Terry Savage is a nationally known expert on personal finance and a regular television commentator on CNN, CNBC, PBS, and NBC on issues related to investing and financial markets. She is the nationally syndicated Chicago Sun-Times personal finance columnist. Her fourth book, published in June, 2005, is The Savage Number: How Much Money Do You Need to Retire? It has received praise from investment gurus like James Cramer, Jim Rogers, and Bob Brinker. Terry offers advice ranging from investments to withdrawal calculations to long term care insurance --to make sure your money lasts as long as you do! Her previous best-seller, The Savage Truth on Money, was named one of the ten best money books of the year by Amazon.com, and was made into an hour-long television special which aired on PBS. Terry is a frequent guest on national radio and television shows ranging from PBS' Nightly Business Report to CNN and CNBC. She's appeared several times on Oprah! And she's the regular substitute host of the nationally syndicated Bob Brinker radio show on ABC radio. Terry's financial expertise comes from experience. She started her career as a stockbroker, and became a founding member -- and the first woman trader -- on the Chicago Board Options Exchange. Savage was also a member of the Chicago Mercantile Exchange's International Monetary Market where she traded interest rate contracts and currency futures. She is a registered investment advisor for both stocks and futures. Terry Savage has won numerous awards, including the National Press Club award for Outstanding Consumer Journalism, and the Outstanding Personal Finance Columnist award given by the Medill School of Journalism at Northwestern University and two Emmys for her television work. Savage takes an active role in America's business community. She serves on the Board of Directors of the Chicago Mercantile Exchange (NYSE) and previously served on the boards of McDonald's Corporation for 14 years and Pennzoil-Quaker State Corporation for 5 years. She was a recipient of the Director's Choice Award honoring selected women who serve on America's top corporate boards. Savage is involved in Chicago's civic affairs, serving as a director of The Executives' Club of Chicago, Junior Achievement of Illinois and the Northwestern Memorial Hospital Foundation. She is a Phi Beta Kappa graduate of the University of Michigan where she won a Woodrow Wilson Fellowship in American history and economics. http://www.townhall.com/columnists/TerrySavage http://media.townhall.com/TownHall/icons/TH-feed-icon-128x128.gif http://www.townhall.com/columnists/TerrySavage TownHall.com, Where your opinion counts. 128 Copyright (c) 2012 Townhall.com, A Salem Communications Web. ALL RIGHTS RESERVED jim.dearras@townhall.com (Jim De Arras) Tue, 20 Dec 2011 05:01:00 GMT Tue, 20 Dec 2011 05:01:00 GMT http://blogs.law.harvard.edu/tech/rss RSS.NET: http://www.rssdotnet.com/ Have you been rushing to get everything done this holiday season? Perhaps you're headed off to a vacation in warmer climes -- or maybe it's just getting prepared for a few days at home with your family. In either case,... http://www.townhall.com/columnists/TerrySavage/2011/12/20/remind_lawmakers_of_the_job_they_have_to_do 329d9133-a31c-4a8d-8312-1ba05c2cd7e1 Tue, 20 Dec 2011 05:01:00 GMT The World MoneyShow came to Chicago recently, bringing thousands of curious investors to hear speeches and attend seminars and workshops on almost every aspect of investing. It's a spin-off of the famed Las Vegas and... http://www.townhall.com/columnists/TerrySavage/2011/11/01/moneyshow_shows_fresh_ideas_for_investments b4e52a85-ff04-4e16-b9c6-952576fac08e Tue, 01 Nov 