November 24, 2015 Hi Terry I’m in the market of buying a house. I have been preapproved of a purchase price of…

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Re: your recent column referencing Umbrella Insurance. (https://www.terrysavage.com/ask-terry/re-your-recent-columnreferencing-umbrella-insurance) Answered on November 24, 2015 In your recent column on “5 kinds of insurance needed”, under umbrella coverage,you stated ones…

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bi-monthly and / or extra toward principle? (https://www.terrysavage.com/ask-terry/bi-monthly-and-or-extratoward-principle) Answered on November 23, 2015 If I borrow, say $50,000 for 15 years at 4.74%, what makes for the quicker payoff? Paying monthly…

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Mortgage Documents (https://www.terrysavage.com/askterry/mortgage-documents) Answered on November 23, 2015 Where or how can I get a copy of your 5 Things to know about mortgage documents that I can email…

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Indexed universal life (https://www.terrysavage.com/ask-terry/indexeduniversal-life) Answered on November 23, 2015 What is your opinion of indexed universal life as part of a retirement strategy…

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House needs fixing husband won’t pay, won’t sell — help! (https://www.terrysavage.com/ask-terry/house-needs-fixing-husbandwont-pay-wont-sell-help) Answered on November 23, 2015 We own a home around built around 1984, 2,900 sq. ft. We pay 7.5% interest (we had bad credit when…

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Married Couple – Joint Trust or Individual Trusts (https://www.terrysavage.com/ask-terry/married-couple-joint-trust-orindividual-trusts) Answered on November 23, 2015 Our assets are in both names (home, condo(investment), savings and checking accounts). I have an…

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Taxes on paying off mortgage (https://www.terrysavage.com/askterry/taxes-on-paying-off-mortgage) Answered on November 22, 2015 Terry, I am 67 want to pay off mortgage with a IRA Matured CD. Do I have to pay taxes on that amount…

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Value of old AT&T shares (https://www.terrysavage.com/askterry/value-of-old-att-shares) Answered on November 22, 2015 I have 2 AT&T stocks from NY gifted to me from 1967 and 1968. How can I find out what they are…

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Term Life Insurance after 65 (https://www.terrysavage.com/askterry/term-life-insurance-after-65) Answered on November 22, 2015 Is it worth it?

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EE savings bonds. (https://www.terrysavage.com/ask-terry/ee-savingsbonds-2) Answered on November 22, 2015 I have EE savings bonds that matured in the years 2013 and 2014. You mentioned in your column in…

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Longterm care insurance w pre-existing illness (https://www.terrysavage.com/ask-terry/longterm-care-insurance-wpre-existing-illness) Answered on November 22, 2015 Can you get longterm care insurance with a pre-existing illness?

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re”5 kinds of insurance you might need” (https://www.terrysavage.com/ask-terry/5-kinds-of-insurance-youmight-need-recent-article) Answered on November 22, 2015 not a question..a comment..In your article, you indicated a carpentry might want to consider…

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Long term care insurance (https://www.terrysavage.com/ask-terry/longterm-care-insurance-10) Answered on November 22, 2015 I wanted to know the approximate cost of a combination policy of life and long term care. I read…

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Series EE Savings Bond Information (https://www.terrysavage.com/ask-terry/series-ee-savings-bondinformation) Answered on November 22, 2015 I have purchased small EEbonds for my grandchildren but need to know where to find information on…

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Investing retirement funds (https://www.terrysavage.com/askterry/investing-retirement-funds) Answered on November 22, 2015 I need to invest retirement funds safely. I have to live off the interest. Invested with one firm…

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Escrow (https://www.terrysavage.com/ask-terry/escrow) Answered on November 21, 2015

Refinanced in 2013. Ocwen Mortgage bought the contract. They raised my monthly payment by $160 a…

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SoFi (https://www.terrysavage.com/ask-terry/sofi) Answered on November 21, 2015

Hi Terry I read the article printed on June 21, 2015. Sounds wonderful! I hope that some day my son…

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EE Bond Tax Problem (https://www.terrysavage.com/ask-terry/eebond-tax-problem) Answered on November 21, 2015 Dear Terry, It appears that, according to an article in your column in the money section, I have a…

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Insurance/Cognitive Decline — notification of lapse (https://www.terrysavage.com/ask-terry/insurancecognitive-declinenotification-of-lapse) Answered on November 21, 2015 Just read your column in today’s Baltimore Sun. Don’t some insurance companies allow the…

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Medicaid qualification (https://www.terrysavage.com/askterry/medicaid-qualification) Answered on November 21, 2015 My wife is owner of whole life policy and I am the insured. Will she have to cash the policy in for…

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457 rollover (https://www.terrysavage.com/ask-terry/457-rollover) Answered on November 21, 2015

Terry, I am curious about what to do with money that I have in an employer (fire department)…

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Roth IRA for adult children (https://www.terrysavage.com/askterry/roth-ira-for-adult-children) Answered on November 21, 2015 I have 3 children aged 29, 28 and 25. Now that all of their college education expenses are done, I…

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Mortgage refinance (https://www.terrysavage.com/ask-terry/mortgagerefinance) Answered on November 21, 2015 In 07-08 I was fighting stage 4 cancer. Thank God survived. Went back to a great job but they then…

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Help choosing Medicare supplement plan! (https://www.terrysavage.com/ask-terry/help-choosing-medicaresupplement-plan) Answered on November 21, 2015 I’m turning 65 in February and am overwhelmed by Medicare, its options and supplements! Where do I…

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HELOC and death of husband (https://www.terrysavage.com/askterry/heloc-and-death-of-husband) Answered on November 21, 2015 My husband recently died at age 54. We have a HELOC with Chase Bank that became due just before his…

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Upside Down on Car (https://www.terrysavage.com/ask-terry/upsidedown-on-car) Answered on November 21, 2015 Terry, I have a baby on the way and would like to purchase a vehicle that is safer and easier to…

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Capitalism vs socialism (https://www.terrysavage.com/askterry/capitalism-vs-socialism) Answered on November 21, 2015 Listen to you on WGN recently. Please repete quote from teacher about capitolism and socialism. You…

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Best way to contribute to Mother’s care: early social security or withdrawals from retirement account (https://www.terrysavage.com/ask-terry/best-way-to-contribute-tomothers-care-early-social-security-or-withdrawals-from-retirementaccount) Answered on November 21, 2015 My 98 year old mother’s savings are depleted and her pension is not enough to cover her assisted…

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Need new direction (https://www.terrysavage.com/ask-terry/need-newdirection) Answered on November 21, 2015 I have about 50K in 5-6 stocks. I have been losing since the ’08 meltdown (prior to ’08 had…

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Long Term Care Insurance (https://www.terrysavage.com/askterry/long-term-care-insurance-9) Answered on November 21, 2015 I heard you talk about LTC insurance on WGN radio a couple of months ago. I don’t see anything…

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I bonds — when do they mature? (https://www.terrysavage.com/askterry/i-bonds-when-do-they-mature) Answered on November 5, 2015 How long are you able to keep I bonds without having to cash them in and report interest like 30…

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Savings for a 8 and 9 year old – Best investment vehicle? (https://www.terrysavage.com/ask-terry/savings-for-a-8-and-9-year-oldbest-investment-vehicle) Answered on November 4, 2015 Hello, I would like to put $5,000 for each of my kids into some sort of an investment account. What…

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old US savings bond (https://www.terrysavage.com/ask-terry/old-ussavings-bond) Answered on November 3, 2015 My mother recently passed and while going through her desk we found a bond made out to me for my…

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Paying off a Credit Card balance (https://www.terrysavage.com/askterry/paying-off-a-credit-card-balance) Answered on November 2, 2015 Hi Terry! I love watching your segments on WGN. I have a CC with a purchase finance charge at 13%…

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Upside down property… What to follow? (https://www.terrysavage.com/ask-terry/upside-down-property-what-tofollow) Answered on November 2, 2015 I lost my job in 2013 and my husband took on my debt. Our home was once worth $315,000 but with the…

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Extra principal payments on mortgage (https://www.terrysavage.com/ask-terry/extra-principal-payments-onmortgage) Answered on November 2, 2015 Terry, we have less than five years of payments left on our mortgage and we will be retiring in…

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Personal Financial Organizer (https://www.terrysavage.com/askterry/personal-financial-organizer) Answered on November 1, 2015 How do I find the personal financial organizer?

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“5 Kinds of Insurance YoumNeed” (https://www.terrysavage.com/askterry/5-kinds-of-insurance-youmneed) Answered on November 1, 2015 Do I still need disability insurance? I can afford it. I am a 61 yr. old dentist who hopes to work…

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October 2015 Questions & Answers By Terry Savage Medical bills (https://www.terrysavage.com/ask-terry/medical-bills) Answered on October 31, 2015

I recieve Social Security Disability,.I applied for Medicaid from the State of Illinois and I was…

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savings bonds for grandchildren? (https://www.terrysavage.com/askterry/savings-bonds-for-grandchildren) Answered on October 31, 2015 Instead of cash gifts for our grandchildren, we are considering savings bonds, in order to encourage…

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Latest from Chase credit card — new rates, and more! (https://www.terrysavage.com/ask-terry/latest-from-chase-credit-cardnew-rates-and-more) Answered on October 31, 2015 Would you be interested in seeing a copy of the latest missive from my Chase/Amazon Rewards credit…

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Heloc (https://www.terrysavage.com/ask-terry/heloc-2) Answered on October 31, 2015

I have $30,000 HELOC I have no other debt I make $90,000 a year I am 55 years old I have $70,000 in…

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Getting my Credit score (https://www.terrysavage.com/askterry/getting-my-credit-score) Answered on October 27, 2015 Where is the best place to get free credit scores for the 3 services that do credit scores?

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credit card bills (https://www.terrysavage.com/ask-terry/credit-cardbills) Answered on October 27, 2015 Hi Terry–Right now, my husband & I have between $40-45,000 in credit card bills. Between us, we…

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financial advisor is in ohio (https://www.terrysavage.com/askterry/financial-advisor-is-in-ohio) Answered on October 27, 2015 We moved to Chgo area in 2012–still have our Ohio advisor–wouldn’t it better to have an advisor…

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where to put short term savings (https://www.terrysavage.com/askterry/where-to-put-short-term-savings) Answered on October 26, 2015 With savings accounts not earning much interest, I’d like to get your opinion on what is best to do…

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credit card debt (https://www.terrysavage.com/ask-terry/credit-carddebt-3) Answered on October 26, 2015 Hi Terry, Is it advisable to take money from our savings to pay off credit card debt? Thanks!

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Where to move 401k due to job loss (https://www.terrysavage.com/ask-terry/where-to-move-401k-due-tojob-loss) Answered on October 26, 2015 We have looked into 1. a CFP who has a small hand-picked client base, affiliated with Schwab, makes…

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Cost basis for inherited shares (https://www.terrysavage.com/askterry/cost-basis-for-inherited-shares) Answered on October 25, 2015 A recent article in the Sun Sentinel says inherited shares of stock have a new cost basis at date of…

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Savings bonds — wait to cash them in? (https://www.terrysavage.com/ask-terry/savings-bonds-wait-to-cashthem-in) Answered on October 25, 2015 I have 26 EE savings bonds that will not fully mature until 2017 thru 2030. Is it best to hold on to…

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selling a time share (https://www.terrysavage.com/ask-terry/selling-atime-share) Answered on October 25, 2015 Please advise me regarding the best procedure on selling a Time Share. Thank you.

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Repay student loans from Bright Start 529 plan? (https://www.terrysavage.com/ask-terry/can-i-repay-my-sons-studentloans-from-bright-start-529-plan) Answered on October 24, 2015 My son quit college and is now going into the military. I want to use his bright start money to help…

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Medicare or State HMO Insurance? (https://www.terrysavage.com/askterry/medicare-or-state-hmo-insurance) Answered on October 24, 2015 After working 20& yrs for State of Illinois, I am forced to retire at age 74. I have applied for…

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Credit already a mess, should I file for bankruptcy? (https://www.terrysavage.com/ask-terry/credit-already-a-mess-should-ifile-for-bankruptcy) Answered on October 24, 2015 My husband and I both have poor credit scores on the upper 500s. we have about 4 charge offs, three…

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Balance Transfer vs. Consolidation (https://www.terrysavage.com/askterry/balance-transfer-vs-consolidation) Answered on October 24, 2015 I have balances on multiple cards that I’m making a little more than the minimum payment on. Which…

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FHA removal notification (https://www.terrysavage.com/ask-terry/fharemoval-notification) Answered on October 24, 2015 I just received a letter advising that I could remove the FHA mortgage insurance. The letter says my…

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extra money to save (https://www.terrysavage.com/ask-terry/extramoney-to-save) Answered on October 23, 2015 Iam 68 retired work part time. Have 1000 month extra were should i invest in . thanks Mike…

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Pmi (https://www.terrysavage.com/ask-terry/pmi) Answered on October 22, 2015 I still have pmi insurance on my mortgage however since I purchased my home as a foreclosure and the…

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When to sell a bond (https://www.terrysavage.com/ask-terry/when-tosell-a-bond) Answered on October 21, 2015 Gave my money to a financial investor to invest in some bonds. Approx 3 years ago. One of the bonds…

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Cancelling Credit Cards (https://www.terrysavage.com/askterry/cancelling-credit-cards) Answered on October 21, 2015 Greetings Terry, I would like to cancel a few of my credit cards – I do not use a few of them – the…

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Best investment choices for kids inheriting money from Grandfather (https://www.terrysavage.com/ask-terry/best-investment-choices-forkids-inheriting-money-from-grandfather) Answered on October 21, 2015 My father left his four grandkids (21, 14, 8 and a special needs child, and 2mths) $1000 each upon…

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Best Investment For Grandchildren (https://www.terrysavage.com/askterry/best-investment-for-grandchildren) Answered on October 21, 2015 What is the best investment for my grandchildren?Iwant to get something started while they are young…

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Retirement (https://www.terrysavage.com/ask-terry/retirement-5) Answered on October 20, 2015

After two failed marriages I’m forced to start from scratch 0 dollars left, earlier this year I…

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Where to put savings acct money (https://www.terrysavage.com/askterry/where-to-put-savings-acct-money) Answered on October 20, 2015 Hi I’m 59 years old wife is 52 we have a saving of 75000 in a money market our home is paid and we…

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inheritance (https://www.terrysavage.com/ask-terry/inheritance) Answered on October 20, 2015

I have inherited an investment account. I am not at all familiar with these types of accounts. I am…

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long term care insurance (https://www.terrysavage.com/ask-terry/longterm-care-insurance-8) Answered on October 19, 2015 We are both 63 years old, retired teachers, and are considering long term care insurance issued…

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Stock market returns? (https://www.terrysavage.com/ask-terry/stockmarket-returns) Answered on October 18, 2015 I appreciate what you do but find it alarming that you consistently rattle off the “10% stock market…

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coin collections, need dealer name (https://www.terrysavage.com/askterry/coin-collections-need-dealer-name) Answered on October 18, 2015 i saw in the past that you recommended a company in Chicago to evaluate coin collections, what was…

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Kudos Terry ” 5 things to know about mortgage documents” (https://www.terrysavage.com/ask-terry/kudos-terry-5-things-to-knowabout-mortgage-documents) Answered on October 18, 2015 You start out the article stating “Your home is likely the most expensive purchase you will ever…

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Investment (https://www.terrysavage.com/ask-terry/investment-2) Answered on October 18, 2015

My wife and I have some money to invest and don’t know where to start.Is Edward Jones a good choice?

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Schedule D (Form 1040), Line 21 ( regarding the amt. of capital loss deductible from other income) (https://www.terrysavage.com/askterry/schedule-d-form-1040-line-21-regarding-the-amt-of-capital-lossdeductible-from-other-income) Answered on October 18, 2015 In response to another inquirer’s question, you recently asserted that a married couple who co-own…

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More income, low risk? (https://www.terrysavage.com/ask-terry/moreincome-low-risk) Answered on October 16, 2015 Hi Terry, I am a 72 year old retiree with no debt. I have $200,000 in savings and would like to…

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College plan or saving plan for grandkids (https://www.terrysavage.com/ask-terry/college-plan-or-saving-plan-forgrandkids) Answered on October 16, 2015 What is the best plan for young grandkids?? Thant grandparents could afford…Thanks, Joan…

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Financial planner (https://www.terrysavage.com/ask-terry/financialplanner) Answered on October 16, 2015 Terry my husband and I are retired and we are now considering hiring a financial planner. We have…

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Auto insurance and umbrella liability (https://www.terrysavage.com/ask-terry/auto-insurance-and-umbrellaliability) Answered on October 16, 2015 What is adequate coverage for car insurance and when does the line get crossed for over- coverage?

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Mortgage payoff? (https://www.terrysavage.com/ask-terry/mortgagepayoff) Answered on October 16, 2015 Hello, Terry. First, I ALWAYS enjoy your segments on WGN. Thank you for volunteering your advice. I…

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payoff mortgage at age 69, using IRA money? (https://www.terrysavage.com/ask-terry/payoff-mortgage-at-age-69using-ira-money) Answered on October 11, 2015 I have several IRA’s should I payoff my mortgage? I am 69 years old I owe $60,167 with a payment of…

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Property Tax Lawyers for homeowner in Cook County. (https://www.terrysavage.com/ask-terry/property-tax-lawyers-forhomeowner-in-cook-county) Answered on October 11, 2015 Missed the deadline to appeal for my assessment tax appeal but have been receiving all kinds of mail…

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Capital gains taxes (https://www.terrysavage.com/ask-terry/capitalgains-taxes) Answered on October 11, 2015 Your article in the Denver Post 10/11/15 says in noting 4. “This loss is limited to$3,000 per year…

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Savings — How much is enough? (https://www.terrysavage.com/askterry/savings-how-much-is-enough) Answered on October 9, 2015 I saw you in the WGN news today and you suggested that young adults in there 20’s should save $40 a…

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Converting Traditional IRA to Roth IRA after early retirement (https://www.terrysavage.com/ask-terry/converting-traditional-ira-toroth-ira-after-early-retirement) Answered on October 8, 2015 Terry, I’m 59, retired, with over $1.2 million in a traditional IRA. I’m interested in the pros/cons…

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Investment strategy for retiree (https://www.terrysavage.com/askterry/investment-strategy-for-retiree) Answered on October 7, 2015 We have 60,000 which we would like to invest. We are 73 which necessarily means a conservative…

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HELOC (https://www.terrysavage.com/ask-terry/heloc) Answered on October 7, 2015

Hello, My husband is 57 and I am 56. As you know, at age 59 1/2 we can withdraw from our 401K and…

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Foreign Currency when traveling (https://www.terrysavage.com/askterry/foreign-currency-when-traveling) Answered on October 7, 2015 Hi Terry – I’m listening to you currently on WGN with Steve and I just wanted to make a comment. My…

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401k — new record keeper, losing money! (https://www.terrysavage.com/ask-terry/401k-new-record-keeperlosing-money) Answered on October 6, 2015 I am retiring this year. what to do with 401 my company changed record keepers and I’m no longer in…

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Retirement Investing (https://www.terrysavage.com/askterry/retirement-investing) Answered on October 6, 2015 Terry– i am 68, married,no debt, Soc. Sec and military pension coming in. Kids educated and gone,…

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Universal Life Plan (https://www.terrysavage.com/ask-terry/universallife-plan) Answered on October 6, 2015 Hi Terry. I have a Roth Ira and a Universal Life Plan through American Family Insurance. The premium…

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Roth IRA versus deferred comp (https://www.terrysavage.com/askterry/roth-ira-versus-deferred-comp) Answered on October 6, 2015 Hi Terry I will have all my debt except for my mortgage paid off in one year at that time I plan on…

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Special Assessment on Rental Condo (https://www.terrysavage.com/ask-terry/special-assessment-on-rentalcondo) Answered on October 6, 2015 Hi Terry- I have a condo that I rent out in Florida and there was a $10K special assessment passed…

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Left Advisor, Need help with asset allocation and types of assets (https://www.terrysavage.com/ask-terry/left-advisor-need-help-withasset-allocation-and-types-of-assets) Answered on October 5, 2015 Hello Terry, I’m a 48 year old female and just let go of my 1% per year advisor after not feeling…

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Pay raises into 40l(k) (https://www.terrysavage.com/ask-terry/payraises-into-40lk) Answered on October 5, 2015 Hello Terry ; My question is, I am 58. My employer is going to give us a fat raise soon. They also…

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Downsized, lost pension, now what? (https://www.terrysavage.com/ask-terry/downsized-lost-pension-nowwhat) Answered on October 4, 2015 My department at work downsized so I was let go,I had invested in 401k matching thru employer what…

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Retirement funds — should I move? (https://www.terrysavage.com/ask-terry/retirement-funds-should-imove) Answered on October 4, 2015 Terry, I am considering moving approx. 80K to a new American Fund NBARX. I have approx, 165K total…

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Elderly Father’s Retirement Money Hit By Stock Market Losses (https://www.terrysavage.com/ask-terry/elderly-fathers-retirementmoney-hit-by-stock-market-losses) Answered on October 4, 2015 Terry, My 81-year-old father is a dementia patient who needs 24-hour care. I have power of attorney,…

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investing for retirement beyond an IRA (https://www.terrysavage.com/ask-terry/investing-for-retirementbeyond-an-ira) Answered on October 4, 2015 Hi, I have a Roth IRA that I contribute the maximum to each year but at my work I do not have a…

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investing in your 20s to get millions? (https://www.terrysavage.com/ask-terry/investing-in-your-20s-to-getmillions) Answered on October 4, 2015 Terry, you wee on WGN morning news yesterday and said to go to your website to get information on…

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Debt Consolidation (https://www.terrysavage.com/ask-terry/debtconsolidation) Answered on October 4, 2015 Hi Terry, I have about $33,000 in credit card debt. I work in sales and usually make pretty good…

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September 2015 Questions & Answers By Terry Savage Investing for my 23 year old daughter (https://www.terrysavage.com/ask-terry/investing-for-my-23-year-olddaughter) Answered on September 29, 2015 I would like to start building a nest egg for my 23 yr. old daughter to continue with. Where should…

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What’s your opinion on the Citi Double Cash Credit Card? (https://www.terrysavage.com/ask-terry/whats-your-opinion-on-the-citidouble-cash-credit-card) Answered on September 28, 2015 Hello Terry, I’m considering the Citibank Double Cash Credit Card. I always pay the monthly balance…

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China currency value (https://www.terrysavage.com/ask-terry/chinacurrency-value) Answered on September 27, 2015 Didn’t the euro change value on the Forex . . . . While china stays safe with it’s pegged value?

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Refinancing (https://www.terrysavage.com/ask-terry/refinancing-3) Answered on September 27, 2015

Terry, I have approx $75,000 Remaining on my mortgage at 5.5 per cent; however I also have about…

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IRA (https://www.terrysavage.com/ask-terry/ira-3) Answered on September 27, 2015

Terry, I am hoping you can provide some guidance. I am 61 years old with a Fidelity IRA I am looking…

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5 things to know about refinancing student loans (https://www.terrysavage.com/ask-terry/5-things-to-know-aboutrefinancing-student-loans) Answered on September 27, 2015 My granddaughter has recently been hired by Pawtucket school system as a physical & health…

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Mortgage loans after short sale (https://www.terrysavage.com/askterry/mortgage-loans-after-short-sale) Answered on September 27, 2015 we have bad credit because of a bankruptcy 6 years ago. We also have to do a short sale on our…

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Gold in portfolio (https://www.terrysavage.com/ask-terry/gold-inportfolio) Answered on September 27, 2015 Do you suggest including gold in a portfolio, & what percentage? Do you recommend a specific…

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loan to pay off credit (and make home improvement) (https://www.terrysavage.com/ask-terry/loan-to-pay-off-credit-andmake-home-improvement) Answered on September 27, 2015 Hi Terry, Are the loan companies (like best egg or my prosper) a good way to consolidate and pay off…

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Finding a Medicare Part D Prescription Drug Plan (https://www.terrysavage.com/ask-terry/finding-a-medicare-part-dprescription-drug-plan) Answered on September 27, 2015 Hi Terry, A couple of years back, you published the URL of a website that helps consumers find the…

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Retirement Investments (https://www.terrysavage.com/askterry/retirement-investments-3) Answered on September 27, 2015 Hi, Terry. I’m retired and have a pension and some investments. One of them is a $10,000 Treasury…

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Sell my townhome? (https://www.terrysavage.com/ask-terry/sell-mytownhome) Answered on September 27, 2015 I am single and 10-15 years from retirement. My townhome will be paid off next month. Should I sell…

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International stocks – transfer or keep overseas? (https://www.terrysavage.com/ask-terry/international-stocks-transferor-keep-overseas) Answered on September 26, 2015 Hello Terry, My elderly mother has shares in a brewery overseas. There is very little earned in the…

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spouse’s credit card at death (https://www.terrysavage.com/askterry/spouses-credit-card-at-death) Answered on September 26, 2015 Am I responsible for me deceased spouse’s credit card debt?

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Interest rates (https://www.terrysavage.com/ask-terry/interest-rates-2) Answered on September 26, 2015

My wife and I are 75 & 73. We have $150,00 in savings a .75. Based on Secretary Yellin’s…

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retirement planning — and the cost of advice (https://www.terrysavage.com/ask-terry/retirement-planning-and-thecost-of-advice) Answered on September 26, 2015 Hi Terry I’m a 73 year old in good health and have 250,000 portfolio I am paying 1 percent to a…

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Mortgage — adjustable rate (https://www.terrysavage.com/askterry/mortgage-adjustable-rate) Answered on September 26, 2015 My ARM is at 3.50% and is due May 2020. I plan on selling my house by then . Should I save as much…

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reverse mortgage on death of a spouse (https://www.terrysavage.com/ask-terry/reverse-mortgage-on-death-ofa-spouse) Answered on September 26, 2015 we have a reverse mortgage…I am 65 plus…wife is under 65, If I pass does she get to keep the…

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College Loans co-signed (https://www.terrysavage.com/askterry/college-loans-co-signed) Answered on September 22, 2015 Terry, Could you recommend what type of attorney I could consult with regarding college loans? I am…

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open a debit/credit card for teenage daughter (https://www.terrysavage.com/ask-terry/open-a-debitcredit-card-forteenage-daughter) Answered on September 22, 2015 Hi Terry, My daughter will be 15 in December and is a freshman in high school. When should I get her…

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5 financial tasks… (https://www.terrysavage.com/ask-terry/5-financialtasks) Answered on September 21, 2015 “you mention paying to “freeze” one’s credit, how specifically is that done? Thanks…

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assess your retirement plan asset allocation (https://www.terrysavage.com/ask-terry/assess-your-retirement-planasset-allocation) Answered on September 21, 2015 in your article “5 financial tasks to take care of in fall” you provided your web site and suggested…

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Your article “5 things to know about China’s finances” (https://www.terrysavage.com/ask-terry/your-article-5-things-to-knowabout-chinas-finances) Answered on September 21, 2015 Thank you for the above-mentioned article. Your summary of the facts was refreshing to read. I think…

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90 year old Mother in law is moving in! (https://www.terrysavage.com/ask-terry/90-year-old-mother-in-law-ismoving-in) Answered on September 21, 2015 My 90 year old Mother in Law has moved in with us 6 month ago. Next week we will close on her condo…

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Retirement investments (https://www.terrysavage.com/askterry/retirement-investments-2) Answered on September 13, 2015 Was forced to retired in 2012 at the age of 57..IMRF was taken at highest value until I turn 62 in…

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Long term health care policy. (https://www.terrysavage.com/askterry/long-term-health-care-policy) Answered on September 13, 2015 Best type of policy for female age 67. Does not smoke or drink. Recommendation of company would also…

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First Credit Card for young adults (https://www.terrysavage.com/askterry/first-credit-card-for-young-adults) Answered on September 12, 2015 My daughter is 18 and in her first year of college. I heard it would be a good idea for her to…

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When to Transfer a 401k (https://www.terrysavage.com/askterry/when-to-transfer-a-401k) Answered on September 11, 2015 I need a little advice. I lost my job in Mid-August and have a 401k that I need to rollover. I have…

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Long term care ins — we haven’t had an increase in premiums! (https://www.terrysavage.com/ask-terry/long-term-care-ins-we-haventhad-an-increase-in-premiums) Answered on September 11, 2015 My wife and I bought LTC through USAA in the early 90’s when I was 60 and she was 56. We bought the…

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Roth accounts (https://www.terrysavage.com/ask-terry/roth-accounts) Answered on September 10, 2015

1. Can I still contribute to my Roth account although I am recently retired and will have to take…

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long term care column (https://www.terrysavage.com/ask-terry/longterm-care-column) Answered on September 10, 2015 Hi Terry! My wife and I are 58 and are concerned about long term care. I heard you discuss these LTC…

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Retiring, but need more income to help family members. (https://www.terrysavage.com/ask-terry/retiring-but-need-more-incometo-help-family-members) Answered on September 10, 2015 I have known you for quite a while via newspapers, radio and television so much so I feel I know you…

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Social Security vs Social Security Disability (https://www.terrysavage.com/ask-terry/social-security-vs-socialsecurity-disability) Answered on September 10, 2015 My husband is 62 and is ill. He inquired about receiving Social Security Retirement Benefits and was…

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Long-Term Care — Have my benefits been reduced? (https://www.terrysavage.com/ask-terry/long-term-care-have-mybenefits-been-reduced) Answered on September 9, 2015 I bought a long-term care policy from MetLife over 20 years ago. I know they stopped selling new…

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Robo-Advisers (https://www.terrysavage.com/ask-terry/robo-advisers) Answered on September 8, 2015

Terry; perhaps you’ve already seen my post to your FaceBook page (if not, I’ve included it below),…

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Long Term Care — Genworth? (https://www.terrysavage.com/askterry/long-term-care-genworth) Answered on September 7, 2015 With Genworth trading at around $4 is there a high probability that current LTC policy holders will…

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Long term care insurance –Huge Increases in Premiums! (https://www.terrysavage.com/ask-terry/long-term-care-insurancehuge-increases-in-premiums) Answered on September 7, 2015 Ms. Savage, Your article in the Chgo Trib on Sunday discusses 5 things to know about long term care…

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Annuities (https://www.terrysavage.com/ask-terry/annuities-3) Answered on September 5, 2015

Hi Terry, I heard you last night on the Jim Bohannon show and appreciate your advice. I am 57 years…

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IRA — Too late to Start? (https://www.terrysavage.com/ask-terry/iratoo-late-to-start) Answered on September 4, 2015 Hi Terry, I’m 59…and I have 2 in college, and I have nothing in a retirement fund. Money is tight,…

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What to do with investment? (https://www.terrysavage.com/askterry/what-to-do-with-investment) Answered on September 4, 2015 Hi….just recently retired, collecting lump sum, new to this; and was wondering where to put this…

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401k issues (https://www.terrysavage.com/ask-terry/401k-issues) Answered on September 4, 2015

I am 58 years old 10 years away from retirement, with the volatility of the market, that some…

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Market Timing (https://www.terrysavage.com/ask-terry/market-timing) Answered on September 4, 2015

Hello Terry, It’s a pleasure to be able to ask you a question. I admire your expertise. We all know…

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currency markets (https://www.terrysavage.com/ask-terry/currencymarkets) Answered on September 3, 2015 Porter financial contacted me about their currency market trading and how easy its to make money??

