My car has 167,000 miles when would i need to get a new timing chain?

What does that mean? Is that a good or bad thing?

It's a good thing, you need not worry about replacing your timing chain.

Ok thank you. I have another question i just got the car in august and they put in a new serpentine belt but it squels what does that mean?

It's possible the belt is loose, go back to the place that put it on and ask hem to adjust it.