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Terry Savage: A widow’s guide to financial recovery

Business / Terry Savage /

On average, women live longer than men. It’s an actuarial fact known by every insurance company and financial planner. At age 65, the life expectancy of a woman is 20 years, while men at the same age have a life expectancy of 17 years.

So, it stands to reason that the 2020 Census Bureau reports that there were 11,271,000 widows in the United ...Read more

Terry Savage: Time-Sensitive Column Updates

Business / Terry Savage /

Today's column focuses on two time-critical updates on recent columns. The first is for younger families who are seeking financial aid for college through the FAFSA form. The second is for seniors who want to rethink their Medicare Advantage programs. Time is running out for both!

Millions of students and their parents are still caught up in ...Read more

You can't plan a retirement without understanding longevity

Business / Terry Savage /

Here’s a personal question: How long do you think you’ll live? Most people will roll their eyes, believing that only a higher power has the answer to that question. It’s an imponderable. Why bother asking, since it makes us so uncomfortable?

We know the longevity statistics, which tell us that a girl born today is predicted to live to age...Read more

Terry Savage: Insurers' losses to squeeze Advantage plans

Business / Terry Savage /

Medicare Advantage is causing huge losses for insurers like Humana, which recently reported a surprising loss, attributed to higher than anticipated spending in Advantage plans. The company’s stock immediately fell 22% on Jan. 25 on the news, as the company disclosed their earnings would likely be less than half what had been widely expected. ...Read more

Terry Savage: Will rate cuts keep stocks soaring?

Business / Terry Savage /

The good news is in the headlines. On the same day that the S&P 500 stock index hit all-time highs, consumer confidence (the University of Michigan’s consumer sentiment index) climbed dramatically to 78.8 from 69.7 in December. This is the second month in a row that the index has seen a strong gain, and the index is now at the highest level ...Read more

Terry Savage: Is Bitcoin for you?

Business / Terry Savage /

Bitcoin is making headlines, as the regulators have finally approved a way to “invest” that doesn’t require a crypto wallet, an unregulated “exchange” intermediary and a “crypto key” that might be easily lost or stolen. In short, Bitcoin has joined the league of major asset classes now that Bitcoin exchange traded funds (ETFs) will...Read more

Terry Savage: Prepare for FAFSA headaches

Business / Terry Savage /

There’s a problem with FAFSA. If you’re a high school senior now applying for college, you should already be in the process of applying for financial aid. In fact, as acceptances start to roll in, the amount of each school’s financial aid package might be the deciding factor in which institution you and your family choose.

Typically, your...Read more

Terry Savage: Top 10 money things to do right now

Business / Terry Savage /

You started the year with such good intentions. But did you write down the most important things to accomplish in 2024, financially. Did you set some goals? Or were those fleeting ideas that faded with the New Year’s hangover?

There’s an old Savage Truth: “A goal without a plan is just a dream.” So it’s not too late to get started on ...Read more

How to protect yourself from fraud

Business / Terry Savage /

Don’t count on your bank to replace your money if you’ve been taken by a scam. It all depends on the bank’s investigation of how the money was removed. And most major banks are taking a tough line on reimbursements these days. So if you were scammed into giving out your PIN or transferring money, the odds are you’re out of luck.

The key...Read more

Terry Savage: Student loan forgiveness deadline approaches

Business / Terry Savage /

Don’t miss out on the December 31 deadline for consolidating your federal student loans — and possibly saving a fortune in interest, or having your balance completely forgiven! It’s called the One Time IDR Account Adjustment and you can manage the entire process online at StudentAid.gov.

The fast-approaching deadline for this one-time IDR...Read more

Terry Savage: The gift of organization

Business / Terry Savage /

The gift of financial peace of mind is priceless. And it all starts with organization. Instead of waking up in the middle of the night worried about money and bills, wouldn’t it be amazing to feel in control of your finances?

The first step in getting to your goal is to get organized. And this is the perfect time to get started on that ...Read more

Terry Savage: Securing the future for a child with disabilities

Business / Terry Savage /

Could you make a financial plan to provide for three instead of just two lifetime retirements?

That’s exactly the challenge facing parents of children with disabilities, according to Mary Anne Ehlert, founder of ProtectedTomorrows.com. These families must plan not only for their own retirement but also for the lifetime care of a person who ...Read more

 

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