2011 04:01:00 GMT With student loan debt making headlines, this is a reminder to spring graduates that you must start dealing with your debt before the six-month grace period runs out. Here's the universal question: If I graduated this... http://www.townhall.com/columnists/TerrySavage/2011/10/28/recent_grads_must_face_up_to_student_loan_debt 3b415203-4296-4162-b4bd-5ee8d63c523b Fri, 28 Oct 2011 04:01:00 GMT What a difference a day makes, or even a week. It was little more than a week ago -- Oct. 3 -- that the Dow Jones industrial average closed at 10,655. An early sell-off the following day pushed stocks into bear market... http://www.townhall.com/columnists/TerrySavage/2011/10/11/rally_shows_why_you_keep_a_steady_hand e7468f1f-d198-4272-9b23-1df5fda47f6b Tue, 11 Oct 2011 04:01:00 GMT Normal 0 false false false MicrosoftInternetExplorer4 st1\:*{behavior:url(#ieooui) } /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0 http://www.townhall.com/columnists/TerrySavage/2011/08/16/debt_crisis_looms_at_local_level_--_are_you_in_a_sinkhole_state 72a116d3-2998-45aa-acfe-b6c748948419 Tue, 16 Aug 2011 04:01:01 GMT Q. What's going on in the financial world? And what should I do? A. These are the two questions I have been asked repeatedly over the past week. The volatility of the markets is frightening and baffling to many. The... http://www.townhall.com/columnists/TerrySavage/2011/08/12/whats_happening_in_the_financial_world,_and_what_you_should_do a478329c-414b-46b6-961d-709042111c3c Fri, 12 Aug 2011 04:01:00 GMT Q: Because I was out of work for nearly a year, I have so much credit card debt that I can never repay it. What's better -- credit counseling, debt negotiation or bankruptcy? A: It's important to know the difference... http://www.townhall.com/columnists/TerrySavage/2011/07/03/debt_crisis_strategies 63439ee9-4caa-4c6f-9dea-784821d1fb54 Sun, 03 Jul 2011 04:00:00 GMT What happened to the oil market? Must be those "manipulators" again! On April 21, 2011, President Barack Obama announced a task force to investigate "manipulation" of the oil market. Well,... http://www.townhall.com/columnists/TerrySavage/2011/06/25/so_whos_manipulating_the_oil_markets_now e5cc5d86-290a-4fae-b940-fde3f921d2cd Sat, 25 Jun 2011 04:01:00 GMT Q: I am going to Europe next month with a group. We were discussing the best and least expensive way to change our dollars into euros. Any advice would be appreciated. A. That's a very timely question! As you know,... http://www.townhall.com/columnists/TerrySavage/2011/05/17/atms_best_option_to_change_currency b1fb5c6c-1d7e-4ac6-a7fb-9d1315848f6d Tue, 17 May 2011 04:01:00 GMT If your family includes a high school senior who is planning to attend college, the past four months have been a nightmare of paperwork -- starting with FAFSA and right on through the application process. Then came the... http://www.townhall.com/columnists/TerrySavage/2011/05/06/college_tips_stay_in-state_and_search_for_best_financial_aid_package 93b67449-6504-4a6a-98b9-c85daa6c6f44 Fri, 06 May 2011 04:01:01 GMT Social Security Says Bye to Paper Checks -- But Do Not Fear Q: My elderly mother received a notice that she will no longer get a Social Security check, but that her monthly amount must be deposited into her bank... http://www.townhall.com/columnists/TerrySavage/2011/04/30/what_the_fed_head_said 68e90ca9-2a36-4846-9767-1a36fc9ac4f8 Sat, 30 Apr 2011 04:01:00 GMT The emperor has no clothes! The U.S. may have trouble repaying its debt! Finally, someone had the audacity -- and the power -- to tell the truth. And the truth made a big difference in the global financial markets on... http://www.townhall.com/columnists/TerrySavage/2011/04/23/us_debt_finally_draws_serious_warning