Terry Savage

  • Now is the time to talk to aging parents about money issues

    Now is the time to talk to aging parents about money issues

    The holiday season is a time for families to get together and celebrate. But as the years race by, we might not be willing to notice the signs of aging in our parents — or ourselves. This is a time to take a closer look. The idea is not to cast gloom upon your holidays, but to get prepared and...

  • Lessons of past bear markets

    Lessons of past bear markets

    There will be another bear market. You can count on it, but you can’t be certain when it will start. The other thing you can count on is that it will have a huge impact on your investments and your retirement plans. If you are still in the accumulation phase of your life, the next bear market will...

  • Think about your pet when making estate plan

    Think about your pet when making estate plan

    Have you made plans for your pets in case you die before they do? Sadly, there are 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, and estate planning for your pet doesn’t have to involve a lot of money. I’m...

  • Smart moves to make in wake of Equifax breach

    Smart moves to make in wake of Equifax breach

    Equifax knows you, even if you don’t know Equifax. It’s one of the three large credit bureaus that collect information on all your financial transactions from banks, credit card companies, merchants, mortgage lenders, landlords and utilities — just about every company to which you make payments...

  • Single women face retirement challenges

    Single women face retirement challenges

    More women are spending more time living alone. And that’s having a big impact on retirement planning. A new study from the Center for Retirement Research at Boston College shows that in each of four age cohorts studied, the percentage of adult years that women spent married has dropped dramatically....

  • Target date funds may leave you at risk

    Target date funds may leave you at risk

    Will your retirement money last as long as you do? That's the essential financial planning question for those approaching retirement. And there is no easy, one-size-fits-all formula to make planning easy. In fact, most of those traditional easy answers have been thrown out by sophisticated financial...

  • Understand your emotions to make better financial decisions

    Understand your emotions to make better financial decisions

    All the rational financial discussions in the world won’t get you to your goals if you don’t understand the role your emotions play when it comes to money. That thought came to mind as I wrote a recent column about stock market diversification. I wondered how many people would have the discipline...

  • Get savvy about student-loan repayment

    Get savvy about student-loan repayment

    Americans owe more than $1.34 trillion on student loans — more than credit card debt or car loan debt. Yet it seems that many student loan borrowers are woefully uneducated about how to repay that debt. In fact, far too many fall victim to student loan debt repayment scams. Illinois Attorney General...

  • Five financial tasks for summer

    Five financial tasks for summer

    It’s hard to write a column about money in July. Everyone is mentally on vacation and reluctant to concentrate on financial matters, unless there’s an emergency. The lazy days of summer are not conducive to taking on money projects. But here are five easy things you could do this summer to help...

  • What paperwork you should be saving

    What paperwork you should be saving

    It’s important to be organized and thoughtful when doing a cleanup, so you don’t throw out important papers that might one day help prove you don’t owe taxes. Storing financial records doesn’t necessarily involve stacking boxes of records in your closet. Think digitally. You might want to scan...

  • Pay attention to new retirement account fees

    Pay attention to new retirement account fees

    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 at the expense of vulnerable American investors. The concept of the fiduciary rule is simple and logical. Any salesperson...

  • Rebalancing portfolio takes discipline

    Rebalancing portfolio takes discipline

    Buying and holding a diversified portfolio of American stocks — such as the S&P 500 stock index — has been a winning strategy over the long run, beating most managed mutual funds and investment adviser recommendations. But what happens if it’s too successful? That’s actually a problem you might...

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