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.
New Year, Clean Slate
No use looking back at mistakes made. You can’t undo them and must live with the consequences. But the New Year presents us with a clean slate, a chance to start over with better money habits and smarter decisions. Here are some practical things to consider. Accept the bull market. It IS a bull market,..
A Christmas (True) Fable
Tis the season to receive long, chatty messages tucked into holiday cards, describing the year's significant events for family members including the dog. But this year, I received one such missive by email, that I thought I would share with my readers, hoping to capture the pure joy of financial planning and self-discipline working out..
CollegeIllinois Closed To Investors
CollegeIllinois! — the state’s prepaid tuition plan — has closed and is no longer selling contracts. It’s the second time in recent years the program has been closed as it struggles to fill a $320 million gap between the money it has taken in on prepaid tuition contracts and the cost of the promised tuition...
Talk Money with Family Over the Holidays
The holiday season is time for families to get together and celebrate. But it’s worth stepping back from the festivities to consider whether all generations are prepared for both the inevitable and the unexpected. Read It Here
Holiday Gifts that Teach Kids about Money
Every year at this time, I write a column about gifts that teach children about money. While the latest toys, dolls and electronics may capture their brief attention spans, the gifts described below will provide far more meaning in the long run. Read It Here
Scholarship Search Time
Set aside some time in the holiday season to search online for scholarships that can make all the difference in college affordability. High school sophomores and juniors should search, too. Read It Here
Can’t Afford Obamacare Plans?
Obamacare survived the political process. The big question is whether middle-income Americans can afford to buy a policy. And millions are saying they can’t. There’s a great irony in the health care system. Many Americans who qualify for a subsidy — individuals earning less than 400 percent of the poverty level (about $49,000) — get..
Small Biz Health Insurance Special
Small businesses – employing from 1 to no more than 50 people — now have a one-month opportunity to buy the very best group insurance available – at no cost to the business — and without participation requirements! Read It Here
Medicare Open Enrollment — Know This!
This is an an especially challenging time for seniors, who quickly learn that, while Medicare is a wonderful program, there are costly and significant decisions that must be made each year. For starters, you MUST review your Part D Prescription Drug Plan! Read It Here
Beware of Bonds!
If you’re worried about protecting your stock market profits, where can you hide? That’s the dilemma facing many investors who want less exposure to the stock market at this stage of their life, especially considering the incredible gains of the past ten years. Unfortunately, too many people have told me they are “hiding” from the..
The Next Bear Market
There will be another bear market. You can count on it. You just can’t know when it will start, or from what level. The other thing you can count on is that it will have a huge impact on your investments — and on your retirement plans. Read It Here
Estate Planning for Pets
Have you made plans for your pets in case you die before they do? Sadly, there are too many dogs and cats in shelters because their owners died and made no provisions for their care. This is not just a topic for the elderly to think about. Young singles with pets could face the same..
Check Your Life Insurance — Before it Runs Out!
If you have a life policy that is intended to build cash value over time, and you haven’t had an insurance checkup in the past few years, it’s time to find out whether your policy will last as long as your life. Read It Here
FAFSA Time, Again
October 1st is the first day you can file your Free Application for Federal Student Aid for the school year 2018-2019 – to access more than $120 billion of Federal student aid, including work/study programs, grants, and scholarships. Don't procrastinate! Read It Here
Equifax Data Breach — What to Do!
Equifax knows you – even if you don’t know them. They are one of the three large credit bureaus that collect information on all your financial transactions. And now they've suffered a data breach that could affect nearly every adult American. What should you know; what should you do? Read It Here
Harvey Will Hurt
There’s no way to measure the pain and anguish Hurricane Harvey inflicted on Houston area residents, many of whom were uninsured, and many of whom lost a lifetime of memories that can’t be replaced by the insurance they have. But Harvey will also make a big dent in economic growth for the entire country and..
Retirement and the Single Woman
More women spend more time living alone. And that’s having a big impact on retirement planning. Read It Here
Hidden Risk in Target Date Funds
Target date funds slowly reduce equity (stock) exposure as a worker reaches retirement age. It’s called a “glide path.” Still, most target date funds leave people highly invested in stocks — and exposed to stock market risk — in the years approaching retirement. But now some experts argue that stock exposure should be reduced far..
New Apps Make Money Easier
The world of financial apps and platforms has grown more creative and clever as a generation that lives without paper gravitates toward digital financial control. Here are three worth reviewing. Read It Here
When Will the Market “Correct”?
The current correction-less period of 17.2 months is by far the longest in this market cycle, which has actually seen 14 declines of greater than 5 percent since this bull market started in 2009 Read It Here
