Terry Savage: Start saving for college now in a 529 plan
The best way to save for college for your children and grandchildren is a 529 college savings plan. And the recent SECURE 2.0 Act legislation created some improvements on this...
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Terry Savage: Advice on managing your spending in the New Year
Some bad news is coming in the mail. Be prepared to face up to it immediately. Open the envelopes — the credit card bills and the brokerage statements. The card...
Terry Savage: How much did you pay in investment costs and fees last year?
How much did you pay in investment costs and fees last year? If you're like most investors, you don't even have a ballpark idea. And those costs can add up...
Terry Savage: Know your money personality
Instead of focusing on the wild gyrations of the stock market, this is a perfect time to look inward and understand your personal reaction to the headlines. And the stock...
Terry Savage: Are we entering a housing recession?
What recession? Americans may be excused for wondering what all the fuss was about. Economic growth turned nicely positive in the third quarter. The stock market rallied, regaining some though...
Terry Savage: Hiding from inflation
The Federal Reserve is fighting it. The markets are fearing it. Investors are figuring out ways around it. Savers are delighting in it because they are finally catching up to...
Terry Savage: Bear market success requires discipline
The stock market has gone through some dramatic volatility in recent weeks, huge declines followed by market rebounds. Swings of 500 points have become an everyday occurrence. And even a...
Terry Savage: T-Bill rates beat CDs
The Federal Reserve continues to push interest rates higher, and that has the stock market in a tizzy. After all, who needs to take the risk in stocks if you...
Terry Savage: It’s time to stop debating the definition of recession and start preparing
We have had economic slowdown warnings from the Federal Reserve and from economists and television financial pundits. And, if that wasn't enough, last week's announcement by FedEx that its shipments...
Terry Savage: Get ready for required minimum distributions
It's time to start thinking about RMDs — those required minimum distributions that you must take from your retirement plans every year, once you reach age 72. Of course, those...