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Creative strategies for buying long-term care insurance

Business / Terry Savage /

The cost of long-term care (LTC) insurance is the price of peace of mind. It’s that simple. The price may be too high for many to pay. But before making that decision, you need to understand some creative strategies for buying LTC insurance that may make it more affordable.

First, a review of the basics. Medicare and supplements do NOT cover ...Read more

Terry Savage: Off to college

Business / Terry Savage /

If you’re one of the millions who will head off to college in the next few weeks, here’s some practical financial advice to make sure you get off to the right start.

Eva Dodds is an accredited and experienced college adviser. Her company RootCollegeAdvising.com helps families start preparing for college well in advance, with advice on ...Read more

Terry Savage: Series I bonds - Everything you must know

Business / Terry Savage /

In an era of low CD rates, Series I savings bond rates are astounding — currently 9.62%! Interest rates on Series I bonds are adjusted every six months to reflect inflation.

From May 1 through November 1 the interest on I bonds is 9.62%! That rate will be paid on all I bonds purchased during this period for the succeeding six months, whether ...Read more

Terry Savage: The financial impact of Alzheimers’ disease

Business / Terry Savage /

Confronting the possibilities that you or a loved one will one day suffer from dementia or Alzheimer’s is a prospect too terrible to consider. That’s why the book “Don't Let Dementia Steal Everything: Avoid Mistakes, Save Money, and Take Control” (American Bar Association, 2018) by famed attorneys Kerry Peck (PeckRitchey.com) and Rick ...Read more

Matching the markets

Business / Terry Savage /

As I write this column, the markets can’t seem to make up their mind about whether the greatest threat is inflation or recession. Commodity prices of everything from oil to copper and lumber have fallen sharply on fears of an economic slowdown in the United States. The 10-year Treasury note, on which mortgage rates are based, has fallen from 3...Read more

Terry Savage: Your 401(k) statement is about to shock you

Business / Terry Savage /

Your second-quarter 401(k) retirement plan statement should arrive in the mail any day now. Be prepared for some big surprises.

Everyone starts by looking at their account balance. Be prepared. It will be dramatically lower — especially when compared to your 2021 year-end valuation. The second quarter was one of the worst on record for stocks...Read more

Is housing heading for trouble?

Business / Terry Savage /

The stock market has tumbled, and bitcoin has stumbled. But the one financial asset that has held up — so far — is the price of the family home. In fact, in the last year the Zillow Home Index, which measures the price of the middle tier of U.S. homes, has risen 20.7%. Plus, you got to live in your home while it appreciated.

Of course, the ...Read more

Terry Savage: Fixing inflation

Business / Terry Savage /

There is absolutely no doubt anymore. Inflation is deeply embedded in the economy. The recent report of inflation at 8.6% in May is the highest since 1981. The only question is what can be done about this punishing tax that hits hardest at low-income families and seniors on fixed incomes.

What will it take — and how long will it take? And how...Read more

No time like the present to get a job

Business / Terry Savage /

The economy is still growing nicely and more people have joined or rejoined the labor force, with nearly 400,000 new jobs added in the most recent month. One — or even two — of those jobs should be yours!

With daily consumer costs rising and the stock market falling, retirees suddenly realize their plans could be upended. Younger families ...Read more

How to Do a Rollover

Business / Terry Savage /

You worked so hard to accumulate all that money in your 401k plan. And a huge bull market helped. But when you retire or move to a new job, you might be much better off doing an IRA Rollover.

The best reason to do a rollover is that the investment choices in 401(k) plans — as well as 403(b) and 457 plans — are mostly designed for younger ...Read more

VA loans remain a terrific bargain for vets

Business / Terry Savage /

Memorial Day is a reminder to honor the service of our veterans. It is also a good time to take another look at VA mortgage loans. Now that rates are rising, VA loans have become even more attractive. If you ever served in the military and are considering buying or refinancing a home, your eligibility never expires and you can apply for VA loans...Read more

Anatomy of a Bear Market

Business / Terry Savage /

It’s been a long time since we had a real bear market, and memories of pain fade amid subsequent gains. For a generation of recent investors, and those with short memories, some perspective is in order.

In the past 3 years, the entire stock market outperformed its historic averages. Over the past 75 years, the average annual return of the S&P...Read more

 

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