19 Burst results for "Terry Savage"

"terry savage" Discussed on WGN Radio

WGN Radio

02:38 min | Last month

"terry savage" Discussed on WGN Radio

"Saturday and Sunday. With a slight chance for rain both days from the WGN Weather Center. I'm Paul Conrad. Yes, Apologies to pull Conrad now your money on WGN. Here is Steve Alexander. Yeah, Here we go. With the win trust business lunch numbers. It remains a selling day. For the most part, a lot of profit taking and equities, commodities and crypto. We're seeing some slow improvement, but for the most part still deep red The Dow was down about 2 44. The NASDAQ is off 65, the S and P is down about 25. The Russell 2000 small caps down about 1.4% right now, Volatility is measured by the vics was and double digits earlier. Right now it's up about six and three quarters percent. And checking the 10 year Treasury yield. It's been wobbling in and in a narrow range up, end down right now it's up a little at 1.64% Bitcoin is down about 9% just over $39,000 each right now. Still double word was last November. Here's one of those Terry Savage questions. When should someone start investing? Well, Fidel always answered, Er, maybe the younger the better. Fidelity says four million new brokerage accounts were opened The last quarter and 1.6 million were run by people 35 younger, How much younger Well, Fidelity does not say, but it does offer youth accounts for kids between 13 and 17. Commodities. Crude oil's down 3% $2 Lower 63 46 Golds Trading about $14 higher at 18 82 Coppers Down 3% right out. 15 cents lower at 4 57 Chicago Art of Trades got some deep red there with beans down 35. That's 2% at 15 39 corn is trading down 11 cents at 6 47 and we'd stand about 18 cents at 6 80. That's your money on 7 20, WGN 69 degrees in Waukegan 71 in O'Hare 71 of Midway 75 near the lake front. I'm Jordan burnt field on Chicago's very own. 7 20 WGN. In an article titled Taxing Matters, Terry Savage wrote, Did Bill and Melinda Gates decide to get divorced because of potential changes in the tax law. Okay, That's not the main thing to talk to her about. But I'll ask about that dumb Bitcoins impact on people's money Today and Maura about the child tax credits. She wrote the fax. We've got him next on the Wind trust business lunch. What's better than faves on the radio babes in your kid's hands right now, she says. Milkshakes for 3 99 or left all the goodies like chocolate peanut butter Crunch milkshake made with butter finger peanut.

Steve Alexander Terry Savage Bill Paul Conrad 1.64% Sunday 11 cents Melinda Gates 15 cents Fidelity 35 Saturday Maura Waukegan 3% Fidel 10 year last November 2% 17
"terry savage" Discussed on WGN Radio

WGN Radio

08:13 min | Last month

"terry savage" Discussed on WGN Radio

"W G, and you're listening to Chicago's afternoon news. Terry Savage is on the phone line now and we're taking your questions. 3129817 200 We will start with Randy Randy. Welcome to W G. N. Other, Steve my question Terry is playing on to retire in Absolutely 20 months. And if I I plan on living off my IRA, and we're going so security until I reach 70. But if I take out excess money over my livery expenses, can I put money fact into the IRA and still claim instruction for it? Not if you're not working. You can only put earned income into an IRA today at Randy, How old are you? I'll be 65 a half when I retired. Okay? Is there any possibility that instead of taking money out of your IRA over the next few years until you reach full retirement age that you could either work part time or earn a little bit more money in some way that may not relate to your current job, but Yeah, You're right. I'm not thinking about driving, ecstatic. Wait a minute. Randy's put in 40 years. He wants to put his feet up and retire. Right. Ready. I would still be able to work. Our time. In the current field, So that's not a problem. Really. I'm going to tell you something, the most important thing you conducive Oh, You're absolutely right is delay Social security until you're for retirement age or beyond. The second. Most important thing you can do is delay taking withdrawals from your eye, All right. Until you're required to do so. It's 72. So I know it's such an important target to look forward to. That's it. I'm out of here. I'm retired. But if you have that opportunity to work three or four, maybe even five more years, part time. And not touch any of that money. It's going to compound itself in a major way in your financial security down the road, so don't take money out of your eye. All right way too. Maybe 68 69, maybe even 70 for Social security. It's an 8% increase every year. All right, Thanks for the call Randy. Enjoy every time in whatever comes even if its partial okay. Okay. I stayed like that. We're gonna head Tol Grant here, Grant. Welcome to W g. And what can we do for you, Dave? Hi, Carrie. Hello. We've got a check in the mail today from the Treasury Department. Good for you. $25,200. I have no idea what we'll be right over. No idea. Why no idea why it wasn't it like they misplaced some digits on your $2500 tax refund. We got 20 $100 tax refund last week And today we got a check for $25,200 that said night 2019 tax refund. Okay, So wait, so 2019 tax return last July. Okay? Yes. You did. Okay. Did you do it yourself? Or did you have a tax preparer Intuit with themselves? Did you do it? Like using terrible taxes? Something like this. This is hysterical. I mean, this is a lovely problem. But you weren't expecting this one of a number. Not at all. Can you do my taxes next year? Grant? I'd love to Steve. So what happens? Terry is their legal obligation here. Oh, yeah, yeah. Yeah, there is. There is, I mean, do not spend that money. Do not spend that money. But I'll tell you what I will do my email. Everybody knows it's Terry and terry savage dot com. Send me an email. Give me a few little details so that I can forward it to my contact the media contact, But he knows everything at the I R s and if you want, I'll forward it to them or I will just ask him. So send me your information and tell me no, don't forward my information to the IRA. Give me your information and I'll ask it the IRA. But it's definitely not at all related to anything that could have been on your 2019 returned and it says a refund. Correct, But it does say it's regarding 2019 taxes. Okay? Yeah, and people are I want, you know people are Manny. Many people are still waiting for their 2019 tax return refunds. And once they filed last July fit in one quick question, Did you file electronically? Yeah. You did. I'm sorry. Didn't I couldn't remember. You said that. Okay? Yes. Let me an email and at least I'll get back to you. I promise insect not to give me your name and email. But I'll ask him how that could possibly happen. And what you should do now. Can't call anybody to get help there at noon effect. You know, you can't call anybody that CASS kind of return it. Keep us updated. I want to know what the story is, like, Okay? Well, I deposited the check today I had the bank confirmed that it's the real check from from the Treasury Department. And they said, Yes, it is. They looked at it and they said, yes, way checked it out, and it's a It's a real check. We came in. I thought we played Gramp. Right now We're playing with $9000. Okay with your email again. Promise not to give your information to the IRA. I thought twice about that. It's Terry, a terry savage dot com. Got it. I don't want to tell you what to do. But it's prime rib date. Okay, Grant, You got that right out to dinner. Thanks for the call. We're gonna jump up to marry No one. I know It's fantastic on your, uh, Mary, can you top that question? I don't think so. But my question is my husband is looking to retire, possibly by the end of the year in his money in his retirement in his 403 B through his an employer is mostly in the market and clearing a correction. He's trying to decide what to do with the money to keep it safe for so he doesn't lose always gain so far any thoughts. Yeah, I have a lot of thoughts about that, because that's the problem of everyone who's on the edge of retirement. Every time you thought the market couldn't go higher it has And I'm not saying it won't. But what you need to do is come up with more than just How much money do I leave in the market versus weird? Well, so I put it. I'll give you a comment on that. But you really need to come up with a plan for retirement about how much you could withdraw from that for a freebie. How you invested, how you withdraw it to make sure you don't run out of money before you run out of time. And for that, to get some really good advice, not just investment advice, but how much you're going to spend. How much is you know? Are your Medicare premiums going to be your supplements? Things like that? You need a financial planner. I have done something and put on the front page of terry savage dot com. A link to Wealth ramp which has be on Lee Fiduciary financial Advisors, who are not trying to sell you something. And I would suggest you set up in the first meeting. It's free. Go through the quiz. I get nothing out of this at all. It's put up by my good friend Pam Kruger, who is like me really wants to help people and then carefully vetted all the advisors there Now they alternative. First of all if he retires when he retired, he can roll over his 403 B into an IRA. Call Fidelity or Vanguard. They'll help him do that, because the stuff in the eye in the 43 B is mainly for younger people who are trying accumulate money and grow their money. So do they were all over upon retirement. While he's there, which some of it out to the most conservative options. There probably isn't a money market fund. But there could be a stable value fund or a very conservative fund inside before three be at roll over time, you put some money, perhaps into a money market or some more conservative investments, and that's really why you need a financial Plan or not someone who's a broker. I wasn't broker so they're not all trying to tell you something. But someone who really is looking at the big picture of your life in retirement. You work too hard, Mary for too long with to save that money, So make sure you get some good advice to protect it, okay? Yeah, There's an old saying in the stock market, Mary Cell down the sleeping point, so right.