ff38ae20-b0b6-462d-9b5d-a2893e84d2f7 Sat, 23 Apr 2011 04:01:00 GMT In about a week, your 2010 tax return is due. Are you ready? Here are a few last-minute tax tips. And the first one is an old Savage Truth: Haste makes waste! Sure, you should be working on your taxes right now --... http://www.townhall.com/columnists/TerrySavage/2011/04/12/tip_for_last-minute_tax_filers_take_time_to_do_it_right 6e399343-e34f-49b4-8576-d1c51d87d288 Tue, 12 Apr 2011 04:01:00 GMT This column is devoted to making sense out of money issues. But some money topics seem to defy logic. And, not surprisingly, most of those illogical money issues revolve around government actions. I'm always wondering... http://www.townhall.com/columnists/TerrySavage/2011/04/11/on_money,_government_defies_logic 98f5d8b8-a768-4c0e-a7bd-29cf3725bfce Mon, 11 Apr 2011 11:48:18 GMT It's the most basic concept in economics: supply and demand. And it works, whether you're talking about the price of oil or corn -- or cars. Toyota has announced that it plans North American plant shutdowns because of... http://www.townhall.com/columnists/TerrySavage/2011/03/28/buy_car_now,_before_prices_surge 83f5b712-e2b2-439d-a05b-b296c058b1e9 Mon, 28 Mar 2011 04:01:00 GMT Q: How will the devastation in Japan impact the global economy, the markets and my financial future? A. This is a question I've received many times in the past few days. While acknowledging that it's more than a bit... http://www.townhall.com/columnists/TerrySavage/2011/03/21/japans_impact_on_economy 61d5ddc7-ec8d-46f9-9c0c-eb675a1ccbee Mon, 21 Mar 2011 13:29:34 GMT Every great American company started out as an idea in the mind of a creative, entrepreneurial person. In addition to having that unique creative idea, a lot of hard work -- and a lot of luck or good timing -- go into... http://www.townhall.com/columnists/TerrySavage/2011/03/15/wall_streets_playing_field_on_trial fbb3f613-19fb-4223-baaf-e788e83bf6b2 Tue, 15 Mar 2011 12:06:23 GMT The word "inflation" has been in the headlines recently because of the rising price of oil and other commodities ranging from corn to cotton, from coffee to copper. But inflation is more than just rising prices. It's... http://www.townhall.com/columnists/TerrySavage/2011/03/08/stagflation_is_the_worst_of_all_worlds 20a9be2a-a449-4a08-813d-58813983a515 Tue, 08 Mar 2011 13:25:52 GMT Q: I have a fixed-rate mortgage at 5.99 percent that doesn't have to be refinanced until 2016. I know I will want to move to a more suitable place before then, but if I sell now at current low prices, I will have very... http://www.townhall.com/columnists/TerrySavage/2011/03/07/time_to_buy_a_new_home_not_until_you_sell_the_current_one! dd764114-7573-47b8-af0d-575cd38baf1e Mon, 07 Mar 2011 12:02:20 GMT From Athens to Madison, there are protests in the streets over promises made that cannot be kept. They were the promises of a better economic future, made by politicians who could not deliver -- and did not expect to be... http://www.townhall.com/columnists/TerrySavage/2011/03/01/pols_are_making_us_pay_for_their_false_promises 71074da3-bd01-4965-84be-39678b3d229a Tue, 01 Mar 2011 05:01:00 GMT Q: My son is headed off to college this fall. I don't think we'll qualify for aid, so should we bother filing the FAFSA form? A: You'll never know until you try whether you will qualify for financial aid. Unless you... http://www.townhall.com/columnists/TerrySavage/2011/02/28/always_worth_a_try_to_apply_for_financial_aid 97993e7a-8dfe-42cd-b33d-f2a907162871 Mon, 28 Feb 2011 05:01:00 GMT ORLANDO, Fla. -- Every year the huge MoneyShow takes place here in February. A huge exhibit hall is