Terry Savage: Don't try to beat the market; be the market

Business / Terry Savage /

So you think you can beat the market? You watch business television all day and sign up for expert newsletters. You stay ahead of the “game” in understanding what’s next in technology, and you chat in online forums exchanging ideas with others “in the know.”

How well are you doing so far? Since the start of the year, the S&P 500 is up...Read more

Terry Savage: Debt in retirement causes real trouble

Business / Terry Savage /

There’s a personal debt crisis coming. I see it in the posts on the “AskTerry “ section of my website, These stories go beyond the frightening national statistics to reveal the human costs. Especially for seniors.

Americans are now carrying more than $1 trillion in credit card debt — a new record. And the average ...Read more

Turning Points

Business / Terry Savage /

Summer is over and autumn is here. You’re not surprised to see Halloween candy on the shelves of your local WalMart. Fall is just part of the cycle of nature, predictable in general — although we still may suffer with some high-temp days and nights. Summer is over.

If we’re not surprised by the cycles of nature, why should we be surprised...Read more

Terry Savage: Surviving a Recession

Business / Terry Savage /

Will you be able to survive a recession? The odds are rising that a recession will arrive sooner rather than later. In fact, here are a few signs a recession could be just around the corner.

—Credit card delinquencies are rising. Credit card debt in America has now topped $1 trillion for the first time ever. Even worse, the rate of card ...Read more

Terry Savage: Help for the aging

Business / Terry Savage /

Approximately 27% of U.S. adults aged 60 and older were living alone in 2020, according to the Pew Research Center — and that number is growing every day as baby boomers reach retirement age. There are so many resources available to seniors. But those living alone — or their adult children — might not know where to find them.

So in this ...Read more

Terry Savage: High rates for how long?

Business / Terry Savage /

Do you have “chicken money” — money that you want to protect from risk? If so, it should be in short-term CDs, money market accounts or short-term Treasury bills — IOUs from the federal government. Those are the safe places to stash your cash.

When interest rates were quite low just a few years ago, savers were actually punished for ...Read more

Terry Savage: Lost health insurance

Business / Terry Savage /

How would you feel if you suddenly lost your health insurance? Frightened? Vulnerable?

Well, 4 million Americans, including families with small children, have just faced that terrifying reality. All were on state Medicaid programs, many joining during the pandemic when they lost their jobs and their insurance coverage. Despite returning to work...Read more

Terry Savage: New hope for those struggling with student loan debt

Business / Terry Savage /

Get ready for a budget shock. You knew it was coming — the onset of student loan repayments. But did you realize what a dent it was going to make in your budget? A new study just released by the credit bureau TransUnion has details. And it shows that the burden of resuming debt payments may be the straw that derails the Fed’s soft economic ...Read more

Terry Savage: Choosing the right retirement account

Business / Terry Savage /

Look into your crystal ball and decide whether you will be in a lower tax bracket when you retire. The future is cloudy. We used to assume that when your paycheck stops, your tax bracket drops. But that might not be the case in the future.

A long bull market has swelled the 401(k) accounts of today’s pre-retirees. And now that required ...Read more

Terry Savage: Boring summer is no time to slack on financial planning

Business / Terry Savage /

The financial markets are in their most boring summer days as I write this column. Even news about unemployment and interest rates doesn’t seem to rock the stock market. The long-awaited recession appears elusive, and inflation appears to be waning.

Meanwhile, the anchors on financial TV programs are struggling to create interest in their ...Read more



1 and Done Mutts Ed Gamble Walt Handelsman Diamond Lil BC