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Retirement Investing — The sleeping point? (https://www.terrysavage.com/ask-terry/retirement-investing-thesleeping-point) Answered on September 2, 2015 Last week on WGN you said that ‘seniors might want to enter sleeper mode during this market period,’…

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Copy of “5 financial basics for new graduates” that was in the sunsentinel paper (https://www.terrysavage.com/ask-terry/copy-of-5financial-basics-for-new-graduates-that-was-in-the-sun-sentinel-paper) Answered on September 2, 2015

I would like a copy of your column that you wrote “5 financial basics for new graduates.” The column…

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Aged 50 and no retirement savings, help what next? (https://www.terrysavage.com/ask-terry/aged-50-and-no-retirementsavings-help-what-next) Answered on September 2, 2015 What is the best route to go when savings for retirement at age 50, life has gotten in way, I want…

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Lump Sum Buyouts. (https://www.terrysavage.com/ask-terry/lumpsum-buyouts) Answered on September 2, 2015 Several months ago Alcatel-Lucent introduced the Alcatel-Lucent Retiree Lump Sum Window Program to…

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August 2015 Questions & Answers By Terry Savage Fixed Index funds (https://www.terrysavage.com/ask-terry/fixed-indexfunds) Answered on August 27, 2015 Heading into Retirement this year and want to change investment strategy to create ” safe money”…

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my pending retirement (https://www.terrysavage.com/ask-terry/mypending-retirement) Answered on August 25, 2015 Terry, I am retiring effective 10/01/2015 and obviously concerned by the market conditions now. I…

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Stock Market Drop (https://www.terrysavage.com/ask-terry/stockmarket-drop) Answered on August 25, 2015 My husband and I have some money invested at this time. Because of the market these last few days,…

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Using 40l(k) to pay off credit card debt (https://www.terrysavage.com/ask-terry/using-40lk-to-pay-off-creditcard-debt) Answered on August 25, 2015 My husband and I have a credit card balance of $15,000, the balance owed on our home is $45,000 and…

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Lifetime income annities (https://www.terrysavage.com/askterry/lifetime-income-annities) Answered on August 25, 2015 Is there an easy way of getting out of these annuities.

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Where to start investing extra money (https://www.terrysavage.com/ask-terry/where-to-start-investing-extramoney) Answered on August 25, 2015 Hi Terry, listen to you on WGN and always very interesting. I am 42 and have a good retirement plan…

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What to do with penson disbursement (https://www.terrysavage.com/ask-terry/what-to-do-with-pensondisbursement) Answered on August 24, 2015 I’ve worked at my company for 29years.We had a defined pension plan which was frozen in 2009 due to…

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Money and my elderly father (https://www.terrysavage.com/askterry/money-and-my-elderly-father) Answered on August 23, 2015 Terry, I’m a retired teacher in my mid-60s living on my pension and savings. I’m not eligible for…

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Retirement (https://www.terrysavage.com/ask-terry/retirement-4) Answered on August 23, 2015

I am 51 years old. I have about $8,000 in savings. I have a pension that when I turn 62 or 65 I can…

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I am a senior selling my condo… (https://www.terrysavage.com/askterry/i-am-a-senior-selling-my-condo) Answered on August 23, 2015 I am a healthy 78 yo female. Have lived in an “adequate” third floor walkup condo for 22 years. We…

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Helping kids out with down payment on first house. (https://www.terrysavage.com/ask-terry/helping-kids-out-with-downpayment-on-first-house) Answered on August 22, 2015 We would like to lend out kids $20,000.00 as a down payment on their first home so that they can get…

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Inherited Insurance Policy Tied to a Stock Portfolio (https://www.terrysavage.com/ask-terry/inherited-insurance-policy-tiedto-a-stock-portfolio) Answered on August 21, 2015 I have a small inheritance in a Teachers brokerage tied to a stock portfolio. I wanted to sell it…

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This Market (https://www.terrysavage.com/ask-terry/this-market) Answered on August 21, 2015

Hi Terry; In light of whats been happening in the markets, where would you suggest to have your…

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401k — What to do now? (https://www.terrysavage.com/askterry/401k-what-to-do-now) Answered on August 21, 2015 Dear: Terry. I will retire in 9 months. What should I do with my 401k at this moment. I am…

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Choosing a 403b Roth or 403b Traditional (https://www.terrysavage.com/ask-terry/choosing-a-403b-roth-or-403btraditional) Answered on August 21, 2015 What would you recommend choosing for a married 28 year old. Setting up a retirement account using…

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Rolling over 401K into IRA while still employed. (https://www.terrysavage.com/ask-terry/rolling-over-401k-into-ira-whilestill-employed) Answered on August 21, 2015 I am approx 1 – 2 years from retirement with a current balance of $166,000 in a 401K. I want to roll…

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Refinancing (https://www.terrysavage.com/ask-terry/refinancing-2) Answered on August 20, 2015

Terry, my wife and I have a mortgage at 8% and we’ve tried to refinance. We were wondering if you…

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Lower Mortgage Payment (https://www.terrysavage.com/askterry/lower-mortgage-payment) Answered on August 19, 2015 Terry, I closed on my new home in 8/2008 and refinanced in 7/2010 to lower my interest rate from 6%…

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Mom cuts me out of her will (https://www.terrysavage.com/askterry/mom-cuts-me-out-of-her-will) Answered on August 17, 2015 Good Day Ms. Savage, my ? is that my mother has a living will as far as I know. I was asked to sign…

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mortgage modification – stop making payments to qualify for HARP? (https://www.terrysavage.com/ask-terry/mortgage-modification-stopmaking-payments-to-qualify-for-harp) Answered on August 16, 2015 I’m 69 in September. owned my house 31 years. Husband died 2008, daughter 2013 leaving me 11 year…

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Mom’s IRA distributions at death (https://www.terrysavage.com/askterry/moms-ira-distributions-at-death) Answered on August 16, 2015 My mother passed this spring and left me and my children a small Ira approx 3000. My question is are…

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U. S. Government Thrift Savings Plan (TSP) (https://www.terrysavage.com/ask-terry/u-s-government-thrift-savingsplan-tsp) Answered on August 15, 2015 I am a retired federal employee with no social security earnings went right into the Marines after…

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Shift SEP ira to safety — out of stocks? (https://www.terrysavage.com/ask-terry/shift-sep-ira-to-safety-out-ofstocks) Answered on August 15, 2015 Hi Terry, My husband is 59 and I am 58. We own our home outright and have no debt. Since we are…

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Can I “borrow” from my IRA? (https://www.terrysavage.com/askterry/can-i-borrow-from-my-ira) Answered on August 15, 2015 If I take out money from my IRA and later return it, Do I have to pay taxes on it. I am well over…

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Use the money for a down payment? (https://www.terrysavage.com/ask-terry/use-the-money-for-a-downpayment) Answered on August 15, 2015 I had a little over four thousand sitting Charles Schwab account earning 00.1percent so I decided to…

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refinancing student loans (https://www.terrysavage.com/askterry/refinancing-student-loans) Answered on August 15, 2015 Article in Hartford Courant June 21,2015 re refinancing student loans…Is there an expiration date?

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Investment — Betterment? (https://www.terrysavage.com/askterry/investment-betterment) Answered on August 15, 2015 Hi Terry, Have you heard of Betterment? What do you think of it being a good investment for young…

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Changing Name on Savings Bonds After Divorce (https://www.terrysavage.com/ask-terry/changing-name-on-savingsbonds-after-divorce) Answered on August 14, 2015 I need to change the name and beneficiary on my savings bonds, which were given to me as part of my…

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Can I buy gold coins directly from the U.S. government? Canadian? (https://www.terrysavage.com/ask-terry/can-i-buy-gold-coins-directlyfrom-the-u-s-government-canadian) Answered on August 13, 2015 Can I buy gold coins directly from the U.S. government? Canadian?

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Money with one Financial Firm (https://www.terrysavage.com/askterry/money-with-one-financial-firm) Answered on August 13, 2015 Do you think it is wise to have all your money with one financial firm? The financial advisor at one…

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credit card bills — loan from a friend? (https://www.terrysavage.com/ask-terry/credit-card-bills-loan-from-afriend) Answered on August 13, 2015 Hi Terry–My husband & I have about $50,000 in credit card bills. Our monthly income is around…

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Take from IRA for partial payment of home equity loan (https://www.terrysavage.com/ask-terry/tak-from-ira-for-partialpayment-of-home-equity-loan) Answered on August 13, 2015 I owe 30,000 for a home equity loan. I am thinking of taking 10,000 from my IRA (since I’m 60 there…

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Repairing Credit (https://www.terrysavage.com/ask-terry/repairingcredit) Answered on August 13, 2015 I need to fix my credit due to past issues (dismissed bankruptcy, car repo, late payments). Is there…

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college funding (https://www.terrysavage.com/ask-terry/collegefunding) Answered on August 11, 2015 I enjoy listening to you on WGN. My children are an incoming college freshman and high school…

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Protecting Assets from Long Term Care Costs (https://www.terrysavage.com/ask-terry/protecting-assets-from-longterm-care-costs) Answered on August 11, 2015 Would like to avoid nursing home in future and them becoming my sole beneficiary. Is Long Term Care…

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Pension lump sum buyout (https://www.terrysavage.com/askterry/pension-lump-sum-buyout) Answered on August 11, 2015 Hello Terry, Former employee, ATT/Lucent/Alcatel-Lucent is offering a lump sum buyout of our…

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Burial Insurance (https://www.terrysavage.com/ask-terry/burialinsurance) Answered on August 10, 2015 Should I prepay for funeral costs or buy insurance specific for those costs.

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dividends (https://www.terrysavage.com/ask-terry/dividends) Answered on August 10, 2015

What is the website that you suggested this morning on WGN-TV for finding stocks that pay high…

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credit card balances (https://www.terrysavage.com/ask-terry/creditcard-balances) Answered on August 10, 2015 Where can I find a trusted financial institution sanctioned by the government in order to…

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Student loan – can’t pay full amount (https://www.terrysavage.com/ask-terry/student-loan-cant-pay-fullamount) Answered on August 9, 2015 Thank you Terry for your response to my student loan question. My loans are through Nelnet and I…

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Co-signing on daughter’s mortgage (https://www.terrysavage.com/askterry/co-signing-on-daughters-mortgage) Answered on August 9, 2015 My 67 year old fiancee has a 23 year old daughter who just graduated from college. She has only…

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purchase of gold as investment (https://www.terrysavage.com/askterry/purchase-of-gold-as-investment) Answered on August 9, 2015 Please let me know if Gold is a viable investment. I have heard that it’s more stable than stocks or…

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Ron Paul and the Economic collaspe (https://www.terrysavage.com/ask-terry/ron-paul-and-the-economiccollaspe) Answered on August 6, 2015 Is Ron Paul’s warning something I should be worried about? Most of my savings is in 403b and various…

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annuities (https://www.terrysavage.com/ask-terry/annuities-2) Answered on August 4, 2015

I have 1/3 of my wealth in no load growth funds,1/3 in realestate rental properties,and in1/3 CD’s.

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Sold condo for a loss, now stuck at parents house (https://www.terrysavage.com/ask-terry/sold-condo-for-a-loss-nowstuck-at-parents-house) Answered on August 3, 2015 Hi Terry, I have seen you a couple times on the WGN news and this morning, 7-29-15, you spoke of the…

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Closing Out Credit Cards (https://www.terrysavage.com/askterry/closing-out-credit-cards) Answered on August 3, 2015 Hi Terry! What is worse when it comes to credit cards. … 1. Leaving them open with a 0 balance or…

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social security (https://www.terrysavage.com/ask-terry/social-security2) Answered on August 3, 2015 my mother was collecting her own ss until my dad died, then went to ss to get widows benifits. it…

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Organizer Form you mentioned at your Arlington Heights presentation (https://www.terrysavage.com/ask-terry/organizer-form-you-mentionedat-your-arlington-heights-presentation) Answered on August 3, 2015 Hi Terry, When you spoke in Arlington Heights, you mentioned a form for a husband and wife to…

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Refinancing an interest only mortgage (https://www.terrysavage.com/ask-terry/refinancing-an-interest-onlymortgage) Answered on August 3, 2015 What is your advice in finding out the best avenue for refinancing an Interest only mortgage? (Yes…

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Medicare & government pension do I need both? (https://www.terrysavage.com/ask-terry/medicare-government-pensiondo-i-need-both) Answered on August 2, 2015 My wife & I attended your speech in Arlington Heights Tuesday 7/28/2015 & we really enjoyed…

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Student Loan (https://www.terrysavage.com/ask-terry/student-loan-2) Answered on August 2, 2015

Good morning Terry , I am in the process of repaying my loans. The loan company that I am with has…

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Oil Prices (https://www.terrysavage.com/ask-terry/oil-prices) Answered on August 2, 2015

What is the reason a barrel of oil has hovered around $50 for the last year? In the past, OPEC,…

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MORGAGE RATE (https://www.terrysavage.com/ask-terry/morgagerate) Answered on August 1, 2015 HELLO I AM NEW HOME OWNER FOR A YEAR NOW AND MY ENTREST RATE WAS 3.75 WAS THAT A GOOD RATE AND I AM…

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UTMA Account and College (https://www.terrysavage.com/askterry/utma-account-and-college) Answered on August 1, 2015 Terry: In 1995, in the days before 529 plans were created, we established a college savings plan for…

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Reverse Mortgage and Surviving Heirs (https://www.terrysavage.com/ask-terry/reverse-mortgage-andsurviving-heirs) Answered on August 1, 2015 Reverse Mortgage and Surviving Heirs I am 54 and my mom is 92. We purchased a home and my sibblings…

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Penny Stocks (https://www.terrysavage.com/ask-terry/penny-stocks) Answered on August 1, 2015

What are Penny Stocks and are they something to invest in or not?

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several bonds to change beneficiary due to divorce (https://www.terrysavage.com/ask-terry/several-bonds-to-changebeneficiary-due-to-divorce) Answered on August 1, 2015 Is there a form to list more than 3 bonds to change as I have appox. 20 to change.

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Vanguard Index Funds (https://www.terrysavage.com/askterry/vanguard-index-funds) Answered on August 1, 2015 I have $60K to invest and was told about the Vanguard Index Funds. I am 55 years old and plan on not…

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July 2015 Questions & Answers By Terry Savage Dad’s Reverse Mortgage (https://www.terrysavage.com/ask-terry/dadsreverse-mortgage) Answered on July 30, 2015 My dad had did reverse mortgage. He is now deceased and left me a Land Trust. My question to you I…

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529 Plans (https://www.terrysavage.com/ask-terry/529-plans-2) Answered on July 30, 2015

If the child decides down the road not to attend college but pursue another avenue, what happens to…

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401k loan (https://www.terrysavage.com/ask-terry/401k-loan) Answered on July 30, 2015

I have a 401k that I have invested 6%in for over 40 years with fidelity. I have over 300k in it. I…

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Finding a Financial Planner (https://www.terrysavage.com/askterry/finding-a-financial-planner) Answered on July 29, 2015 Do you have (or do you have a source for) a list of questions to ask when looking for a financial…

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Larry Edelson economic projections. (https://www.terrysavage.com/ask-terry/larry-edelson-economicprojections) Answered on July 29, 2015 I want to know if Larry Edelson has a leg to stand on with his prediction that the economy will tank…

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reverse mortgage (https://www.terrysavage.com/ask-terry/reversemortgage) Answered on July 29, 2015 I’ve seen commercials for reverse mortgages and I’ve called a few but some don’t want to finance a…

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Loan Modification (https://www.terrysavage.com/ask-terry/loanmodification) Answered on July 29, 2015 Hello Ms. Savage, Even though I’m using a lawyer for my loan modification, I’m very curious of what…

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Insurance vs Self pay (https://www.terrysavage.com/askterry/insurance-vs-self-pay) Answered on July 29, 2015 Terry; My question is why are the insurance co. prices higher than self pay? I am a very healthy…

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Where to invest my money at age 70+ (https://www.terrysavage.com/ask-terry/where-to-invest-my-money-atage-70) Answered on July 29, 2015 I’m in the process of selling some property and I was interested in the best place to place my…

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Utility Stock and a 529 Plan (https://www.terrysavage.com/askterry/utility-stock-and-a-529-plan) Answered on July 26, 2015 Terry, My fiance’s son will start college this fall as a freshman, out of state. His grandfather has…

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Annuity withdrawal (https://www.terrysavage.com/ask-terry/annuitywithdrawal) Answered on July 25, 2015 .At 81 years of age, My annuity investment of $35,000 ADDS UP TO $77000. after any years. I would…

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Refinancing of ParentPlus loans (https://www.terrysavage.com/askterry/refinancing-of-parentplus-loans) Answered on July 25, 2015 Hello Ms. Savage, I read your recent Chicago Trib column on the refinancing of college loans,…

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Credit rating — bad or none? (https://www.terrysavage.com/askterry/credit-rating-bad-or-none) Answered on July 24, 2015 Can you give me an email address of a free and safe company that I can get a credit rating. I was…

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Illinois College Bonds (https://www.terrysavage.com/ask-terry/illinoiscollege-bonds) Answered on July 23, 2015 28 years ago, my husband and I began purchasing Illinois College Bonds. They were purchased at…

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How much to spend on home repairs? (https://www.terrysavage.com/ask-terry/how-much-to-spend-on-homerepairs) Answered on July 22, 2015 We just did a refi on our home & the Insurance company is asking us to do certain upgrades in…

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Pre-paid college tution (https://www.terrysavage.com/ask-terry/prepaid-college-tution) Answered on July 22, 2015 HI Terry, I caught the last half of your answer on WGN this morning regarding pre-paid college…

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post retirement investing (https://www.terrysavage.com/ask-terry/postretirement-investing) Answered on July 22, 2015 At the advice of a credit union financial advisor, I pulled my 403B money and turned it over to LPL.

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Student Loans: Using federal loans to pay off private loans (https://www.terrysavage.com/ask-terry/student-loans-using-federalloans-to-pay-off-private-loans) Answered on July 21, 2015 I am a recent graduate and I have secured a job as a teacher in a high need area. I was wondering if…

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Selling a house (https://www.terrysavage.com/ask-terry/selling-ahouse) Answered on July 21, 2015 Hi Terry, Could you please explain to me the options on where to reinvest money from a sale of a…

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saving for retirement (https://www.terrysavage.com/ask-terry/savingfor-retirement) Answered on July 21, 2015 I have 100,000.00 in a insurance savings for retirement until I reach 70 and 1/2, should I move it…

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tax responsibility for deceased family member (https://www.terrysavage.com/ask-terry/tax-responsibility-fordeceased-family-member) Answered on July 19, 2015 My mother passed away on feb. 20th 2015. After hours of waiting to speak to IRS person..I was told…

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FHA Loan and a Reverse Mortgage (https://www.terrysavage.com/askterry/fha-loan-and-a-reverse-mortgage) Answered on July 19, 2015 I am 79 and took on a FHA 3% loan with my two grandsons. The three of us are on the mortgage and we…

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Tax refund (https://www.terrysavage.com/ask-terry/tax-refund) Answered on July 19, 2015

my cpa sent my tax return in feb. and I received a letter saying they are reviewing the…

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Tax sheltered option (https://www.terrysavage.com/ask-terry/taxsheltered-option) Answered on July 19, 2015 Hi.. As I’m getting closer to retirement, I’m looking for tax sheltered options,. Which do you…

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Greece (https://www.terrysavage.com/ask-terry/greece) Answered on July 18, 2015

Your appearances on wgn improve the tone of the show. Your advice, particicularly about children and…

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credit cards (https://www.terrysavage.com/ask-terry/credit-cards-2) Answered on July 11, 2015

We have too many credit cards. We only use a few, the rest sit in a drawer. I worry about keeping…

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Investments in retirement (https://www.terrysavage.com/askterry/investments-in-retirement) Answered on July 10, 2015 I will be retiring soon and have investments. Do offer a service of personal advisers? If not can…

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Whole Life Insurance options (https://www.terrysavage.com/askterry/whole-life-insurance-options) Answered on July 10, 2015 Hello, I have both term life and whole life policies through Guardian (AIG). I purchased both when I…

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Best borrowing option (https://www.terrysavage.com/ask-terry/bestborrowing-option) Answered on July 9, 2015 I have inherited property that I would like to turn into a vacation rental home. It needs upgrading.

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Social Security & Retirement (https://www.terrysavage.com/askterry/social-security-retirement) Answered on July 8, 2015 Terry: Can you recommend the best book I can purchase to understand the area around Social Security…

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Paying off credit card debt (https://www.terrysavage.com/askterry/paying-off-credit-card-debt) Answered on July 8, 2015 I have credit card debt and have just inherited money. I plan to use some of it to pay down my debt…

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Traditional IRA’s vs. Roth IRA’s (https://www.terrysavage.com/askterry/traditional-iras-vs-roth-iras) Answered on July 8, 2015 Hi Terry, I have traditional and Roth IRA’s, and a few years away from retirement. Should I convert…

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Commercial mortgage bridge loans (https://www.terrysavage.com/askterry/commercial-mortgage-bridge-loans-3) Answered on July 8, 2015 I am a single, retired, fixed income investor and am wondering what you think about investing in…

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Newlyweds honeymooning in Greece in September (https://www.terrysavage.com/ask-terry/newlyweds-honeymooning-ingreece-in-september) Answered on July 4, 2015 What advice would you give to travelers to the Greek Isles in September? Taking lots of US cash…

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How to get started with a trust to protect my assets for my daughter? (https://www.terrysavage.com/ask-terry/how-to-get-started-with-a-trustto-protect-my-assets-for-my-daughter) Answered on July 1, 2015 Hi Terry, My daughter is almost finished with college, and we have started thinking about how to…

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June 2015 Questions & Answers By Terry Savage What benefits for same-sex couples after Supreme Court decision? (https://www.terrysavage.com/ask-terry/what-benefits-for-same-sexcouples-after-supreme-court-decision) Answered on June 30, 2015 With the Supreme Court’s decision today recognizing marriage equality, can recommend a good book…

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your new book regarding everything you should know before getting married, moving in together (https://www.terrysavage.com/askterry/your-new-book-regarding-everything-you-should-know-beforegetting-married-moving-in-together) Answered on June 30, 2015 What is the name of your new book about” Everything you should Know before getting married, moving…

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life insurance (https://www.terrysavage.com/ask-terry/life-insurance-3) Answered on June 30, 2015

Hi Terry, Read your 5/10/15 article in the Chicago Tribune “5 things to know about life insurance”.

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Power Index Annuity (https://www.terrysavage.com/ask-terry/powerindex-annuity) Answered on June 26, 2015 I am 68 years old and considering investing in a Power Index Annuity. Would like your thoughts and…

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student loan — 7 year rule?? (https://www.terrysavage.com/askterry/student-loan-7-year-rule) Answered on June 26, 2015 need help is there a seven year rule that you do not have to pay your student loan…

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Asset Location — tax-deferred or taxable? (https://www.terrysavage.com/ask-terry/asset-location-tax-deferred-ortaxable) Answered on June 25, 2015 Hi Terry, I was wondering if you could please answer an asset location question for tax efficiency…

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parent plus loans for students (https://www.terrysavage.com/askterry/parent-plus-loans-for-students) Answered on June 25, 2015 I read your column in the Chicago Tribune on sunday, june 21st on 5 things to know about refinancing…

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Can Parent Change PLUS loan to son’s name? (https://www.terrysavage.com/ask-terry/can-parent-change-plus-loanto-sons-name) Answered on June 23, 2015 My son is paying for the Parent Plus loan that we took out for him 10 years ago. He thought it would…

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refinancing student loan (https://www.terrysavage.com/askterry/refinancing-student-loan) Answered on June 23, 2015 Dear Ms.Savage, I read your column about refinancing student loans in the Sunday Providence Journal…

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Student loans (https://www.terrysavage.com/ask-terry/student-loans-3) Answered on June 23, 2015

I am a physician working at Lutheran General, in Park Ridge. My wife just finished her M.D.from…

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A Special Needs Trust — Did I make a Mistake? (https://www.terrysavage.com/ask-terry/a-special-needs-trust-did-imake-a-mistake) Answered on June 23, 2015 Dear Terry, I find your articles in my local newspaper to be the most well written and informative.

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Reverse Mortgage on a Condo? (https://www.terrysavage.com/askterry/reverse-mortgage-on-a-condo) Answered on June 23, 2015 Can we get a reverse mortgage on a condominium? It is the primary residence. Thanks…

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Credit problems may impact next job (https://www.terrysavage.com/ask-terry/credit-problems-may-impactnext-job) Answered on June 23, 2015 I made some bad career choices and lost a couple jobs and ended up in debt. Now I have over $10,000…

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retirement (https://www.terrysavage.com/ask-terry/retirement-3) Answered on June 23, 2015

Confused on how it all works. I know approx how much SS myself and my husband will receive .We both…

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5 financial basics for grads. Sunday Trib (https://www.terrysavage.com/ask-terry/5-financial-basics-for-gradssunday-trib) Answered on June 21, 2015 Would you please pass this advice on to our state politicians (Madigan).

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HELOC loan and retired (https://www.terrysavage.com/ask-terry/helocloan-and-retired) Answered on June 21, 2015 WHY DO YOU ALL ASSUME THAT A HELOC IS THE SECOND LOAN ON THE HOUSE. THE GOVERNMENT CONTINUES TO…

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Reverse Mortgage FHA? (https://www.terrysavage.com/askterry/reverse-mortgage-fha) Answered on June 21, 2015 Do all reverse ,mortgages have to be HUD or FHA approved…

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student loan interest (https://www.terrysavage.com/ask-terry/studentloan-interest) Answered on June 21, 2015 Circa 2001, if you refinanced a student loan, the interest could no longer be taken as an income tax…

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Estate Planning – (https://www.terrysavage.com/ask-terry/estateplanning) Answered on June 19, 2015 I’m 55+ and in the beginning stage of estate plan. What is the starting point. Do I need to contact…

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Confused feelings about whether to apply for better paying internal position (https://www.terrysavage.com/ask-terry/confused-feelingsabout-whether-to-apply-for-better-paying-internal-position) Answered on June 19, 2015

Hi, Since I have been in my current position a year I can officially apply for other internal…

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Life Insurance — lost policies my mom had (https://www.terrysavage.com/ask-terry/life-insurance-lost-policies-mymom-had) Answered on June 16, 2015 My mother passed away in 2011. Recently, I found a box of her papers that had been in my attic.

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457 RMD’s (https://www.terrysavage.com/ask-terry/457-rmds) Answered on June 16, 2015

Is it better to take a lump sum RMD or take a monthly check? I will be 70 years old in October and…

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Mandatory withdrawals: Save or spend? (https://www.terrysavage.com/ask-terry/mandatory-withdrawals-saveor-spend) Answered on June 15, 2015 2 years ago I started taking the withdrawals. Fortunately I do not need it. Can it be reinvested?

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Student Loans after Forbearance (https://www.terrysavage.com/askterry/student-loans-after-forbearance) Answered on June 14, 2015 Dear Terry, I am not able to pay my student loan payments with Sallie Mae, not Naviant. I have been…

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When to take social security (https://www.terrysavage.com/askterry/when-to-take-social-security-3) Answered on June 14, 2015 I am 63 years old and have lost my job. I like not working and want to make a go of early…

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Mortgage refinancing (https://www.terrysavage.com/askterry/mortgage-refinancing) Answered on June 13, 2015 I want to refinance my mortgage so I can lower my payment and use that money to pay off other bills.

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Required annuity withdrawal at 70.5 (https://www.terrysavage.com/askterry/required-annuity-withdrawal-at-70-5) Answered on June 13, 2015 My husband will be 72 in August and is now being required to take a mandatory withdrawal from his…

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Parents Plus Loan in retirement (https://www.terrysavage.com/askterry/parents-plus-loan-in-retirement) Answered on June 12, 2015 Terry, we have an outstanding balance on our sons student loan of $86,000#. My husband is a retired…

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Two 401ks career woman turned housewife — what to do? (https://www.terrysavage.com/ask-terry/two-401ks-career-womanturned-housewife-what-to-do) Answered on June 12, 2015 Hi Terry, I am a 35 year old woman mother of two boys. I had a 401k with my first employer than…

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ARE TARGET DATE FIDELITY FUNDS SAFE FOR TOTAL RETIREMENT PLANING (https://www.terrysavage.com/ask-terry/aretarget-date-fidelity-funds-safe-for-total-retirement-planing) Answered on June 12, 2015

IS A MAJORITY OF RETIREMENT FUNDS INVESTED IN FIDELITY TARGET DATE FUNDS A SAFE WAY TO PROTECT MY…

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student loan debt for daughter (https://www.terrysavage.com/askterry/student-loan-debt-for-daughter) Answered on June 11, 2015 Great news today on the ability of students to refinance their loans! Have read through everything.