Terry Terry Savage Pam Kruger Steve $25,200 Randy Randy $9000 Grant Randy Dave last week 3129817 200 last July $2500 40 years Mary Vanguard Fidelity next year 20 months
"terry savage" Discussed on WGN Radio

WGN Radio

03:32 min | 3 months ago

"terry savage" Discussed on WGN Radio

"We'll talk to Terry Savage about what's going on with your money. Dow, I think was down. About 300 points. Today, I saw there was a study of the N A. B E Econ economists and they overwhelmingly are in favor of this most recent recovery bill. I'm not sure that they want more money spent. Or if they're just happy with the level that their actual will talk to Terry about that. Also, Governor Pritzker signed a bill today to set interest rates at a cap. Of 36% for loans, personal loans. That's ah, something aimed at predatory lenders who knew I did not know that the interest rates were exceeding 36%. They still Could be that high, so we'll talk to Terry about that. What do you know about muddy waters or Emmett till we're going to talk to a couple of women who hope you learn a lot more about them in the coming days. They are building museums, House museums on the South side. I think that's one of like five house museums on the South side. And there was an alderman who's gonna put a hurdle in effect to sort of slow those down, overwhelmingly opposed. And so she withdrew that idea. I'm gonna go to museums on the South side a little bit later. But right now it's time to say hello to Patrick Outward from W G and T V Pat, welcome back. Hi, Steve. How are you? Welcome back from Puerto Rico. Okay? I appreciate that. You know, we were talking to Dr Kevin most earlier in the show about what's going on in Northwestern. I didn't get a chance to get into this long hauler study, but No. You've been covering that today. What can you tell me about it? Well, it's interesting so far as it is a first of its kind study, and it takes a look at the neurological impact of covert and specifically long haul. Uh, patients. People have had covert right. So long haul is described as people who had symptoms six weeks or longer, and the doctor who headed up the study said. Basically, you know this is about it's reminiscent of the stigma that was experienced primarily by women with fibromyalgia and chronic fatigue syndrome. So it was 100. People who did not require hospitalization didn't have severe symptoms. Mild symptoms at first, but symptoms that persisted and just did not go away. 70 per 70 of the participants were women, 30 men 21 people 21 states represented from across the country and what it found Woz. You know the common denominators among these folks brain fall. People always talk about it. I just can't think clearly after I had Kobe I can't synapses don't seem to be working. Whatever the case, lots of headaches, numbness, tingling disorder of taste. And smell. So basically what it is doing, Steve. It's providing that road map for other researchers to kind of take off from this point here and telling these long haulers. Hey, we get it. These symptoms are not of your imagination. Well, right, so that's got to help them at least psychologically to know that other people know that what they're experiencing is real. And it takes it in a whole different direction. Right. So what are the cognitive long term effects off covert 19? I mean, we're gonna be studying this stuff for years and years and years, And this in itself is a bellwether for other things to come. That's Patrick Elwood covering that tonight for WGN TV news and us will be watching later, Patrick. Thank you. Thank you, Steve. For pleasure to be here is always it's a pleasure to talk to you, Patrick..

Steve Patrick Terry Savage Patrick Elwood Terry 36% Puerto Rico T V Pat 30 21 states Today today Kevin Emmett 100 six weeks 21 people About 300 points Governor Northwestern
"terry savage" Discussed on WGN Radio

WGN Radio

05:12 min | 7 months ago

"terry savage" Discussed on WGN Radio

"You're on WGN Radio. Hey, Pat. What can we do for you? Well, I got the letter and the card. I'm 85. I retired a long time ago. The hospital. They said it was being Ah, I'm supposed to get money from the hospital. I never worked at And so I called the 1 800 number on the, uh, Actually, I think it's on the letter to But anyway, they directed me to call w W w identity theft that gulf Which I did. And then I went through everything. I had to answer questions, and then they gave me a password number. Oh, and then they got my telephone number. S so that they can get in touch with me. Who sent you to? Who sent you there? Who told you to go to identity theft ago? Well, I called the 1 800 number on that on the letter I got I've got the letter in my hands. But I am 85. My eyesight isn't as good as it used to be. Mine's not either. I'm you know, it's funny because you say, OK, I'm worried that I might be the victim of identity theft and the people that I thought, But the people that you think are ripping you off are the ones that also told you call this number. If you think there's a problem, so I'm I'm now I'm worried that that website or phone number that you reached out to might not be legit either. I did, but if it was a dog of sounds good. Uh, it did say it say it was the idea, E F website. That's that's the people on dot Gov is reassuring, but I hadn't heard identity theft that Gove tossed around. I'm gonna ask you to do the same thing. Keep listening. And how are your ears? I know your eyes aren't what they used to be. But you can say listen, right? Hey, you know I am 85. I'm my hearing is the biggest good as it used to be, either, but I, but I listened to you. I can turn the radio up. Okay? You do that, Thanks for the phone call. All right. Bye. Bye. Bye, Pat. My hearing is Aziz. Good as it's ever been. My problem is everybody in my family is not talking as loudly as they used to. And I'm going to stand by that. Do we go next, Mrs Garris to line four that zlook like Sheila? Hey, she look you're on WGN. Hello. Hi, John. How are you? I don't know. What's up. Uh, I also had the unemployment letter and then I got the card. I contacted them to the information on the original letter. You need to get that cleared up. I got a letter from them, saying the case is closed. It was fraudulent. Yeah, That's what you need to cover yourself. And you remember who you called or what? Website? You went to It's on the original letter. Now that's in helping. I didn't see the original letter. Do you remember what it was? No. No, I don't. I'm sorry, but the original I mean, I'm sure if you just Google unemployment, you know you would find it. Yeah. And you know what? Okay, listen, I'm glad I'm sad to hear that. I'm glad to hear that. And thanks for the help on that Sheila Oh, no problem. It was very quick by the way. Yeah, That's the thing with three or four days. I have it in my mind that this is like, a weeks long nightmare. But it wasn't that for you, huh? No. I got the initial letter the card and my fraudulent letter within a week. Good here. All right. Thanks for the phone Call she lip Thank you by 3129817 200 is our telephone number and Terry Savage comes out with us on Wednesdays, and she's the expert at this literally. I promise you there is nobody in the state of Illinois. More Stoute about this topic because nobody has resolved issues for people more. She's the financial columnist that comes down with us on Wednesdays, and I will ask her one more time. She's gonna look at me like, Haven't we done this? But I don't think we can do it too much, isn't it? Isn't it just another layer of crap and 2020. That we're going through a pandemic. We had all of this political unrest. We had all of this civil violent unrest in the streets. I don't need to remind you, how about 2020 years and then as a way of sort of saving ourselves, we say all right, At least we're going to give each other some money. Here's some money. And then as we're just trying to lift ourself up, somebody comes along and says who? I think I'll steal some money. I'll steal some money from you people and this system. I'll make 2020 even worse. I want to find those people. And if they're Russians, so help me I don't think they're Russians. I think they're from Waukegan, an Elgin I think they're like just local Schmoes. You and me who see an opportunity and they seize it. 2020 reminds us time and again that there is a side of humanity that we need to Better ourselves, or at least insulate ourselves from Let's see here. Lots of phone calls. Kathy, what did you do? You're on WGN. Hi, Kathy. Hi, John. Good morning. One of the things that the representative from I d s suggested that I do is well. Was to go to the Federal Trade Commission's website. And there's a pull down there in order to register that you've had unemployment identity theft..

