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.
Small Biz — Health Insurance Special Deal
Health insurance for small businesses has become problematic in this staggering economy. Traditional plans require employers to contribute to the cost of premiums, and require participation rates that are now difficult to meet amidst layoffs. That’s why this year’s Small Business Special enrollment period running November 15 through December 15th is especially important. Even businesses..
Women and Money — Sad Stories
How shocking it is to hear that today's educated and successful women are still being surprised about marital money issues -- whether as a result of death, divorce, illness or betrayal. Yet these true stories below -- all of which I have encountered over the past three months -- illustrate a costly deficiency when it..
Stimulus Check Updates
NON-FILERS WHO DIDN'T GET A STIMULUS CHECK -- DO THIS BY NOVEMBER 15TH The IRS is reaching out to approximately 9 million Americans who deserved a stimulus check but didn't receive one, likely because they earn too little to have filed a tax return, and are not on other government benefits lists such as Social..
Open Enrollment Medicare
Millions of seniors on Medicare have some important decisions to make during the Medicare Open Enrollment period that started on October 15th and continues through December 7th. Lately, that process is complicated by enticing television and radio ads for Medicare Advantage programs that offer everything from dental and visions benefits to rides to doctor appointments..
Congress Works For US! Contact them — Both parties
Ultimately, as James Carville so clearly said nearly three decades ago, it’s all about the economy. And while the politicians don’t seem to care much about the economy, despite the upcoming election, it has become a total preoccupation with the 12 million people who are still out of work – and their families. That number..
No One Wants Your Stuff!
No one wants your stuff! That’s the inescapable conclusion that aging baby boomers are facing as they plan to downsize by selling the family home. Suddenly the treasures of a lifetime have become an emotional and financial burden. Boomers still have their grandparents’ china, silver, art, and furnishings. But their Gen X,Y, and Z children..
FAFSA Again!
While college students and their parents are still trying to get through this horrendous year, it’s time to look forward to next year. That means re-applying for financial aid for 2020-2021. And for parents of high school students this marks the start of a journey through FAFSA that must be replayed every year. FAFSA stands..
Pet Insurance
One bright result from the Covid 19 shelter-in-place orders this past spring was that animal shelters were emptied by rescuers seeking companionship. Hopefully, it all worked out well for the pets and their new owners. But since this is a personal finance column, it’s also important to note the financial responsibility that comes with pet..
Employers Pay Student Loans
Help with repayment of student loans is one of the most enticing benefits a company can offer to today’s young workers. And now there’s a new opportunity for employers to act before year-end to use a portion of the CARES Act that makes tuition repayment benefits even more attractive. Traditional employee benefits like healthcare and..
Markets, the Economy, and Your Decisions
In mid-March, with the markets falling sharply and the Dow Jones Industrial Average hitting a low of 18,213, most investors would have been amazed to think they would recoup their losses and “break even” in their lifetime! Well, here we are less than 6 months later, with the markets making new all-time highs. The rebound..
Mortgage Moment
For most Americans, the family home is your largest asset, competing with your IRA or 40l(k) as the base for your financial security And unlike an investment account, your home provides shelter as well as appreciation over the long run. Now it’s time to re-evaluate your home from a financial point of view. One of..
Stock Slices– Starting Small
You can buy pizza by the slice, so why not stocks? It’s a concept that is catching on in the investment world --- as a new generation turns its expertise in electronic games into an effort to make money in the stock market. It’s better than wasting real dollars buying items in Roblox. Fifty years..
Why Gold
All that glitters is gold these days. Gold has broken through to new all-time highs, nearly $2,000 an ounce. Why gold now? It’s very simple. The Fed is creating (“printing”) an enormous amount of dollars – with more on the way to finance the next $1-plus trillion stimulus bill. The “smart money” is losing faith..
IDES and Identity Theft
Did you receive an unexpected debit card loaded with unemployment benefits from IDES? You’re not alone! Suddenly, cards are being sent to retired people, working people, and many who never applied for unemployment. At the same time, many people received notice of a separate bank checking account and a debit card -- accounts they never..
Didn’t Get Stimulus Payment? Do this!
The Link below leads you to IRS form 3911. It says for Tax Refunds, but it is also to track missing stimulus payments (EIP). Please follow the instructions below if you are sure you qualified for a stimulus check but have not received it yet. First, make sure someone else did not declare you as..
Making Sense of Stocks
The stock market has proved in recent days that it can exceed its all-time highs, depending on which indexes and stocks you are watching. Given market volatility, as you read this it could be lower, or even higher. But one thing is sure: in no way is the economy in better shape than it was..
Student Loan Rates Drop — but what’s the REAL Cost?
College plans remain suspended for many thousands who are wondering just what the next academic year will look like. Schools are in the process of deciding if and how they can reopen campuses safely. And students are deciding whether to take the risk of attending — even after negotiating some significant tuition breaks. And into..
Taxes Due July 15th
The countdown is on. Like seeing Santa in summer, the July 15th tax deadline is shocking – but real, and soon! You didn’t prepare while locked down inside your house this spring, so now the scramble starts. Here’s a three-set plan of attack to get your taxes done in the next few days: • Getting..
New “Best Interests” Regulation
A new rule promulgated by the Securities and Exchange Commission known as Regulation Best Interest (Reg BI) goes into effect June 30. It promises to give investors a clearer picture of the fees and other costs they are paying, as well as the disciplinary history of brokers and advisers who are giving financial advice, although..
Money News Update 6/24/20
IRS says RMDs Can Be Returned If you took a Required Minimum Distribution at any time during 2020 – or even regular distributions on a monthly basis, you may return them to your IRA without penalty if you act by August 31st. Of course, the IRS announced in April that NO RMDs would be required..