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Student loan refinancing (https://www.terrysavage.com/askterry/student-loan-refinancing-2) Answered on June 11, 2015 Where do I go to consolidate both federal and private college loans into one manageable loan.

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Long-term, high rate, already consolidated student loan! (https://www.terrysavage.com/ask-terry/long-term-high-rate-alreadyconsolidated-student-loan) Answered on June 11, 2015 I HAVE A SCHOOL LOAN FOR THE PAST 18 YEARS AT 7.5% AT ACS. IS THERE ANY WAY I COULD GET A CHEAPER…

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Student Loan Refinancing (https://www.terrysavage.com/askterry/student-loan-refinancing) Answered on June 11, 2015 I have looked for opportunities to refinance my student loans, to no avail. To qualify for services…

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real estate IRA (https://www.terrysavage.com/ask-terry/real-estate-ira) Answered on June 11, 2015

my husband purchased a house using money from his investments to purchase a house in a real estate…

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investment for retirement (https://www.terrysavage.com/askterry/investment-for-retirement-2) Answered on June 10, 2015 I am a 50 yr old that is self employed. What would you recommend how i can start saving for…

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why not tax all wages for social security (https://www.terrysavage.com/ask-terry/why-not-tax-all-wages-forsocial-security) Answered on June 9, 2015 My wife and I are both currently on social security and will not be probably affected by changes in…

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Current financial state of College Illinois! (https://www.terrysavage.com/ask-terry/current-financial-state-ofcollege-illinois) Answered on June 9, 2015 Hi Terry, My husband and I were somewhat relieved to find your answer to a similar query in December…

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VALIC IRA (https://www.terrysavage.com/ask-terry/valic-ira) Answered on June 8, 2015

I have a 40 year old VALIC IRA fixed account paying 4.5%. ($4400 in it.) I also have 85,000 in an…

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college debt and my children (https://www.terrysavage.com/askterry/college-debt-and-my-children) Answered on June 8, 2015 hi TerryI have written to you before. I am saving for an emergency fund and paying off debt. I have…

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Bad Credit Rating hurts Apartment Hunt (https://www.terrysavage.com/ask-terry/bad-credit-rating-hurtsapartment-hunt) Answered on June 8, 2015 Hi Terry, My husband and I have our home in short sale, we are looking for an apartment. My husband…

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Student loans (https://www.terrysavage.com/ask-terry/student-loans-2) Answered on June 7, 2015

Which are the best loans to reach for at this point. We figure we will need 10k for the next 4…

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Student Loans for my son (https://www.terrysavage.com/askterry/student-loans-for-my-son) Answered on June 7, 2015 My son is going to be a Sophomore in college. Freshman year FAFSA provided a small Un-Subsidized…

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What ETF should I invest IRA in? (https://www.terrysavage.com/askterry/what-etf-should-i-invest-ira-in) Answered on June 7, 2015 I have a Roth IRA account that I’m starting to put money in and wanted to know your thoughts on what…

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VA Loan Eligibility (https://www.terrysavage.com/ask-terry/va-loaneligibility) Answered on June 5, 2015 I was in the Army Reserve for 6 years with an honorable discharge. Am I eligible?

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Silver (https://www.terrysavage.com/ask-terry/silver) Answered on June 4, 2015 I have some money that I would like to invest (about 50K), and I’m looking for a somewhat “quick”…

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401K — what to do when leaving job? (https://www.terrysavage.com/ask-terry/401k-what-to-do-when-leavingjob) Answered on June 4, 2015 My daughter is leaving her company after 9 years. What should she do with her 401K account? Withdraw…

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Texas first time home buyers (https://www.terrysavage.com/askterry/texas-first-time-home-buyers) Answered on June 3, 2015 Is there a comparable program in Texas to ihda.org?

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Mortgage Refi/ Disposable Income/ What to do?? (https://www.terrysavage.com/ask-terry/mortgage-refi-disposableincome-what-to-do) Answered on June 2, 2015 Hello Terry, My wife and I would like to refinance our mortgage loan to lower our payment. We are in…

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credit cards — can’t pay! (https://www.terrysavage.com/askterry/credit-cards-cant-pay) Answered on June 2, 2015 I have 3 credit cards that are at $2,000 on each.i am not working and im not sure how to take care…

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loan (https://www.terrysavage.com/ask-terry/loan) Answered on June 1, 2015 Hi Terry my son will be attending college this fall. in order for him to start I still owe the high…

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401 retirement acct for early retiree (https://www.terrysavage.com/askterry/401-retirement-acct-for-early-retiree) Answered on June 1, 2015 I have been retired now for 3 yrs. I am 61 yrs.old and I have no bills. I still have my 401 at my…

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Refinancing a VA loan for older veteran, needs nursing care (https://www.terrysavage.com/ask-terry/refinancing-for-cash-out-on-ava-loan) Answered on June 1, 2015 My husband is a Korean Vet Originally bought house on VA loan in 1968. Retired firefighter Free and…

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VA Loans can be “assumed” (https://www.terrysavage.com/askterry/va-loans-can-be-assumed) Answered on June 1, 2015 I think in this environment you should have added the all VA loans have an assumption feature. That…

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May 2015 Questions & Answers By Terry Savage Should I keep Long Term Disability Policy (https://www.terrysavage.com/ask-terry/should-i-keep-long-termdisability-policy) Answered on May 31, 2015 I am 60 years old, unemployed and have an individual long term disability policy with CIGNA (not…

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Transferring 529 funds to another 529. Must they be ‘like’ to ‘like’? (https://www.terrysavage.com/ask-terry/transferring-529-funds-toanother-529-must-they-be-like-to-like) Answered on May 31, 2015 Can I transfer the funds from one 529 to another? Specifically, I have some funds (unhappily) in the…

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VA loans &PMI (https://www.terrysavage.com/ask-terry/va-loans) Answered on May 30, 2015

Read article on VA loans in local paper. If i read this correctly you wont have to pay pmi with a va…

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Grammar (https://www.terrysavage.com/ask-terry/grammar) Answered on May 30, 2015

Terry, with due respect, please inform the person who writes the captions for the news articles to…

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Pending Fed’s rate increase and investment strategy (https://www.terrysavage.com/ask-terry/pending-feds-rate-increaseand-investment-stratagy) Answered on May 30, 2015 I’m a fan of your no nonsense approach to savings and investments. I’m a very small investor, but…

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House/hospitals bills –help! (https://www.terrysavage.com/askterry/househospitals-bills-help) Answered on May 30, 2015 My mother and I purchased a house together. Purchase price $217,000. We have been here 12 years. Mom…

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My 21 year old non-traditional student (https://www.terrysavage.com/ask-terry/my-21-year-old-non-traditionalstudent) Answered on May 30, 2015 Hi Terry, Are there any resources that we can tap into to help my daughter pay for an MRI Scanning…

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Commercial Mortgage Bridge Loans (https://www.terrysavage.com/ask-terry/commercial-mortgage-bridgeloans-2) Answered on May 30, 2015 Financial Planner Jordan Goodman was recently on WGN’s Steve Cochran’s radio show touting the…

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VA mortgage. (https://www.terrysavage.com/ask-terry/va-mortgage) Answered on May 30, 2015

I read your comments on VA loans today. I am a vet, with an honorable discharge, and live with my…

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buying a first home (https://www.terrysavage.com/ask-terry/buying-afirst-home) Answered on May 30, 2015 My husband & i are trying to buy a home.Both our credits are not good, b/c we dont have any.What…

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Refinance car loan (https://www.terrysavage.com/ask-terry/refinancecar-loan) Answered on May 30, 2015 I’m 72 years old . I am paying 6.25 percent on a 7 year car loan. I had a bad credit rating caused…

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mortgage (https://www.terrysavage.com/ask-terry/mortgage-2) Answered on May 29, 2015

We bought our house at the top of the market, put 50000 into it by finishing the basement and adding…

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Refinance for lowere interest rate (https://www.terrysavage.com/askterry/refinance-for-lowere-interest-rate) Answered on May 29, 2015 I have a rental property that is underwater(worth 122,00 and owe 133,00) I would like to refinance…

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getting a mortgage from my paid off house to invest (https://www.terrysavage.com/ask-terry/getting-a-mortgage-from-mypaid-off-house-to-invest) Answered on May 28, 2015 Hi Terry I paid cash for my house and I have a financial planner,he told me to take out a mortgage…

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selling rental property (https://www.terrysavage.com/ask-terry/sellingrental-property) Answered on May 28, 2015 My husband and I are retired and have a rental condo unit that we would like to unload. It has…

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closing IRA moving to foreign country (https://www.terrysavage.com/ask-terry/closing-ira-moving-to-foreigncountry) Answered on May 28, 2015 I am 53 years old and am closing my IRA so I can move to the Philippines. Can I take my full amount…

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Long Term Care Insurance (https://www.terrysavage.com/askterry/long-term-care-insurance-7) Answered on May 27, 2015 I have MS and unable to get Long Term Care Insurance due to my illness. Every advertisement I have…

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Special Needs Trust (https://www.terrysavage.com/ask-terry/specialneeds-trust) Answered on May 27, 2015 Terry, I do not have a question, just a comment on your article on planning for the future of a…

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Gift giving for child’s home purchase (https://www.terrysavage.com/ask-terry/gift-giving-for-childs-homepurchase) Answered on May 26, 2015 We want to give 10 thousand dollars to our daughter to purchase a home. Is a gift tax free and how…

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Illinois pension debt (https://www.terrysavage.com/ask-terry/illinoispension-debt) Answered on May 26, 2015 Why aren’t the citizens of illinois clamoring for jail terms for the filthy, deceitful legislators…

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Recent article on Gold (https://www.terrysavage.com/ask-terry/recentarticle-on-gold) Answered on May 26, 2015 Are you serious about buying gold coins/bullion and putting it in a bank vault? What if it’s a long…

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Bankruptcy and Federal Income Taxes (https://www.terrysavage.com/ask-terry/bankruptcy-and-federalincome-taxes) Answered on May 25, 2015 Hi Terry, What is your recommendation for professional assistance regarding unpaid federal income…

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Variable annunity (https://www.terrysavage.com/ask-terry/variableannunity) Answered on May 25, 2015 My financial advisor put 300000 dollars of my retirement money into a variable annunity , should I…

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Mortgage Rates For Older Veterans (https://www.terrysavage.com/ask-terry/mortgage-rates-for-olderveterans) Answered on May 25, 2015 Hi Terry, I am an older Veteran who served in the military in the late 60’s, Do I qualify for the…

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Applying for a credit card (https://www.terrysavage.com/askterry/applying-for-a-credit-card) Answered on May 24, 2015 When our daughter was in college, we made her an authorized user on our major credit card for…

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2nd mortgage for vet. (https://www.terrysavage.com/ask-terry/2ndmortgage-for-vet) Answered on May 24, 2015 My son has a home. He is a desert storm vet. He has been able to get his main motgage rate reduced.

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taxes on IRA withdrawals in early retirement (https://www.terrysavage.com/ask-terry/taxes-on-ira-withdrawals-inearly-retirement) Answered on May 24, 2015 Can you explain why it’s better to pay taxes from IRA withdrawals with post-taxed money (i.e.

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Credit & marriage (https://www.terrysavage.com/ask-terry/creditmarriage) Answered on May 24, 2015 I have bad credit due to medical bills and getting married in September. Will my credit have any…

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giving stock broker total control (https://www.terrysavage.com/askterry/giving-stock-broker-total-control) Answered on May 24, 2015 My husband and I have been customers of this person for about 20 years and we have done well by him.

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bankruptcy and marriage (https://www.terrysavage.com/askterry/bankruptcy-and-marriage) Answered on May 23, 2015 if I marry someone who is filing for bankruptcy- does her bankruptcy affect my credit rating?

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what to do with RMD funds (https://www.terrysavage.com/askterry/what-to-do-with-rmd-funds) Answered on May 23, 2015 I am taking my RMD but at present I (my wife and I) are not in immediate need of the money. Options…

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first time homebuyers – mortgage ? (https://www.terrysavage.com/askterry/first-time-homebuyers-mortgage) Answered on May 22, 2015 My daughter is getting married and they want to buy a house – first time home buyers – what…

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Pension:Lump sum or Annuity (https://www.terrysavage.com/askterry/pensionlump-sum-or-annuity) Answered on May 22, 2015 I am 60 and leaving my company with a severance package. What are your thoughts on taking my pension…

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credit security online (https://www.terrysavage.com/ask-terry/creditsecurity-online) Answered on May 19, 2015 What companies do you recommend for the best credit and on-line security?

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Financial Planners (https://www.terrysavage.com/ask-terry/financialplanners) Answered on May 19, 2015 We are looking for a financial planner and in doing research on JPV Financial inc of Gurnee, Il we…

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Selling my house (https://www.terrysavage.com/ask-terry/selling-myhouse) Answered on May 18, 2015 I am thinking of selling my house. My son replaced all the kitchen appliances with stainless steel…

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Investments for home sale proceeds (https://www.terrysavage.com/ask-terry/investments-for-home-saleproceeds) Answered on May 17, 2015 I am 72 yrs. old and have about $375,000 from the recent sale of my house in a savings account. I…

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Funding Grandchildrens College (https://www.terrysavage.com/askterry/funding-grandchildrens-college) Answered on May 17, 2015 I have been looking into college Illinois for my grandchildren and am very disappointed. It looks…

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need name of financial planner and lawyer (https://www.terrysavage.com/ask-terry/need-name-of-financialplanner-and-lawyer) Answered on May 17, 2015 I am a recent widow in my 80’s and would like to make certain I have everything in correct order, so…

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money gift to children (https://www.terrysavage.com/ask-terry/moneygift-to-children) Answered on May 15, 2015 I’m interested & looking for some easy to understand way to gift tax exempt money to family .

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gold (https://www.terrysavage.com/ask-terry/gold-2) Answered on May 15, 2015 what percentage of an investment portfolio should be in gold? And should i buy gold coins or gold…

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Retirement Investment (https://www.terrysavage.com/askterry/retirement-investment) Answered on May 15, 2015 Terry, my wife and I are trying to determine what to do with about 55K which has become available.

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Favorite Apps You Mentioned (https://www.terrysavage.com/askterry/favorite-apps-you-mentioned) Answered on May 15, 2015 How do I get the mint app for keeping Trac of spending, and the app or way to have an amount less…

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Disability Insurance (https://www.terrysavage.com/ask-terry/long-termdisability-insurance-2) Answered on May 15, 2015 This is a follow up my question that you answereed on May 5 (it is copied below). The insurance I…

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Deferred Income Annuities (https://www.terrysavage.com/askterry/deferred-income-annuities) Answered on May 15, 2015 I enjoyed your Monday, April 20th presentation at the Harold Washington Public Library. The subject…

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Credit Card balance at death (https://www.terrysavage.com/askterry/credit-card-2) Answered on May 13, 2015 My dad was just diagnosed with cancer and not given long to live. My question is he has large credit…

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free credit SCORE? (https://www.terrysavage.com/ask-terry/freecredit-score) Answered on May 12, 2015 Where can I get a free credit score with no strings attached?

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Recession: Renting out my house. Sell in 2015 or wait ? (https://www.terrysavage.com/ask-terry/recession-renting-out-myhouse-sell-in-2015-or-wait) Answered on May 12, 2015 Hi Terry, Due to job loss, income & medical issues I have been renting out my house for 2 years.

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Illinois College Savings Bonds (https://www.terrysavage.com/askterry/illinois-college-savings-bonds) Answered on May 11, 2015 Terry, I hold a number of Illinois college savings bonds. They are beginning to mature this year and…

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retirement decision (https://www.terrysavage.com/ask-terry/retirementdecision) Answered on May 11, 2015 I am 60 and my wife is 62. We have no mortgage on our house and have about $600,000 in savings. I…

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Retirement strategy and taxes (https://www.terrysavage.com/askterry/retirement-strategy-and-taxes) Answered on May 11, 2015 I am 64 years old and receive $30,000 per year in maintenance for 7 more years. I only have…

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“Free” Financial Power of Attorney Forms (https://www.terrysavage.com/ask-terry/free-financial-power-ofattorney-forms) Answered on May 11, 2015 Dear Ms. Savage: I went on the internet to download a free generic type “Financial Power of…

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RETIREMENT safe money (https://www.terrysavage.com/askterry/retirement-safe-money) Answered on May 10, 2015 Having recently retired with no mortgage or outstanding debt, I find myself with a substantial…

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Currency crisis/ Dr. Ron Paul (https://www.terrysavage.com/askterry/currency-crisis-dr-ron-paul) Answered on May 9, 2015 What is your opinion of former Congressman Dr. Ron Paul’s prediction of a currency crisis, and…

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proper fee based financial planner compensation (https://www.terrysavage.com/ask-terry/proper-fee-based-financialplanner-compensation) Answered on May 9, 2015 Terry, thank you for taking this. We have begun reading your column in the new sunday Harrisburg,pa…

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Financial planner performance (https://www.terrysavage.com/askterry/financial-planner-performance) Answered on May 9, 2015 Terry, regarding your article “5ways to tell . . .”, the one question I was looking for pertains to…

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Investing and commissions (https://www.terrysavage.com/askterry/investing-and-commissions) Answered on May 9, 2015 Hi Terry, I was wondering if you know of any rules of thumb as far as a recommended minimum purchase…

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How to convince my mom to sign a promissory note? (https://www.terrysavage.com/ask-terry/how-to-convince-my-mom-tosign-a-promissory-note) Answered on May 9, 2015 Hi Terry, How do I convince my mom to sign a promissory note? I’m buying her part of the share of a…

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duplicate copy of annuity (https://www.terrysavage.com/askterry/duplicate-copy-of-annuity) Answered on May 5, 2015 Hi Terry, My husband bought an annuity in 1994 (flexible premium tax deferred annuity). He can’t…

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home mortgage pay off (https://www.terrysavage.com/ask-terry/homemortgage-pay-off-2) Answered on May 5, 2015 Hi – What is the best way to pay off my mortgage early? I currently have a 30 year fixed at appx…

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Long Term Disability Insurance (https://www.terrysavage.com/askterry/long-term-disability-insurance) Answered on May 5, 2015 I am 59 years old, single, no mortgage, with two grown children living on their own, have been out…

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Bonds (https://www.terrysavage.com/ask-terry/bonds-2) Answered on May 3, 2015

Dear Ms. Savage, I am writing concerning your article on bonds a few weeks ago. We are retired and…

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saving for college (https://www.terrysavage.com/ask-terry/saving-forcollege-2) Answered on May 3, 2015 Hi Terry, My daughter is approaching her first birthday and have begun saving for her future college…

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college funds for 10 year old (https://www.terrysavage.com/askterry/college-funds-for-10-year-old) Answered on May 3, 2015 I use Bright start college fund, (I think it is called that), never the less, I saw that you do not…

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Revocable Living Trusts for married couple. (https://www.terrysavage.com/ask-terry/revocable-living-trusts-formarried-couple) Answered on May 3, 2015 SHOULD MARRIED COUPLES HAVE TWO SEPARATE REVOCABLE LIVING TRUSTS?

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investing/retirement/healthcare (https://www.terrysavage.com/askterry/investingretirementhealthcare) Answered on May 3, 2015 are you doing any seminars in the Asheville, NC area ??

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Financing for Mobile Home (https://www.terrysavage.com/askterry/financing-for-mobile-home) Answered on May 3, 2015 Can you please give me advice on how to get financing for a mobile home that will be in an upscale…

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April 2015 Questions & Answers By Terry Savage Commercial Mortgage Bridge Loans (https://www.terrysavage.com/ask-terry/commercial-mortgage-bridgeloans) Answered on April 30, 2015 I heard a financial planner on WGN talk about the above bridge loan which returns 6% on a one year…

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long-term care insurance (https://www.terrysavage.com/ask-terry/longterm-care-insurance-6) Answered on April 30, 2015 Which of the asset-based (or hybred) LTCi products do you prefer and why?

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PARENT PLUS LOANS (https://www.terrysavage.com/askterry/parent-plus-loans) Answered on April 29, 2015 I TOOK OUT A PARENT PLUS LOAN (8.5%) ABOUT 8 YEARS OLD WHEN MY SON WENT TO COLLEGE YOU HEAR OF WAYS…

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home equity enough for refi? (https://www.terrysavage.com/askterry/home-equity-enough-for-refi) Answered on April 29, 2015 HI Terry. I owe 30000 on home equity. My mtg. Is 230000. The bank wont let me refinance mtg. And…

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401k rollover to a precious metals fund (https://www.terrysavage.com/ask-terry/401k-rollover-to-a-preciousmetals-fund) Answered on April 28, 2015 I would like to roll one of my retirement funds into precious metals. Can you recommend a trusted…

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2nd property paid for but want to invest in rehab (https://www.terrysavage.com/ask-terry/2nd-property-paid-for-butwant-to-invest-in-rehab) Answered on April 28, 2015 A second property is fully paid for. We can’t borrow against our primary residence to pay for…

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HECM for purchase (https://www.terrysavage.com/ask-terry/hecm-forpurchase) Answered on April 27, 2015 What is your opinion of HECM for purchase ? Thank You…

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Reverse Mortgages — how to get counseling (https://www.terrysavage.com/ask-terry/reverse-mortgages-how-to-getcounseling) Answered on April 27, 2015 I read your article in Sunday’s Tribune about Reverse Mortgages, good article. The article says that…

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Reverse Mortgage — balance of equity on death. (https://www.terrysavage.com/ask-terry/reverse-mortgage-balance-ofequity-on-death) Answered on April 27, 2015 Will the remaining principal balance on my reverse mortgage go to my listed relatives??

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Reverse Mortgage with disabled adult child (https://www.terrysavage.com/ask-terry/reverse-mortgage-withdisabled-adult-child) Answered on April 27, 2015 My brother and I are helping our 94 year old aunt (widowed)with some of her health care and…

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Reverse Mortgage with spouse under age 62 (https://www.terrysavage.com/ask-terry/reverse-mortgage-withspouse-under-age-62) Answered on April 27, 2015 If one spouse is under the age of 62.,can that spouse to qualify the other spouse ,and owner of…

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Reverse Mortgage — what can I get? (https://www.terrysavage.com/ask-terry/reverse-mortgage-what-can-iget) Answered on April 27, 2015 I enjoyed your resent article “5 things to know about reverse mortgages in the Commentary column of…

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Reverse Mortgages fixed or variable interest rate? (https://www.terrysavage.com/ask-terry/reverse-mortgages-fixed-orvariable-interest-rate) Answered on April 27, 2015 Dear Terry I have read your article about Reverse mortgages in the Sunday Sentinel, My question is,…

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reverse mortgage when parents can’t pay the bills (https://www.terrysavage.com/ask-terry/reverse-mortgage-whenparents-cant-pay-the-bills) Answered on April 27, 2015 My parents r in their mid 80²s and have a reverse mortgage with little money left to usethey r…

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Reversed mortgage in Sundays Sun Sentinel (https://www.terrysavage.com/ask-terry/reversed-mortgage-insundays-sun-sentinel) Answered on April 27, 2015 Please let me know who the lender is that helped your dad with his reverse mortgage. Thanks, Sheila…

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Capital gain on land sale. (https://www.terrysavage.com/askterry/capital-gain-on-land-sale) Answered on April 27, 2015 Terry, I recentley sold rental property, what can I do to keep from getting taxed on capital gains…

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reverse mortgage when selling a home (https://www.terrysavage.com/ask-terry/reverse-mortgage-whenselling-a-home) Answered on April 27, 2015 After reading your article in the Baltimore sunpaper I,m curious about how you would see a reverse…

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College Savings and risk of age-based (https://www.terrysavage.com/ask-terry/college-savings-and-risk-ofage-based) Answered on April 26, 2015 I am a resident of Illinois and currently have a Bright Start direct-sold plan for my each of my…

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Fixed Index Annuities (https://www.terrysavage.com/ask-terry/fixedindex-annuities) Answered on April 26, 2015 Hi Terry, I am a long time fan of yours and value your opinion. My husband and I are thinking about…

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Reverse Mortgage balance growing (https://www.terrysavage.com/askterry/reverse-mortgage-balance-growing) Answered on April 26, 2015 I have had a reverse mortgage for the past 8 years. Since that time the real estate value of my…

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770 Accounts (https://www.terrysavage.com/ask-terry/770-accounts) Answered on April 26, 2015

Can you give your opinion on so-called 770 accounts and what you think of them as an investment for…

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follow up on your answer re my mortgage (https://www.terrysavage.com/ask-terry/follow-up-on-your-answer-remy-mortgage) Answered on April 22, 2015 I am stuck.I cant refinance my mortgage and home equity. That would be 280000. The bank said no.So…

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IRA ACCOUNT lock-in for 8 years?? (https://www.terrysavage.com/ask-terry/ira-account-lock-in-for-8-years) Answered on April 22, 2015

I’m 70 year old will investing my money in Ira with a lock in for 8 years be wise…

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Medicare supplemental insurance for disabled (https://www.terrysavage.com/ask-terry/medicare-supplementalinsurance-for-disabled) Answered on April 21, 2015 Hi, Terry, I have a friend who is disabled. She is 53 yrs old, receiving Social Security disability…

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Financial and retirement advice for middle-aged single women with no children (https://www.terrysavage.com/ask-terry/financial-andretirement-advice-for-middle-aged-single-women-with-no-children) Answered on April 21, 2015

Hi Terry, I am almost 50, single with no children. I don’t make a lot of money and have very little…

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Estate Plan (https://www.terrysavage.com/ask-terry/estate-plan) Answered on April 19, 2015

I am over 65 years old and have still not written a will or made an estate plan. How do I find a…

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When to take social security (https://www.terrysavage.com/askterry/when-to-take-social-security-2) Answered on April 19, 2015 Hi, Terry. I’m a 65 year-old retired Chicago school teacher receiving my pension and am on medicare.

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Apron behind garage – assessed? (https://www.terrysavage.com/askterry/apron-behind-garage-assessed) Answered on April 17, 2015 My daughter just purchased a townhouse. The garage attached is 1 car with an apron on the outside.

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Social Security vs. ‘income’ (https://www.terrysavage.com/askterry/social-security-vs-income) Answered on April 17, 2015 Does taking an IRA distribution count as income that might reduce my monthly social security…

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Bright Start — still against it?? (https://www.terrysavage.com/askterry/bright-start-still-against-it) Answered on April 17, 2015 Do you still not recommend using the Illinois Bright Start program?

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Free credit report (https://www.terrysavage.com/ask-terry/free-creditreport-2) Answered on April 17, 2015 Where to get a credit report that is secure?

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401K rollover at age 71 (https://www.terrysavage.com/ask-terry/401krollover-at-age-71) Answered on April 17, 2015 My question: I’m 71. I attempted to roll over the balance in my employer 401K account and was told I…

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College Savings Plans in Illinois (https://www.terrysavage.com/askterry/college-savings-plans-in-illinois) Answered on April 16, 2015 (Terry: I read your December 8, 2013 article on College Savings Plans in Illinois and I completely…

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parmelee matherton mich coin (https://www.terrysavage.com/askterry/parmelee-matherton-mich-coin) Answered on April 16, 2015 I have a coin that has parmelee matherton Mich on it iv look all over the web an can’t find anything…

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home equity loan (https://www.terrysavage.com/ask-terry/home-equityloan) Answered on April 15, 2015 Would it be a better move to pay off a home equity loan from our investment money? The loan (used to…

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Chicken Money (https://www.terrysavage.com/ask-terry/chickenmoney-2) Answered on April 15, 2015 I just wanted to ask you professional opinion on my situation. I am a beneficiary to my parents and…

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Access to SEP/IRA funds in a medical emergency. (https://www.terrysavage.com/ask-terry/access-to-sepira-funds-in-amedical-emergency) Answered on April 14, 2015 I am considered disabled by social security and have been since 2012. Right now I am 62 years old…

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allocation mix (https://www.terrysavage.com/ask-terry/allocation-mix) Answered on April 14, 2015

With 2-4 years before retirement, approximately $1million in investments, I am being told my asset…

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What accounts to withdraw money from (https://www.terrysavage.com/ask-terry/what-accounts-to-withdrawmoney-from) Answered on April 14, 2015 Hi Terry, I wrote to you previously but I want to add information to my question (I haven’t received…

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getting good advice for my roth ira (https://www.terrysavage.com/askterry/getting-good-advice-for-my-roth-ira) Answered on April 13, 2015 Im 49 yr old single female. i have about $85,000 in my roth. i have a company managing it and was…

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True inflation (https://www.terrysavage.com/ask-terry/true-inflation) Answered on April 13, 2015

Why do so many expert financial reporters continue to quote the Federal governments version of…

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Buying Stock on my own (https://www.terrysavage.com/askterry/buying-stock-on-my-own) Answered on April 13, 2015 I’m 73, divorced, comfortable pension & collect Social Sec. I am now interested in buying stock…

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How to survive a 5-year divorce when $158,000 in savings paid for attorney’s fees. (https://www.terrysavage.com/ask-terry/how-tosurvive-a-5-year-divorce-when-158000-in-savings-paid-for-attorneysfees) Answered on April 3, 2015 I am a reasonably healthy 64 year old woman who has used all of her cash/investments to pay for a…

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Series E Savings Bonds (https://www.terrysavage.com/askterry/series-e-savings-bonds) Answered on April 3, 2015 I redeemed the Series E Savings Bonds I had purchased back in the 60s and 70s; however, my files…

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Closed End Municipal Bond Funds — sell? (https://www.terrysavage.com/ask-terry/closed-end-municipal-bondfunds-sell) Answered on April 3, 2015 I have owed a few of these for many years. They represent about 4% of my total portfolio. My…

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Long and short term insurance (https://www.terrysavage.com/askterry/long-and-short-term-insurance) Answered on April 3, 2015 Can long or short term insurance be bought after someone has already moved to an assisted living…

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Selling Coins in chicago (https://www.terrysavage.com/askterry/selling-coins-in-chicago) Answered on April 3, 2015 We are looking foe an honest coin dealer in chicago. We have a number of coins we would like to sell…

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Using 401K funds to pay LTC insurance premium as non-taxable event (https://www.terrysavage.com/ask-terry/using-401k-funds-to-pay-ltcinsurance-premium-as-non-taxable-event) Answered on April 3, 2015 Hi Terry – Does the IRS allow a direct roll-over of 401K funds to pay LTC insurance premiums? I…

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Core holding S&P 500? (https://www.terrysavage.com/ask-terry/coreholding-sp-500) Answered on April 3, 2015 Hi Terry, I’m might have missed your answer, but you had mentioned making the S&P Index Fund a…

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March 2015 Questions & Answers By Terry Savage Soon to be 70, I’m still working and have no retirement (https://www.terrysavage.com/ask-terry/soon-to-be-70-im-still-workingand-have-no-retirement) Answered on March 30, 2015 My wife and I really need someone that we can trust to discuss our financial plans. My wife and I…

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Annual Gifting Limits (https://www.terrysavage.com/ask-terry/annualgifting-limits) Answered on March 30, 2015 Hi, Terry. What are the annual limits on gifts for and between individuals? Thanks a bunch. …

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Inheritance/Small Windfall Best Use For This Money (https://www.terrysavage.com/ask-terry/inheritancesmall-windfall-bestuse-for-this-money) Answered on March 30, 2015 Terry, I and my husband are 51 and 55 yrs. old respectively we are both working. Daughter, in…

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Withdrawl at 62yrs. old from retirement funds to pay credit card debt? (https://www.terrysavage.com/ask-terry/withdrawl-at-62yrs-old-fromretirement-funds-to-pay-credit-card-debt) Answered on March 29, 2015 We got ourselves into a financial bind in which a credit card company put a lien on our townhouse.