Sheila Oh WGN Pat John Kathy Federal Trade Commission Terry Savage Waukegan Aziz Illinois Mrs Garris dot Gov Google representative Gove Schmoes
"terry savage" Discussed on WGN Radio

WGN Radio

04:33 min | 8 months ago

"terry savage" Discussed on WGN Radio

"Thanks very much for listening. I'm Steve Bertrand. Terry Savage is on the phone line. If you have a question for Terry about your money, that should be a good time to texted in or give us a call at 3129817 200. Okay. Mary Kim and Kevin, you all shop at Trader Joe's D'oh. Not often. Very not often. Okay, well, I love it. What's your favorite thing to buy a trader Joe's Oh, wow, I have a lot. But, um, there box wine is OK. OK, you guys what's their number? One selling item. Probably trail mix or something. No, it's the everything but the bagels. I love that. I use it all the time. Everybody loves it. Everything but the vagal seasoning. It's their number one seller in 2019, and so they're celebrating or trying to sell more stuff by coming up with everything but the leftover seasoning. So it's a new seasoning mix that will figure Thanksgiving or is it oriented? It's out of the pumpkin onion, salt to Merrick dried thyme and other seasoning. So sort of like the Stuffing mix. Yeah, so they're all right. If they're se jin it, I'm done. I'm not buying it. A hate hate Seo hates age. Really? Yeah, That's too bad because sage is wonderful. Terry Savage, speaking of a sage is on the phone line. How about that? How are you, Terry? And I love that. So everything but the bagel seasoning or your big fan. I never even heard of it. So you had a look. But I'm going to go find it. You got to find a trader Joe's It'll change your life. Terry savages here. If you have a phone book, a question 3129817 200 or you can always text. This is well like the market's closed down. I think the Dow is down about 150 points. The S and P down 6/10 of a point the NASDAQ down, even lesson that 1/10 of a point. What was going on today? Nothing matters. There was I was glued to the TV set watching the hearings all day long. It was just a fascinating on both sides. Lesson in American democracy and politics and history. I found that one of the most interesting days of television I've watched. Wow, I am. Didn't I relied on other people to pull the highlights? Because I to me. Some of that is so such posturing on both sides of not a big fan of it, but anyway, well, that's good, but it was interesting seeing both sides back to back to back. Just a fascinating day. Um, and none of it, I think affected the markets the markets there now in a holding pattern, the markets they're trying to figure out what will happen in the election. And what will happen with the stimulus. Believe it or not, that little, you know, tease stimulus is still out there. The potential of it, So I think the market just feeding on itself, traders trading back and forth. I and I listen to all that the guru of this and that we've had Jeff gone Black predicting a huge bear market sometime in the next 18 months. Then Dennis Gartman, my old favorite guru. Back on Fox business yesterday. I think it was maybe the day before yesterday, talking about the fact that this is a bull market. No doubt about it so something to my greatest people. You know, people I listen to Moz. Completely disagreeing, and that's what the market is just not agreeing on anything in particular. You know, my wife and I were talking this weekend about the economy, which is really exciting life we lead and about, you know, because the economy just absolutely crashed in March in April, so we went into a recession, but we're already out of the recession, right technically, just because we're growing Doesn't mean where where we were or a good spot, but the recession's over. Yes, all relatives. We always had great increases in in job, but we still have 10 million people unemployed at a bounce from the bottom, and that makes the numbers look good. But what if you compared to a year ago? The numbers don't look so good. It's so it's half full, or have I got yelled at during a newscast several months ago, and I called it a stellar jobs report because Hundreds of thousands of jobs were created it It was very good news given where we were, but of course, it wasn't close to where you know the recovery that we need to have have made to come through. That's exactly what's happening now and again. The prospect did I not mention that there's an election coming up. Also in three weeks when I when I said the market just on hold, I think that's a lot of it now. All right, the solitary savages here 3129817 200 couple of you are already on hold, so we'll talk to her. About that, coming up. Also, I want to talk about the retirees learned about their social security increases, right? Wow. It's a mixed bag. I'll tell you. Why will you tell me why in just a few minutes,.

Terry Savage Trader Joe Steve Bertrand Mary Kim Dennis Gartman Kevin Jeff Fox
IRS extends deadline to register for federal stimulus check

Wintrust Business Lunch with Steve Bertrand

03:28 min | 9 months ago

IRS extends deadline to register for federal stimulus check

"Of headlines on the business front today, wth E i. R s is reaching out. This is actually from Terry Savages column and she's going to join us next week. Terry will be here next Wednesday. The IRS is reaching out to approximately nine million Americans who deserved a stimulus check but didn't get one likely because they earned too little to have filed a tax return and are not on the government's benefit lists like Social Security, disability SS I stuff like that. Just maybe nine million people out there that are supposed to get a stimulus check. Still have not. The IRS is trying to tell people that did not get that $1200 but should have received it. That they have until and they've moved this now. November 21st to register. You can go toe I rs dot gov slash corona Virus Last non filers enter payment information here anyway. If you goto iris dot gov slash corona virus. If you did not get a stimulus check, there's still hope that you could Right? And they just move that yesterday. Actually, I think that yesterday, maybe with Monday they the IRS. It was originally October 15th, which was a week from today. That you had to actually get your information into the IRS. And by the way, if you just Goto iron back up, there's actually a link right on the home page right at the top. That says non filers enter payment info here, and that's where you go to get this. I'm very pleased that Terry's obviously covered this and that we've pushed Deadline back. I think every nine million people not get their $1200 is a very important number and it would. It's just a shame that so many people I haven't had access to that cash so smart move on the part of the eye arrests and I hope people will go to IRS stock tub and feel free to investigate their how they can get that money. Congress has not agreed upon a second stimulus check. I don't know. Are you reading the tea leaves out there? If and when is that going to happen to you guessed Terry or ah, police. I guess I would say John, that we're definitely going to have some sort of. If I had to read the tea leaves. We only have three weeks left the election. I think there's a lot of pressure on to get something done in the next three weeks. And I would think from President Trump's side that he would want to be able to boast about getting another deal done, and that's been his M O right. He's dealmakers get the deal done. I think the Democrats also want to help people that really driven but that there is just a huge amount of pain going on. Right now. We talked earlier about the number of people who are unemployed. The continuing numbers are frightening. More than 25 million Americans. They're filing some sort of unemployment claims weekend week out. We're seeing, you know 850,000 roughly people filed for first time unemployment claims. Plus the P way on top of that the pandemic unemployment assistance another 1,350,000 you're looking at, like a million and a half people who every week filing for some sort of assistance. And the number of people who are now food and secure closing in on 20%. So you know, I think the Democrats you're motivated. I sure hope the administration is motivated. Feels like we should be able to get something done in the next couple of weeks. You hoped I think you have caused to be mad at both

IRS Terry Savages Donald Trump Congress President Trump John
"terry savage" Discussed on WGN Radio

WGN Radio

03:11 min | 10 months ago

"terry savage" Discussed on WGN Radio

"Right? Terry Savage joins us right now. Terry savage dot com She is the chief Economic analyst for the Roe, Conn. Show unpaid position. All right, let's let's talk about what we've been promoting her for last couple of days there, Let me just finish this. Well, there's going to be three new buzzwords. And I want you oughta listen, We don't have to care a lot of up stock market. I hope you don't care about the ups and downs. Hope you just regularly consider, you know, continuing to invest Hope if you're retired, you've got a nice mountain Stocks, Maybe 50% depending on your age and your stage in life, and you need growth over the long one. And you still have a long one. I hope but you're going to hear three new buzzwords. No one is going to be healthy Cleansing. Aziz relates to the market action yesterday. Another is going to be Taking a breather before it goes to new high. You're going to hear that from all the pundits, and here's one that I bet you I'm going to start counting the number of times I hear this. The word is double top. Because, you know, we made a peek in the stock market left January early February, just these levels. And if you take a long time I used to when I was starting to learn about a long, long time ago, when they only had paper church, not on your computer. You get the giant book the chart that would come out every month and I would get it. Take a piece of paper. And before I turned the page and put it over and cover the half of the chart and see if I looked at this could I figure out where the market or this stock was going? And you know you have 50 50 chance of being right, Iran, but you learn about the pattern. They don't make you rich, but they're they're interesting and a lot of people follow those patterns and you're going to hear the word double top here pretty soon. Did the market make a double tap, which would be a prelude to a devastating flight? I have no idea. Wait. A double top is a prelude to a Devastating. Yeah, because in some, you know, it's one of the technical. I don't put the people down because there are a lot of people have spent awful lot of time charting patterns and using different types of charting technique. Then we'll get into it. But one of the most bears patterns is a double top. And so I bet you're going to start hearing that word. Depending on what the market does in the next couple of days, So just remember, you heard it here first. It was just an interesting little Harry tidbit for you. Okay. What do you want to talk about? I would like to ask you about this whole payroll tax deferral should be. Shouldn't people be taking it And can I get out from under it? Wait, wait, wait. So, um, the president unilaterally decided that the corporate America businesses could stop collecting. The payroll picked. Let us call it what it is. It is the Social Security and Medicare attacks you might get personally where I lined up on that side of dead arguments. I would not like this is what funds Social Security and Medicare It's 6.2% on that half of the employer And same amount taken out of the employees. So it's a nice chunk of money. And I guess the idea was if we couldn't get Congress to pass this, that or the other, we would leave people with more money in their pockets..

chief Economic analyst Terry Savage Roe Medicare Conn Aziz Iran Congress Harry president America
"terry savage" Discussed on WGN Radio

