Terry Savage

  • A little common sense amid market freakouts

    A little common sense amid market freakouts

    This is a perfect time to reflect on some Savage Truths that sadly must be relearned in every economic and stock market cycle. Perspective is essential to investment success And it’s almost impossible to gain perspective in the midst of a crisis. At the top of a bull market, everyone has forgotten...

  • A little chicken money can protect nest egg

    A little chicken money can protect nest egg

    “Chicken money” is money you protect from risk because you can’t afford to lose it. Just about everyone needs some money that is not intended for ordinary spending and not part of their investment program. The amount of chicken money you need depends on your overall financial situation, stage in...

  • Things to do now before tax season

    Things to do now before tax season

    Thinking about income taxes is different this year because of the tax law changes. For some people, tax time will be easier and less costly. They will get a $12,000 standard deduction for an individual return or a $24,000 standard deduction on a joint return. If their charitable contributions and...

  • Remember those in need this year

    Remember those in need this year

    After we express our thankfulness and eat lots of pie, it’s time to move to the season of generosity. Despite changes in the tax code that make it less beneficial to donate to charities, this is the year to give more, not less. Almost every charitable group or foundation is keeping its fingers...

  • Bull market can't last forever, so assess your risk

    Bull market can't last forever, so assess your risk

    If your retirement funds are invested in the stock market, you can’t afford to ignore the signals the market is sending. Any decisions about selling must depend on your risk tolerance, time horizon and overall financial situation. But the time to consider those things is now — at what could be...

  • Carefully review Medicare options

    Carefully review Medicare options

    Medicare has about 60 million enrollees, with roughly two-thirds in traditional Medicare Parts A and B (plus Part D and supplements) and one-third enrolled in the more comprehensive Medicare Advantage plans. Every Medicare participant should review his or her options during the Medicare open enrollment...

  • Freezing your credit now is free

    Freezing your credit now is free

    More than a year has passed since the massive data breach at Equifax that put highly sensitive information about 148 million Americans at risk. It sent many people scrambling to freeze their credit reports or place fraud alerts and subscribe to credit monitoring services. Consumers no longer have...

  • Get real with kids about cost of college

    Get real with kids about cost of college

    Now that students are back in school, it’s time for parents (and grandparents) to take a breath and gain some perspective on the costs and benefits of a college education. Yes, college can pay off in the long run. But you may be doing yourselves and your children a disservice with magical thinking...

  • What to look for in short-term health insurance

    What to look for in short-term health insurance

    Short-term health insurance policies have become more attractive, thanks to a federal rule change that now allows policies to be sold for almost a full year and possibly be extended for 36 months. These short-term insurance policies are a great solution for anyone between jobs or who doesn’t have...

  • Yes, you can find a little money to invest

    Yes, you can find a little money to invest

    Twenty years ago, the Roth IRA was born as a product of the Taxpayer Relief Act of 1997. Unlike with traditional IRAs, you don’t get a tax deduction for your contribution to a Roth IRA. But all the money in the account, including gains, can be withdrawn tax-free at retirement. If only you had jumped...

  • What to know before buying a diamond ring

    What to know before buying a diamond ring

    Perhaps it’s the afterglow of the royal wedding, or maybe because June is the season for brides. But our attention has turned to diamonds. If you’re about to pop the question and present a diamond, there’s much more to consider these days in making your choice — and multiple ways to make that purchase....

  • Retirement account fees take big bite over time

    Retirement account fees take big bite over time

    Your financial adviser may make as much money from your retirement account as you do. That’s what happens when advisers put you into mutual funds that perform well but charge excessive fees along the way. Those fees can add up — especially when you consider what you could have earned along the...

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