Terry Savage’s Archives
Below you will find the columns terry has written by date.
Below you will find the columns terry has written by date.
Fiduciary Fee Fight (Part 1)
The Department of Labor’s fiduciary rule is going into effect despite the efforts of financial firms to block it. In fact, Wall Street has found a way to profit from the new rules big time at the expense of vulnerable American investors. Read It Here
Reverse Mortgages: A Personal Story
I have long been a fan of reverse mortgages — if they are done in the right circumstances and for the right reasons. Regular readers of this column know I always put my money where my mouth is. And in the case of reverse mortgages, I want to give you a very personal example. Read..
Time to Rebalance Stock Exposure
As the market reaches all-time highs again and again, the value of your stocks might have started to overwhelm your appropriate asset allocation — especially if you’re nearing retirement and soon will need to start making required annual withdrawals. Read It Here
5 Essential Steps to Estate Planning
Planning your estate does not require you to have a lot of assets. But protecting your family’s future — your home equity and your family’s ability to maintain their lifestyle in your absence — requires you to take some simple steps now to avoid the long and costly court procedure called probate. Read It Here
When to Start Taking Social Security
The decision you make about when to take Social Security benefits can have a huge impact on your retirement plans and your lifetime income. Read It Here
Talk With Mom, Dad About “What if . . .”
With Mother’s Day, and then Father’s Day, coming up, maybe it’s time to have an open discussion about what happens when something happens. That isn’t a pleasant thought, but if you’re willing to have that conversation, you’ll make things much easier at a tough time in the future. No one likes to think about mortality...
Don’t Count on that Government Pension
Millions of Americans are expecting to receive a pension from the city or state that employs them. Many will be in for a terrible surprise, according to the nonprofit organization Truth in Accounting. Read It Here
Exchange Traded Funds
Exchange-traded funds are far outpacing traditional mutual funds in gathering assets. Last year, more than $280 billion of new investor money flowed into ETFs, a record. Read It Here
Healthcare Expenses and Taxes
In the past few years, the costs and regulations around health insurance have become inextricably entwined with federal income taxes. Leaving all the political debate aside, the Affordable Care Act impacts the tax returns of millions of Americans. Read It Here
Avoid Medicare Signup Mistakes
If you aren’t careful about the timing of your Medicare enrollment, you could make a very costly mistake – one that will cost you for the rest of your life. Read It Here
Compare College Financial Aid Offers
College acceptance letters are arriving now – and with them the financial aid offers that can make or break a college dream. Read It Here
America’s Debt Reckoning is Coming Soon
Once upon a time, the United States was the wealthiest and most generous nation in the world — rebuilding countries after wars, supplying aid in natural disasters, and supporting allies and emerging democracies. We did all this and also built roads and airports at home. We are still the wealthiest and most generous nation in..
Investment Fee Price War is Your Opportunity
The investment industry is in the midst of a price war that will cut costs for everyone from individual investors to sophisticated hedge fund participants. That’s great news for investors. Read It Here
Buried in Debt . . . Again?
You would think Americans had learned their lesson about borrowing, but debt levels are creeping up again. That isn’t a worry when the economy is strong, unemployment is down and confidence is high. But if — and when — the next recession occurs, the consequences could be even more devastating than the last go-round. This..
How to Refinance Student Loan Debt
Americans now owe more on student loan debt than on credit card debt. And they’re getting smarter about dealing with that debt to save a fortune in interest over the life of the loan. Read It Here
Fiduciary Rule Dies; Your Retirement in Danger
The Fiduciary Rule won't go into effect in April as scheduled. That opens the door for high-pressure salespeople to peddle inappropriate and cost-heavy products that could devastate your retirement account as you roll that hard-earned money from a company plan into an IRA. Read It Here
Identity Theft Takes a New Turn
If you think your finances are safer now that you use a chip card, think again. The latest Javelin Identity Fraud Study reports the number of identity fraud victims increased by 16 percent in 2016 to more than 15 million consumers. Read It Here
Pet Health Insurance
If you consider your dog or cat to be a member of the family, you are not a pet owner. You are a “pet parent.” And that can expose you to some very expensive medical bills. Read It Here
Trump’s Economy: Is Less Regulation Better?
On Feb. 3 Trump also signed a presidential memorandum instructing the Labor secretary to evaluate a specific regulation placed on financial advisers. Known as the fiduciary rule, it requires brokers in charge of retirement plans to act in their clients best interest. The rule is set to take effect on April 10, but that may..
The Super Bowl of Taxes
Football is a big-money game, and its highest-stakes event, the Super Bowl, is about to take center stage. The winning athletes will earn an extra fortune --but the "jock tax" means that NFL players typically must file returns in 10 to 12 taxing jurisdictions, including local cities. There are some tax lessons here for all..