WGN Radio

07:10 min | 11 months ago

"terry savage" Discussed on WGN Radio

"Now with Terry Savage, our guest. Okay. But there's news in the commercial break President called even with the Pope's got your number Who's now? No email from KeyBanc chief communications person. Send me the boiler plate, the colony on my unemployment department and I just sent her back something that said of all you try it. Nobody could get through that. And by the way, no one can get through. You're keeping customer service to report fraud. So if you could get that come in the next 10 minutes while I'm on the year I'll report what you say. Tell me to tell people It's because of the identity theft. That's right. Go through the unemployment that identity. Okay. All right. Here we go Back to some phone calls. 3129817 200 mark Richer on W G N radio. How can we help you? Oh, hi. Thank you for taking my call. I'm so happy to talk to a human being. My 24 year old son applied for unemployment. In March, He got an approval he had never been able to get through to certify. He's now in the queue for a call back. Secondly, he had not gotten a stimulus check. All it says is he's either not eligible or they don't have enough information. But How do you even figure out what to do? Margaret, number one goto terry savage dot com Click on aft area questions put his name claimant number and you'll have to put your email on there, but put his email number in the body of the question. I don't make that all public anyway. And I think the story about his unemployment that he was approved but never got the money number two on terry savage dot com Second, calm Down, says something like Didn't get a stimulus check. Do this. I just want to make sure that in your 2018 tax return 28 28 18. Did you declare him as a dependent? Do you think Probably. Yeah, that's why he hasn't gotten a stimulus check. However, if you did not declare him as a dependent on your 2019 return, which you just filed. We that next year in April, when he filed his own 2020 return, he couldn't say God, you guys moved up on thought it was the defendant 2018 but it was independent on 2019. That's what the law says. I'm putting in a claim for my stimulus check will do that next April for stimulus check, Okay? Okay. Okay for a name and claimant number on my When I go to ask Carrie, it's top right hand corner of the yellow highlighted box. Carry a question. Do it that way, folks just on me. Post a question. I'll get your email and because you have to put that in and just tell me your story, and I'll try and see what I could get market. Good luck to you. And then, thanks for the question. Thanks for the answer to Terry. So those people eventually we'll get that money. You think Oh, I think they'll get all their back money one they get unraveled. It doesn't help. I mean, by the time he hears the same thing, by the time you get a big back check for this because they're obligated, but you'll probably be back at work and maybe a better job. Elizabeth. You're on w G N radio. How can we help you? You're on the air. Good afternoon and thank you for taking my call. It took a while to get through to you guys. You're very popular. My daughter filed taxes and as head of household and I'm a senior, and she put me on. As part of her head of household, so I probably I'm not qualified for the stimulus money. According to what you just said about the previous collar. Is that correct? Inside the death, correct a lot of adult Children, their parents their older parents, because they live with him a contribute to their support. It was a sensible thing to do, but that disqualifies you from a stimulus check. You know, maybe we have not discussed it. Yeah, that's going on. Let me take a minute and say, Elizabeth, thank you. And I hope that answers your question right now as we speak, and as we've discussed for the last two weeks They're in our little friends in Washington, trying to decide what the next stimulus bill will look like, because there will be one because both parties want to give you money because they want to buy your vote. That's me being practical and the savage truth mathematical at all. It's just the reality. But how that will come is very much up for debate. The Democrats have proposed $3 trillion. The Republicans, the headlines say, propose one trillion The Democrats want to extend the $600 a week unemployment benefits that end this, we could be the last week. The current recipients in Illinois. Get that $600 check the they want to do. Another. Democrats want to do another round of targeted stimulus, which should maybe remove some of the restrictions like elderly people who were declared dependence or college age students who were declared dependent. Maybe they will get but it won't be. I will You know how much money it would be? And the Republicans want immunity from lawsuits. The president for some reason, and the Republicans want targeted at business to create jobs. Big philosophical thing. The president for some reason, has decided If he wants to eliminate Bica the payroll tax, which is what fun, Social Security and Medicare and I mean, no, I'm very upset about that. And I think everybody should be because we all know Security and Medicare are underfunded and running out in 15 years or so, but more can't pay the full benefits. I don't want to be running out empty, but Won't be. It will be paying money. Only that they couldn't get in from current workers that they have been depleted with all this unemployment so that spend the bike attack which is something you know, Couple of somebody must have told him. That was a good idea. It would be good for business because they pay the other half of it so that that's what he wants. So this is all being debated and they're all trying to get home for vacation, and they're trying to do it before the unemployment. Bonus runs out. So that's what's going on. Do you think it will be extended? Do you think it will be when what amount will be Terry? I would have to have a crystal ball. I think you will extend unemployment benefits. But I would bet you anything you only $600 a week, maybe four things that will be a stimulus. I think it will be broader. The income limits may be lower, but I don't know about the dollar amount of it. I've heard that it will go from 75,000 maybe 47 5 or 50,000. Something like this is all what's being negotiated behind closed doors with masks off and Washington D. C. Okay, Terry. Well, then we'll just wait and see. But a lot of people are really hanging on pins and needles or they're getting their last deposits this week, and they they I'm hearing from in this week, Terry, they need that money. Oh, I don't know Doubt about that. And and by the way, Washington knows it, So I'll tell you what, instead of calling me about that are why your Congress? Terran LaHood is coming on our show tomorrow morning. He's a Republican congressman from Illinois. We found one so he's going to join us. Tomorrow morning. We'll ask him about that. It encouraged him to push that through, Terry. Thank you for your time. Always good to be with you. Remember, go to terry savage.

Terry Savage president Elizabeth Illinois KeyBanc fraud Washington Terran LaHood Medicare Margaret Carrie Congress congressman
"terry savage" Discussed on WGN Radio

WGN Radio

02:44 min | 11 months ago

"terry savage" Discussed on WGN Radio

"Mega hoodies. What? The black one? I think I think that's an excellent choice. I think that'll be a great hoody for you. Especially when it's 98 in human Exactly maybe aware Maurine the fall, But you talked to producer LF off here, okay? Thank you so much. Thanks for listening. That's our mega Monday morning Music madness quiz. We pride ourselves on making the clues Very, very short. Sometimes we make them a little too, So Don't wait. So are you. One of those people who is been relying on or benefitting at least from the extra $600 that's about to end. We're going to talk about that on the wind trust business lunch today. They have not Well, that they they started the plan. They haven't finalized to continue that stimulus that PPP is that the PPP I get my letters mixed up, sometimes stimulus. The extra 600 bucks. For your unemployment benefits. I'm not exactly sure what we're supposed to do there. Terry Savage, Who's the famous financial columnist who frequently joins us here on W. G. N radio, said that she thinks that there will be an additional stimulus. It will not be $600 there might be some caveats to its from carve outs. It might not be his universal, but in an election year it's hard to imagine that they won't And, frankly, considering what some of you are going through, you need the extra $600. The bad thing about the plan possibly has been that it has discouraged some people from wanting to go back to work. Because they're making more money with their unemployment benefits in the $600 bonus. There are people that write for the Chicago Tribune, who's bylines you would recognize and with unemployment benefits, unemployment, insurance compensation and $600. They're making more money, not working, then working. That tells you all you need to know about journalism right now. Maybe the stimulus isn't too high. But the pay is the problem. Still, that's the dilemma, so maybe they need to bring it down a little bit. I'm not exactly sure what the right number would be. But you figure maybe 400 And the other question. And when we asked this to Dick Durbin, the U. S senator, of course from Illinois, he said, No, absolutely. It's the right thing to do. The question is How can we continue to afford these trillion dollar loads on the on the debt? We'll talk a little bit more about that, and we'll catch you up on the markets in the business day. The wind trust business Lunch comes your way. Next working from home schools, you're still on you, John. With everything we have going on right now, it's never been more important to get to sleep. We need quality Sleep is a natural immune booster and only the sleep number 3 60 Smart bed senses your.