packed with investment opportunities and advice. Exhibitors range from mutual fund giant Fidelity to small gold mining... http://www.townhall.com/columnists/TerrySavage/2011/02/22/uncertainties_cant_quash_the_bulls_at_moneyshow 99d4cc5f-51e8-49ad-b59f-b597a3a79637 Tue, 22 Feb 2011 05:01:00 GMT If you know a senior homeowner who is running out of money, a reverse mortgage might generate enough cash to allow them to stay in their home for many more years. Last fall, the Federal Housing Administration created... http://www.townhall.com/columnists/TerrySavage/2011/02/08/understand_reverse_mortgage_options aa42c303-1b57-4877-8514-8953f044e8af Tue, 08 Feb 2011 05:01:00 GMT I have often written about the importance of having long-term care insurance -- policies that pay for home care or assisted living or nursing home care -- in case you are unable to independently manage the basic... http://www.townhall.com/columnists/TerrySavage/2011/02/02/long-term_care_combined_with_life_insurance_solves_problems 232c8cdd-dcf4-47d1-947d-b2ee2eb4fb0b Wed, 02 Feb 2011 05:01:00 GMT The economy is coming back for 2011 -- and so should you. Come back to believing in the future again. Come back to planning and investing for the future. Come back to strategizing for your education, and your career,... http://www.townhall.com/columnists/TerrySavage/2011/01/29/survival_and_recovery_a_personal_financial_strategy_guide_to_2011 dbd5328c-c600-49e1-82d5-0fefc1818afa Sat, 29 Jan 2011 05:01:00 GMT Do you own a target-date mutual fund in your 401(k) plan or Individual Retirement Account? If you do, you should understand how target-date funds work. And if you don't own one now, you might want to consider adding one... http://www.townhall.com/columnists/TerrySavage/2011/01/25/targeting_retirement b7e3a13a-ae2c-48a7-9a9b-6ccf39663b2e Tue, 25 Jan 2011 05:01:00 GMT Fear of being a "bag lady" is the secret worry of every older woman. I've written and talked about this before, and the subject always gets a nod or a grimace of recognition. No woman wants to be a burden on her... http://www.townhall.com/columnists/TerrySavage/2011/01/18/prospects_bleak_for_widows_living_only_on_social_security 39202caf-9c22-42ea-93ea-a1d467a3325c Tue, 18 Jan 2011 05:01:00 GMT This is the perfect week to get organized for the new year. And every year, you promise to be better organized -- for your taxes, for your investments, for your retirement planning -- and just for the sake of your... http://www.townhall.com/columnists/TerrySavage/2011/01/11/now_is_the_perfect_time_to_organize_your_finances 481a3eb2-eada-40be-a5ed-aee4bae185e8 Tue, 11 Jan 2011 05:01:00 GMT What will happen to the economy and the stock market and interest rates in 2011? This is the season for forecasts and prognostications. But that's not what most people are thinking about when they wonder what's in their http://www.townhall.com/columnists/TerrySavage/2011/01/04/turn_negativity_of_today_into_future_of_promise e9bed8a0-e6fa-4023-b9cb-098893fcd457 Tue, 04 Jan 2011 05:01:00 GMT You'll have more money in every paycheck next year as part of the year-end tax deal. Don't spend it! That was money that should have gone to Social Security, but everyone knows that's a fiction. So instead of... http://www.townhall.com/columnists/TerrySavage/2010/12/28/tax_cuts_let_you_boost_retirement_savings 08a9615c-b6e9-4ca9-a1ea-c19a4e53105e Tue, 28 Dec 2010 05:01:00 GMT If you're still stuck finding a gift for someone in your family, here are a few suggestions. Unlike most of the "deals" you'll find, these aren't sold at a discount. But one day they could become more valuable, either... http://www.townhall.com/columnists/TerrySavage/2010/12/21/put_an_investment_gift_under_the_tree_this_year 