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Medicare Advantage vs supplements (https://www.terrysavage.com/ask-terry/medicare-advantage-vssupplements) Answered on March 29, 2015 I have used Aetna Medicare Advantage plan ( CT ) for many years without any problems. Your answer…

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When can I stop reinvesting MRD and start using some of my money? (https://www.terrysavage.com/ask-terry/when-can-i-stop-reinvestingmrd-and-start-using-some-of-my-money) Answered on March 29, 2015 I’m 73 and retired. Living relatively comfortably off SS & other small pensions. Currently…

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How to cash in my Savings Bonds (https://www.terrysavage.com/askterry/how-to-cash-in-my-savings-bonds) Answered on March 29, 2015 I am in a nursing home with no family. How can I cash in my EE savings bond?

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Savings Bonds (https://www.terrysavage.com/ask-terry/savings-bonds) Answered on March 28, 2015

I listened to WGN in March when you mentioned a way to determine the value of the Series EE savings…

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Car Loans (https://www.terrysavage.com/ask-terry/car-loans) Answered on March 28, 2015

Terry, do you recommend taking out a car loan this month as interest rates may be on the increase in…

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series EE bonds (https://www.terrysavage.com/ask-terry/series-eebonds) Answered on March 28, 2015 I have some bonds dated 1988 how long can I keep these bonds, do I have to cash them after 30 years?

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gnma reinvestment income trust 120 (https://www.terrysavage.com/ask-terry/gnma-reinvestment-incometrust-120) Answered on March 28, 2015 What is your opinion of GNMA reinvestment income trust 120.Have approx 16K as of 9/2014 in it as…

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Suggested book for shower gift to open a financial discussion between engaged couples (https://www.terrysavage.com/ask-terry/suggestedbook-for-shower-gift-to-open-a-financial-discussion-between-engagedcouples) Answered on March 26, 2015 What’s the name of the book you discussed on WGN radio last week for above topic. I believe it’s…

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Getting info on funds/stocks (https://www.terrysavage.com/askterry/getting-info-on-fundsstocks) Answered on March 26, 2015 Terry, Is there a free web site that I can plug in a mutual fund name or stock name and get an…

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Social Security Benefits (https://www.terrysavage.com/ask-terry/socialsecurity-benefits-2) Answered on March 26, 2015 i am a 63 year old female married to a wonderful, very young 80 year old man who is retired and…

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Variable annuity (https://www.terrysavage.com/ask-terry/variableannuity) Answered on March 25, 2015 I am 69 and put some of my money into a variable annuity. It does not seem to be making any money…

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401k withdrawal to pay off student loan for son (https://www.terrysavage.com/ask-terry/401k-withdrawal-to-pay-offstudent-loan-for-son) Answered on March 25, 2015 My mother is thinking of withdrawing $25k from her 401k after she retires next year at the age of 70…

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Long Term Care (https://www.terrysavage.com/ask-terry/long-termcare) Answered on March 25, 2015 1)On the BI webinar tonight, were you suggesting that someone who has LTC insurance (for about 10…

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Medicare (https://www.terrysavage.com/ask-terry/medicare-2) Answered on March 25, 2015

Is it true that if I sign up for a Medicare Advantage plan and then want to switch the next year to…

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Long Term Care Insurance (https://www.terrysavage.com/askterry/long-term-care-insurance-5) Answered on March 25, 2015 Given the poor underwriting of many LTC policies, especially in the area of automatic inflation…

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Broker’s suggested purchase for IRA (https://www.terrysavage.com/ask-terry/brokers-suggested-purchasefor-ira) Answered on March 25, 2015 Will be 70 yo this November. Have IRA with various funds/stocks. Advisor suggests a sell of GRIT120…

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Federal Reserve ‘ownership’ (https://www.terrysavage.com/askterry/federal-reserve-ownership) Answered on March 25, 2015 I’ve heard that the Federal Reserve is ‘owned’ by the Rothchilds, Rockefellers, etc. and that the…

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interest onus bonds ee, that have matured at 30 yrs. (https://www.terrysavage.com/ask-terry/interest-onus-bonds-ee-thathave-matured-at-30-yrs) Answered on March 24, 2015 can money from gov. saving bonds that have matured, be reinvested to avoid tax on interest. am 82…

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Mandatory IRA Withdrawals (https://www.terrysavage.com/askterry/mandatory-ira-withdrawals) Answered on March 24, 2015 What can a person invest in when having to take mandatory withdrawals from an IRA, especially if…

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Insurance Annuity for 81 year old (https://www.terrysavage.com/askterry/insurance-annuity-for-81-year-old) Answered on March 23, 2015 Can an IRA be converted to an insurance annuity. If so, is that a wise investment for someone who is…

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gift tax (https://www.terrysavage.com/ask-terry/gift-tax) Answered on March 23, 2015

My 93 year old father passed away in January of 2014. He was the primary and I the secondary on a CD…

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401K WITHDRAWAL AT 55 (https://www.terrysavage.com/askterry/401k-withdrawal-at-55) Answered on March 22, 2015 LEFT JOB JUNE 2014, STARTED NEW JOB JUNE 2014 NOT ELEGIBLE FOR 401K UNTIL ON JOB 1 YEAR. TURNED 55…

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Old Coins (https://www.terrysavage.com/ask-terry/old-coins) Answered on March 20, 2015

Years ago you wrote a column in the Sun Times about old coins and recommend a dealer in Chicago. I…

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relative’s bond (https://www.terrysavage.com/ask-terry/relatives-bond) Answered on March 20, 2015

My recently deceased aunt left me a bond in her partner’s ( also deceased ) name before she died.

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follow up on previous question (https://www.terrysavage.com/askterry/follow-up-on-previous-question) Answered on March 20, 2015 thank you for your answer.. I will pay down my home equity $30,000. it will take about a year.I have…

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Claiming my mother on tax return (https://www.terrysavage.com/askterry/claiming-my-mother-on-tax-return) Answered on March 18, 2015 I pay over 1/2 of my mom’s living expenses for her home care. How do I claim this on my return. As a…

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Traditional vs. Roth IRA’s (https://www.terrysavage.com/askterry/traditional-vs-roth-iras) Answered on March 18, 2015 I just opened an account with fidelity and plan on rolling over a small Traditional IRA (that had…

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investment /retirement (https://www.terrysavage.com/askterry/investment-retirement) Answered on March 17, 2015 my mother is 75 years old and disabled. She has not worked since 1982 because of a terrible injury…

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Reporting Interest earned on matured Savings Bonds on final maturity – and its tax implications (https://www.terrysavage.com/askterry/reporting-interest-earned-on-matured-savings-bonds-on-finalmaturity-and-its-tax-implications) Answered on March 17, 2015 “When my Savings Bonds reach final maturity I understand from your recent column that I will have to…

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TSP account withdraw (https://www.terrysavage.com/ask-terry/tspaccount-withdraw) Answered on March 17, 2015 I have a TSP account with the government and although I am only 68 I need to start planning what to…

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Roth IRA conversion at age 81? (https://www.terrysavage.com/askterry/roth-ira-conversion-at-age-81) Answered on March 17, 2015 At 81 should I transfer all my IRAs to Roth IRA? Would that be beneficial?

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home equity or save cash (https://www.terrysavage.com/askterry/home-equity-or-save-cash) Answered on March 16, 2015 HI. I wrote earlier about my 30000 home equity line of credit. That is what I owe. I have a 230000…

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“5 things to know about investing in savings bonds”–Balto. Sun 3/15/15 (https://www.terrysavage.com/ask-terry/5-things-to-know-aboutinvesting-in-savings-bonds-balto-sun-31515) Answered on March 15, 2015 In your article Sunday, 3/15/15 you stated ”Older adjustable series EE bonds currently earn 1.40…

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Re mortgage — paydown before retirement, or not? (https://www.terrysavage.com/ask-terry/re-mortgage-paydown-beforeretirement-or-not) Answered on March 15, 2015 We owe $30,000 on our home with 2 years left on the loan- have no credit card debt and one car…

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Paying down my line of credit (https://www.terrysavage.com/askterry/paying-down-my-line-of-credit) Answered on March 15, 2015 MY MORTGAGE IS 230000.I HAVe 30000 LINE OF CREDIT. I have 70000 in 401k. No liquid cash..do I save…

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medicaid benefits and extra care for Mom (https://www.terrysavage.com/ask-terry/medicaid-benefits-and-extracare-for-mom) Answered on March 15, 2015 Hi Terry, Mom is 85yo,is a 24 hrs cares. She has custodial cares w nightcares and day cares, but…

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mortgage renewal (https://www.terrysavage.com/ask-terry/mortgagerenewal) Answered on March 15, 2015 My $310,000 mortgage is maturing on April 15. However, my house is going up for sale on April 1.

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Retirement allocations (https://www.terrysavage.com/askterry/retirement-allocations) Answered on March 15, 2015 I am 77 , my wife is 73 our total portfolio is 250,000 I need about 15,000.00 a year in addition to…

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Rollover IRA money (https://www.terrysavage.com/ask-terry/rolloverira-money) Answered on March 13, 2015 Hi, My bank had rollover over my old 401k into a Qualified Variable Annuity over 10 years ago. Is…

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Short Term care insurance policies (https://www.terrysavage.com/askterry/short-term-care-insurance-policies) Answered on March 13, 2015 Both my wife & I (in our 70’s) are not eligible for long term care insurance. Have each been…

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Retirement (https://www.terrysavage.com/ask-terry/retirement-2) Answered on March 12, 2015

My wife & I are currently debt free and within 2 years of retirement. Should we be funding our…

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my line of credit (https://www.terrysavage.com/ask-terry/my-line-ofcredit) Answered on March 10, 2015 HI Terry.. I am 54 and married. Should I pay off my home equity of 30000 dollars or save for…

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INVESTMENT PROPERTY in Florida (https://www.terrysavage.com/ask-terry/investment-property-in-florida) Answered on March 10, 2015

My husband and I are both age 72 and are residents of Illinois. We are currently spending the month…

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Pay off/down mortgage versus equity loan versus college loan (https://www.terrysavage.com/ask-terry/pay-offdown-mortgage-versusequity-loan-versus-college-loan) Answered on March 9, 2015 My mother recently passed away and I am preparing to sell her house (her only asset) and will stand…

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Opening an IRA after age 71 (https://www.terrysavage.com/askterry/opening-an-ira-after-age-71) Answered on March 9, 2015 I am almost 66 and retired my husband almost 71 and collecting on his IRA is still working part…

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individual bonds vs bond funds (https://www.terrysavage.com/askterry/individual-bonds-vs-bond-funds) Answered on March 9, 2015 Hi Terry, given a backdrop of rising bond yields (assuming we’ll get there at some point), which do…

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long term care & medicaid (https://www.terrysavage.com/askterry/long-term-care-medicaid) Answered on March 8, 2015 Hello Terry, I am over 80+ years old, widowed for many years. I have 2 adult children , both…

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Assets for sons of ill mother (https://www.terrysavage.com/askterry/assets-for-sons-of-ill-mother) Answered on March 8, 2015 My mother is bed ridden and unlikely to ever not be and she needs round the clock care. She is 85…

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Navigating Medicaid and long-term care (https://www.terrysavage.com/ask-terry/navigating-medicaid-and-longterm-care) Answered on March 8, 2015 My wife and I are 10 yrs away from a planned retirement both are healthy but we are thinking if long…

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home sale exclusion of gain (https://www.terrysavage.com/askterry/home-sale-exclusion-of-gain) Answered on March 8, 2015 Dear Terry, Can you please tell me if the IRS audits all home sales for ownership and use tests…

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retired, wondering whether to put most of my IRA into an index fund. (https://www.terrysavage.com/ask-terry/retired-wondering-whether-toput-most-of-my-ira-into-an-index-fund) Answered on March 8, 2015 My IRA is being managed now, but the fees (I think about 2% per quarter) are eating up most of any…

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Fear of lien / Student Loan Cosigner (https://www.terrysavage.com/ask-terry/fear-of-lien-student-loancosigner) Answered on March 8, 2015 About seven years ago my mother cosigned for a $25,000 non-governmental student loan for a…

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Bonds (https://www.terrysavage.com/ask-terry/bonds) Answered on March 7, 2015

I have short and intermediate bond funds. What should I do to protect myself if or when interest…

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Variable Annuities With Lincoln Financial (https://www.terrysavage.com/ask-terry/variable-annuities-with-lincolnfinancial) Answered on March 6, 2015 Terry, 8 years ago a financial planner convinced me to transfer all of my 401 k nest egg into a…

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Investment allocation between stocks and bonds (https://www.terrysavage.com/ask-terry/investment-allocation-betweenstocks-and-bonds) Answered on March 6, 2015 My husband and I are both 55 and looking over our retirement investments. What balance of…

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Annuities for retirment (https://www.terrysavage.com/askterry/annuities-for-retirment) Answered on March 6, 2015 My husband and I are about 5 years from retirement, and are concerned about making sure our money…

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landlord exemptiom (https://www.terrysavage.com/ask-terry/landlordexemptiom) Answered on March 5, 2015 I am a landlord in cook county and the real estate taxes are breaking me my house depriciated 33%…

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Husband is told he needs to open savings account under his name only to received IRA distribution at 70 1/2 (https://www.terrysavage.com/ask-terry/husband-is-told-he-needs-toopen-savings-account-under-his-name-only-to-received-ira-distributionat-70-12) Answered on March 5, 2015 Hi Terry, my husband told me that he is required to open up a savings account in his name only in…

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long term care and life insurance (https://www.terrysavage.com/askterry/long-term-care-and-life-insurance) Answered on March 5, 2015 you’ve written a couple articles 1) long term care combined with life ins 2) consider long term care…

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Paying off credit cards with 401K (https://www.terrysavage.com/askterry/paying-off-credit-cards-with-401k) Answered on March 5, 2015 Dear Terry, I sent you a this question a few minutes ago and realized I didn’t give you enough…

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Long Term Care Insurance (https://www.terrysavage.com/askterry/long-term-care-insurance-4) Answered on March 4, 2015 My husband and I received letters from Prudential regarding the Long Term Care Insurance policies we…

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Retirement investment with little risk but rewarding returns (https://www.terrysavage.com/ask-terry/retirement-investment-withlittle-risk-but-rewarding-returns) Answered on March 3, 2015 Would you recommend the Hoisington U.S. Treasury bond fund for retirement accounts? (WHOSX) Their…

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Commercial Bridge Loans (https://www.terrysavage.com/askterry/commercial-bridge-loans) Answered on March 2, 2015 Is there really no risk involved in investing in Commercial bridge loans?

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% on CD’s available NOW/chicken money article (https://www.terrysavage.com/ask-terry/on-cds-available-nowchickenmoney-article) Answered on March 2, 2015 Why not do your own homeworK instead of using Bankrate? Right NOW I can get FDIC insured 58 month…

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Taxable Income and IRA Options (https://www.terrysavage.com/askterry/taxable-income-and-ira-options) Answered on March 2, 2015 Terry, My husband and I have questions regarding two things: taxable income and IRA options. When…

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Converting a regular Ira to a ROTH IRA (https://www.terrysavage.com/ask-terry/converting-a-regular-ira-to-aroth-ira) Answered on March 2, 2015 Dear; Terry I am sorry to bother you with my question and your time: I lost my job on 2009 and i…

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February 2015 Questions & Answers By Terry Savage Stock Investing for College students. (https://www.terrysavage.com/ask-terry/stock-investing-for-collegestudents) Answered on February 26, 2015 I just finished high school and will be attending college next year. I always wanted to make money…

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mortgage on retirement community (https://www.terrysavage.com/askterry/mortgage-on-retirement-community) Answered on February 26, 2015 I don’t believe I get title to the residence, but when paying for a villa in a retirement community…

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At my age, should I be investing in Growth or Value IRAs? (https://www.terrysavage.com/ask-terry/at-my-age-should-i-beinvesting-in-growth-or-value-iras) Answered on February 22, 2015 I’m 51 and married. My husband is 48. My husband and I together make about $150k/year. We have no…

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ROTH IRA features for children vs 529 (https://www.terrysavage.com/ask-terry/roth-ira-features-for-childrenvs-529) Answered on February 22, 2015 I would like to set up a ROTH IRA for my grandchildren. Can they later on take the money out for…

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trusts (https://www.terrysavage.com/ask-terry/trusts) Answered on February 22, 2015

I live in Baltimore county, maryland. What are the names of law firms to establish a Rlt. thank you…

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savings (https://www.terrysavage.com/ask-terry/savings) Answered on February 21, 2015

Terry, My husband and I are 62. We are self employed. He will be able to receive social security. I…

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wills vs. trusts (https://www.terrysavage.com/ask-terry/wills-vs-trusts) Answered on February 20, 2015

Are there advantages in having a trust over a will?

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Investment in commercial bridge loans? (https://www.terrysavage.com/ask-terry/investment-in-commercialbridge-loans) Answered on February 20, 2015 How safe are investments called “Commercial Bridge Loans” i.e. knowelssystems.com as presented by…

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Can I make IRA contribution if no wages were earned? (https://www.terrysavage.com/ask-terry/can-i-make-ira-contribution-ifno-wages-were-earned) Answered on February 19, 2015 Can I make IRA contribution if no wages were earned last year? (Am single, 63, live on deceased…

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Investing (https://www.terrysavage.com/ask-terry/investing-3) Answered on February 19, 2015

Hi Terry – I saw your article in the Washington Post this past Sunday and thought I would see if you…

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lending money to childrem (https://www.terrysavage.com/askterry/lending-money-to-childrem) Answered on February 19, 2015 I have slightly more than 100k that I inherited from my parents. It is currenly in a jumbo CD…

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U.S. Treasury bills (https://www.terrysavage.com/ask-terry/u-streasury-bills) Answered on February 19, 2015 In your recent column, you stated that the safest short-term investment in the world is U.S.

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Sunday article in Denver Post (https://www.terrysavage.com/askterry/sunday-article-in-denver-post) Answered on February 17, 2015 I have attempted to use the free credit report website that you referenced in your column in the…

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college loans (https://www.terrysavage.com/ask-terry/college-loans) Answered on February 17, 2015

My kids need to get a loan for college this year. Hopefully we can pay it off quickly. Where is the…

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where to withdraw monies — reverse mortgage? (https://www.terrysavage.com/ask-terry/where-to-withdraw-moniesreverse-mortgage) Answered on February 17, 2015 Where to withdraw add’l income: reverse mortgage or variable annuity? Our only income is social…

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Money in savings (https://www.terrysavage.com/ask-terry/money-insavings) Answered on February 17, 2015 What should I do with my savings in a few different banks now that I have retired. I do have a few…

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Retirement accounts (https://www.terrysavage.com/askterry/retirement-accounts-2) Answered on February 17, 2015 I am 64 years old and retired from the educational system. I receive a monthly pension from the…

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Free Credit Report: “freeze” on your cresit (https://www.terrysavage.com/ask-terry/free-credit-report-freeze-onyour-cresit) Answered on February 15, 2015 In your “5 easy moves to fast-track your finances” article, under the “Check your credit”…

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How to report a small inheritance (https://www.terrysavage.com/askterry/how-to-report-a-small-inheritance) Answered on February 15, 2015 Hi, Terry, My mom passed away in 2014 at the age of 91. Her home was the only asset she had. She and…

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index funds not at my broker (https://www.terrysavage.com/askterry/index-funds-not-at-my-broker) Answered on February 15, 2015 I have Edward Jones as a broker. I keep asking about Index fund, and he keeps steering me away from…

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Cook County Real Estate Exemptions (https://www.terrysavage.com/ask-terry/cook-county-real-estateexemptions) Answered on February 13, 2015 The single-family house (located in Cook County) is deeded to my mother’s estate (my mother is now…

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Investing all assets with the same investment group (https://www.terrysavage.com/ask-terry/investing-all-assets-with-thesame-investment-group) Answered on February 12, 2015 Hi Terry, My question to you is, do believe its wise to invest all of our assets with the same…

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Short sale and asset protection (https://www.terrysavage.com/askterry/short-sale-and-asset-protection) Answered on February 12, 2015 I have land in Florida “underwater” and bank loan on this investment for $90,000 ($100,000 in 2006)…

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pension fears cause retirement? (https://www.terrysavage.com/askterry/pension-fears-cause-retirement) Answered on February 10, 2015 I worked for a company for 20yrs. Then they shut down I’ve been working at another company for 10yrs…

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Taxes and a Single Person (https://www.terrysavage.com/askterry/taxes-and-a-single-person) Answered on February 10, 2015 I am 60 years old, single, and making around $95,000 a year. I have a 401 and put the maximum in…

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529 plans…. Bright Start or Bright Directions (https://www.terrysavage.com/ask-terry/529-plans-bright-start-orbright-directions) Answered on February 8, 2015 February 3, 2015 Hi Terry, My Wife and I were considering rolling over our kids (8 & 6), Bright…

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Life Insurance over 50 (https://www.terrysavage.com/ask-terry/lifeinsurance-over-50) Answered on February 8, 2015 Looking to retire in 4 years and will collect a city pension approx. $75,000 (hopefully) and should…

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freeze on my credit reports (https://www.terrysavage.com/askterry/freeze-on-my-credit-reports) Answered on February 8, 2015 How do I put a freeze on my credit reports…

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January 2015 Questions & Answers By Terry Savage retirement (https://www.terrysavage.com/ask-terry/retirement) Answered on January 30, 2015

Hey, I’m 45 with 146k in a 401k and 1700.00 in pensions per month accumulated so far. Is it fair to…

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Medical Insurance websites? (https://www.terrysavage.com/askterry/medical-insurance-websites) Answered on January 30, 2015 On the radio you mentioned your favorit web sites when shopping fo health insurance can you tell me…

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529 Plan on FAFSA — which (divorced) Parent should be custodian? (https://www.terrysavage.com/ask-terry/529-plan-on-fafsa-whichdivorced-parent-should-be-custodian) Answered on January 28, 2015 Hi Terry, it was good to see your article discussing the FAFSA today. My daughter is a…

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IRA and RMD’s for 82 year old woman (https://www.terrysavage.com/ask-terry/ira-and-rmds-for-82-year-oldwoman) Answered on January 28, 2015 My father passed away in March of 2014, and my mother (82 years old) was the beneficiary of his…

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FOREVER BOX (https://www.terrysavage.com/ask-terry/forever-box) Answered on January 28, 2015

Please tell me the specific documents one should keep in the ‘Forever Box’, Thank you…

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Coverdell ESA tax free distributions? (https://www.terrysavage.com/ask-terry/coverdell-esa-tax-freedistributions) Answered on January 26, 2015 I would like to know if any of the following expenses are reimbursable (tax free) from a Coverdell…

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Participating Whole Life insurance (https://www.terrysavage.com/askterry/participating-whole-life-insurance) Answered on January 26, 2015 H i Terry, I’m considering a Participating Whole Life (PWL) insurance policy but have some concerns.

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buying a car for teen driver (https://www.terrysavage.com/askterry/buying-a-car-for-teen-driver) Answered on January 26, 2015 Dear Terry, We want to get our 16 year old driver a good newer or new car. Reasons are so she can…

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Buying gold or silver (https://www.terrysavage.com/ask-terry/buyinggold-or-silver) Answered on January 26, 2015 We have ten thousand dollars to invest. Would gold or silver be a good hedge against inflation or…

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retiring with 41 yrs service at 62 i have a lump sum of 409 thousand (https://www.terrysavage.com/ask-terry/retiring-with-41-yrs-service-at62-i-have-a-lump-sum-of-409-thousand) Answered on January 24, 2015 what would you suggest for investments any reputable for stable ?hybrid annuities? any help would be…

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Revolving home equity loan (https://www.terrysavage.com/askterry/revolving-home-equity-loan) Answered on January 24, 2015 What can one do?. Interest rate is at 14.99%, no equity in home. Mortgage is under water; no one…

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credit report errors (https://www.terrysavage.com/ask-terry/creditreport-errors) Answered on January 24, 2015 Hi Terry, I recently pulled up my credit report and found that my information was all incorrect and…

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Roth versus traditional IRAs for “older” people! (https://www.terrysavage.com/ask-terry/roth-versus-traditional-iras-forolder-people) Answered on January 24, 2015 My wife is eager to put money from our savings into Roth IRAs. Given that I am 67, retired, and my…

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Tax on non-educational withdrawal Bright Start program (https://www.terrysavage.com/ask-terry/tax-on-non-educationalwithdrawal-bright-start-program) Answered on January 24, 2015 Hello, We withdrew funds from our four grandchildren’s Bright Start account. We used the money as a…

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Social Security (https://www.terrysavage.com/ask-terry/social-security) Answered on January 21, 2015

Terry, You mentioned on WGN Radio with Bob and Marianne if you delay taking Social Security benefits…

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credit monitoring (https://www.terrysavage.com/ask-terry/creditmonitoring) Answered on January 20, 2015 Do you think it’s necessary to buy credit monitoring such as Protect My ID or Lifelock and which do…

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Your Personal Planning Guide (https://www.terrysavage.com/askterry/your-personal-planning-guide) Answered on January 20, 2015 Recently on WGn you spoke about a planning guide available through your website. I have not been…

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OWNERS TITLE POLICY (https://www.terrysavage.com/askterry/owners-title-policy) Answered on January 20, 2015 When our sister passed, myself and two other siblings inherited her estate which included her home.

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ONLINE SAVINGS ACCOUNT (https://www.terrysavage.com/askterry/online-savings-account) Answered on January 20, 2015 Hello, Have a CD mature for $50000.00 Your thought on Discover online savings account Currently…

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Abandoned Investment Accounts (https://www.terrysavage.com/askterry/abandoned-investment-accounts) Answered on January 19, 2015 Recently we have received letters from mutual fund and stock shareholder service companies notifying…

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retiring in april 30 41 yrs with company (https://www.terrysavage.com/ask-terry/retiring-in-april-30-41-yrs-withcompany) Answered on January 17, 2015 i am 62 i have as of now my lump sum i am taking to invest i see you dont like annuities too much…

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Social Security retirement age (https://www.terrysavage.com/askterry/social-security-retirement-age) Answered on January 17, 2015 I heard you today on WGN talking about the best age to claim Social Security. I didn’t get the whole…

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SSN benefit and teachers (https://www.terrysavage.com/ask-terry/ssnbenefit-and-teachers) Answered on January 17, 2015 Hi Terry. My wife is a teacher. She has her own social security benefit through education, but has…

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Document retention (https://www.terrysavage.com/ask-terry/documentretention) Answered on January 17, 2015 Can filed tax returns, credit card statements, paycheck stubs, bank statements, insurance…

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Where to invest one portion of my IRA account (https://www.terrysavage.com/ask-terry/where-to-invest-one-portion-ofmy-ira-account) Answered on January 12, 2015 I have $6,000 in my Vanguard IRA that is just as cash and is not in a fund. I’d like to invest it…

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FAFSA and parental privacy (https://www.terrysavage.com/askterry/fafsa-and-parental-privacy) Answered on January 12, 2015 Hi Terry. I just read your BLOG posting about FAFSA and Family via Huffington Post. You are the…

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taxes on a college savings account? (https://www.terrysavage.com/ask-terry/taxes-on-a-college-savingsaccount) Answered on January 12, 2015 I have College savings accounts for my two grandchildren totaling about $133,850 together. Since I…

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Investments/ annuities (https://www.terrysavage.com/askterry/investments-annuities) Answered on January 11, 2015 What do you think about annuities?

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WGN discussions mortgage refinancing (https://www.terrysavage.com/ask-terry/wgn-discussions-mortgagerefinancing) Answered on January 10, 2015 Can you give me the email address of the person ( Leslie, I think) who you mentioned on WGN this…

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RMD at age 72 (https://www.terrysavage.com/ask-terry/rmd-at-age-72) Answered on January 9, 2015

I am 72 and have lost my job in November 2014. When do I have to take my first RMD?