Dick Durbin John Chicago Tribune Terry Savage producer Illinois senator
"terry savage" Discussed on WGN Radio

WGN Radio

08:53 min | 1 year ago

"terry savage" Discussed on WGN Radio

"On money Terry savage Hey Terry how are you today warning I'm in a very optimistic mood today that's what we like to hear the futures are up at this moment or day yeah absolutely it looks like this the Dow opened up about two hundred points and this economy opens up I've had to divide myself between concerns over the people I know and I listening audience and all around the country were worried because they haven't been able to get their unemployment checks didn't affect people still waiting for some of those and the fact that the economy in America is reopening I always say nobody ever got rich betting against America and that the federal reserve is going to do whatever I have to do to pump money into it so that's what's flowing into the stock market and let me ask you about a couple things that I heard about last week regarding the stock market some of the experts were calling what's been going on lately bear market rallies pointing out that stocks have a history of making big gains within long term down markets only for the bottom to give out again how do you see it I you know I never made a living forecasting the stock market I was a founding member of the CBOE and I was a traitor I have been humbled by market years ago and I was interested early this morning watching one of the legendary investors standing for a family Druckenmiller creek in longtime term investor who said quote he's been humbled by the market come back he underestimated the said and one of the first will you learn about the market is that the market is always right and the market is moved by money and there's a sense out there right now that if the economy falters if there's a second wave of coronavirus if there's some reason that businesses fold instead of re opening that the fed will be there doing everything it that's necessary to keep the economy going the fed chairman promised that now the real question out there would you comes around to answering whether this is the bear market rally in a bear market the real question is as we see the stock market go up as we see the economy reopens will the government you know second deal with money the government deals with policy Congress and the president things like stimulus packages or possibly another round at night as they see all this happening will they pull back and say what we really should wait and see before we have another round of stimulus if that happens you know the the economy it's a day by day thing if you're a long term investor you have your position and you don't care about the wonder market because you know there's never been a twenty year losing period going back to the nineteen twenties if your trader you got a lot but you play a different game than I've ever been able to win at Terry savage has a very interesting column in the Tribune today the headline is a new look at retirement planning and you mentioned a book yeah and you say you want every woman in her fifties or sixties to read this book tells a little bit about this Terry okay what is a famous financial planner Alexander Armstrong human a friend of mine for many years in fact I think her innate knowledge mints from the latest edition of the savage truth on money and the two of us it's just sort of conservative people who keep at it trying to help people and she recognizes that women live longer and have different choices to make when it comes to retirement planning the odds are if there was a a spouse in our lives that we will outlive that person and their different retirement choices I think he's taken an approach that I would that I was entranced was talking about the stories of four different women all any of whom could be a girlfriend of mine and the issues they face whether married or single women where women are traditional how's life and so the next chapter in the book your next chapter should be your next chapter Alexander Armstrong and I know women have certain fears that are just different and I think this is dresses and beautiful N. as you read in your column today the recent economic financial social changes in our country have impacted not only our investments and financial planning but also our entire view of the future from a personal finance perspective the current job losses will make it more difficult for many to retire and schedules and children to college make mortgage payments on time even worse you say the sudden economic decline saps our confidence and belief that the economy will recover however as you say you're optimistic well you know I got down I must tell you for the last few weeks and I think I look at it very closely and I realized that I'd become a magnet for people who have problems and there are serious problems who couldn't get along without some help getting through trying to get through the system as much help as I could be I tried to be that but over all of them the historic perspective on America is that we get through these things so painful for one on one individually but America gets through that and well the market you know do I really think the market's going straight up from here actually no but it doesn't matter what I think my position and my investments are unchanged because I was organized before this started to be able to sleep at night and that's my message to everyone eight number as a woman wrote me a woman I know who said Terry extolled everything in and it was really near the bottom and I went no I hope she didn't get that far from me that's not the way to participate and plan for your future instead think in the calm times now look I'm going to ask each and every listener here right now today we are going to be back over twenty seven thousand might probably twenty seven thousand three hundred within a couple hundred points maybe where we were in January so given this moment right now where you're just about back to even estimate in sell out if that happened again would you be sorry you didn't adjust your position are you determined that this percentage of stocks or these mutual funds are the ones you're gonna ride out to the next twenty twenty five years either you're getting a great opportunity now to readjust your portfolio without too much of a loss put some more in chicken money in cash or you've decided you're sticking it out for the long not but at least think about it don't just say oh well that's over think about where you stand right now how you felt two months ago nothing it'll happen again and whether you have the right amount of exposure to the stock market and another liquidity to be able to sleep at night if in case we have another downturn but could be caused by anything from because the nineteen or something that comes out of the blue we don't know yeah R. what is the next time the unemployment numbers come out they're worse than expected instead of better than expected well Rick footnote on at Bobby this statistics were not rigged I wanna make that very clear not raid but because it because the department bureau of labor statistics came out and said look you guys didn't notice the footnote in there that says we can't change the questions we ask to protect the purity of the data over the years but we obviously miss Kwok account qualified the number of people as on him not as unemployed but is temporarily out they should have been counted as unemployed and if we could readjust the questions and the way we ask them to reflect a very unusual situation of furloughs in PPP and stuff then maybe the unemployment would've been great within a couple of percentage points higher to a world focusing on that not as a matter of something that was done intentionally or skewed by like some kind of a Cup all but because the way the questions are always asked it miscalculated a lot of people as temporarily as employed the furloughed not unemployed so the numbers again and we've never been through something quite like this the one side is going to capitalize and say see everything we did with the PPP act in the stimulus has water through this and out of it on another side it's gonna say we haven't done enough to look at all the people that are still burning and that's going to be resolved I think in November yeah it's a political season Terry savage always good catching up with you Terry have a great day per sheet the time is always thank you give up and let's mention that book again that Terry wrote about today it's called your next chapter a woman's guide to a successful retirement by noted financial planner Alexander Armstrong and psychologist Mary R. Donahue there I let's get you into the newsroom now so you can catch.

Terry savage
NYC health chief under fire for alleged remark

Jim Bohannon

00:50 sec | 1 year ago

NYC health chief under fire for alleged remark

"There is are calls faring for okay New York city's health commissioner not so much to on resign main after street reportedly insensitive at remarks twenty about till the let's city's bring police in Jimbo officers Hannah kind the commissioner of weird watching of the NYPD Wall Street these says days nothing with unemployment is more important way than up the health the gross and domestic safety product of his officers crashing major but retailers that may not declaring be the case bankruptcy for the city's and health it looks commissioner as though Dr art Wall series Street Barbeau is just a happy who according is a to the New York could Post be told another what's going high on ranking here officer let's talk with personal I finance don't give two expert rats Terry **** savage about your cops her website during her a phone name call Terry in March savage dot denying com a request and for half Munger a million latest masters books the saying savage truth I need on them money for others carbo and the savage has yet number responded how much to money the story do you really but need police to retire unions are what calling is for Wall her dismissal Street saying that PBA we're not president Terry Pat Lynch calling one it despicable thing to and say unforgivable there are said traditional Dr Barbeau for the stock should market be forced to look to look ahead in the and eye of every and police many family on Wall Street who lost I think a hero that to the this virus we will get past and tell this them economy they are worth will re a rat's open **** and that she business should've been fired will come the moment back she uttered and those earnings words will come

Commissioner New York Officer Munger Wall PBA President Trump Terry Pat Lynch Dr Barbeau Hannah Dr Art Wall
"terry savage" Discussed on WGN Radio