3274959f-6f6c-4047-b52d-7e795c3c0920 Tue, 21 Dec 2010 05:01:00 GMT Demand is up; supply is down. Not talking about the markets here, or the hottest Christmas toy. This is the problem afflicting the nation's charities. The recession continues to take its toll, with more people in... http://www.townhall.com/columnists/TerrySavage/2010/12/14/its_a_holiday_season_of_sharing_with_those_in_need ccb5565a-b0fc-42a3-9e30-9abf1f15c365 Tue, 14 Dec 2010 05:01:00 GMT Demand is up; supply is down. Not talking about the markets here, or the hottest Christmas toy. This is the problem afflicting the nation's charities. The recession continues to take its toll, with more people in... http://www.townhall.com/columnists/TerrySavage/2010/12/08/its_a_holiday_season_of_sharing_with_those_in_need 60801caf-951a-4ac7-afe0-c1584c939dad Wed, 08 Dec 2010 05:01:00 GMT Only five years after the name "Cyber Monday" was coined, it has come to symbolize an online shopping binge -- mostly done from workplace computers. By last year, more than 96 million Americans shopped online... http://www.townhall.com/columnists/TerrySavage/2010/12/07/do_your_homework,_cyber-shoppers d4ffa588-42cb-46d6-ae76-571065ab65f1 Tue, 07 Dec 2010 05:01:00 GMT What hit the stock market? That's what investors are asking after the recent decline, which left the Dow just barely over 10,000 and the S&P 500 at 1,071 -- both breaking significant historical support levels. The... http://www.townhall.com/columnists/TerrySavage/2010/05/24/wave_of_uncertainty_takes_toll_on_market 10972cbd-4288-486f-8168-e9bfd125a433 Mon, 24 May 2010 21:17:35 GMT Q: What's all this talk about "circuit breakers" for stock trading? Would it stop big declines? Will it make the market safer? A: While the Securities and Exchange Commission has not yet found, or disclosed, the cause... http://www.townhall.com/columnists/TerrySavage/2010/05/20/breaks_help,_but_cannot_stop_panic 74f7c811-58da-48a3-b810-0bff606c4b8a Fri, 21 May 2010 02:39:05 GMT It isn't working. They can throw all the euros -- and dollars -- they want at the Greek financial situation. But the markets won't believe it. The euro is heading straight down toward parity with the U.S. dollar.That... http://www.townhall.com/columnists/TerrySavage/2010/05/17/dollar,_euro_no_match_for_the_glitter_of_gold 02749e17-ab40-4bc7-a61d-c51e4e640e46 Tue, 18 May 2010 01:05:47 GMT The recent market "glitch" was shocking to behold in real time. As it happened, I was in the boardroom of the Chicago Mercantile Exchange when the slide started. The huge room is equipped with screens that can be viewed... http://www.townhall.com/columnists/TerrySavage/2010/05/12/high-tech_solutions_needed_to_avert_panic f5c6c89c-edd0-4169-bda4-50152f98e8dc Wed, 12 May 2010 15:38:49 GMT Why do the world financial markets care so much about what happens to Greece and their financial situation? They're rioting in the streets in Athens, global stock markets are falling sharply, and the word "default"... http://www.townhall.com/columnists/TerrySavage/2010/05/06/why_greece_matters ce2a27f5-83bf-431f-a3ca-3922717d0c7f Thu, 06 May 2010 23:06:10 GMT The mortgage problem is overwhelming the economic recovery. Foreclosures destroy the market for new homes and the jobs that home-building creates. Families are destroyed and hopes are shattered, while the foreclosure... http://www.townhall.com/columnists/TerrySavage/2010/05/03/heres_an_easy_solution_to_our_mortgage_mess 178a6bb3-ce4c-4dce-b3e2-b83c7a209b9e Tue, 04 May 2010 00:06:29 GMT Main Street Americans are justifiably angry at Wall Street because of the revelations that many financial firms may