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capital gains on sale of home (https://www.terrysavage.com/askterry/capital-gains-on-sale-of-home) Answered on January 9, 2015 I’m a disabled widow with an income of $12,000 a year I sold my home for 35000 do I owe the IRS any…

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Roth Conversion (https://www.terrysavage.com/ask-terry/rothconversion) Answered on January 9, 2015 Hi Terry, I am seeking more tax diversification for my retirement account and want to gain more Roth…

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LTC Insurance Denied (https://www.terrysavage.com/ask-terry/ltcinsurance-denied) Answered on January 9, 2015 My husband and I recently applied for LTC Insurance. He was denied for medial reasons. Would we be…

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Mint mobile app (https://www.terrysavage.com/ask-terry/mint-mobileapp) Answered on January 7, 2015 So, for your story, “Mint a prosperous new year with handy bill-pay app,” did you actually test the…

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Line of credit (https://www.terrysavage.com/ask-terry/line-of-credit) Answered on January 7, 2015

I have a line of credit at 3.29 and a balance of 168,00.00 which is owed. My house is paid off.

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bill paying app (https://www.terrysavage.com/ask-terry/bill-paying-app) Answered on January 7, 2015

You talked about an app today on WGN that tells you when your bills are due. What was the name of…

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refinancing a home loan (https://www.terrysavage.com/askterry/refinancing-a-home-loan) Answered on January 7, 2015 Terry , we live in the Naperville/Aurora area. Can you recommend someone we can speak to about…

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HELOC or IRA (https://www.terrysavage.com/ask-terry/heloc-or-ira) Answered on January 6, 2015

Terry: I am 64 years old and am working as a 1099 contractor. I may need some extra cash to pay some…

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Recent college graduate filling out forms to payback student loans (https://www.terrysavage.com/ask-terry/recent-college-graduate-fillingout-forms-to-payback-student-loans) Answered on January 6, 2015 Where should we look for how to fill out the online questions for my son to repay his college…

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IRA withdrawal penalties for MRD (https://www.terrysavage.com/askterry/ira-withdrawal-penalties-for-mrd) Answered on January 6, 2015 I am 71 years old. I am taking RMD’s from an IRA CD which is about to mature. If I roll over the CD…

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investment for children (https://www.terrysavage.com/askterry/investment-for-children) Answered on January 3, 2015 My 14 year old son is interested in purchasing stock. Is there an age requirement for purchasing…

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Youth trying to establish credit (https://www.terrysavage.com/askterry/youth-trying-to-establish-credit) Answered on January 2, 2015 My grand daughter is 21 years old. She has a job as a retail assistant manager. She lives at home.

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IRA For New Graduate (https://www.terrysavage.com/ask-terry/ira-fornew-graduate) Answered on January 2, 2015 As part of a high school graduation present I wanted to start either an IRA or a ROTH IRA for my…

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IRA CD maturing (https://www.terrysavage.com/ask-terry/ira-cdmaturing) Answered on January 1, 2015 I have an IRA CD maturing and would like to know where I could get a better rate?I was getting 1.40%…

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December 2014 Questions & Answers By Terry Savage Long Term Care at age 73 (https://www.terrysavage.com/askterry/long-term-care-at-age-73) Answered on December 31, 2014 I am a 73 year old active female. I keep busy and love to travel. Should I buy Long Term Care…

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Pension Buyout (https://www.terrysavage.com/ask-terry/pensionbuyout) Answered on December 31, 2014 How is a pension buyout calculated?

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Financial advisor (https://www.terrysavage.com/ask-terry/financialadvisor) Answered on December 31, 2014 As I get closer to retirement – At this time, I am a full-time employee, (71) years old, but plan to…

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Elderly Invesment (https://www.terrysavage.com/ask-terry/elderlyinvesment) Answered on December 29, 2014 Hi Terry, Both of my parents are living and just sold their home (only asset). How should they…

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Checking on a debt consolidation company (https://www.terrysavage.com/ask-terry/checking-on-a-debtconsolidation-company) Answered on December 29, 2014 I have been contacted by a a company named “card Services” which has promised me a savings of $2500…

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Getting your financial organizer (https://www.terrysavage.com/askterry/getting-your-financial-organizer) Answered on December 29, 2014 how do I get your free personal financial organizer…

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How do I open up an IRA (https://www.terrysavage.com/ask-terry/howdo-i-open-up-an-ira) Answered on December 29, 2014 Hi Terry I am a social worker and dont make much money. I would like to invest more since i am now…

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Living Trust and Real Estate Owned with Daughter (https://www.terrysavage.com/ask-terry/living-trust-and-real-estateowned-with-daughter) Answered on December 29, 2014 Hi Terry, my wife and I are setting up a living trust in order to pass on our estate to our two…

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Investment in Gold in Retirement Account (https://www.terrysavage.com/ask-terry/investment-in-gold-inretirement-account) Answered on December 21, 2014 Hi Terry, Can you recommend a reputable gold company I can rollover my $25 401 k; i started…

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USPS cyber attack (https://www.terrysavage.com/ask-terry/uspscyber-attack) Answered on December 21, 2014 Hi Terry, I work for the postal service, which was recently a victim of cyber attack. They sent me a…

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Government Thrift Savings Plan (https://www.terrysavage.com/askterry/government-thrift-savings-plan) Answered on December 20, 2014 Can a Government Thrift Savings Plan be transferred to a Money Market account? If so, are there tax…

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Using IRA’s to pay for college tuition (https://www.terrysavage.com/ask-terry/using-iras-to-pay-for-collegetuition) Answered on December 18, 2014 Hi Terry: I need to use some of my IRA money to pay my children’s tuition. Is there any advantage to…

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“walking away from my mortgage (https://www.terrysavage.com/askterry/walking-away-from-my-mortgage) Answered on December 18, 2014 what are the legal & financial consequences of “walking away” from your house/mortgage?

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HSA withdrawals (https://www.terrysavage.com/ask-terry/hsawithdrawals) Answered on December 17, 2014 Hi Terry, I hope you had an enjoyable Thanksgiving! We were able to get away and visit with our…

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Should Working Spouses Invest in the Same Retirement Plans (https://www.terrysavage.com/ask-terry/should-working-spousesinvest-in-the-same-retirement-plans) Answered on December 17, 2014 Terry, I recently took a position at the same organization where my husband works. We have two…

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RMD (https://www.terrysavage.com/ask-terry/rmd) Answered on December 16, 2014

I turned 70 this year and have to make my RMD from my 401Kby December. I know I can defer the first…

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EE Savings Bonds — tell my kids? (https://www.terrysavage.com/askterry/ee-savings-bonds-tell-my-kids) Answered on December 16, 2014 I have EE Savings bonds for my children (gifts when they were young-either purchased by relatives or…

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Fees charged by financial planner (https://www.terrysavage.com/askterry/fees-charged-by-financial-planner) Answered on December 15, 2014 My husband and I recently met with a financial planner from Edward Jones. We have $100K to invest…

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Is using mint.com safe (https://www.terrysavage.com/ask-terry/isusing-mint-com-safe) Answered on December 15, 2014 If I add all my accounts into mint.com, is it safe and secure. Please advise…

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Good lawyer for modest estate plan (https://www.terrysavage.com/askterry/good-lawyer-for-modest-estate-plan) Answered on December 14, 2014 Can you recommend a lawyer to design an estate plan for me? I remember several years ago, one estate…

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How Do I Buy Gold? (https://www.terrysavage.com/ask-terry/how-do-ibuy-gold) Answered on December 13, 2014 How do I go about buying gold and/or silver? And is it a good idea at this time?

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Should I pay off my mortgage before I retire? (https://www.terrysavage.com/ask-terry/should-i-pay-off-my-mortgagebefore-i-retire) Answered on December 13, 2014 Terry, I’m a 66 year old female who is still working with a gross salary of approximately %55,000 a…

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Federal and CA state taxes (https://www.terrysavage.com/askterry/federal-and-ca-state-taxes) Answered on December 13, 2014 My mother in law is 82. She receives SS and a not to large pension from several jobs. Is she still…

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Reverse Mortgages (https://www.terrysavage.com/ask-terry/reversemortgages-2) Answered on December 5, 2014 Hi Terry, My spouse is retired. My spouse is always jotting down contact info for reverse mortgages.

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i’ m 73 yrs old,doi have to pay fed.tax after selling my house ? (https://www.terrysavage.com/ask-terry/i-m-73-yrs-olddoi-have-to-payfed-tax-after-selling-my-house) Answered on December 5, 2014 Do i have to pay fed. tax after selling my HOUSE/…

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November 2014 Questions & Answers By Terry Savage Starting (Completely) over at 50 (https://www.terrysavage.com/askterry/starting-completely-over-at-50) Answered on November 28, 2014 Hi Terry, My husband and I are 50 years old, both if us are self-employed, and we lost our home (and…

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Cd rates (https://www.terrysavage.com/ask-terry/cd-rates) Answered on November 28, 2014

I live in the s:w side of Chicago . Could you provide a savings institution with the best cd or…

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Credit protection (https://www.terrysavage.com/ask-terry/creditprotection) Answered on November 28, 2014 Hi Terry, Seven years ago, my wallet was stolen, including my social security number. I shut down…

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IRA/RMD –when and how do I start? (https://www.terrysavage.com/ask-terry/irarmd-when-and-how-do-istart) Answered on November 24, 2014 My traditional IRA matures in may every year. in may 2015 i will be 70 years & 4 months old. I…

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Unemployment Numbers lie! (https://www.terrysavage.com/askterry/unemployment-numbers-lie) Answered on November 24, 2014 After 30 years of service to my employer, my position was eliminated. As I continue to seek…

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Getting a Credit Report without a Computer (https://www.terrysavage.com/ask-terry/getting-a-credit-report-withouta-computer) Answered on November 23, 2014 I have a friend who does not have a computer. How can she get her annual free credit report?

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husband’spending (https://www.terrysavage.com/askterry/husbandspending) Answered on November 22, 2014 My husband took early retirement since his co. Downsize. In two years he has spent all the money…

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Should I keep our Universal Life Insurance, or take the loss? (https://www.terrysavage.com/ask-terry/should-i-keep-our-universallife-insurance-or-take-the-loss) Answered on November 22, 2014 Hello, Ms. Savage. My wife and I were sold $100,000Universal Life insurance policies when we got…

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Fee Managed Portfolio Accounts vs. Target/ Index Accounts (https://www.terrysavage.com/ask-terry/fee-managed-portfolioaccounts-vs-target-index-accounts) Answered on November 22, 2014 Terry, I am 66 and retired a year ago. I recently rolled over $100,000 from my 401K into the…

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future market risk for retirees (https://www.terrysavage.com/askterry/future-market-risk-for-retirees) Answered on November 22, 2014 We are retired for nine years, living on SS and interest funds. So many scary predictions on the…

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Roth IRA – Young Adult (https://www.terrysavage.com/ask-terry/rothira-young-adult) Answered on November 21, 2014 Hi Terry, my son has a part time job at his school. I would like him to open up ROTH IRA. Can you…

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Required minimum withdrawls from IRa’s (https://www.terrysavage.com/ask-terry/required-minimum-withdrawlsfrom-iras) Answered on November 17, 2014 Thank you for taking the time to answer my three questions on required minimum withdrawls from an…

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Savings Bank (https://www.terrysavage.com/ask-terry/savings-bank) Answered on November 14, 2014

Wife interested in your saving bank that was shown on WGN this morning.She would like to get one for…

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MONEY IDEAS AND GIFTS ON WGN-TV ON NOVEMBER 11TH AT 9:30AM (https://www.terrysavage.com/ask-terry/money-ideas-andgifts-on-wgn-tv-on-november-11th-at-930am) Answered on November 14, 2014 what is the name of the book for teenagers that you showed on WGN..i think it was titled OMG TEENAGE…

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Mortgage dilema (https://www.terrysavage.com/ask-terry/mortgagedilema) Answered on November 12, 2014 I owe about 250K on my home. It is worth about $525K. We built it for $615K. The interest rate is…

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Planning for retirement after divorce (https://www.terrysavage.com/ask-terry/planning-for-retirement-afterdivorce) Answered on November 12, 2014 Terry, We have spoken before and today after 4 1/2 years of a divorce and a lengthy trial I am…

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investment account’s prospectus (https://www.terrysavage.com/askterry/investment-accounts-prospectus) Answered on November 11, 2014 Do I need to save all the prospectuses and backup documentation that come for my investment…

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living trust — role of the lawyer? (https://www.terrysavage.com/askterry/living-trust-role-of-the-lawyer) Answered on November 9, 2014 I am doing one with a lawyer, but ,other than the bare bones portions he inserted, I have provided…

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What to do with a large sum of $$$ earned from real estate? (https://www.terrysavage.com/ask-terry/what-to-do-with-a-large-sumof-earned-from-real-estate) Answered on November 9, 2014 He Terry, I am a commercial real estate broker and I am expecting some large commissions that will…

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living trust vs. will (https://www.terrysavage.com/ask-terry/living-trustvs-will) Answered on November 9, 2014 I think I am just like the person you talked about this morning on WGN. You mentioned the topic was…

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will vs trust (https://www.terrysavage.com/ask-terry/will-vs-trust) Answered on November 9, 2014

just missed you on wgn, what is best for me a will or trust? i have appox $200k invested. my wife…

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revokable living trust (https://www.terrysavage.com/askterry/revokable-living-trust) Answered on November 9, 2014 What exactly is a revokable living trust? What are the benefits of having this verses a regular…

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Internation investing (https://www.terrysavage.com/askterry/internation-investing) Answered on November 9, 2014 I have diversified my portfolio to mutual funds via Edward Jones. One avenue that hasn’t performed…

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Long Term Care Insurance premiums rise 102%! (https://www.terrysavage.com/ask-terry/long-term-care-insurancepremiums-rise-102) Answered on November 3, 2014 Terry, last year you wrote about the LTHC scam:…

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Investing (https://www.terrysavage.com/ask-terry/investing-2) Answered on November 3, 2014

Dear Terry: I was a faithful reader when you were a columinist for the Chicago SunTimes and tried…

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refinancing (https://www.terrysavage.com/ask-terry/refinancing) Answered on November 3, 2014

Hi Terry, just heard you on WGN! I have a 30-Fixed FHA mortgage, 5.5%. My home is probably worth the…

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annuity paid in for 43 years, what now? (https://www.terrysavage.com/ask-terry/annuity-paid-in-for-43-yearswhat-now) Answered on November 2, 2014 my sister has been paying into an annuity since she was 22. she received a notice that since she has…

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October 2014 Questions & Answers By Terry Savage General Electric (https://www.terrysavage.com/ask-terry/generalelectric) Answered on October 31, 2014 Our investment adviser recommends buying General Electric stock but a friend I admire says it has…

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Medicare supplemental insurance necessary for Parent (https://www.terrysavage.com/ask-terry/medicare-supplementalinsurance-necessary-for-parent) Answered on October 30, 2014 Terry, here’s the situation. My mother is 92 years old, just sold her home and had to move into…

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Repaying personal loan, planning for child’s college, retirement? (https://www.terrysavage.com/ask-terry/repaying-personal-loanplanning-for-childs-college-retirement) Answered on October 30, 2014 Hi Terry: I listen to you every Wednesday on WGN and am always so impressed. My question is I took a…

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457 withdrawal (https://www.terrysavage.com/ask-terry/457withdrawal) Answered on October 28, 2014 Retired drawing pension. Part time employed with $4,000 per year. Can 457 plan be withdrawn. Retired…

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how to invest (https://www.terrysavage.com/ask-terry/how-to-invest) Answered on October 28, 2014

Terry, i am 54 years old. i have a mortgage of about $80,000.00 with an interest rate of 3.35%. i…

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Age 70, working full time, can I contrbute to co. 401K plan and when must I take MRD, when I fullly retire?? (https://www.terrysavage.com/ask-terry/age-70-working-full-time-can-icontrbute-to-co-401k-plan-and-when-must-i-take-mrd-when-i-fulllyretire) Answered on October 28, 2014 I’m working full time at age 70 and intend to work until I’m 72 or 73. I’m going to continue to…

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variable annuities in retirement? (https://www.terrysavage.com/askterry/variable-annuities-in-retirement) Answered on October 27, 2014 What do you think of a variable annuity as an investment for people who are about to retire? What we…

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Roth vs Traditional Ira (https://www.terrysavage.com/ask-terry/roth-vstraditional-ira) Answered on October 27, 2014 I am 30 years old, which IRA wouldbe better for me, a traditional IRA or the Roth. Thank you…

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Paying credit card debt with Roth IRA (https://www.terrysavage.com/ask-terry/paying-credit-card-debt-withroth-ira) Answered on October 27, 2014 Hello Terry. Do you think it would be ok if I paid off 2 of my credit cards with my Roth IRA? I am…

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Transferring my annuity money to broker (https://www.terrysavage.com/ask-terry/transferring-my-annuitymoney-to-broker) Answered on October 27, 2014 Terry, I transferred my TIAA CREF (Fixed?) annuity over to a broker but have decided I don’t want to…

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Healthcare — spouse’s insurance plan won’t cover me anymore! (https://www.terrysavage.com/ask-terry/healthcare-spouses-insuranceplan-wont-cover-me-anymore) Answered on October 22, 2014 My husband & I both work full time & we have one child. We have my husband’s family plan…

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Chapter 13/mortgage refinancing (https://www.terrysavage.com/askterry/chapter-13mortgage-refinancing) Answered on October 22, 2014 Dear Terry, April of next year we will have completed a chapter 13… We have a 30 year ARM mortgage…

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401K and Roth IRA? (https://www.terrysavage.com/ask-terry/401kand-roth-ira) Answered on October 22, 2014 Hi Terry, I am over 50 and have already hit my max + catch up contribution of $23,000 for 2014. Are…

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Credit Card Debt Reduction (https://www.terrysavage.com/askterry/credit-card-debt-reduction) Answered on October 22, 2014 Hello Ms. Savage, First, I really enjoy your segments on WGN Radio. I have approx. 50K in credit…

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How are we doing for savings and retirement with 2 children (https://www.terrysavage.com/ask-terry/how-are-we-doing-for-savingsand-retirement-with-2-children) Answered on October 21, 2014 Dear Terry My wife and I both work and have 2 children ages 9 and 6. We make about $165K year We…

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401K Investments in European Stocks (https://www.terrysavage.com/ask-terry/401k-investments-in-europeanstocks) Answered on October 21, 2014 Hello Terry, I am thinking of transfering out of my Fidelity Euro-Pacific fund into another Us based…

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Long Term Care, retiring at 61 (https://www.terrysavage.com/askterry/long-term-care-retiring-at-61) Answered on October 20, 2014 Terry I’m a retired teacher 61 Still have a mortgage Wondering about long term care The pros and…

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Planning for retirement withdrawals (https://www.terrysavage.com/askterry/planning-for-retirement-withdrawals) Answered on October 17, 2014 I am 62 years old and up to now, I have $35K solely in the Fidelity Freedom Fund 2025 because I am…

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credit card for college age daughter with no credit history (https://www.terrysavage.com/ask-terry/credit-card-for-college-agedaughter-with-no-credit-history) Answered on October 17, 2014 How can my college age daughter who really has no credit history…(.she currently works very part…

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Retiring with Paid-off Mortgage? (https://www.terrysavage.com/askterry/retiring-with-paid-off-mortgage) Answered on October 17, 2014 My financial advisor tells me my retirement is “bullet proof” with three years income in cash, a…

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Savings for an elderly person (https://www.terrysavage.com/askterry/savings-for-an-elderly-person) Answered on October 17, 2014 My Mother-in-Law (87 years old) is in an assisted living facility, costing approximately $5,000 per…

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MWP and ETFs (https://www.terrysavage.com/ask-terry/mwp-andetfs) Answered on October 11, 2014 What do you think about investing into an MWP and what do you think about ETFs?

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How to get your Personal Financial Organizer? (https://www.terrysavage.com/ask-terry/how-to-get-your-personalfinancial-organizer) Answered on October 11, 2014 How do I find that link to print out the form ?

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using IRA to buy primary residence (https://www.terrysavage.com/askterry/using-ira-to-buy-primary-residence) Answered on October 11, 2014 Hi Terry…I am 67 yrs. old and retired. I want to sell my old house and use money from my IRA to…

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Living trusts and out-of-state rental property (https://www.terrysavage.com/ask-terry/living-trusts-and-out-of-staterental-property) Answered on October 11, 2014 Can California real estate condos be covered by Living Trust prepared by Illinois lawyer for…

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September 2014 Questions & Answers By Terry Savage What happened to Manilla? (https://www.terrysavage.com/askterry/what-happened-to-manilla) Answered on September 24, 2014 A few years ago you recommend a website for paperless billing. I think it was name “manilla”. If you…

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Social security taxes on Roth conversion (https://www.terrysavage.com/ask-terry/social-security-taxes-on-rothconversion) Answered on September 24, 2014 Terry , I started taking Social Security before I had reached my full retirement age. Last year I…

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Additional life insurance needed? (https://www.terrysavage.com/askterry/additional-life-insurance-needed) Answered on September 24, 2014 Hi, my husband retired recently from his job at AT&T with basic life insurance of $50K. I have…

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financial planning for divorced mom of 7 (https://www.terrysavage.com/ask-terry/financial-planning-for-divorcedmom-of-7) Answered on September 24, 2014 As a recently divorced single mother of 7 young children with my oldest child having special needs…

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vanguard target retirement fund (https://www.terrysavage.com/askterry/vanguard-target-retirement-fund) Answered on September 22, 2014 Is this a safe fund to be invested in at this time? I have 95% of my savings invested in this fund ,…

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Long term care insurance; 5 yr. call back (https://www.terrysavage.com/ask-terry/long-term-care-insurance-5-yrcall-back) Answered on September 22, 2014 1. If we have assets of $500,000., do we really need long care insurance? We are both 73 years old.

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Qualified Longevity Annuity Contract (QLAC) (https://www.terrysavage.com/ask-terry/qualified-longevity-annuitycontract-qlac) Answered on September 22, 2014 Hello Terry, please respond to The subject in regards to NO RMD after a certain age is reached (ie.

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SAFETY OF CASH IN BANK ACCOUNTS (https://www.terrysavage.com/ask-terry/safety-of-cash-in-bankaccounts) Answered on September 22, 2014 Upon hearing that bank accounts had been hacked in several prominent banks, I took some of my cash…

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23 year old daughter’s 1st financial investment (https://www.terrysavage.com/ask-terry/23-year-old-daughters-1stfinancial-investment) Answered on September 22, 2014 Hi Terry, I attended your AARP presentation last week in Schaumburg. GREAT JOB!! We have a 23 year…

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distributions from an old 401k plan at age 55 (https://www.terrysavage.com/ask-terry/distributions-from-an-old-401kplan-at-age-55) Answered on September 20, 2014 I have a 401k plan from a previous employer; I left employment in my 40s to become a stay-at-home…

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Finding An Adviser For A Low Maintenance Investor (https://www.terrysavage.com/ask-terry/finding-an-adviser-for-a-lowmaintenance-investor) Answered on September 20, 2014 Hi Terry: OK, I’ll admit it; I’m a DIY (Do It Yourself) investor; yes, one of THOSE that draws the…

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Sold my condo, worried about money/investing (https://www.terrysavage.com/ask-terry/sold-my-condo-worried-aboutmoneyinvesting) Answered on September 20, 2014 I recently sold my condo and moved into an apartment. I was told by a financial planner that rent…

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Roth IRA — where? (https://www.terrysavage.com/ask-terry/roth-irawhere) Answered on September 17, 2014 I opened a Roth IRA at my bank about one and a half months ago. It’s only $3,000. My sister says I…

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Reinvest money and credit monitoring services (https://www.terrysavage.com/ask-terry/reinvest-money-and-creditmonitoring-services) Answered on September 16, 2014 I just had a cd come due and need to reinvest it. We take the interest to assist in bill payments.

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Capital Gains (https://www.terrysavage.com/ask-terry/capital-gains) Answered on September 15, 2014

I have a rental home in California we bought in 1986 for $100,000 and can sell for around $360,000.

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Will reits go away anytime soon? (https://www.terrysavage.com/askterry/will-reits-go-away-anytime-soon) Answered on September 15, 2014 Will reits go away anytime soon? And if so, why? Thank you.

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changing funds (https://www.terrysavage.com/ask-terry/changingfunds) Answered on September 14, 2014 Hi Terry, I began investing in four actively managed mutual funds in 1994. I dollar cost averaged…

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children savings (https://www.terrysavage.com/ask-terry/childrensavings) Answered on September 14, 2014 I heard you speak one time of a teaching piggy bank for kids with separate slots for saving,…

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Retirement with mortgage, and home upgrades? (https://www.terrysavage.com/ask-terry/retirement-with-mortgage-andhome-upgrades) Answered on September 14, 2014 I am over 60 and ready to retire. I have a 150,000 mortgage and 250,000 in a 401(k). I am not quite…

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advice for someone already 65. (https://www.terrysavage.com/askterry/advice-for-someone-already-65) Answered on September 12, 2014 Hi Terry A lot of inquiries are how much should I save, 401K or Roth, etc. What if you are already…

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monetary gift for tax purposes (https://www.terrysavage.com/askterry/monetary-gift-for-tax-purposes) Answered on September 12, 2014 Terry, My wife was born and raised in the Philippines and virtually all her family still lives there…

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Best source for reverse mortgages (https://www.terrysavage.com/askterry/best-source-for-reverse-mortgages) Answered on September 12, 2014 best source for reverse mortgages…

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safe financial instrument that pays 3% (https://www.terrysavage.com/ask-terry/safe-financial-instrument-thatpays-3) Answered on September 12, 2014 Is there a fairly safe financial product that can earn 3% a year? I’m retired and would like to put…

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Retire at 55 – can you tap into 401k savings without penalty at age 55 (https://www.terrysavage.com/ask-terry/retire-at-55-can-you-tap-into401k-savings-without-penalty-at-age-55) Answered on September 2, 2014 Is it allowable to take 401k savings after age 55 without withdrawal penalties ?

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August 2014 Questions & Answers By Terry Savage Freeze my credit report to avoid identity theft? (https://www.terrysavage.com/ask-terry/freeze-my-credit-report-toavoid-identity-theft) Answered on August 31, 2014 Dear Terry, Lately it seems that hackers can get into the computer systems of any merchant or…

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College Illinois prepaid tuition program (https://www.terrysavage.com/ask-terry/college-illinois-prepaid-tuitionprogram-2) Answered on August 31, 2014 We have paid for the college Illinois plan in full Our child is within 7 years of entering college.

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LTC insurance (https://www.terrysavage.com/ask-terry/ltc-insurance-2) Answered on August 29, 2014

Terry, I understand LTC is an important part of financial planning. My children are 38, 34, and 30,…

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Gold/Silver IRA’s (https://www.terrysavage.com/ask-terry/goldsilveriras) Answered on August 27, 2014 What are your thoughts about Gold / Silver IRA’s (i.e. physical gold and silver)? I’m considering…

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Broker CD’s (https://www.terrysavage.com/ask-terry/broker-cds) Answered on August 27, 2014

Hi, What do you think about brokered cd’s? What should one know about them or be aware of? I see…

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Vanguard Mutual funds, Berkshire Hathaway, and T Rowe Price (https://www.terrysavage.com/ask-terry/vanguard-mutual-fundsberkshire-hathaway-and-t-rowe-price) Answered on August 26, 2014 What are your thoughts in putting money into any of the above funds? Advantages/disadvantages?

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We’ve reached our number, now what? (https://www.terrysavage.com/ask-terry/weve-reached-our-numbernow-what) Answered on August 26, 2014 Hi Terry, all these years listening to your words and I finally have a question! Beth and I have 2…

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BitCoin (https://www.terrysavage.com/ask-terry/bitcoin) Answered on August 24, 2014

How do you feel about using bitcoin as an alternative to gold or commodities?

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Long term care insurance (https://www.terrysavage.com/ask-terry/longterm-care-insurance-3) Answered on August 23, 2014 After reading several articles you wrote suggesting long term care insurance, my wife and I…

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Money in CD need to reinvest afer retirement (https://www.terrysavage.com/ask-terry/money-in-cd-need-to-reinvestafer-retirement) Answered on August 22, 2014 We have a great amount of money in a CD, my husband will be retiring next Dec 2015. Where is the…

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Investment for retirement (https://www.terrysavage.com/askterry/investment-for-retirement) Answered on August 22, 2014 Is it correct to invest all retirement money (IRA and 403B) in a Fixed Index Annuities at the age of…

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Annuities (https://www.terrysavage.com/ask-terry/annuities) Answered on August 21, 2014

What is the difference between a fixed index and a variable index annuity? Advantages/disadvantages?

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Non-IRA annuity used to pay off home equity loan (https://www.terrysavage.com/ask-terry/non-ira-annuity-used-to-payoff-home-equity-loan) Answered on August 21, 2014 Have home equity loan balance of approx. $67,000. Paying 2.99% interest on loan. Have 3 Roth IRA’s…

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Upside Down Mortgage Refi (https://www.terrysavage.com/askterry/upside-down-mortgage-refi) Answered on August 21, 2014 Any suggestions for assistance on refi of upside down mortgage with a revolving loan at 14.49%.