WGN Radio

07:59 min | 1 year ago

"terry savage" Discussed on WGN Radio

"Right Terry savage is joining us right now and the super celebrity hot line Terry savage by the way you know or love her she's a I've been a financial analyst on television and radio for well for as long as the kids here for ever well I you know well maybe people that I started my career as at the first woman trader founding member of the Chicago board options exchange and we really lived in the market actually before that it was a stock broker the first girl at my firm and it was a long long time ago I've been around I've seen this before but nothing like this before right now I have seen this before and I should remind people that you gonna be hosting the Wintrust business lunch tomorrow and Monday and you're gonna represent from the only permanent employment security answering questions with you tomorrow right yeah this is pretty exciting you know this whole unemployment situation what it what a big deal they had to deal with on their website our office is closed and all of that so Rebecca Cisco of ID at the director is coming on and I solicited questions don't send me anymore I'm overwhelmed but I think I've got the gist of what everybody wants me to ask and I'm gonna pop amount to a ceiling gets answered here okay all right so we'll get some phone calls for you as well here three one two nine eight one seventy two hundred but let me start with the stock market and I I'm I'm trying not to be negative here because I because we have to be hopeful and we have to everybody's kind of pushing the same direction here as well as many people who we can get to push in the same direction be optimistic as possible but I see irrational exuberance on the stock market here because I don't know how these businesses if you've got one out of five people who are employed two months ago are now unemployed how do we have a V. recovery which I think is what the stock market is telling us they're anticipating yeah I I don't have a good answer for you we are on the S. and P. five hundred back to where we were a year ago today now back to where we were in January but back to where we were a year ago today and I think the only thing that can account for it is either the emotion that says oh my gosh we'll pick right up which worries me the way it worries you or the sense that there is so much money floating around you remember money's what moves markets and there's just didn't I mean I know it's supposed to go to people you know so they can pay the rent or mortgages within that doesn't quite hold true and there's just so much liquidity flooding the system even though it's draining out the bottom you know we talked about that that I think that's part of what's moving the market up but the smart money you know I've listened to himself for a long time Warren Buffett none of them think anything's a bargain now I don't either Warren Buffett especially was a couple weeks ago we had that he did this virtually he has the Berkshire Hathaway meeting every so it's always on Kentucky Derby weekend which data and that's why I can't attend by the way during his wondering but it's in Omaha and it's you know they call it you know about the test or whatever this this this year he talked about getting out of all the transportation you talked about getting out of trains and and planes whether it's going or the airlines themselves and that's a that they really did smoke detector well yes all billions worth of stock now look you know everybody could be wrong because that was basically this is a virtual your you know what it cost to all high in terms of revenues that all those accolades didn't come to the city but for the meeting that you know he could be wrong I just you know remember two weeks ago I had the bull and the bear debate on on WGN I will host it one day and we had Dr Bob Froehlich who said Terry by the end of the year the doll B. thirty thousand and I thought my god what's he smoking but and I listen to the bear who said look this economy isn't going to pick up it's not going to open up that easily there's too many too much damage done to many people out of work and that means a dog going down to fifteen thousand well so far it's headed right back up here I I don't know what it will take except maybe and I don't want this to be the case maybe another round of of illnesses you know at this time that's not what it takes what it'll also be predicated on the type of recovery I wanted to phone calls here I'll stop you hammering but it's the temperate covering that people are going to see it's it's not just not just whether or not people get sick it's whether businesses can rebound what the earnings look like in the third in the fourth quarter I think that's that's that's the the great great great unknown I had to get to the phone three one two nine eight one seventy two hundred here is Tom you're on WG and good time well thank you for taking my call roll the less time I saw you was at the toys are tax that and we convention center better times my friend yes they sure were real quick concerning the stock market I in a lot of people are concerned about of the federal reserve's kind of like the one which way they're going and Jerome Powell I hope he's not the fox watching the henhouse because supposedly they're looking into buying derivatives and other products that they normally shouldn't be dying and I'm I'm worried we're already enough fire straits but long term we we don't need another nineteen twenty nine in other words yeah Terry what what was already see the way understand the way money gets created it is not printing presses in Washington the federal reserve is a separate distinct organization really representing the nation's banks and they have the job of keeping inflation under control and employment up to par and that's our dual mandate in the tool they have they used at least call job warning they could talk about it you know you guys have to stop thinking about inflation or whatever but the big thing they have is something called open market operations and for ever and ever and ever until twenty oh eight the thing that said could do is go out into the open market remember we haven't at twenty something trillion dollars worth of IOUs treasury bills notes and bonds trading out there the fed could go out in the open market called the big money center banks and say I want to buy you know six hundred million a billion or whatever it is of the two year treasury note and when they bought them when the fed bottom they would pay the bank with newly created money I used to joke when it was Paul Walker nobody ever asked him to put his driver's license number on the back of the check create the money to buy those securities but forever it was only government securities twenty away twenty oh nine a crisis was so deep Hey what mortgage backed securities not the government securities what kind of mortgage backed securities that was a shock and this time around they have literally said we're just about going to buy anything where they've drawn a line although some speculate they might would be ETFs or stocks or something if the market were crashing and the idea that this that the chairman said we will create an unlimited amount of money to keep this thing going well by commercial papers of the penny market funds are fine we're going to buy bonds even municipal bonds perhaps so the municipal park I use from states like Illinois can get sold and they can borrow money so the idea that that's going to create an unlimited supply of money is pretty bullish for the stock market matter of fact and that's why I think you see the market going up despite the fact that we don't know what the economy a look like that I think they do they think Santa Claus is in town they're not just sure where he is what what door he's behind Terry savage will be right back with you and the phone calls through into ninety one seventy two hundred if you have financial questions you want to look into the future you would like a crystal ball Terry this coaster crystal balls we have learned that it has her eyes not a crystal ball but on the traffic.

Terry savage financial analyst founding member Chicago
"terry savage" Discussed on WGN Radio

WGN Radio

02:05 min | 1 year ago

"terry savage" Discussed on WGN Radio

"Be that you know there's a whole lot of arguments out there some people don't think you're even really need to shut down that's ridiculous we see the numbers but the fact is we're here now and the critical thing is to get through this this quickly as possible so we don't really destroy the foundations of our system right because you're stopping at you you literally stopping a river you're you're you're trying to interrupt a river when you do that if if ocean in a tight rope I think it's bigger than a river I think this is the tight now this is an economic ties in the critical thing is that we recognize that people who can't pay can't be foreclosed upon or infected or have their utilities turned off at this point but we keep the system going so that the building owners remain building owners so that they can and so here's the thing if you can't pay rent whether you're a small story parchment resident talk to your landlord and try and make some kind of arrangement Hey little this month maybe a little more next month if we can make it through this in three or four months then everybody will have a chance to get back going again right that's that's a point in the end you know you have the most of these businesses will come back and not all of them well but made it but that most of them do and the important one is that we we always come back it made a comeback in the same form his name may not come back with the same order but we have people who need jobs we need people to work and we have a spirit of entrepreneurial isn't in the meantime we've got the stimulus to try and see it through and I've become sort of the world's minor expert on similar checks with another whole story but I redo the redo then on the other side I would you do you may have to dispatch you will take some phone calls for even two ninety one seventy two hundred Terry savage is with us Terry savage dot com she needs no introduction if you have a question about the about the stock market you have a question about finances you have a question about anything has to do with the green cash money Terry savage can answer it and on the other side tears can tell us how we're getting out of this problem in thirty seconds or less I can't wait to hear that answer I just told you that.

Terry savage
"terry savage" Discussed on WGN Radio

WGN Radio

03:27 min | 1 year ago

"terry savage" Discussed on WGN Radio

"Savage joins us now you check out her post said Terry savage dot com and you read her column in the Chicago Tribune and Terry the future's so were up the stock market opened higher does that mean Wall Street likes the stimulus package it means that there were traders looking for bargains as we speak right now the Dow which we watch is up only thirty two points Boeing people taking profits at that stock soared last week on the stimulus so it means that you have a space to breathe here reassess where you are for the long term and if you think you were scared before the dollars back up over twenty one thousand about five hundred or six hundred so it gives you a chance to look and say Hey if I'd had a chance to get out and over twenty one thousand when I've been glad to I personally think they're going to be so many negative headlines about the economy coming out that the market may retest the lows but I have no idea yep no doubt anyone does six twenty six yeah what was the takeaway for you on the stimulus bill what did you like about it what did you find of lacking interesting thing is I spent the entire weekend I'm serious I took Saturday off I was just fried but on Sunday working with turbo tax experts and others to post at Terry seventy dot com the most comprehensive and reviewed article on who gets stimulus checks how much when and how and trying to answer all the questions that have come my way so if I had as of this moment and I will continue to update it I cannot this post will answer who gets what and when I think that's my biggest part and I you know I hope it's enough at two trillion dollars that's astounding and there are some people that get left out a little bit so let me just hit if you got a minute a couple of highlights twelve hundred dollars for each adult five hundred dollars for each child under six under US seventeen who doesn't get a check seniors who might be claimed as a dependent press on their adult child's return because your your adult children provided more than half your care then you wouldn't get it students who are dependent some parents returned even though they're nineteen or twenty or something like that in college they're dependent they don't get a return you can read the details how do you get the payment you know last year's seventy percent of taxpayers got a tax refund and about averaging about three thousand and so more than half receive them versus direct deposit those people will get their tax return their stimulus checks first the most important thing you can do a bit of advice well you're twenty nineteen tax return as soon as possible not only to get a refund check but to make sure that the most accurate direct deposit payment is on record with the IRS so have any refund you get sent electronically to your bank account and the good news on that I'd skip TurboTax a big thank you and a boost even if you are filing that what we used to call the short form the simple ten forty now with just basically you're in your work income a W..

