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ow your taxes are due, and that’s the Savage truth

Business / Terry Savage /

The countdown is on. Like seeing Santa in summer, the July 15 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 plan of attack to get your taxes done in the next few days:

—Getting organized

Start by making a big pile of all the tax ...Read more

New SEC regulation aims to improve broker disclosure

Business / Terry Savage /

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 it fails to ...Read more

Long-term care insurance more important than ever

Business / Terry Savage /

One of the most tragic aspects of the coronavirus pandemic is that as of June 3, 42% of all COVID-19 deaths in the U.S. have come from nursing homes or assisted-living facilities. The statistics reinforce every senior’s desire to remain at home in his or her final years, which is only possible if you have the resources to afford this very ...Read more

A second chance at stocks

Business / Terry Savage /

The stock market has retraced practically all of its losses. If you gritted your teeth and rode it out, you have a right to feel smug — or at least relieved. If you panicked and sold near the bottom, you’re likely kicking yourself with remorse.

But now, you get a second chance to revisit your investment choices — something that rarely ...Read more

Terry Savage: A new look at retirement planning

Business / Terry Savage /

The recent economic, financial and social changes in our country have impacted not only our investments and financial planning but our entire view of the future as well. From a personal finance perspective, the current job losses will make it more difficult for many to retire on schedule, send children to college and make mortgage payments on ...Read more

Terry Savage: A new look at retirement planning

Business / Terry Savage /

The recent economic, financial and social changes in our country have impacted not only our investments and financial planning but our entire view of the future as well. From a personal finance perspective, the current job losses will make it more difficult for many to retire on schedule, send children to college and make mortgage payments on ...Read more

Terry Savage: Take a peek at your IRA

Business / Terry Savage /

It’s safe to open your eyes now, and time to take a peek at your IRA. Whether you’re still contributing or thinking about withdrawals, there are some changes to the rules and some opportunities for planning.

RMDs

As part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act, you won’t have to take a withdrawal from your IRA ...Read more

The markets versus the real world

Business / Terry Savage /

If you're a bit confused while watching the stock market rebound while the economy is still sputtering, you're not alone! The simple explanation you'll get from stock market "experts" is that the market always looks toward the future. So, it is anticipating an economic rebound that will take place after the economy reopens.

The second half of ...Read more

Dealing with debt in the pandemic

Business / Terry Savage /

As the coronavirus lockdown wears on, the bills are becoming more frightening. Many people are still waiting for unemployment or stimulus checks to arrive. Others are dealing with cuts in work hours or commissions or tips, resulting in lower income. Here are some ideas on how to prioritize paying those bills.

--Student loans: Federal student ...Read more

Stock market outlook: Bear vs. bull

Business / Terry Savage /

Where will the stock market go from here? That's an important question for millions of Americans who have watched their retirement accounts shrink and then rebound -- and as the ultimate impact of this economic shutdown become less, not more, clear as the days go by.

Here's what a leading bull and a leading bear are forecasting. But first some ...Read more

Stimulus payments: The check is in the mail

Business / Terry Savage /

The check is in the mail. Or in your bank account. Or on the way. Or perhaps, on your card!

The monumental transfer of stimulus payments is now well underway. The IRS, Treasury and Social Security Administration have finally figured out how to organize the process of paying $1,200 to qualifying individuals and additional payments of $500 per ...Read more

Getting your stimulus check

Business / Terry Savage /

When the CARES Act was signed into law on March 27, the headlines were all about the $1,200 stimulus checks ($2,400 for those married filing jointly) that will be given to people who fall within certain income limits, plus $500 for each dependent under 17. The government promised that even people who earned too little to be required to file tax ...Read more

 

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