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Financial Planning for College, Money in Children’s savings acct? (https://www.terrysavage.com/ask-terry/financial-planning-for-collegemoney-in-childrens-savings-acct) Answered on August 20, 2014

All my kids have savings accounts, but as you know they earn nothing. I was thinking of closing the…

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IRA and 401k accounts related to RMD (https://www.terrysavage.com/ask-terry/ira-and-401k-accounts-relatedto-rmd) Answered on August 19, 2014 Between retirement at 66 and the RMD at 70.5, should I be takeing money out and placing it in…

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Debt Management Group (https://www.terrysavage.com/askterry/debt-management-group) Answered on August 17, 2014 I have 40,000 in credit debt and want to use Debt Management Group from New York, are they…

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Should spouses move retirement plans to same investment adviser? (https://www.terrysavage.com/ask-terry/should-spouses-moveretirement-plans-to-same-investment-adviser) Answered on August 17, 2014 Hi, Terry. Didn’t have a chance to ask this when you were at GSU this week. My wife and I are both…

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TIP Fund Investments As Protection from Rising Future Rising Interest Rates (https://www.terrysavage.com/ask-terry/tip-fund-investments-asprotection-from-rising-future-rising-interest-rates) Answered on August 17, 2014 Terry, at my age 67 yrs I have a significant portfolio to live on in retirement years. My situation…

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Any Opinion on QLAC’s (Qualified Longivity Annuity Contracts) (https://www.terrysavage.com/ask-terry/any-opinion-on-qlacs-qualifiedlongivity-annuity-contracts) Answered on August 17, 2014 The US government is concerned about retirees outliving their retirement funds. The IRS recently…

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Condo vs. returning to family home (https://www.terrysavage.com/askterry/condo-vs-returning-to-family-home) Answered on August 16, 2014 Currently my mortgage and assessment exceed 60% of my income. Would it be wise to sell the condo and…

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Retirement – Rent or Buy? (https://www.terrysavage.com/askterry/retirement-rent-or-buy) Answered on August 15, 2014 Upon retirement I’ll be receiving approximately 70k per year (401k, pension plan, social security),…

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Lending money to mother-in-law: loan or gift? (https://www.terrysavage.com/ask-terry/lending-money-to-mother-inlaw-loan-or-gift) Answered on August 15, 2014 My husband helped my mother by giving her $1,500.00 per month for the last 9 years. We had a binding…

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pay off all credit debt with loan from my 457plan to help daughter (https://www.terrysavage.com/ask-terry/pay-off-all-credit-debt-withloan-from-my-457plan-to-help-daughter) Answered on August 15, 2014 Hi Terry:Love you–btw- I am in a dilemma- frugal but not with my daughter now 19– private school…

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Best student loans and not the greatest credit (https://www.terrysavage.com/ask-terry/best-student-loans-and-notthe-greatest-credit) Answered on August 14, 2014 We had a business that failed, so I don’t have the best credit. I’m returning to school and will…

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Everbank and Europacific (https://www.terrysavage.com/askterry/everbank-and-europacific) Answered on August 13, 2014 In the past I believe you had a positive attitude towards Everbank. Is that still the case? Also -…

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Health Savings Account (https://www.terrysavage.com/askterry/health-savings-account) Answered on August 13, 2014 We have a H S A account that we are contributing to each month. We also contribute to our 401K’s. We…

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Fixed index annuity (https://www.terrysavage.com/ask-terry/fixedindex-annuity) Answered on August 12, 2014 Your thoughts on fixed index annuity.

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Variable Annunity Investing (https://www.terrysavage.com/askterry/variable-annunity-investing) Answered on August 12, 2014 I have a Variable Annunity through Met Life. It invests my money a series of Variable Funding…

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REFINANCING small mortgage balance (https://www.terrysavage.com/ask-terry/refinancing-small-mortgagebalance) Answered on August 10, 2014 Hi Terry, Is there any option,or can you suggest a strategy when the mortgage owed amount is only…

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Credit card after bankruptcy (https://www.terrysavage.com/askterry/credit-card-after-bankruptcy) Answered on August 10, 2014 Can you recommend a good credit card following a bankruptcy? Is it possible to get an unsecured…

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How to use 40l(k) for assisted living (https://www.terrysavage.com/askterry/how-to-use-40lk-for-assisted-living) Answered on August 10, 2014 I am 82 and need my 401k for an assisted living place how much will i be taxed…

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Executor of Will (https://www.terrysavage.com/ask-terry/executor-ofwill) Answered on August 8, 2014 Now that my son is 21 years old (he’ll be 22 in January 2015), does it make sense to make him…

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July 2014 Questions & Answers By Terry Savage Senior Citizen Assessment Freeze Exemption (https://www.terrysavage.com/ask-terry/senior-citizen-assessmentfreeze-exemption) Answered on July 26, 2014 My mother is 80 years old and has owned and occupied her home for 41 years. Twice we have applied…

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Retirement Replacement Income (https://www.terrysavage.com/askterry/retirement-replacement-income) Answered on July 26, 2014 I have read a lot of articles about needing 70 – 80% of your highest yearly income to live…

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spending tracker (https://www.terrysavage.com/ask-terry/spendingtracker) Answered on July 26, 2014 I’m sure you mentioned this before but can’t find it. I’m looking for a good tracker for expenses,…

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Term Life insurance at age 65 (https://www.terrysavage.com/askterry/term-life-insurance-at-age-65) Answered on July 22, 2014 Hi, Terry. I enjoy and learn from your column and your visits to WGN Morning News. I will be 65 in a…

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Reissuing EE Bonds – Taxable Event? (https://www.terrysavage.com/ask-terry/reissuing-ee-bonds-taxableevent) Answered on July 22, 2014 I have EE bonds that are in my name with my mother listed as co-owner. K gold “or “Z gold. I saw…

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Picking a fee-based financial advisor (https://www.terrysavage.com/ask-terry/picking-a-fee-based-financialadvisor) Answered on July 21, 2014 Please help. I would like to hire a fee based financial adviser but have no idea how to go about it.

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Long Term Care Insurance – John Hancock (https://www.terrysavage.com/ask-terry/long-term-care-insurance-johnhancock) Answered on July 21, 2014 I purchased a LTC policy at the age of 42 when I was working at Hewlett-Packard. When I signed up, I…

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Bet performing mutual funds? (https://www.terrysavage.com/askterry/bet-performing-mutual-funds) Answered on July 19, 2014 What are the best performing mutual funds today?

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Paying Down Mortgage before Retirement (https://www.terrysavage.com/ask-terry/paying-down-mortgage-beforeretirement) Answered on July 19, 2014 We have approx. 160,000 left on our mortgage, we have about 600,000 in investments. My wife and I…

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Free credit report? (https://www.terrysavage.com/ask-terry/free-creditreport) Answered on July 19, 2014 Can I obtain a free credit report?

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Accessing retirement funds for liquid assests… (https://www.terrysavage.com/ask-terry/accessing-retirement-fundsfor-liquid-assests) Answered on July 15, 2014 I work full-time, but have to dip into savings to make ends meet to the point where my savings are…

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Underwater mortgage (https://www.terrysavage.com/askterry/underwater-mortgage) Answered on July 15, 2014 I owe $40,000 more than my home is worth. I do not qualify for harp as my mortgage is not owned by…

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adjustable or fixed rate student loan (https://www.terrysavage.com/askterry/adjustable-or-fixed-rate-student-loan) Answered on July 14, 2014 Hi Terry, Our oldest child is going to be a sophomore in college. He attends a highlyselective…

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Converting Gains to Chicken Money? (https://www.terrysavage.com/ask-terry/converting-gains-to-chickenmoney) Answered on July 12, 2014 I am a 63 year old, single male, retired in 2008, relatively good health. I have used up all my…

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Getting the 40l(k) match on S-Cap (https://www.terrysavage.com/askterry/getting-the-40lk-match-on-s-cap) Answered on July 12, 2014 how much should I contribute to my S-Cap (40l(k) to maximize CNA’s matching contributions?

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joint tenancy in an unmarried situation (https://www.terrysavage.com/ask-terry/joint-tenancy-in-an-unmarriedsituation) Answered on July 12, 2014 I live in a new townhome for the last 9 years with my boyfriend…our intentions were to marry and…

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Cook County Taxes on late father’s house (https://www.terrysavage.com/ask-terry/cook-county-taxes-on-latefathers-house) Answered on July 7, 2014 Hi Terry, I have been searching the Cook County website for this question and did not find anything.

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Defaulting on CollegeIllinois payments. (https://www.terrysavage.com/ask-terry/defaulting-on-collegeillinoispayments) Answered on July 7, 2014 I just quit my job and can no longer make CollegeIllinois! payments. How do I get out of the…

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401k for daughter’s wedding? (https://www.terrysavage.com/askterry/401k-2) Answered on July 7, 2014 Let me preface this by saying that this is not my primary retirement fund. This fund is something…

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A Sad Story ForUS Savings Bonds (https://www.terrysavage.com/askterry/a-sad-story-forus-savings-bonds) Answered on July 7, 2014 On the web site TreasuryDirect.gov, I was unable to find reference to the penalty for not reporting…

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Cook county real estate tax exemptions (https://www.terrysavage.com/ask-terry/cook-county-real-estate-taxexemptions) Answered on July 7, 2014 My mother age 70 is now living in my condo. She cant afford rent elsewhere, so i cannot sell this…

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June 2014 Questions & Answers By Terry Savage chicken money (https://www.terrysavage.com/ask-terry/chickenmoney) Answered on June 24, 2014 how to invest $167,000 in cash – no pension – we have 500K in stocks and securities.

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Mom’s investments (https://www.terrysavage.com/ask-terry/momsinvestments) Answered on June 24, 2014 My mom is 82. We just moved her to assisted living. She has some memory loss and we myself an 2…

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retirement and roth (https://www.terrysavage.com/ask-terry/retirementand-roth) Answered on June 19, 2014 Terry, I am almost 58 and am planning to retire with full retirement from that as a Nurse from…

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student loan responsibility: parent or student? (https://www.terrysavage.com/ask-terry/student-loan-responsibilityparent-or-student) Answered on June 17, 2014 Terry, whose responsibility should it be, the parent or the student, when repaying parent plus…

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Dilemma over withdrawing from (excellent) 401K or taking Social Security early (https://www.terrysavage.com/ask-terry/dilemma-overwithdrawing-from-excellent-401k-or-taking-social-security-early) Answered on June 17, 2014

I’m 62 and have enough money to live on for about another year before I have to start taking money…

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Student loan (https://www.terrysavage.com/ask-terry/student-loan) Answered on June 17, 2014

What was the link you mentioned on WGN for student loan forgiveness? Thank You…

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Roth or traditional retirement accoiunt (https://www.terrysavage.com/ask-terry/roth-or-traditional-retirementaccoiunt) Answered on June 17, 2014 I currently have a retirement account with American Funds, and manage it myself. I keep this account…

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Roth IRA Account after age 70-1/2 (https://www.terrysavage.com/askterry/roth-ira-account-after-age-70-12) Answered on June 17, 2014 Can I continue to contribute to after reaching 70 1/2 years old?

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Where is the Link to your Organizer form? (https://www.terrysavage.com/ask-terry/where-is-the-link-to-yourorganizer-form) Answered on June 15, 2014 MAY I HAVE A COPY OF THE PERSONAL FINANCIAL FORM, AS DISCUSSED ON WINDY CITY LIVE.

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Wisconsin property gifted by parents, shared with sister (https://www.terrysavage.com/ask-terry/wisconsin-property-gifted-byparents-shared-with-sister) Answered on June 15, 2014 Terry, Do you suggest having living trust done for my 1/2 of Wisconsin property that my sister and I…

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What short term investment (six months) makes sense for $50,000 in cash? (https://www.terrysavage.com/ask-terry/what-short-terminvestment-six-months-makes-sense-for-50000-in-cash) Answered on June 15, 2014

I have some cash to invest until I buy a house next year, not earning anything at the bank. Do you…

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credit score (https://www.terrysavage.com/ask-terry/credit-score) Answered on June 15, 2014

What is a website where you can truly get a free credit score-no joining any programs.

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Timeshares (https://www.terrysavage.com/ask-terry/timeshares) Answered on June 5, 2014

Thank you for taking the time to read this. Seeking information/advice for a reputable, secure &…

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Bond Investments (https://www.terrysavage.com/ask-terry/bondinvestments) Answered on June 5, 2014 Terry, currently do you think bond funds are a bad investment, considering the propects of ending…

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pensions and social security (https://www.terrysavage.com/askterry/pensions-and-social-security) Answered on June 4, 2014 Terry, I am currently receiving monthly pension from job I retired from with AT&T after 30 years…

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Chicago Pension Reform (https://www.terrysavage.com/askterry/chicago-pension-reform) Answered on June 4, 2014 Dear Terry, as you may know Gov. Quinn has until 6/9 to sign pension reform for part of Chicago’s…

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EE bonds & Fed. income tax (https://www.terrysavage.com/askterry/ee-bonds-fed-income-tax) Answered on June 4, 2014 EE bonds purchased 10/1986 will mature 2016. they are face $1000. I plan to cash 4 more this yr (…

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May 2014 Questions & Answers By Terry Savage US House Bill HR 2847 (https://www.terrysavage.com/ask-terry/ushouse-bill-hr-2847) Answered on May 30, 2014 What are your thoughts about this bill ?

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Savings bond interest MUST be reported in year of final maturity!! (https://www.terrysavage.com/ask-terry/savings-bond-interest-must-bereported-in-year-of-final-maturity) Answered on May 29, 2014 Hi Terry In regards to the maturity and taxable interest. NO tax until you cash them in in other…

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Roth IRA witdrawals penalized? Wrong advice from CPA? (https://www.terrysavage.com/ask-terry/roth-ira-witdrawals-penalizedwrong-advice-from-cpa) Answered on May 28, 2014 Dear Terry, You may not remember me, but several years back I had the privilege of meeting you and…

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put money into 403B (pre-tax) or pay down mortgage (https://www.terrysavage.com/ask-terry/put-money-into-403b-pre-taxor-pay-down-mortgage) Answered on May 28, 2014 I am 69 years old and although I have no plans to retire in the the next few years, I do want to be…

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universal life insurance (https://www.terrysavage.com/askterry/universal-life-insurance) Answered on May 27, 2014 We have a universal life insurance policy (my husband & I) and keep getting letters from the…

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divorce (https://www.terrysavage.com/ask-terry/divorce) Answered on May 26, 2014

My question is soon I will be divorce from my spouse of 17 years we have been separated for 3 years…

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investment advice for recently widowed 53 year old mother (https://www.terrysavage.com/ask-terry/investment-advice-for-recentlywidowed-53-year-old-mother) Answered on May 26, 2014 Received approx. 450,000.00 life insur.benefit and need advice on best way to allocate in financial…

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rothira (https://www.terrysavage.com/ask-terry/rothira) Answered on May 26, 2014

am 50 whats best place to open roth ira and how do I manage it without being directly involved.

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Personal finance organization after Manilla? (https://www.terrysavage.com/ask-terry/personal-finance-organization) Answered on May 20, 2014

What electronic bill paying and organization system would you recommend? You once recommended…

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Internet security question on credit access (https://www.terrysavage.com/ask-terry/internet-security-question-oncredit-access) Answered on May 18, 2014 Terry: My elderly in-laws (88 and 89 years old) are in the process of moving out of their home and…

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Real estate taxes too high- -can I object? (https://www.terrysavage.com/ask-terry/real-estate-taxes-too-high-cani-object) Answered on May 18, 2014 Hi Terry, I own two houses in Franklin Park IL. One is a typical ranch style type which is very…

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Financial record keeping Mint or Quicken? (https://www.terrysavage.com/ask-terry/financial-record-keeping-mintor-quicken) Answered on May 18, 2014 What are your thoughts on mint.com? Do you recommend it?

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Confiscation of our retirement savings? (https://www.terrysavage.com/ask-terry/confiscation-of-our-retirementsavings) Answered on May 18, 2014 Dear Ms. Savage: Thank you for the financial organizer. My wife & I do have an intervivos trust,…

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IRAs for non-working spouse? (https://www.terrysavage.com/askterry/iras-for-non-working-spouse) Answered on May 18, 2014 Are there any IRA Roth or regular options for a stay at home mom with a working husband? My daughter…

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College Illinois follow up (https://www.terrysavage.com/askterry/college-illinois-follow-up) Answered on May 17, 2014 Some people are telling me to pull the money out of college Illinois and put it into college savings…

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retirement — enough? (https://www.terrysavage.com/askterry/retirement-enough) Answered on May 17, 2014 I have $4.8 million that Fidelity handles for me. I am 67 years old and so is my wife and i just…

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Buying 2 Condos for investment (https://www.terrysavage.com/askterry/buying-2-condos-for-investment) Answered on May 12, 2014 How to buy 2 condos for investment in my IRA account, How to use IRA funds to purchase /pAY FOR…

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What to do when Series EE US Savings Bonds mature (https://www.terrysavage.com/ask-terry/what-to-do-when-series-ee-ussavings-bonds-mature) Answered on May 12, 2014 Back in 1986, based on your advice, we purchased Series EE US Savings Bonds. They are still earning…

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change of beneficiary/ EE bonds (https://www.terrysavage.com/askterry/change-of-beneficiary-ee-bonds) Answered on May 12, 2014 i have several EE bonds purchased ib feb’92 and wish to change beneficiary; current beneficiary has…

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wills (https://www.terrysavage.com/ask-terry/wills) Answered on May 10, 2014 I need advice about preparing my will? I have very few heirs…no husband and no children… but I…

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10-Year Call Notice on 30-year refinance (https://www.terrysavage.com/ask-terry/10-year-call-notice-on-30-yearrefinance) Answered on May 10, 2014 In December 2012, my application for a 30-year, 3.125% home loan at Lisle Savings Bank was accepted.

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Bankruptcy (https://www.terrysavage.com/ask-terry/bankruptcy) Answered on May 9, 2014

I am underwater in financial debt and am thinking about filing bankruptcy. However, I own another…

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Mutual Funds to Annuities for income? (https://www.terrysavage.com/ask-terry/mutual-funds-to-annuities-forincome) Answered on May 9, 2014 I have 1 million in the market as Mutual Funds, I use Edward Jones. I plan to retire soon, should I…

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ee bonds (https://www.terrysavage.com/ask-terry/ee-bonds-2) Answered on May 8, 2014

my mom has an ee bond with her as the owner and i am the beneficiary. i want my name deleted as the…

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How do I get Your Organizer form? (https://www.terrysavage.com/askterry/how-do-i-get-your-organizer-form) Answered on May 8, 2014 I watched you on tv the other day and when i signed up i dont know were to go to get the Organizer…

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IRA investing (https://www.terrysavage.com/ask-terry/ira-investing) Answered on May 7, 2014

What would you do with Ira funds? I have a reg. invst. adviser now. I’m a senior with no time to…

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Making money from scratch (https://www.terrysavage.com/askterry/making-money-from-scratch) Answered on May 7, 2014 Hey Terry, How’s it going? I hope all is well. I have four questions for you, are there any laws to…

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Paying mortgage off early (https://www.terrysavage.com/askterry/paying-mortgage-off-early) Answered on May 7, 2014 I’m 55 years old I want to pay my mortgage off by age 60. My mortgage company’s aids I have to send…

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Organizer (https://www.terrysavage.com/ask-terry/organizer) Answered on May 7, 2014

How do I get your organizer?

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medicare (https://www.terrysavage.com/ask-terry/medicare) Answered on May 6, 2014

What is best for me when I turn 65 soon? Should I join a medicare advantage plan or regular…

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Mortgages (https://www.terrysavage.com/ask-terry/mortgages) Answered on May 5, 2014

What is the waiting period for getting a mortgage after you have done a short sale? Thank you.

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401-K Rollover (https://www.terrysavage.com/ask-terry/401-k-rollover) Answered on May 5, 2014

I need to do a 401-K rollover because I am no longer with my employer of 18 years. Is Sharebuilder a…

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ESTATE PLANNING WITH 2ND MARRIAGE & STEPCHILDREN (https://www.terrysavage.com/ask-terry/estate-planning-with-2ndmarriage-stepchildren) Answered on May 5, 2014 I am working on my own Living Trust. I need help & advice on how to deal with stepchildren on…

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Debt settlement, student loans, help! (https://www.terrysavage.com/ask-terry/debt-settlement-student-loanshelp) Answered on May 5, 2014 Hello Ms. Savage, I am 46 and am moving back in with my father (at his suggestion). The rent for my…

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April 2014 Questions & Answers By Terry Savage Investing (https://www.terrysavage.com/ask-terry/investing) Answered on April 30, 2014

Do you invest for the public?

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Your Financial Organizer? (https://www.terrysavage.com/askterry/your-financial-organizer) Answered on April 30, 2014 where on your web site can I click to get your financial organizer form?

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Tradional IRA investment in CD (https://www.terrysavage.com/askterry/tradional-ira-investment-in-cd) Answered on April 30, 2014 Hi Terry, I wanted to ask if you believe that leaving an IRA in a liquid Internet acct. @ .95% is a…

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Student loans (https://www.terrysavage.com/ask-terry/student-loans) Answered on April 29, 2014

HI Terry! I have been watching you on WGN in Chicago a few times and I love your advice. My husband…

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Student loan consolidation (https://www.terrysavage.com/askterry/student-loan-consolidation) Answered on April 29, 2014 My daughter is trying to consolidate her $40,000 is student loans. Any advice?

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401K rollover limitations? (https://www.terrysavage.com/askterry/401k-rollover-limitations) Answered on April 28, 2014 I heard that you may only rollover 1 401K account per calendar year, or pay taxes on any additional.

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Thrift Shop (https://www.terrysavage.com/ask-terry/thrift-shop) Answered on April 27, 2014

Hi Terry,would you happen to know as to whether the Job Centre would help finance me to open a…

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Annuities for retirees? (https://www.terrysavage.com/askterry/annuities-for-retirees) Answered on April 26, 2014 I’m 68, wife is 65. Wife will soon retire from Chase and get a lump sum $95,000. Chase is…

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529 plans — Bright Start? (https://www.terrysavage.com/ask-terry/529plans) Answered on April 24, 2014 I read your 2013 piece not recommending Bright Start. Do you still agree with this? I am looking at…

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My wife and I disagree about when to take Social Security! (https://www.terrysavage.com/ask-terry/401k-withdrawals-vsfixedvariable-annuities) Answered on April 24, 2014 I am 62 years of age and working part-time plus have been receiving pension after retiring from my…

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On-line banks offering “higher” rates? (https://www.terrysavage.com/ask-terry/on-line-banks-offering-higherrates) Answered on April 24, 2014 What is your opinion of these on-line high-yield savings accounts advertised by AAA, Ing and Ally,…

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Article on LTC using combo products (https://www.terrysavage.com/ask-terry/from-march-of-2012) Answered on April 24, 2014

You had an article titled: “How to control the price risks of Long Term Care Insurance policies…

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Financial advisors (https://www.terrysavage.com/ask-terry/financialadvisors-2) Answered on April 24, 2014 Hi Terry: Love your books; full of good information provided in a straight forward &…

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Buying Home despite IRS payment plan (https://www.terrysavage.com/ask-terry/buying-home-despite-irspayment-plan) Answered on April 24, 2014 We are on a payment plan with the IRS, will that stop us from buying a home?I was already approved…

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What questions to ask when rolling over a 401k (https://www.terrysavage.com/ask-terry/what-questions-to-ask-whenrolling-over-a-401k) Answered on April 24, 2014 Hi Terry, I would like to roll over an old 401k into an IRA and wanted to know what questions I…

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College Illinois prepaid tuition program (https://www.terrysavage.com/ask-terry/college-illinois-prepaid-tuitionprogram) Answered on April 24, 2014 My daughter is 11 years old. I started the program at age one. We have just about paid the full…

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Mandatory IRA Distribution at 70 1/2 (https://www.terrysavage.com/ask-terry/mandatory-ira-distribution-at70-12) Answered on April 6, 2014 My husband will be required to take a mandatory IRA distribution before the April he turns 70 1/2,…

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Divorcing, inheritance, buying a home? (https://www.terrysavage.com/ask-terry/divorcing-inheritance-buying-ahome) Answered on April 6, 2014 Terry, my father recently passed away and left me a small inheritance (about $22,000 total), which I…

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Savings — where? (https://www.terrysavage.com/ask-terry/savingswhere) Answered on April 3, 2014 Hi Terry, My husband has been out of work since February 2012. I’m currently working and we have two…

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Convert 401k to IRA (https://www.terrysavage.com/ask-terry/convert401k-to-ira) Answered on April 3, 2014 Terry, I wanted to take a portion of my 401k (from past job) and transfer to an IRA. I learned that…

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Annunity at 8% guaranteed? (https://www.terrysavage.com/askterry/annunity-at-8-guaranteed) Answered on April 3, 2014 Terry: What do you think of the senior annunity that gurantees 8%?

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saving for college (https://www.terrysavage.com/ask-terry/saving-forcollege) Answered on April 3, 2014 what is the best plans for saving for college.

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March 2014 Questions & Answers By Terry Savage Settlements and fines (https://www.terrysavage.com/askterry/settlements-and-fines) Answered on March 30, 2014 I’ve always wondered where the money goes after the government wins a case against a company and the…

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tax consequences of an ira withdrawl for a down payment on investment property (https://www.terrysavage.com/ask-terry/taxconsequences-of-an-ira-withdrawl-for-a-down-payment-on-investmentproperty) Answered on March 30, 2014 Terry, I am turning 70. My wife and I still work, and own our home. We would like to buy a condo in…

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Traditional IRA (https://www.terrysavage.com/ask-terry/traditional-ira) Answered on March 29, 2014

Hello Terry, Today I saw that the GE Capital Retail Bank is offering the following… the GECRB IRA…

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home sale proceeds (https://www.terrysavage.com/ask-terry/homesale-proceeds) Answered on March 29, 2014 Hi Terry, we are in the process of selling our home of 38 yrs and moving to Florida, we’ve already…

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Bright Start – Opeenheimer (https://www.terrysavage.com/askterry/bright-start-opeenheimer) Answered on March 26, 2014 Hi terry: Question: In the past there was concern over Bright Start Illinois performance etc Is this…

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targeted retirement funds (https://www.terrysavage.com/askterry/targeted-retirement-funds) Answered on March 23, 2014 Terry, I would like your opinion on targeted retirement funds. I am currently in the T.Rowe Price…

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Index Based CD’s (https://www.terrysavage.com/ask-terry/indexbased-cds) Answered on March 23, 2014 Hi Terry, I will be retiring soon and won’t need the money form my 457 account for several years.

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Temp health and dental insurance (https://www.terrysavage.com/askterry/temp-health-and-dental-insurance) Answered on March 23, 2014 Terry, my twin sons will turn 26 soon. They are both searching for jobs. What is a good source for…

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College savings (https://www.terrysavage.com/ask-terry/collegesavings) Answered on March 19, 2014 Hi Terry, I’m looking for good websites to understand and review options for saving for college.

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First Roth IRA for my children (https://www.terrysavage.com/askterry/first-roth-ira-for-my-children) Answered on March 19, 2014 My kids, 21 and 18, worked over the summer and want to put $5500 and $2900 respectively in Roth…

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Cashing in savings bonds for dependent childs College Tution (https://www.terrysavage.com/ask-terry/cashing-in-savings-bonds-fordependent-childs-college-tution) Answered on March 17, 2014 Is the interest tax exempt I am seeing conflicting statements regarding this. Also removed money…

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Saving after 60 (https://www.terrysavage.com/ask-terry/saving-after60) Answered on March 17, 2014 As a result of the lack of respect for money and its stewardship, I have nothing saved. There are,…

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Investing in a Perspective 11 Fixed or Variable Annuity (https://www.terrysavage.com/ask-terry/investing-in-a-perspective-11fixed-or-variable-annuity) Answered on March 15, 2014 My wife and I met with a certified financial planner. Right now we have about $390,000 in a fixed…

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Bright Start Uses (https://www.terrysavage.com/ask-terry/bright-startuses) Answered on March 15, 2014 Terry, Can a person you Bright Start monies to pay student loan notes after the child is out of…

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When to apply/qualify for a mortgage for a retirement home? (https://www.terrysavage.com/ask-terry/when-to-applyqualify-for-amortgage-for-a-retirement-home) Answered on March 15, 2014 I expect to retire within a year and relocate across the country (my retirement date is flexible,…

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should I invest in Gold (https://www.terrysavage.com/ask-terry/shouldi-invest-in-gold) Answered on March 15, 2014 Is gold a good hedge against the dollar? Sources are saying that the dollar will be useless and that…

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Rent Subsidy (https://www.terrysavage.com/ask-terry/rent-subsidy) Answered on March 15, 2014

Terry, I’ve read that the surest route to bankruptcy is being a “single mom no child support. HUD…

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Do your own will? (https://www.terrysavage.com/ask-terry/do-yourown-will) Answered on March 15, 2014 Hi Terry, We need to get a new financial person, I meet Jim Flanagan of Bentron Financial Group,…

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401 K rollover — money market or stocks? (https://www.terrysavage.com/ask-terry/401-k-rollover-money-marketor-stocks) Answered on March 15, 2014 I rolled my 401 K over to my local State Employees Credit Union when the stock market starting its…

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Will the govt take my IRA? (https://www.terrysavage.com/ask-terry/willthe-govt-take-my-ira) Answered on March 12, 2014 There is a lot of indicators about the government using our IRA’S and 401k’s to support there agenda…

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bank charges for canceled check (https://www.terrysavage.com/askterry/bank-charges-for-canceled-check) Answered on March 9, 2014 State of IL said I had missed first payment of estimated tax for 2013. They want front and back copy…

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Personal Financial Software (https://www.terrysavage.com/askterry/personal-financial-software) Answered on March 9, 2014 I’m fed up with Quicken’s personal financial specifically dealing with stock transactions– spinoffs,…

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Government Thrift Savings Plan vs other investments at RMD time (https://www.terrysavage.com/ask-terry/government-thrift-savings-planvs-other-investments-at-rmd-time) Answered on March 8, 2014 I am 71 and a retired Federal Employee with a CSRS pension and I am still working as a consultant. I…

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Travel Checks? or Credit Cards? (https://www.terrysavage.com/askterry/travel-checks-or-credit-cards) Answered on March 8, 2014 In light of hacking and credit card data theft, do businesses today take travelers checks? We’d like…

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secure term choice fixed annuity from mb financial investments. (https://www.terrysavage.com/ask-terry/secure-term-choice-fixedannuity-from-mb-financial-investments) Answered on March 7, 2014 an mb financial rep recently recommended a fixed annuity called secure term choice fixed annuity II.