Terry savage
"terry savage" Discussed on WGN Radio

WGN Radio

04:14 min | 1 year ago

"terry savage" Discussed on WGN Radio

"Seven twenty WGN John here today for G. should be here on the Wintrust business lunch and we're gonna jump right into things no messing around Terry savage who comes in on Wednesdays normally joining us on a Monday morning with the Dow Jones down about six point four percent nearly seventeen hundred points Terry not a great day to chat with you but maybe it is the best day for you to help us out here today well you and I talked about this G. and I've talked about this this is not unexpected except to the people who thought the bull market would go on forever right it's not the economy is not going on forever and it's boom and that's the main reason this is happening today in the stock market I think it's obviously been corona virus fears that have really led the up and down over the last week today though you get the mix with the oil can you explain it like I'm a fifth grader here why this is so volatile today one of our system can it sort of **** the bubble of Happy Days but the oil crisis is another interesting situation I was the Saudis just look at the Russians instead Hey you know what we're not going to support oil prices anymore we're going to cut prices in the face of the demand around the world collapsing think about it not only our planes not taking off and cruise ships not using fuel oil but China has been you know down to about fraction of its usual use of energy for the last month or so so there's very little demand and the Saudis have cut prices and are increasing supply the real victims of not the Russians who they are undercutting although that'll impact them or the Saudis who obviously figure they can afford to do this but many U. S. oil energy energy companies who happen to have high yield you better be careful because those dividends are going to disappear and maybe some of them won't be able to refinance their bonds to the energy sector down dramatically oil under thirty two dollars a barrel that's part of it I imagine for a lot of folks out there that you know if you're not retiring for ten or fifteen years just don't even look at your four oh one K. there's really not much to do I assume that's the correct answer for those that are warning for awhile to find some conservative place to hide some money under fifteen years and more than do it for years well I feel for and I've been talking to the people just a few years from retirement or in retirement you need to are no longer going to be contributing one to retired and also need to take root withdrawals that are required and and H. seventy two now so those people have a great need for liquidity I also like to say that we're seeing something unprecedented in the interest rate markets John we've got that treasury ten year treasury was down to zero point three four percent it's now back up over a half a percent these bonds were trading yielding a close to two percent not very long ago so everybody around the world with cash is coming to the U. S. and saying what's the safest place in the world I'll buy US treasuries that pushes up prices up and rates down yields down to having a lot of unusual things happening and I think the one days and plan on it said it's not over yet it could last a lot longer than you think and now it's you don't want to jump into it middle of this either on the buy or to sell side right quick question this is just random I had I think I've heard about these circuit breakers in place I can't remember what was the last time these have gone off the circuit breakers in twenty ten we had a a circuit breaker issue I mean we we had the mark we have something called the flash crash in hindsight which was a technical thing and they always hit circuit breakers but after that they changed them and so we only had the first circuit breaker today the market was down seven percent just shortly after the opening it went down over eighteen hundred points and may pause trading for two fifteen minutes yes it drops another thirteen percent don't have another part will get there but there are three actual circuit breakers just to give the market a chance to catch its breath for a second yeah that's good advice for the rest of us Terry savage as always thanks for stopping by in a gender through this okay glad to be with you all right let's take a look at the weather's departure was going to be a cloudy skies windy mild as could be some showers around today a high around fifty nine degrees were fifty three right now on Wall Street the Dow was down sixteen.

G. Terry savage WGN Wintrust
"terry savage" Discussed on WGN Radio

WGN Radio

04:01 min | 1 year ago

"terry savage" Discussed on WGN Radio

"Terry savage with us let's go ahead and take a call this is Kathy on the line hi Kathy what's your question for Terry savage hi Kerry I love your straight forward and vice I have a questions about eight months ago I purchased Cresco LAMP stack the popular Chicago marijuana company been all over the papers they moved to Wrigleyville blah blah the stock is doing terrible and besides the founder stepping down yesterday I don't understand one marijuana stocks is so high can I call Cresco and say what's going on you know if I don't mean to laugh but the fact is that companies that are publicly traded have to fully disclose all information immediately that to the public all at once that's not the kind of thing where you it would be if they told you something that they didn't tell the world it would be considered inside information so in general every public company has to disclose everything that's what the securities analysts and investors do is analyze that information I haven't followed the stock I haven't actually followed the pot stocks I thought it was kind of a fad and I don't typically come in an individual stocks but the idea that you could learn something that others don't know is unlikely what you might want to do is just Google the company and see what is there must be some securities analysts following the company that are commenting today on this news that's how you'll get your your best in Alicante how do I find a security analyst that just how line Google the stock go on this is C. N. B. C. dot com and you can okay it's publicly traded company put in the symbol or put in the name get the symbol and you'll find a lot of information about that any individual stock Kathy thanks for your call yet again how proactive Kathy is right Terry but here's our a a text question from the two to four ugh I sold it last week like halfway through the big drop I worry it will drop some more what do I do now well that this is you know this is not to be done out of emotion which is why you know Gee we've been talking about for a month more than a month and that if you're close to retirement take some profits off the table protect your profits kind of thing you're having a rally today it's up seven hundred fifty points I don't have the specifics but I guess right now the Dow is down only about ten percent from its high now what could come along everybody knows things are being canceled everything from sort of template baseball games to conventions Chicago is going to be hit hard by just a loss in the restaurant show there's gonna be a lot more business impact do you think the markets fully pricing that in what do you think that the market's gonna get scared again when something else happens it's not a question of trading your account it's deciding how much exposure you want to the ups and downs of potential ups and downs of the market it really is old enough to be comfortable that's okay put it in the bank in the money market deposit accounts you get the chance today if you think I was wrong we had a twelve hundred point rally on Monday we have an eight hundred point rally today so we're not down that much from the high so either this is your chance to sell more we think of selling your star you have a pile of cash either way it's your money well it relates to that person that question you said that everyone has to ask themselves about their own personal situation and their risk tolerance so here is a question from the two one nine I am sixty eight years old and married to my seventy year old husband we have rebalanced our portfolio to match our risk but now we want to increase the cash in our portfolio what percentage of cash should we have my dad all depends who you're talking about your investment portfolio I don't know what other savings you have outside this is the time when a professional who can take some perspective on your personal situation is so helpful not somebody trying to sell.

Terry savage Kathy Kerry
"terry savage" Discussed on WGN Radio

WGN Radio

01:49 min | 1 year ago

"terry savage" Discussed on WGN Radio

"Many of this Terry savage's more Terry savage dot com good talking to you today Terry thali C. A. dot tomorrow in fact we'll get back have a good day occasional rain possibly mixed with snow at times tonight no accumulation till tomorrow evening let's get the rest of the forecast from Steve yeah if you put away your shovel in the ice melt yesterday you might want to get that back out winter storm watch is going to affect tomorrow morning through Wednesday afternoon for pretty much all of the Chicago area with the exception of northwest Indiana and Kankakee county will see hide your forty three today down to thirty two tonight high near thirty six tomorrow looks like the full snow a full effect of the snow will happen tomorrow tomorrow night and early Wednesday morning four to eight inches of snow possible fuel a local totals as high as ten inches from the storm system right now in Chicago we have mostly cloudy skies thirty eight oh here thirty nine at midway thirty seven at the like from the NHL trade deadline now about five hours away the bulls get away in a public memorial for Kobe Bryant today in Los Angeles it looks like it's cleared up on the inbound side of the Kennedy so about forty eight minutes from here in thirty eight from the Eden C. express only thirty five minutes actually thirty out to the airport Eisenhower fifty in from three ninety about thirty four from Mannheim so from first all the way in in the Stevenson from the tri state thirty eight minutes on the Ryan twenty from ninety fifth bishop Ford and fifty seven are both clear at Lawrence to fuller ten still so in lake shore drive no tollway delays accident Woodridge fifty three and Hobson Amer van Velsen at a traffic center reminding you to drive responsibly it really is a matter of life or death you're boarding a plane and don't have the C. next to your young kid you ask a stranger for kindness tell me what happened and what the airlines.

Ryan Hobson Amer van Velsen lake shore NHL Kankakee county Indiana Steve Lawrence bishop Ford Terry savage Stevenson Mannheim Eisenhower Kennedy Los Angeles Kobe Bryant bulls Chicago
"terry savage" Discussed on WGN Radio

