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Terry Savage: Chicken Money Strategies That Work

Stan Haithcock
April 24, 2023
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About Fun With Annuities Episode #144

I loved having Terry Savage back on Fun With Annuities to discuss the current financial environment. In volatile and chaotic times like these, it’s time for professionals to weigh in, and Terry is definitely a pro.

Terry Savage is a nationally recognized expert on personal finance, the economy, and the markets. She writes a weekly personal finance column syndicated in major newspapers by Tribune Content Agency.

She is the author of four best-selling books on personal finance. A new edition of her best-selling book, The Savage Truth on Money, is now available on The first edition was named one of the top ten money books of the year by Her other recent book is: The Savage Number: How Much Money Do You Really Need to Retire? She is also co-author of The New Love Deal.

Terry frequently appears on national television and radio programs, commenting on the financial markets and current economic events. She is featured on WGN Radio and WGN-TV in Chicago, with a weekly personal finance segment.

You can read Terry’s weekly columns and commentaries, watch videos, check out links to her favorite websites and calculators, and check out Q&A on her “Ask Terry” blog at

Terry is in demand as a speaker on the economic outlook, the markets, and personal finance topics. For a keynote address, she provides a reality check on the volatile economy and financial markets, including the impact of politics and current events.

For corporate benefit programs, Terry gives a down-to-earth explanation of the importance of saving and investing in company benefit plans, as well as college planning, dealing with student loans, and other personal finance topics.

Terry has worked nationally with major corporations, including Allstate, Wal-Mart, McDonald's, Walgreens, Hilton, and Allstate, to share her message of financial literacy and empowerment with their employees. She is a registered investment advisor, although she has no individual clients, nor does she represent any financial products or services. She is a truly independent voice for the financial consumer.

Terry Savage has been named a Top 5 Speaker of the Year by Speakers Platform for several years. And she recently received a lifetime achievement award from the Chicago Journalists Association and the Silver Circle Award from the Chicago Television Academy in 2018.

She 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.

Terry’s expertise comes from experience. She started her career as a stockbroker and became a founding member and first woman trader on the Chicago Board Options Exchange. She was also a member of the Chicago Mercantile Exchange’s International Monetary Market, trading interest rate futures and currencies. She now serves on the Board of Directors of CME Group, the parent company of the Chicago Mercantile Exchange. She has also served on McDonald's Corporation and Pennzoil Corporation boards.

Terry encourages her readers and listeners to email her questions and comments to: [email protected]. I know you are going to enjoy this one.

In this episode, The Annuity Man and Terry Savage discuss:

  • Responding to current financial issues
  • The bulls, the bears, and the chickens
  • Should you wait before taking social security?
  • The biggest legacy you can leave

Key Takeaways:

  • Don’t panic at every scary event that you hear from the news. Recognize the history of resiliency that America has and the crises the country has gotten through. Also, check for yourself if and how current financial issues are affecting you personally before reacting to it.
  • In every stage of your life, you should divide the markets into the bulls, the bears, and the chickens. You should always have some chicken money, it is the alternative to risk. Having discretionary funds that help you sleep at night is nothing to be ashamed of.
  • If you have the financial ability to do so, then consider waiting before taking Social Security until age 70. That’s because there’s roughly an 8% increase in your benefit per year in the years after your full retirement age is.
  • Your biggest responsibility isn’t the decisions you make or who you vote for, though those are really important. Your biggest responsibility is to pass down real history and to share the value of the American free enterprise capitalistic system to the younger generation.

"Self-discipline is the essence of all decision-making. You don't want to be making decisions out of panic. You need to set money aside and decide where it's going. Peace of mind is priceless." — Terry Savage

Connect with Terry Savage:

Website: Home - Terry Savage

YouTube: Terry Savage


Twitter: Terrytalksmoney


New Book Link:

Fun With Annuities Podcast is hosted by America’s Annuity Agent®, Stan Haithcock, The Annuity Man®. Hear brutal annuity facts with no sales pitches from the top independent agent in the country, licensed in all 50 states. Author of 7 books, Stan dives deep on all annuity types and strategies. It’s fun, learning the contractual truths on how annuities actually work and if they’ll fit your personal retirement lifestyle.

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