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Property tax exemptions in Cook County (https://www.terrysavage.com/ask-terry/property-tax-exemptions-incook-county) Answered on March 6, 2014 Terry, I live in Cook County Illinois. At what age does the Homeowners exemption for your primary…

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Credit Score/Report (https://www.terrysavage.com/ask-terry/creditscorereport) Answered on March 6, 2014 I have heard that Credit Karma is a reliable web site for a free credit score and report. I have not…

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valic annuity (https://www.terrysavage.com/ask-terry/valic-annuity) Answered on March 6, 2014

Very much afraid, after a withdrawal request for my money since numerous contacts, employees valic…

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Money market mutual fund is uninsured? (https://www.terrysavage.com/ask-terry/money-market-mutual-fund-isuninsured) Answered on March 6, 2014 I am 70 years old, unmarried and no children. I have a mutual fund with TRowe Price called Summit…

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529 plan vs 40l(k) (https://www.terrysavage.com/ask-terry/529-plan-vs40lk) Answered on March 6, 2014 I have an old 401(k) with Fidelity. My wife says you’ve recommended Fidelity 529 plans. Can that be…

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LTC Insurance Premium Increase (https://www.terrysavage.com/askterry/ltc-insurance-premium-increase) Answered on March 3, 2014 Afternoon, Like lots of people, my wife and I received notices of extraordinary Long Term Care…

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Tax deferred annuity (https://www.terrysavage.com/ask-terry/taxdeferred-annuity) Answered on March 3, 2014 I am 67 years old and probably should start to take money out of my teachers annuity. I always…

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best way to repay consolidated college loans (https://www.terrysavage.com/ask-terry/best-way-to-repayconsolidated-college-loans) Answered on March 3, 2014 I believe my son is paying a minimum amount for repayment. How can he pay more toward the principal…

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401k rollover, lost job! (https://www.terrysavage.com/ask-terry/401krollover-lost-job) Answered on March 3, 2014 I recently lost my job I want to re invest my 401k what is safest way to do this and can I do it…

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EE Savings Bonds for Grandchildren (https://www.terrysavage.com/ask-terry/ee-savings-bonds-forgrandchildren) Answered on March 2, 2014 We presently have been blessed with three grandchildren and I’m sure there will be more down the…

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Retired, but not having income taxes withheld from Social Security, 401k withdrawls or annuity payments (https://www.terrysavage.com/ask-terry/retired-but-not-having-incometaxes-withheld-from-social-security-401k-withdrawls-or-annuitypayments) Answered on March 1, 2014 Retired for just over 18 months. Elected to have nothing withheld from my social security payments,…

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Credit Report Correcting (https://www.terrysavage.com/askterry/credit-report-correcting) Answered on March 1, 2014 You were on WGN 9 in Chicago this morning and talked about a website to visit that assists in making…

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Investing money to pay for Assisted Living/Memory Care (https://www.terrysavage.com/ask-terry/investing-money-to-pay-forassisted-livingmemory-care) Answered on March 1, 2014 Hi Terry, My father is in an Assisted Living residence for Dementia. I would like to invest some of…

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February 2014 Questions & Answers By Terry Savage Credit Card List on Organizer form (https://www.terrysavage.com/askterry/credit-card-list-on-organizer-form) Answered on February 28, 2014 Where can I find your credit card information list.

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Is there a tax savings on a second home mortgage? (https://www.terrysavage.com/ask-terry/is-there-a-tax-savings-on-asecond-home-mortgage) Answered on February 28, 2014 My son and I have a home in joint tenancy where the mortage is in his name and I pay ALL of the…

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Roth IRA and 457 contribution? (https://www.terrysavage.com/askterry/roth-ira-and-457-contribution) Answered on February 28, 2014 Hello, I am a city of Chicago employee and am contribute the maximum I can into my 457 deferred…

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investing in annuities (https://www.terrysavage.com/ask-terry/investingin-annuities) Answered on February 19, 2014 I am 70 years old and have investments in c d’s. I have about $100,000.00 that I would like to…

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refinance (https://www.terrysavage.com/ask-terry/refinance) Answered on February 19, 2014

I need to refinance my house but I owe more than my loan and my credit is not great. However I have…

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Getting Credit? (https://www.terrysavage.com/ask-terry/getting-credit) Answered on February 18, 2014

I am 71 years old my husband is a retired physician 75 years old. All of our credit cards and the…

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Credit Report (https://www.terrysavage.com/ask-terry/credit-report) Answered on February 18, 2014

How can I get a free copy of my credit score from all three agencies…

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Qualifying for a Mortgage After Retirement (https://www.terrysavage.com/ask-terry/qualifying-for-a-mortgage-afterretirement) Answered on February 15, 2014 Terry, I am confused regarding your answer to “Buy Or Rent In Retirement”. You told the gentleman…

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Currency Trader Help (https://www.terrysavage.com/askterry/currency-trader-help) Answered on February 14, 2014 Hello Terry, I am doing a self study on how to trade currency and I have been doing this for about 2…

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Money Week Chicago (https://www.terrysavage.com/ask-terry/moneyweek-chicago) Answered on February 7, 2014 Hi Terry, I was unable to find you as a presenter on the website Money Week 2014. Will you be…

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Can separate 529’s be used for both students? (https://www.terrysavage.com/ask-terry/can-separate-529s-be-usedfor-both-students) Answered on February 7, 2014 I have two 529’s, one for each child. We saved enough to pay most all costs of both kid’s college.

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FICO Score (https://www.terrysavage.com/ask-terry/fico-score) Answered on February 7, 2014

Is my FICO score affected by retirement since there won’t be any wage income – only a small pension…

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Home refinance (https://www.terrysavage.com/ask-terry/homerefinance) Answered on February 7, 2014 I would like to refinance my home to get a lower rate. Is it a good idea to include my car, so that…

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Cash sitting in Money Market (https://www.terrysavage.com/askterry/cash-sitting-in-money-market) Answered on February 7, 2014 We are ages 89/90 and have cash sitting in money market not invested in our portfolio. Where should…

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Retirement investment andwithdrawal advice (https://www.terrysavage.com/ask-terry/retirement-investmentandwithdrawal-advice) Answered on February 7, 2014 Terry, I am 75 years old and still working. I receive a good salary and very good benefits; however,…

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Tradional IRA rollovers and taxes (https://www.terrysavage.com/askterry/tradional-ira-rollovers-and-taxes) Answered on February 7, 2014 I rolled over a matured traditional IRA CD this past Oct., 2013 to a liquid cash IRA acct. I plan to…

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Should my son file taxes? (https://www.terrysavage.com/askterry/should-my-son-file-taxes) Answered on February 4, 2014 My 15 year old son earned under $2000 this summer and his employer withheld federal tax. Is there…

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onlinebanking with Ally Bank (https://www.terrysavage.com/askterry/onlinebanking-with-ally-bank) Answered on February 2, 2014 COULD YOU PLEASE TELL ME WHAT YOU KNOW ABOUT ALLY BANK. IT HASBEEN OFFERING AHIGHER INTEREST RATE ON…

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403B Plans (https://www.terrysavage.com/ask-terry/403b-plans) Answered on February 1, 2014

Terry Huge fan of yours, loved your book – a primer for my early retirement. Thank you! I…

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Am I doing enough for my retirement? (https://www.terrysavage.com/ask-terry/am-i-doing-enough-for-myretirement) Answered on February 1, 2014 Dear Terry, I’m 51 yrs old and married with 2 sons in college. Right now I make 90k a year. My wife…

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January 2014 Questions & Answers By Terry Savage 63 & can’t get a job (https://www.terrysavage.com/ask-terry/63-cantget-a-job) Answered on January 30, 2014 I am a single, healthy 63 yr old with no family, so completely responsible for own financial well…

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Brokerage account into an IRA? (https://www.terrysavage.com/askterry/brokerage-account-into-an-ira) Answered on January 30, 2014 I have two accounts : A BROKERAGE AND RETIREMENT (IRA) Could I roll over the Brokerage to the ira?

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MORTGAGES AT RETIREMENT (https://www.terrysavage.com/askterry/mortgages-at-retirement) Answered on January 30, 2014 Terry: I plan on retiring in 6 years and think that I should pay off my mortgage, but my husband…

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REIT in rising interest / tapering QE3 environment (https://www.terrysavage.com/ask-terry/reit-in-rising-interest-taperingqe3-environment) Answered on January 30, 2014 I own a currently publicly traded REIT which was originally a private, non-traded REIT that went…

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CDs at Credit Unions safe? (https://www.terrysavage.com/askterry/cds-at-credit-unions-safe) Answered on January 30, 2014 Is purchasing a CD thru a credit union safe? I have an account with Vanguard and, have purchased…

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Foreclose or not to foreclose (https://www.terrysavage.com/askterry/foreclose-or-not-to-foreclose) Answered on January 26, 2014 I am going to try and make this short. My mortgage is at 6.5%. I cannot refinance because I am…

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Tax Free Income from Permanent Life ins. policies (https://www.terrysavage.com/ask-terry/tax-free-income-frompermanent-life-ins-policies) Answered on January 26, 2014 A CPA on public television often tells viewers on retirement savings to invest in life ins products,…

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credit monitoring or freeze / Hold credit (https://www.terrysavage.com/ask-terry/credit-monitoring-or-freezehold-credit) Answered on January 26, 2014 My wife and i are trying to decide weather to enroll in a credit monitoring service like LifeLock or…

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Merging Tradionial IRAs (https://www.terrysavage.com/askterry/merging-tradionial-iras) Answered on January 26, 2014 Hi Terry, can i merge 2 different traditional IRA’s ( held at different banks ) together to make one…

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Investments (https://www.terrysavage.com/ask-terry/investments-2) Answered on January 25, 2014

Dear Terry: I miss you in the Chicago Sun-Times. You were one of the main reasons I even read that…

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financial organizer (https://www.terrysavage.com/ask-terry/financialorganizer) Answered on January 23, 2014 Heard you at the Mendal Center in Benton Harbor, Mi. Would like a copy of your Financial organizer…

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Buy or Rent in Retirement? (https://www.terrysavage.com/askterry/buy-or-rent-in-retirement) Answered on January 23, 2014 My wife and I will both be 65 when we plan to retire in June, 2014. My job of 43 years included…

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info from Jimbo’s show re taxation of social security benefits (https://www.terrysavage.com/ask-terry/info-from-jimbos-show-retaxation-of-social-security-benefits) Answered on January 23, 2014 Terry…. Caught you this morning on the Bohannon show, but need a little clarification. What was it…

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Savings bonds — gift now, or after death? (https://www.terrysavage.com/ask-terry/savings-bonds-gift-now-orafter-death) Answered on January 23, 2014 My Mom said she wants to leave me some US bonds when the time comes.Can she do that in a will or…

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Managed Payout Fund A Good Retirement Tool? (https://www.terrysavage.com/ask-terry/managed-payout-fund-a-goodretirement-tool) Answered on January 23, 2014 What is your opinion of using a managed payout fund vs. a deferred income annuity as part of a…

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Annuity w/Linc (https://www.terrysavage.com/ask-terry/annuity-wlinc) Answered on January 18, 2014

I’m a 75yr old widow. Your opinion on having two of these annuity. Thanks…

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Paying Debt/Starting a retirement fund (https://www.terrysavage.com/ask-terry/paying-debtstarting-aretirement-fund) Answered on January 18, 2014 My husband and I are in the process of paying off our debt. Neither one of us has a retirement fund…

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Can I afford to buy a home? (https://www.terrysavage.com/askterry/can-i-afford-to-buy-a-home) Answered on January 13, 2014 Terry,, I met you recently during your Allstate Book Tour stop in King of Prussia, PA. I am 26…

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credit cards (https://www.terrysavage.com/ask-terry/credit-cards) Answered on January 13, 2014

Hi Terry, I have a lot of credit cards I don’t use and are paid off. They do charge a small fee for…

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Sell stocks in this current high market (https://www.terrysavage.com/ask-terry/sell-stocks-in-this-current-highmarket) Answered on January 12, 2014 I am 82 yrs old and in low tax bracket…I like the dividends to pay some expenses. Should I sell…

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Pay Down HELOC or Start Saving (https://www.terrysavage.com/askterry/pay-down-heloc-or-start-saving) Answered on January 12, 2014 Hi Terry, my husband and I are both 51 and have been married for 20 years. We have a 530k mortgage…

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Searching a qualified, trustworthy financial advisor for a woman retiree of early seventies (https://www.terrysavage.com/ask-terry/searching-aqualified-trustworthy-financial-advisor-for-a-woman-retiree-of-earlyseventies) Answered on January 12, 2014 Are you also practicing as a personal financial advisor yourself? If not, could you recommend anyone…

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interest rates (https://www.terrysavage.com/ask-terry/interest-rates) Answered on January 12, 2014

which interest rates have risen since Jan 1 of 2013 and by what percent?

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Political Ambitions (https://www.terrysavage.com/ask-terry/politicalambitions) Answered on January 6, 2014 You’re one of the best financial journalists & advisors on the scene, no doubt. However, with…

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Financial advisors (https://www.terrysavage.com/ask-terry/financialadvisors) Answered on January 6, 2014 Is charging $5000.00 too much to open an account with a investment firm? And then charge 1.5% to…

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Investment Management (https://www.terrysavage.com/askterry/investment-management) Answered on January 4, 2014 Terry, When I left my company very early in 2000, I had $350k. I went to a very large firm and asked…

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Financial advisor need for senior (https://www.terrysavage.com/askterry/financial-advisor-need-for-senior) Answered on January 4, 2014 comments on Need a financial advisor for daughter ange said on January 3, 2014 at 9:16am, How…

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College savings — which to use first? (https://www.terrysavage.com/ask-terry/college-savings-which-to-usefirst) Answered on January 4, 2014 Hi Terry, My son will begin college in the fall. I have accumulated approximately $40,000 in a…

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paying off debt vs paying into IRA (https://www.terrysavage.com/askterry/paying-off-debt-vs-paying-into-ira) Answered on January 4, 2014 I have alot of credit card debt with high interest rates. Do I try to pay those down before paying…

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Retirement Planning Educitional Course – is it worth it? (https://www.terrysavage.com/ask-terry/retirement-planningeducitional-course-is-it-worth-it) Answered on January 4, 2014 Hi Terry, We keep receiving brochures for Retirement Planning Courses. They are always from…

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3D Printing companies as a investment. (https://www.terrysavage.com/ask-terry/3d-printing-companies-as-ainvestment) Answered on January 4, 2014 I am looking into 3D Printing companies to invest in. What is yor opinion on this sector of the…

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December 2013 Questions & Answers By Terry Savage Need a financial advisor for daughter (https://www.terrysavage.com/ask-terry/need-a-financial-advisor-fordaughter) Answered on December 29, 2013 I am 85, just diagnosed with acute leukemia. I think my own affairs are OK, but my daughter who…

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teaching children about investing for the long term (https://www.terrysavage.com/ask-terry/teaching-children-aboutinvesting-for-the-long-term) Answered on December 28, 2013 where can i go to buy little pieces of stock to teach my children how to invest smart…

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Future of high quality industrial and munis (https://www.terrysavage.com/ask-terry/future-of-high-quality-industrialand-munis) Answered on December 27, 2013 Future of high quality munis and industrial high yield bonds…

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Repairing bad credit score (https://www.terrysavage.com/askterry/repairing-bad-credit-score) Answered on December 27, 2013 Once you get timely making all required payments after a few years of being delinquent (particularly…

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How much do I need in retirement (https://www.terrysavage.com/askterry/how-much-do-i-need-in-retirement) Answered on December 19, 2013 I attended your talk at the Economic Club of Southwest Michigan in October and you gave several web…

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Early Retirement Withdrawal (https://www.terrysavage.com/askterry/early-retirement-withdrawal) Answered on December 19, 2013 We decided to cash in one of our retirement Roth IRA Funds for 68,000 we have paid 5% to the state…

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stock market (https://www.terrysavage.com/ask-terry/stock-market) Answered on December 18, 2013

After the second election, we went to 90% in cash money market. Should have waited but he scares me.

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Credit Card (https://www.terrysavage.com/ask-terry/credit-card) Answered on December 17, 2013

Hi Terry, I need to obtain some advice. I’m in my late 20’s and trying to establish credit. I…

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Where to invest money left over from the sale of my home (https://www.terrysavage.com/ask-terry/where-to-invest-money-leftover-from-the-ale-of-my-home) Answered on December 17, 2013 I’m retiring and recently sold my home and downsized to a smaller home in Florida. I picked Florida…

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Investment (https://www.terrysavage.com/ask-terry/investment) Answered on December 17, 2013

Terry Is it a good move to start putting money into a lirp from an annuity and 401k ? I will be 60…

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Underwater Investment Property (https://www.terrysavage.com/askterry/underwater-investment-property) Answered on December 15, 2013 I purchased a rental house 10 years ago that has never been profitable. Over the last 10 years I…

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Bitcoins (https://www.terrysavage.com/ask-terry/bitcoins) Answered on December 15, 2013

My son decided to take 7K of his hard earned money and invest it in Bitcoins. Are Bitcoins the…

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Retirement planning: use 40l(k) to pay off mortgage? (https://www.terrysavage.com/ask-terry/retirement-planning-use-40lkto-pay-off-mortgage) Answered on December 15, 2013 Have already retired (4 years; 64 years old) and still maintain a mortgage on my home. Recently…

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purchasing stock (https://www.terrysavage.com/ask-terry/purchasingstock) Answered on December 15, 2013 Could you recommend an on line site to buy stock, ?

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debt counseling (https://www.terrysavage.com/ask-terry/debtcounseling) Answered on December 15, 2013 How do we find a qualified debt counselor or can you recommend a person or firm that specializes in…

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mortgage help (https://www.terrysavage.com/ask-terry/mortgage) Answered on December 8, 2013

i had jp chase for my loan on my house I applyed for a modifcation and was denied the federal one so…

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Changing Beneficiary on EESavings Bonds (https://www.terrysavage.com/ask-terry/changing-beneficiary-oneesavings-bonds) Answered on December 8, 2013 My late husband and I have EE Savings Bonds. One half of them are in his name with me as beneficiary…

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College Savings Plans in Illinois: What to do! Why I Don’t Recommend BrightStart (https://www.terrysavage.com/ask-terry/college-savingsplans-in-illinois-what-to-do-why-i-dont-recommend-brightstart) Answered on December 8, 2013

Terry, On WGN the other day you mentioned you no longer recommend the IL pre-paid plan for saving…

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2 accounts- single and ira (https://www.terrysavage.com/ask-terry/2accounts-single-and-ira) Answered on December 8, 2013 Hi, Terry, I have (2) separate accounts with Edward Jones- a single type account in which I hold…

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Selling Savings Bonds to help Granddaughter (https://www.terrysavage.com/ask-terry/selling-savings-bonds-to-helpgranddaughter) Answered on December 8, 2013 Hi Terry, I am trying to figure out my income tax for 2013. I am an elderly widow, have combined…

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College savings in child’s name (https://www.terrysavage.com/askterry/collage) Answered on December 8, 2013 Hi Terry, My son will be going to collage next year. He has some money in savings & a little…

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Using home equity to purchase an investment property (https://www.terrysavage.com/ask-terry/using-home-equity-topurchase-an-investment-property) Answered on December 7, 2013 Hello Terry, My husband and I have about $175k of equity in our home. We would like to purchase an…

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Personal Financial Organizer form (https://www.terrysavage.com/askterry/financial-house-in-order) Answered on December 4, 2013 Would like to have your personal financial organizer. Thank you.

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Life expectancy (https://www.terrysavage.com/ask-terry/lifeexpectancy) Answered on December 4, 2013 How long am I going to live?

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College Planning (https://www.terrysavage.com/ask-terry/collegeplanning) Answered on December 4, 2013 Terry I have a question about what your thoughts are for best planning for a college find. I have…

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JP Morgan/Chase settlement with the government (https://www.terrysavage.com/ask-terry/jp-morganchase-settlementwith-the-government) Answered on December 4, 2013 In reading about the record penalty assessed against JP Morgan/Chase for its part in the 2008…

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November 2013 Questions & Answers By Terry Savage Bonds in 401k (https://www.terrysavage.com/ask-terry/bonds-in-401k) Answered on November 24, 2013

The bond portion of my 401k is in Vanguard Total Bond Market fund. I do not plan on withdrawing this…

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retirement goal savings goal. (https://www.terrysavage.com/askterry/retirement-goal-savings-goal) Answered on November 22, 2013 Terry, I am 36 years old with a wife and two kids who are under ten years of age. I have 400k+ total…

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Closing out a credit card (https://www.terrysavage.com/askterry/closing-out-a-credit-card) Answered on November 22, 2013 Hi Terry We have about 50k to 60k in credit card debt. Chase, our mortgage holder, offered to…

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gold/silver (https://www.terrysavage.com/ask-terry/goldsilver) Answered on November 21, 2013

Do you recommend buying [some] gold and/or silver,,,now?

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Social Security Payment Reductions (radio ad) (https://www.terrysavage.com/ask-terry/social-security-paymentreductions-radio-ad) Answered on November 20, 2013 I keep hearing an advertisement on conservative talk radio that gives a Web site called…

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Bright Start for College Savings? (https://www.terrysavage.com/askterry/bright-start-for-college-savings) Answered on November 20, 2013 Hey Terry. I have a daughter who will turn one years-old in January, and I want to open a Bright…

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What should I invest in? (https://www.terrysavage.com/ask-terry/whatshould-i-invest-in) Answered on November 20, 2013 Hi Terry, I am 63 yr old widow with grown children. My home is paid for and I am taking a buyout…

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SS..or widows pension (https://www.terrysavage.com/ask-terry/ss-orwidows-pension) Answered on November 20, 2013 I am 62 years old working 25 hours per week as caregiver yo my 93 year old boss for last 14…

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Paying Off Debt (https://www.terrysavage.com/ask-terry/paying-offdebt) Answered on November 20, 2013 Part of our debt is two car payments equaling a total of about $8000. For both payments, we have 0%…

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Trust or Will ? (https://www.terrysavage.com/ask-terry/trust-or-will) Answered on November 12, 2013

Hi Terry,my wife and i are in our early fifties with one son.We have a house in Illinois,which is…

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Your WGN segment on Women and Money (https://www.terrysavage.com/ask-terry/your-wgn-segment-on-womenand-money) Answered on November 11, 2013 Terry, I watched your segment on WGN Monday morning. Lucky for me, I had worked early in the morning…

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Giving money to children, grandchildren (https://www.terrysavage.com/ask-terry/giving-money-to-childrengrandchildren) Answered on November 10, 2013 I want to invest $10,000.00 for my two children, and my three grandsons; totaling $50,000.00. I want…

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LTC Insurance (https://www.terrysavage.com/ask-terry/ltc-insurance) Answered on November 10, 2013

My wife and I will have assets of 800000 – 1million when we retire. Is it necessary to purchase…

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Taking social security early or not? (https://www.terrysavage.com/askterry/taking-social-security-early-or-not) Answered on November 10, 2013 I disagree with my wife and say we should hold off taking her social security until she is 70. I…

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Reduced Social Security Benefit for County Pensioners (https://www.terrysavage.com/ask-terry/reduced-social-securitybenefit-for-county-pensioners) Answered on November 10, 2013 My husband “retired” in 2003 from the Cook County State’s Attorney’s office and receives a pension…

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first time home purchase with divorce settlement money? (https://www.terrysavage.com/ask-terry/first-time-home-purchase-withdivorce-settlement-money) Answered on November 8, 2013 Terry, I am recently divorced and am earning about 28,000 a year in my job. i received all my…

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I- Bonds and TIPS (https://www.terrysavage.com/ask-terry/i-bondsand-tips) Answered on November 6, 2013 For someone wanting safety and better yield than current insured CD’s, are I-Bonds and Tips a better…

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When to take social security when paying mortgage (https://www.terrysavage.com/ask-terry/when-to-take-social-securitywhen-paying-mortgage) Answered on November 6, 2013 Terry, both my wife and myself look forward to your advice and consider you as our goddess of…

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EE bonds (https://www.terrysavage.com/ask-terry/ee-bonds) Answered on November 6, 2013

Will I be penalized if I hold Savings EE bonds past their maturity date of 30 yrs. ? Thank you.

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Thanksgiving dinner discussion using Terry’s Financial Organizer form (https://www.terrysavage.com/ask-terry/thanksgiving-dinnerdiscussion-using-terrys-financial-organizer-form) Answered on November 3, 2013 Where is the 4-page form to give my family at Thanksgiving? You mentioned it last night at the…

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IRA’s for adult children (https://www.terrysavage.com/ask-terry/iras-foradult-children) Answered on November 3, 2013 Terry, can a parent put away money for an adult child via an ira or Roth ira directly or do the…

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Conservative Money Market (https://www.terrysavage.com/askterry/conservative-money-market) Answered on November 3, 2013 My mother in law recently met with a rep from Chase Bank regarding opening a Conservative Money…

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Karen Vogelsang (https://www.terrysavage.com/ask-terry/karenvogelsang) Answered on November 3, 2013 Terry: I need your help! When you spoke at our event in Valpo a few years back, a client thought you…

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October 2013 Questions & Answers By Terry Savage Part D insurance for medication (https://www.terrysavage.com/askterry/part-d-insurance-for-medication) Answered on October 21, 2013 I am looking for an inexpensive insurance for part D. The only medication I take is the generic form…

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Condo Forclosures/Bank Mortgages (https://www.terrysavage.com/ask-terry/condo-forclosuresbankmortgages) Answered on October 21, 2013 I live in a 24 unit condominium in Chicago. Our declaration specifies no renting. During this past…

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Bonds — risks vs rewards? (https://www.terrysavage.com/askterry/bonds-risks-vs-rewards) Answered on October 21, 2013 Hi Terry, I have much respect in your expertise and I would like your thoughts about investing in…

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STOCKS (https://www.terrysavage.com/ask-terry/stocks) Answered on October 21, 2013

HI TERRY, IT’S OCTOBER 2ND. I SAW YOU ON THE NEWS THIS MORNING ON WGN. PLAIN AND SIMPLE, SHOULD I…

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Social Security not enough for senior to live on (https://www.terrysavage.com/ask-terry/social-security-not-enough-forsenior-to-live-on) Answered on October 21, 2013 I am receiving $891.00 per month for my social security disability and 53.00 for food coupons. As…

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Gold (https://www.terrysavage.com/ask-terry/gold) Answered on October 21, 2013

Do you recommend to invest in gold to hedge future inflation?

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Cities Service Coupon bond unclaimed property (https://www.terrysavage.com/ask-terry/cities-service-coupon-bondunclaimed-property) Answered on October 21, 2013 Ms Terry Savage Oct 8 2013 Thanks for all the years of your columns in the Times. About the only…

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Should “the rest of us” follow Warren Buffet’s investment strategy? (https://www.terrysavage.com/ask-terry/should-the-rest-of-us-followwarren-buffets-investment-strategy) Answered on October 21, 2013 Mr. Buffet moves some money out of stocks when he feels the market is overpriced, and then puts the…

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Stock Market — Jim Stack signal? (https://www.terrysavage.com/askterry/stock-market-jim-stack-signal) Answered on October 21, 2013 Terry, what does James Stack think of the stock market and its next direction?

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Retired at 62 (https://www.terrysavage.com/ask-terry/retired-at-62) Answered on October 21, 2013

Hi Terry, I’m 62yrs old, retired, collecting a small pension and social security. Any suggestion on…

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Long Term Care Insurance? (https://www.terrysavage.com/askterry/long-term-care-insurance-2) Answered on October 21, 2013 Hi, my husband and I are looking into LTC insurance. I am 59 and he is 62. What type is better? So…

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529 account (https://www.terrysavage.com/ask-terry/529-account) Answered on October 21, 2013

My son is 14 and I want to start a 529. Should I go for a more riskier fund or or a more…

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Investment Books for young investors (https://www.terrysavage.com/ask-terry/investment-books-for-younginvestors) Answered on October 21, 2013 Terry, Can you recommend an investment book or two for a young investor who has his first job and is…

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Retired Seniors –tax deferred investments? (https://www.terrysavage.com/ask-terry/retired-seniors-tax-deferredinvestments) Answered on October 21, 2013 Hi Terry, I recently sold my home & also had a 5 yr. CD mature , so I need advice to find some…

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Life Insurance (https://www.terrysavage.com/ask-terry/life-insurance) Answered on October 4, 2013

I want to buy a life insurance but I do not know how to chooce one. I am 53 years. Can you suggest…

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September 2013 Questions & Answers By Terry Savage Credit Card Debt (https://www.terrysavage.com/ask-terry/credit-carddebt) Answered on September 29, 2013 My husband and I are in credit card debt $60,000!! Our income is approx $70,000 per year. Our…

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Best no-load mutual fund (https://www.terrysavage.com/ask-terry/bestno-load-mutual-fund-2) Answered on September 29, 2013 What is the best no-load mutual fund available?