WGN Radio

07:31 min | 2 years ago

"terry savage" Discussed on WGN Radio

"We'll talk to Frank about that. But we get started on Wednesdays with Terry savage, who has an extra gleaming awry, because she's just returned from European travel. I did I spent a week in Poland and a couple of days in Prague, and I am so wide awake right now because I'm jetlagged. Well, this was done this morning when I woke up at four AM people come back from a trip, and they take the next day off the that's the day, you get the most done because you're up at four in the morning. I landed about eight and I've said obviously, by ten and I was, and I was wondering wake at four o'clock. I gave up well the Dow is up almost every day you were gone. I noticed that. And then if. It went down. It was down yesterday and it's down again today. I mean, what's going on anything? We're worried about. Always something to worry about. We're sort of in this lull period here now but what seems to be dominating? The markets is the sense that things are slowing down. There's no inflation incite, and it's just hard to believe that it was January. What's not even point six months that the fed was saying, well, maybe, we'll have two or three interest rate hikes, and now it's two or three cuts that everybody's talking about, and that's changed scenarios a little bit. Let me see if I could paint this picture. So interest rates are down the ten year treasury note, now is down to two point one two percent this morning, does it was over two and a half percent just slightly few months ago. So that's a big decline. And short-term treasury bills, actually yield slightly more than the ten year treasury, that's an interest rate in so that should inversion Kirk. And while we have this talk about rate cuts and economic slowdown. Surprisingly gold has been very strong. We have no inflation now. But if the feds gonna cut interest rates, and if we have more tariffs, not only could throw the economy into the recession that ought to be coming along just on the law of averages now. But there's a sense that you consumers could feel things in higher prices, because businesses will have to pass them on and all that thrown a bit into the gold market. So we have gold trading. It thirteen thirty one and that's you know that's moving up against some some resistance around. Thirteen fifty goes through their boy, you could see a big move in cult, and tell me about mortgage interest rates as well. Right. Because we're going up and going up and they're not going up. So that's the other thing ever. You know, the housing market slowdown last fall. Remember and nobody's going to buy a house, and there was real concern on the part of home builders. And now we're seeing record refinancings refinancings this last month been double what they were a year ago. At this time I go always go onto guaranteed rate dot com. If I wanna see what's really? Happening to guaranteed rate saying that they will refinance a they will give you a thirty year loan. Good credit. Of course, at three point eight seven percents under four percent. And if three point nine seven eight and fifteen years now watch this. If you have only fifteen years or eighteen years, left on your mortgage, you can refinance now to three and a quarter percent interest rate, the is a little higher three point four, but in truth through years ago, women predicting much higher than that now. Absolutely, we were shocked. But we were you know we were in the middle of an economic slowdown rates came down. But now we've had a good economy. A good stock market relatively speaking, and you have a chance to refinance your mortgage for fifteen years at three and a quarter percent. If your mortgage rate is over four percent, go do that right now. Get it done. Go do that right now three and a quarter percent. Well, we'll be long stock. The interest rate cuts are coming. And yet there's this Duke study out saying I think sixty nine percent of executives expecting a recession by the end of next year. The numbers forty eight percent by the second quarter of next year. But the law of averages, we are now in our long, economic recovery throughout the law of averages. Right. We're way beyond anything measure. Well, we are way, we are the now the longest economic recovery from trough to peak, and, you know, there are those who would give the tax cuts and should give the tax cuts credit for for lengthening the economic cycle, but we haven't repealed economic cycles. And when you see the, if the threats of more tariffs, I can I need to keep a scorecard. We need to put a big chalkboard up here because when the tariffs started when they were threatened when they went into effect now what's threatened now it's going into effect now. We have to have a line for China, we have to have aligned for mexic-. We need the rest of the world. We really need to do some kind of graphic we had. I had a guy in from the Canadian trade office last week and I said, we'd like you yet I don't remember track if we'd like them or not. Do you know that they are most are largest trading partner, and they are our most positive balance of trade. Really? Yeah. Trying to remember what the numbers were with the last time, I looked at, well, we have the fairest trading relationship with Canada in terms of balances, when you consider not just goods, but services and financial transactions. We have a really terrific. History of trade. With okay. See, she NBC has a millionaire survey that they do from time to time they talked about candidates for president, so Donald Trump would it comes up against the Democrats among millionaires Donald Trump loses pretty easily to Joe Biden wouldn't be spot. I think it's a big fifty three percent to thirty nine percent. Pete buddha. Judge beach Donald Trump by one percent forty three percent to forty two percent, but the president veto all the other Democrats, you know, I'm waiting for the survey of billionaires. To be a packed full look. I think these surveys, you can concoct anything you want right now. There's a win you. Overwhelming favourite Hillary Clinton in two thousand six. You know there's, there's two aspects to this in it's not gonna work itself out. We're gonna have a lot of fun with numbers and surveys for the next two years. But I there's, there's economic aspect. And whenever I talk to business people have audit in oh, they're so glowing about the economic side of the ledger. I I find it difficult ask them. Because when you say, but what about the other issues which into which you can lump everything from children in cages to women's rights to all the other things, and to me, I just don't see how the money can come I. Well, there are two things coming out of the pull. Organizers one said that a lot of Trump supporters tend to lay low, so his numbers might be better against Joe Biden than you would think, but then the other side of it, they said that Biden doing so well while the economy is doing well and these millionaires are benefited from tax cuts shows that to those millionaires. The other stuff does matter, more than just the money. So there's that. Terry savage is here tonight. Talk a lot about fiduciary in the fiduciary rule. There's it's gone. It's gone. No. But the SEC has come up with something that makes you think that they've solved the problem. And I wrote I you know, I wrote when I was away. And I just saw the edited copies it's going into the paper. It's on my website. Now, Terry savage dot com. I, I was really blowing smoke out of my years. But I stand by SEC tried to pull the wool over is. I'm so glad that phrase into the way you ended it. We'll talk about that after checking the traffic hotspots. Here's Lauren Lipka police activity in Waukegan is blocking Lewis avenue between grand in Richland, and in Morton grove, North Caldwell is closed southbound between oakton and Howard and that's because of a water main break for personalized traffic on demand, get.

Donald Trump Terry savage Joe Biden fed SEC Frank Poland Prague Hillary Clinton president China fiduciary Canada Democrats Waukegan
"terry savage" Discussed on WGN Radio

WGN Radio

04:22 min | 2 years ago

"terry savage" Discussed on WGN Radio

"Well at Terry savage dot com where she puts up a different column each week. And this one Terry was very sad. I mean it was it was a hard one to write in usually I like to be the person with answers and what this did was raise questions. You know, the baby boomer, boomer generation has a new nickname it's now being called the loneliest generation, and the Wall Street Journal reports said about one in eleven Americans age fifty or older lacks, a spouse or partner or living child like this eight million people. And that will grow, of course as boomers age, and I hear from my readers from television WGN on Wednesday mornings in from listeners here questions that are so poignant because if you are. It's not about poverty being older and porous a real issue or dependent totally on social security. But I'm talking about even people who have some assets of expect to be able to carry them through their lifetime. Maybe even leave a little to someone. But, but the real problem, people have is, they don't have someone they can trust. I'm if I could clone myself into a thousand people, I would be that person for women, especially who are in the seventies and eighties. We'll men could use fail to. I know I just have a special affinity for the women live longer, and they're more of them out there that are alone, and they have to make decisions. I'll give you some ideas that it's not just financial decisions. But if you have a healthcare power of attorney, let's say that there's a woman that I know asked me, this few months back, we went through this, she's alone. Her husband died. She wound up. She's ruining a condo from some people who also live in the building. And because she has a niece that's far away. It seems sensible for her because. She likes these people. They've, she's been there awhile to give her landlord's literally her healthcare, poverty. But then what about your, your estate plan, you have a secular for you will, or better, yet, a trustee for your revoke c-a-b-a, living trust if that same? And that's probably somebody want to leave money to. So if that same person, also, as your healthcare, power of attorney, you know, you've created some strange incentives to show what you're saying, is if you're giving someone the, the power of. Turning off the machines. You also inherit the money. Yeah. That's a problem. That's a problem and. What do you do? Then. And, and do you get a stranger? You can get your lawyer to become your executive your will because a loyal, get paid eventually gonna put will through probate that's charges a state. Those face a revoke living, trust, you name a successor trustee, and who is it that, if you're incapacitated, you can't pay your own bills, you, you know, you might have to move into an assisted living who, if you don't have anyone, do you trust not to rip off your money that living will? That's something you give your doctor and say, I don't want any extraordinary measures taken, but just being alone in the hospital when your senior being alone in an apartment, those are really tough situation hit some interesting advice. We've got about a minute left, but you said get into a system living early, and it wasn't because of the care. It was because of the society of it. The fact is uh give you three quick points, number one. If you know, you're going to have to make that move do it sooner while you can socialize my grandmother. And she called me said, they won't talk to me here. I waited too. Who long I've met her in an apartment in my building. Because with, with caregiver so that, that really is. Number one is you make these plans early have to clean out your basement, especially if no one to leave it to number to form a group of friends, not only women your own age or men, but your own age. But see if you can include some younger women who are going to be faced with this in the future, who you might trust you don't wanna lean on them for everything. But who do you call in the middle of the night? If you have to go to the hospital. These are things to start thinking about if you're alone without family or a spouse, that's nice columnist, Terry savage dot com. So check that people to post on my blog, if they have better ideas, because I don't have the answers to this, but I know it's a growing. Listen, I've known this woman for ten years, or so, I'd have never heard Terry savage say, I don't know so many times it because it's it's an overwhelming problem, and I, I know women, they were always independent, they always had jobs and careers. But all of a sudden, who helps it's the wintrust business lunch on seven twenty.

Terry savage trustee attorney WGN Wall Street Journal partner executive ten years