have had an unfair edge in the markets and the economy. Sadly, the results might lead to new... http://www.townhall.com/columnists/TerrySavage/2010/04/26/reforms_gone_wild_could_affect_rebound 07b851db-7e4b-42d0-9244-ed5ff8b5c84a Mon, 26 Apr 2010 23:18:17 GMT Q: My daughter is a college senior who will be graduating in May and doesn't have a job. My company says at that point she is off our family health insurance. She doesn't have a job, so what should we do? A: Health... http://www.townhall.com/columnists/TerrySavage/2010/04/22/how_to_keep_adult_students_insured 1ee9383c-be51-4b8a-bd8c-25ef78b36ab6 Thu, 22 Apr 2010 21:02:32 GMT Beware debt settlement firms. That's a warning I've sent out several times in recent columns. But like crabgrass in spring, they're spreading fast all over the country. The radio commercials are tempting -- telling you... http://www.townhall.com/columnists/TerrySavage/2010/04/20/debt_settlement_bill 2b460176-085d-4cff-a49b-8c9be2ba9b0e Tue, 20 Apr 2010 04:01:00 GMT It is absolutely disgusting. If Goldman Sachs is guilty of the charges brought by the Securities and Exchange Commission, these greedy pigs deserve every fine and loss of stock value that the government and the markets... http://www.townhall.com/columnists/TerrySavage/2010/04/19/sec_makes_goldman_poster_child_of_greed c1140eb9-db24-4e5b-883b-1c235cc827bd Tue, 20 Apr 2010 01:45:12 GMT The stories of desperate homeowners are heart-rending. In spite of their best efforts, and in spite of government plans and bank announcements, they're caught in a never-ending cycle of paperwork and red tape as they... http://www.townhall.com/columnists/TerrySavage/2010/04/13/help_for_homeowners_in_the_foreclosure_battle 5b024201-b143-4d75-bf4a-e5662a03b26e Tue, 13 Apr 2010 04:01:00 GMT Q: I'm fed up with low interest rates that the banks are offering. Someone suggested I buy municipal bonds and get a return of at least 5 percent -- tax free! Should I do that? A: I'm sure you remember the Savage... http://www.townhall.com/columnists/TerrySavage/2010/04/10/how_to_evaluate_investment_risks e3e90ad9-556a-41a7-ba01-21e6f27ce305 Sat, 10 Apr 2010 04:01:00 GMT Q: I'm fed up with low interest rates that the banks are offering. Someone suggested I buy municipal bonds and get a return of at least 5 percent -- tax free! Should I do that? A: I'm sure you remember the Savage... http://www.townhall.com/columnists/TerrySavage/2010/04/10/how_to_evaluate_investment_risks 433e6392-00b3-488f-9d34-050d14893084 Sat, 10 Apr 2010 04:01:00 GMT The government is giving it one more try -- making a new effort to help homeowners who are facing foreclosure. The HAMP -- Homeowners Affordable Modification Program -- has been thrown into the laundry hamper. Now it... http://www.townhall.com/columnists/TerrySavage/2010/04/06/us_rolls_out_another_mortgage_aid_plan 6f186a9b-49f0-4ecd-8ff5-47c3a0fcf86d Tue, 06 Apr 2010 04:01:00 GMT What's the most significant difference between a stockbroker and an investment adviser? If you're like most investors, you'll find it difficult to make that distinction. In fact, you probably consider your broker to... http://www.townhall.com/columnists/TerrySavage/2010/03/30/why_your_stockbroker_doesnt_really_work_for_you 6825a870-e1fb-4982-b8e7-5ad8db87e35e Tue, 30 Mar 2010 04:01:00 GMT Q: I managed to negotiate with the bank to lower my credit card balance by $9,000, and then I paid off the remaining amount last year. Now I just received some kind of income tax form sent by the card company. Does... http://www.townhall.com/columnists/TerrySavage/2010/03/27/you_owe_taxes_on_cancelled_debt,_car_debt aa55f775-2799-4359-8c24-c679d37eefbc Sat, 27 Mar 2010 04:01:00 GMT