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Traditional IRA renewal (https://www.terrysavage.com/askterry/traditional-ira-renewal-2) Answered on September 29, 2013 I have a traditional bank IRA cd maturing in a few weeks.($120,000) Because of the unstable &…

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401k or Pay Down Mortgage? (https://www.terrysavage.com/askterry/401k) Answered on September 29, 2013 I have approximately $300,00 in 401k and I’m 58 years old. I owe $120,00 on mortgage, and contribute…

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life insurance (https://www.terrysavage.com/ask-terry/life-insurance-2) Answered on September 29, 2013

I want to buy a life insurance but I do not know how to chooce one. I am 53 years. Can you suggest…

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File bankruptcy or not? (https://www.terrysavage.com/ask-terry/filebankruptcy-or-not-2) Answered on September 29, 2013 I’d like to know your opinion on whether my daughter should file for bankruptcy or not. She is 42…

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IRA CD (https://www.terrysavage.com/ask-terry/ira-cd) Answered on September 29, 2013

Hello Terry, My traditional IRA CD is maturing soon. My bank is trying to convince me that I should…

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Adding to 401k? (https://www.terrysavage.com/ask-terry/adding-to401k-2) Answered on September 29, 2013 HI, I have money in my savings account that I need to do something with – I had previously sent…

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Thanks for the great ideas re my non-equity IRA! (https://www.terrysavage.com/ask-terry/thanks-for-the-great-ideas-remy-non-equity-ira) Answered on September 29, 2013 Hi Terry, I appreciate your thoughtful and wide-ranging reply to my non-equity IRA question. Based…

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www.Magaltc.com (https://www.terrysavage.com/ask-terry/wwwmagaltc-com) Answered on September 29, 2013 Terry, Is this LTCI website only for women? If so, can you send me a LTCI website for men. Thank…

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credit card debt (https://www.terrysavage.com/ask-terry/credit-carddebt-2) Answered on September 29, 2013 My husband and I are in credit card debt $60,000!! Our income is approx $70,000 per year. Our…

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Retirement and student loans (https://www.terrysavage.com/askterry/retirement-and-student-loans) Answered on September 29, 2013 My daughter has a large amount of student loans that are considered private loans. Mainly from Citi…

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File bankruptcy or not? (https://www.terrysavage.com/ask-terry/filebankruptcy-or-not) Answered on September 29, 2013 I’d like to know your opinion on whether my daughter should file for bankruptcy or not. She is 42…

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college loans repayment (https://www.terrysavage.com/askterry/college-loans-repayment) Answered on September 29, 2013 how can I combine them to one. Private & Federal Loans ? Thank You I missed the website you had…

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Traditional IRA Renewal (https://www.terrysavage.com/askterry/traditional-ira-renewal) Answered on September 29, 2013 I have a traditional bank IRA CD maturing in a few weeks ($120,000). Because of the unstable &…

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Retirement accounts (https://www.terrysavage.com/askterry/retirement-accounts) Answered on September 29, 2013 I am retired and my wife is retiring at the end of this month. should we combine our retirement…

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Retirement Advice (https://www.terrysavage.com/ask-terry/retirementadvice) Answered on September 29, 2013 Hi Terry.. I am a 59 year old male and am seeking some retirement advice. Due to the job market I…

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A mortgage with 5% down? (https://www.terrysavage.com/ask-terry/amortgage-with-5-down) Answered on September 29, 2013 Hi Terry, I am thinking about relocating to the Southwest Michigan area but I have some issues: 1) I…

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Fixed Annuities for Seniors (https://www.terrysavage.com/askterry/fixed-annuities-for-seniors) Answered on September 29, 2013 Looking for some of your thoughts on fixed annuities through my bank to rollover traditional IRA CD…

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Best no-load mutual fund (https://www.terrysavage.com/ask-terry/bestno-load-mutual-fund) Answered on September 29, 2013 What is the best no-load mutual fund available?

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Help saving for retirement and college (https://www.terrysavage.com/ask-terry/help-saving-for-retirement-andcollege) Answered on September 3, 2013 My wife in I are in our early fifty but haven’t been as prudent as we should of been with regard to…

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Where to invest non-equity portion of IRA (https://www.terrysavage.com/ask-terry/where-to-invest-non-equityportion-of-ira) Answered on September 3, 2013 Terry, you have given sage advice on investments over the years which I have employed personally…

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Roth 401k Conversion (https://www.terrysavage.com/ask-terry/roth401k-conversion) Answered on September 2, 2013 Dear Terry, When leaving or retiring from a firm, can a person’s Roth 401k account be converted…

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RK Bad investment resurfaced (https://www.terrysavage.com/askterry/rk-bad-investment-resurfaced) Answered on September 2, 2013 HI Terry, I’d like to discuss a bad investment I made, but I don’t want to do it in a public post.

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Paying back the $50k my elderly mother gave us for kids college (https://www.terrysavage.com/ask-terry/paying-back-the-50-my-elderlymother-gave-us-for-kids-college) Answered on September 2, 2013 My 90 year old mother gave us $50K a short while ago to both my kids for paying for their college…

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Taxes on my Social Security (https://www.terrysavage.com/askterry/taxes-on-my-social-security) Answered on September 2, 2013 I am an elderly senior & know that any yr. income over $25,000. , my S. Sec. will be taxed. I…

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August 2013 Questions & Answers By Terry Savage Mortgage foreclosure (https://www.terrysavage.com/askterry/mortgage-foreclosure) Answered on August 25, 2013 Terry, My home is in the early stage of foreclosure, just because we were short on one payment. The…

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Annuities & a catastrophically disabled senior (https://www.terrysavage.com/ask-terry/annuities-a-catastrophicallydisabled-senior) Answered on August 25, 2013 Terry, I wrote once before about annuities. My parents put all their eggs in annuities at a late…

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Exit Bond Funds? (https://www.terrysavage.com/ask-terry/exit-bondfunds) Answered on August 17, 2013 Terry, Thanks for all of the good work you do. I am within a couple of years of retirement. About…

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Investments (https://www.terrysavage.com/ask-terry/investments) Answered on August 17, 2013

Is this a good time to invest in TRowe Price Floating Rate fund (PRFRX) or similar funds? Also…

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Financial Advisors Compensated by an Hourly Fee (https://www.terrysavage.com/ask-terry/financial-advisorscompensated-by-an-hourly-fee) Answered on August 17, 2013 What do you think about financial advisors who are paid on an hourly basis for advice about an…

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reverse mortgages (https://www.terrysavage.com/ask-terry/reversemortgages) Answered on August 17, 2013 Please advise on the best source for reverse mortgages. What is your opinion of AAG? Thank you.

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Investment for higher yield? (https://www.terrysavage.com/askterry/investment-for-higher-yield) Answered on August 17, 2013 Do you have an opinion on investing in Duke Energy’s “Premier Notes”? They are advertised in…

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Catholic foresters Annuity Penalty (https://www.terrysavage.com/askterry/catholic-foresters-annuity-penalty) Answered on August 17, 2013 I have a non-qualifying annuity With Foresters, that I bought 2 years ago, I know I’ll have to pay a…

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Target funds for Retirement Income? (https://www.terrysavage.com/ask-terry/target-funds-for-retirementincome) Answered on August 17, 2013 Hi, I am 61 and semi-retired. I had money in dividend and income fund with fidelity and am…

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An Illinois Teacher Worries About Pension (https://www.terrysavage.com/ask-terry/an-illinois-teacher-worriesabout-pension) Answered on August 16, 2013 As a retired Illinois teacher I am worried about my pension. Even though I made my contributions…

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Can you help me find my retirement account? (https://www.terrysavage.com/ask-terry/can-you-help-me-find-myretirement-account) Answered on August 4, 2013 I need assistance in locating my plan administrator for Household Financial Services Trip plan, I…

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July 2013 Questions & Answers By Terry Savage John Hancock Long Term Rate Hike (https://www.terrysavage.com/ask-terry/john-hancock-long-term-ratehike) Answered on July 29, 2013 My John Hancock LT policy has gone up effective August 2013 by 15%. They have applied for a total of…

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IRA (https://www.terrysavage.com/ask-terry/ira-2) Answered on July 29, 2013 Hi Ms. Savage, My question is I’m 61 and need to invest wisely without loosing money. I have a IRA…

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Retirement investments (https://www.terrysavage.com/askterry/retirement-investments) Answered on July 29, 2013 I have 170,000.00 in a pension fund from my job the hospitali work at was purchased and the money is…

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were to invest 1500.dollars a month (https://www.terrysavage.com/askterry/were-to-invest-1500-dollars-a-month) Answered on July 29, 2013 starting in jan a can investing 1500.00 a month for ten years…

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Where to get free annual credit report? (https://www.terrysavage.com/ask-terry/where-to-get-free-annualcredit-report) Answered on July 26, 2013 Terry, what is the web site to check your credit score once every 12 months for free?

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How to Invest Gift Money (https://www.terrysavage.com/ask-terry/howto-invest-gift-money) Answered on July 26, 2013 Terry – My daughter came into some money ($100,000 as a result of a court settlement. I don’t really…

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finding questions posed (https://www.terrysavage.com/askterry/finding-questions-posed) Answered on July 26, 2013 Hi, I’ve written previously and now cannot find all the questions and answers since you are no…

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Personal gifts per year tax free for the giver? (https://www.terrysavage.com/ask-terry/personal-gifts-per-year-taxfree-for-the-giver) Answered on July 26, 2013 I understand that one can give away up to @$13,000 a year to any individual and that individual does…

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Where to start on deferred comp (https://www.terrysavage.com/askterry/where-to-start-on-deferred-comp) Answered on July 26, 2013 I have a deferred comp account and I would like to know where to start on educating myself on how to…

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Taxes on my IRA’S (https://www.terrysavage.com/ask-terry/taxes-onmy-iras) Answered on July 26, 2013 Hi Terry, I have a question for you: I have two (reg.) IRA’s and am 67 yrs. old, am retired with a…

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Where to get free annual credit report? (https://www.terrysavage.com/ask-terry/where-to-get-free-annualcredit-report-2) Answered on July 26, 2013 Terry, what is the web site to check your credit score once every 12 months for free?

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Real estate as a retirement investment (https://www.terrysavage.com/ask-terry/real-estate-as-a-retirementinvestment) Answered on July 26, 2013 We have an opportunity to buy a vacation, shoreline, home at a good price. The property has been…

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Life Insurance once Kids Graduate HS? (https://www.terrysavage.com/ask-terry/life-insurance-once-kidsgraduate-hs) Answered on July 26, 2013 I have a $100k term life policy that goes thru 2021. My youngest kid graduates HS that year. Do I…

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Retirement Income help (https://www.terrysavage.com/askterry/retirement-income-help) Answered on July 26, 2013 After losing over $20K in principal in the last 6 months with Vanguard GNMA, I cashed it in and now…

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When to take Social Security? (https://www.terrysavage.com/askterry/when-to-take-social-security) Answered on July 26, 2013 I am approaching age of 61, works part-time now (going back to work full time has not been…

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IRA (https://www.terrysavage.com/ask-terry/ira) Answered on July 26, 2013 I am an elderly senior ( 75+) , have a bank CD IRA worth $125,000 that will mature in Sept. this…

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Updates ? (https://www.terrysavage.com/ask-terry/updates) Answered on July 26, 2013

Hi Terry, So many of us miss your helpful updates . Hope you will return soon ! With much…

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A Question About Bonds (https://www.terrysavage.com/ask-terry/aquestion-about-bonds) Answered on July 26, 2013 Hi Terry! In 2009 I invested in the Chase Core Bond Class C. I noticed that my investment isn’t…

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Ira CD coming due (https://www.terrysavage.com/ask-terry/ira-cdcoming-due) Answered on July 26, 2013 we have 32000 coming due in nov. 3.9 bank will pay about 1% after that. where can we get more. we…

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Home mortgage — pay off? (https://www.terrysavage.com/askterry/home-mortgage-pay-off) Answered on July 26, 2013 I am retired and my wife is still working we have a small home mortgage ($76000) my interest rate is…

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June 2013 Questions & Answers By Terry Savage Complicated Social Security Benefit issue! (https://www.terrysavage.com/ask-terry/complicated-social-securitybenefit-issue) Answered on June 19, 2013 I am going to be 66 in October and planning to take my social security beneit. At this time I am…

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Student loans — a rescue? (https://www.terrysavage.com/askterry/student-loans-a-rescue) Answered on June 19, 2013 My grand daughter, age 21, has student loans from ‘Direct Loans’ in the amt. of $11,000. This loan…

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frontline, “the retirement gamble” aired june 18, 2013 (https://www.terrysavage.com/ask-terry/frontline-the-retirementgamble-aired-june-18-2013) Answered on June 19, 2013 dear Terry, what do you think about the frontline program, are managed mutual funds good for…

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Retiree windfall from SSDI? (https://www.terrysavage.com/askterry/retiree-windfall-from-ssdi) Answered on June 10, 2013 I’m trying to determine how to best use a $35k SSDI lump sum payment. I am retired age 62 and my…

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Help After 33 Years of IRS default? (https://www.terrysavage.com/askterry/help-after-33-years-of-irs-default) Answered on June 10, 2013 Defaulted on IRS installmt contract 33 yrs ago. Am now 72 & owe $39000 in back taxes & fees.

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LTC/Death Benefit Combo? (https://www.terrysavage.com/askterry/ltcdeath-benefit-combo) Answered on June 10, 2013 Our Financial Advisor is recommending to my wife and I that we purchase a LTC with a Death Benefit…

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Industrial property sale (https://www.terrysavage.com/askterry/industrial-property-sale) Answered on June 10, 2013 We have retired and sold our business, however, we have a large commercial building on which we…

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financial help for my cancer drug (https://www.terrysavage.com/askterry/financial-help-for-my-cancer-drug) Answered on June 10, 2013 I am 70,married,retired and found out 2 months ago i have myloidfybrosis cancer.Otherwise a cancer…

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IRS tracking Roths (https://www.terrysavage.com/ask-terry/irstracking-roths) Answered on June 10, 2013 I’m 63, opened a ROTH IRA in 2012, have put in only money directly from me, no rollover or…

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Should I pay off my mortgage? (https://www.terrysavage.com/askterry/should-i-pay-off-my-mortgage) Answered on June 10, 2013 Hi Terry, I am questioning on whether I should pay off my mortgage ($32,000). Currently my monthly…

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Help in Long Term Savings for a Teacher (https://www.terrysavage.com/ask-terry/help-in-long-term-savings-fora-teacher) Answered on June 10, 2013 …

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Long Term Care Insurance? (https://www.terrysavage.com/askterry/long-term-care-insurance) Answered on June 10, 2013 In which one of your books can I find information on long term care insurance? And do you have…

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Retiree windfall from SSDI? (https://www.terrysavage.com/askterry/retiree-windfall-from-ssdi-2) Answered on June 10, 2013 I’m trying to determine how to best use a $35k SSDI lump sum payment. I am retired age 62 and my…

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Roth IRA 5yr rule for Withdrawals (https://www.terrysavage.com/askterry/roth-ira-5yr-rule-for-withdrawals) Answered on June 10, 2013 My daughter , who is disabled, would like to take money out of her Roth IRA to buy a house. Are…

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Privatized Pension? (https://www.terrysavage.com/ask-terry/privatizedpension) Answered on June 10, 2013 How does a privatized pension work for investment purposes for a person that is in their 80’s?

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Should a financial planner be registered? (https://www.terrysavage.com/ask-terry/should-a-financial-planner-beregistered) Answered on June 10, 2013 setting up my retirement account, met with a retirement planner, that a WLS radio show wm gieger…

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May 2013 Questions & Answers By Terry Savage Buy (https://www.terrysavage.com/ask-terry/buy) Answered on May 31, 2013 Please give a summary of the pros n cons of the retirement advise that involves obtaining a Roth n…

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I-Bonds – Bonds or Cash? (https://www.terrysavage.com/ask-terry/ibonds-bonds-or-cash) Answered on May 31, 2013 …

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When to sell bond funds? (https://www.terrysavage.com/askterry/when-to-sell-bond-funds) Answered on May 31, 2013 Hi Terry, This is a question that’s been troubling me for six months, and your response will help me…

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How Does Fed Add Money? (https://www.terrysavage.com/askterry/how-does-fed-add-money) Answered on May 28, 2013 HOW DOES THE FED PUT MONEY IN THE STOCK MARKET ? I THOUGHT THAT THE FED CANNOT PURCHASE STOCKS, BUT…

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Low Priced Stocks with High Dividends (https://www.terrysavage.com/ask-terry/low-priced-stocks-with-highdividends) Answered on May 28, 2013 Are low priced stocks that pay high dividends a good choice?Ireally do not understand how this is…

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When must gift tax return be filed? (https://www.terrysavage.com/askterry/when-must-gift-tax-return-be-filed) Answered on May 28, 2013 After my mother passed away, my 82 year old father received 50,000.00 on my mother’s life insurance…

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Do you read Investor’s Business Daily? (https://www.terrysavage.com/ask-terry/do-you-read-investorsbusiness-daily) Answered on May 27, 2013 What is your opinion of Investor’s Business Daily? Is it worth the money?

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Renewing IRA CD (https://www.terrysavage.com/ask-terry/renewingira-cd) Answered on May 27, 2013 Hi Terry, I have an IRA CD ( 5 yr term ) that will mature this year in Sept. 2013. I am a elderly…

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Roll 40l(k) into IRA? (https://www.terrysavage.com/ask-terry/roll-40l9kinto-ira) Answered on May 15, 2013 Hi Terry, my employer is having us take our profit sharing 401K out of our current management firm…

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Identity Theft (https://www.terrysavage.com/ask-terry/identity-theft) Answered on May 13, 2013

I recently gave a large retail store the last for numbers of my social security number for access to…

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stock percent 63 yr old retired (https://www.terrysavage.com/askterry/stock-percent-63-yr-old-retired) Answered on May 13, 2013 What % of stock in a 1.4 million portfolio should I have? I’m retired with an annual income of…

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Series EE savings bonds and paying for college (https://www.terrysavage.com/ask-terry/series-ee-savings-bonds-andpaying-for-college) Answered on May 13, 2013 Terry, I have $4,000 in qualified series EE savings bonds, with an issue price of $1,000 and accrued…

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EE Savings Bonds (https://www.terrysavage.com/ask-terry/ee-savingsbonds) Answered on May 13, 2013 Hello Terry, I am an 80 y.o. widow with a $19,000. annual income from SS & small pension , with…

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IRA rollover to a church (https://www.terrysavage.com/ask-terry/irarollover-to-a-church) Answered on May 13, 2013 With interest rates so low on CD’s, I am considering a rollover of an existing IRA from a maturing…

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IDENTITY THEFT (https://www.terrysavage.com/ask-terry/identitytheft-2) Answered on May 13, 2013 I recently gave a large retail store the last for numbers of my social security number for access to…

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Early career (https://www.terrysavage.com/ask-terry/early-career) Answered on May 13, 2013

Hello Terry, I would like to know, what amount of education and or licenses are required to work at…

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clueless (https://www.terrysavage.com/ask-terry/clueless) Answered on May 13, 2013

You saved $20,000.00 and want to diversify your monies. You invest 45% in a Treasury bond for 3…

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Question on Long Term Care insurance (https://www.terrysavage.com/ask-terry/question-on-long-term-careinsurance) Answered on May 13, 2013 Ms Savage. Are you aware of any insurance company that does offer long term care insurance for a…

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Pension and Retirement (https://www.terrysavage.com/askterry/pension-and-retirement) Answered on May 13, 2013 Terry, I just qualified (age 55) for pension payouts from my former company but am working and…

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longterm ins. (https://www.terrysavage.com/ask-terry/longterm-ins) Answered on May 13, 2013

i have longterm ins.my wife also has longterm ins.both retired,and on med-care i am a vet and can go…

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T Rowe Price (https://www.terrysavage.com/ask-terry/t-rowe-price) Answered on May 13, 2013

Terry: FYI. Contacted T. Rowe Price regarding monte carlo modeling to generate retirement income.

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How Do I find a “trust company” (https://www.terrysavage.com/askterry/how-do-i-find-a-trust-company) Answered on May 1, 2013 I’m thinking of setting up a living trust, but how do I find a bank with a trust department I can…

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Can second mortgage lender foreclose? (https://www.terrysavage.com/ask-terry/can-2nd-mtg-lender-foreclose) Answered on May 1, 2013

Hi Terry. Our 2nd mortgage holder is threatening to start foreclosure proceedings on us. My ? is can…

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Cash in EE Savings Bonds? (https://www.terrysavage.com/askterry/cash-in-ee-savings-bonds) Answered on May 1, 2013 Terry, I’m going to start cashing in my savings bonds. I have about 100 EE $200 denomination bonds.

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April 2013 Questions & Answers By Terry Savage Miss your column in the Sun-Times (https://www.terrysavage.com/askterry/miss-your-sun-times-column) Answered on April 30, 2013 I miss your column in the sun times. What happened? That’s the reason we get the paper. I feel your…

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Senior’s credit card debt (https://www.terrysavage.com/askterry/seniors-credit-card-debt) Answered on April 28, 2013 I am 73 yrs old retired get $729 per month from social security and have 30,000 card debit, Can…

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Bad IRA Investments (https://www.terrysavage.com/ask-terry/movingira-out-of-bad-investment) Answered on April 28, 2013 Terry: After nearly 4 years with TD Ameritrade, a Roth IRA account I have (about $27,000) has not…

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Senior’s credit card debt (https://www.terrysavage.com/askterry/seniors-credit-card-debt-2) Answered on April 28, 2013 I am 73 yrs old retired get $729 per month from social security and have 30,000 card debit, Can…

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Help investing inherited money (https://www.terrysavage.com/askterry/help-investing-inherited-money) Answered on April 27, 2013 My dad left us 50,000 we want to invest it . We are max out this year in Roth. Because my wife is…

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Need a retirement withdrawal calculator (https://www.terrysavage.com/ask-terry/need-a-retirement-withdrawalcalculator) Answered on April 27, 2013 Terry: I am 65 years old (soon to be 66 in a couple of months) and would like to retire at 67. I…

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Financial Stability Possible? (https://www.terrysavage.com/askterry/financial-stability-possible) Answered on April 27, 2013 I am a divorced medical professional living with my parents I work only 6 hours a week and I’m in…

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PLUS STUDENT LOAN NOW DUE (https://www.terrysavage.com/ask-terry/plus-student-loan-now-due) Answered on April 27, 2013

Morning Terry, We have now come due in July 73,000 in Parents Plus loads we took out to help our…

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Economic Outlook: Stack vs Dohmen (https://www.terrysavage.com/ask-terry/stack-vs-dohmen) Answered on April 20, 2013

Terry, you take into consideration the opinions of James Stack and Bert Dohmen. Is Stack bearish or…

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SOCIAL SECURITY BENEFITS (https://www.terrysavage.com/askterry/social-security-benefits) Answered on April 20, 2013 My wife and I receive SS benefits and I have a part time job. Since I have contributed the max…

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Required Minimum Distributions from 40l(k) — or IRA? (https://www.terrysavage.com/ask-terry/required-minimumdistributions-from-40lk-or-ira) Answered on April 20, 2013 Ms. Savage, Can 401K and 403-B Required Minimum Distributions be bundled and taken out of an IRA…

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Mom moving in — will it impact Medicaid benefits? (https://www.terrysavage.com/ask-terry/mom-moving-in-will-it-impactmedicaid-benefits) Answered on April 20, 2013 My mother in law 65 y/o currently lives with her husband in a house they own. She receives…

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How much is too much available credit? (https://www.terrysavage.com/ask-terry/how-much-is-too-muchavailable-credit) Answered on April 20, 2013 During my middle years, I carried a lot of credit. Because I was never late with a payment and…

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What do do with Union Annuity and Pension checks (https://www.terrysavage.com/ask-terry/what-do-do-with-union-annuityand-pension-checks) Answered on April 20, 2013 Terry, I’m going to retire next year at 64 and I will have a Union Annuity of $60,000 plus a pension…

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Social Security Disability and private disability insurance (https://www.terrysavage.com/ask-terry/social-security-disability-andprivate-disability-insurance) Answered on April 20, 2013 I?receive ssdi plus a tax free monthly check from a disability insurance i will receive the…

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Annuity for 81 year old man? (https://www.terrysavage.com/askterry/annuity-for-81-year-old-man) Answered on April 20, 2013 Should an 81 year old male consider purchasing an annuity and if so what type of an annuity should…

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How much should I pay for planning advice? (https://www.terrysavage.com/ask-terry/how-much-should-i-pay-forplanning-advice) Answered on April 20, 2013 Terry i have corresponded with you in the past about cfp fee only. i’m about to look seriously for…

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Advice on senior help organizations (https://www.terrysavage.com/askterry/advice-on-senior-help-organizations) Answered on April 20, 2013 In a past col-you mentioned two org’s for seniors to check out assistance progs -either state or…

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File Tax return for low income senior? (https://www.terrysavage.com/ask-terry/file-tax-return-for-low-incomesenior) Answered on April 20, 2013 I am now my mother’s legal power of atty since my sister died last year. My mother is in a nursing…

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Monthly disbursements from 40l(k) or IRA rollover? (https://www.terrysavage.com/ask-terry/monthly-disbursements-from40lk-or-ira-rollover) Answered on April 20, 2013 I am 60 years old and retired. Effective April 1, I will be receiving a monthly check from my 401K…

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Qualifying for Medicaid — does Life Insurance policy count? (https://www.terrysavage.com/ask-terry/qualifying-for-medicaid-doeslife-insurance-policy-count) Answered on April 20, 2013 My dad is 89, widowed,still living on his own and in ok health. He has less than $80,000 in assets,…

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What is the true value of gold in USD? (https://www.terrysavage.com/ask-terry/what-is-the-true-value-of-goldin-usd) Answered on April 20, 2013 If gold was selling at 1400 and buyers thought it was a good investment at that price, why are now…

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4% Rule for Retirement Withdrawals (https://www.terrysavage.com/ask-terry/4-rule-for-retirementwithdrawals) Answered on April 20, 2013 Do you accept the 4% withdrawal rate for retirement assets as viable? What is your recommendation?

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Individuals stocks or mutual funds? (https://www.terrysavage.com/askterry/individuals-stocks-or-mutual-funds) Answered on April 20, 2013 Hi Terry, My question is do you think it is smarter and less risky to invest in mutual funds than…

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TAX FILING COMPROMISED — ID Theft! (https://www.terrysavage.com/ask-terry/tax-filing-compromised-id-theft) Answered on April 20, 2013

I got a phone call from my tax guy this morning telling me that my tax filing was a victim of…

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Find Answers (https://www.terrysavage.com/ask-terry/find-answers) Answered on April 20, 2013

Hi Terry, Where can I find questions that others have asked you along with your answers ? I so…

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Rent in Senior Housing or buy a Condo under $50,000.00 as first time buyer? (https://www.terrysavage.com/ask-terry/senior-housing) Answered on April 20, 2013

Hi,Terry how are you doing? I am living in a apt.,with a bad smell inside and neighbors who are very…

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Student loans interest rates are unfair (https://www.terrysavage.com/ask-terry/student-loans-interest-ratesare-unfair) Answered on April 9, 2013 My son has huge student loans from law school, Direct Loan and Grad Plus. He went to school during…

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Home equity guarantee taxable? (https://www.terrysavage.com/askterry/home-equity-guarantee-taxable) Answered on April 9, 2013 Was able to collect 39,563 under the southwest home equity assurance plan. They told me it was tax…

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Late Federal Tax Refund (https://www.terrysavage.com/ask-terry/latefederal-tax-refund) Answered on April 9, 2013 I efiled my taxes on March 13th, thru AARP, to have it direct deposited. I got my state refund but…

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Help with info about retiring now! (https://www.terrysavage.com/askterry/help-with-info-about-retiring-now) Answered on April 9, 2013 I need to know where to find info about retiring now. My husband turns 65 next month, he is still…

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Help calculating Required Minimum Distributions (https://www.terrysavage.com/ask-terry/help-calculating-requiredminimum-distributions) Answered on April 9, 2013 Thank you for your marvelous column, I have learned so much from you. I have now reached the magical…

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Should I give my wife access? (https://www.terrysavage.com/askterry/should-i-give-my-wife-access) Answered on April 9, 2013 My wife works a public job(school ) and makes about 50000 a year. I work at a family business. She…

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Is this inheriteed annuity payout taxable? (https://www.terrysavage.com/ask-terry/is-this-inherited-annuitypayout-taxable) Answered on April 9, 2013 My mother passed away in 2012. As executor of her will, I received a check from Genworth Financial…

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How do I get Your Personal Financial Organizer form? (https://www.terrysavage.com/ask-terry/how-do-i-get-your-personalfinancial-organizer-form) Answered on April 9, 2013 I’m trying to find the Personal Financial Organizer Form and can’t seem to find it. How do I get…

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Why must I pay for credit score? (https://www.terrysavage.com/askterry/why-must-i-pay-for-credit-score) Answered on April 9, 2013 Today, I downloaded my annual credit report, s you had suggested, but must I pay for the credit…

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Selling a Timeshare? (https://www.terrysavage.com/ask-terry/selling-atimeshare) Answered on April 8, 2013 Thanks for the great presentation at Simmons Women’s Leadership Conference this week! We bought into…

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Thanks for Financial Engines retirement link (https://www.terrysavage.com/ask-terry/thanks-for-financial-enginesretirement-link) Answered on April 8, 2013 Hi Terry: Thanks to your recommendation, I’ve been tracking the accumulation of my retirement…

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Pension — or Rollover (https://www.terrysavage.com/askterry/pension-or-rollover) Answered on April 8, 2013 Hello Terry, I work for a company that will be closing its door in California and have been given a…

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Conservative to risky? Roll the dice now with extra cash? (https://www.terrysavage.com/ask-terry/conservative-to-risky-roll-thedice-now-with-extra-cash) Answered on April 8, 2013 Terry , I’m 55 and I’ve been a buy and hold person my whole life and have contributed to a company…

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I’m preparing to send my daughter off to college (https://www.terrysavage.com/ask-terry/im-preparing-to-send-mydaughter-off-to-college) Answered on April 5, 2013 My daughter has been accepted and will be attending University in the Fall. We have a small 529…

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About Terry Savage Terry Savage is a nationally known expert on personal finance, the markets, and the economy. Read more about Terry (http://www.terrysavage.com/bio)

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Terry Answers Your Questions

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Hi Terry, I’ve read some of your previous answers on Illinois Brightstart 529 plans. I’ve read…

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