Money Talks: Recent Episodes
MPB Think Radio
email: money@mpbonline.org
Money Talks airs Tuesday mornings at 9 Central Time on MPB Think Radio and over the internet at mpbonline.org
Money Talks focuses on personal finance as it applies to Mississippians. In any given week, we’ll talk about anything from preparing your taxes to saving for college or investing in the stock market. Our experts are Dr. Nancy Lottridge-Anderson, President of New Perspectives and Ryder Taff, portfolio manager at New Perspectives. Nancy and Ryder are both Chartered Financial Analysts and Ryder also holds the Certificate in Investment Performance Measurement from the CFA Institute. They join Kevin Farrell in the studio to answer your personal finance questions about family budgeting, retirement savings, Social Security, investments, debt management and more.
Money Talks is hosted by Dr Nancy Lottridge Anderson, President of New Perspectives. To email a question to the show, send it to money@mpbonline.org. In this episode, we talk about how to choose the right financial planner for you. If you enjoy listening to this podcast, please consider contributing to MPB. https://donate.mpbfoundation.org/mspb/podcast
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Money Talks is hosted by Dr Nancy Lottridge Anderson, President of New Perspectives and Ryder Taff, Portfolio Manager at New Perspectives. To email a question to the show, send it to money@mpbonline.org. In this episode, we talk about choosing the right credit card. Also, several listeners call in with their experiences using credit. If you enjoy listening to this podcast, please consider contributing to MPB. https://donate.mpbfoundation.org/mspb/podcast.
Hosted on Acast. See acast.com/privacy for more information.
Money Talks is hosted by Dr Nancy Lottridge Anderson, President of New Perspectives. To email a question to the show, send it to money@mpbonline.org. In this episode, we share some tips for cutting household expenses and answer listener questions about investing. If you enjoy listening to this podcast, please consider contributing to MPB. https://donate.mpbfoundation.org/mspb/podcast.
Hosted on Acast. See acast.com/privacy for more information.
Money Talks is hosted by Dr Nancy Lottridge Anderson, President of New Perspectives and Ryder Taff, Portfolio Manager at New Perspectives. To email a question to the show, send it to money@mpbonline.org. In this episode, we talk about brokerage accounts and answer listener questions about investing for retirement and what to do with required minimum distributions from retirement accounts. If you enjoy listening to this podcast, please consider contributing to MPB. https://donate.mpbfoundation.org/mspb/podcast.
Hosted on Acast. See acast.com/privacy for more information.
Money Talks is hosted by Ryder Taff, Portfolio Manager at New Perspectives. To email a question to the show, send it to money@mpbonline.org. In this episode, Ryder answers several questions about retirement planning. If you enjoy listening to this podcast, please consider contributing to MPB. https://donate.mpbfoundation.org/mspb/podcast.
Hosted on Acast. See acast.com/privacy for more information.
Money Talks is hosted by Dr Nancy Lottridge Anderson, President of New Perspectives and Ryder Taff, Portfolio Manager at New Perspectives. To email a question to the show, send it to money@mpbonline.org. In this episode, we talk about frugal habits that might pad your bank account, the price of gold and changing investments. If you enjoy listening to this podcast, please consider contributing to MPB. https://donate.mpbfoundation.org/mspb/podcast
Hosted on Acast. See acast.com/privacy for more information.
Money Talks is hosted by Dr Nancy Lottridge Anderson, President of New Perspectives and Ryder Taff, Portfolio Manager at New Perspectives. To email a question to the show, send it to money@mpbonline.org. In this episode, we discuss some colorful quotes from Warren Buffett and dig in to the meaning. If you enjoy listening to this podcast, please consider contributing to MPB. https://donate.mpbfoundation.org/mspb/podcast.
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Money Talks is hosted by Ryder Taff, Portfolio Manager at New Perspectives. In this episode, we talk about rising food prices, moving stocks from one broker to another, finding value in purchases and saving money while shopping. To email a question to the show, send it to money@mpbonline.org. If you enjoy listening to this podcast, please consider contributing to MPB. https://donate.mpbfoundation.org/mspb/podcast.
Hosted on Acast. See acast.com/privacy for more information.
Money Talks is hosted by Dr Nancy Lottridge Anderson, President of New Perspectives and Ryder Taff, Portfolio Manager at New Perspectives. To email a question to the show, send it to money@mpbonline.org. In this episode, we talk about cultivating a healthy financial outlook and answer listener questions about Exchange Traded Funds and 401 K accounts. If you enjoy listening to this podcast, please consider contributing to MPB. https://donate.mpbfoundation.org/mspb/podcast.
Hosted on Acast. See acast.com/privacy for more information.
Money Talks is hosted by Dr Nancy Lottridge Anderson, President of New Perspectives and Ryder Taff, Portfolio Manager at New Perspectives. To email a question to the show, send it to money@mpbonline.org. In this episode, Nancy and Ryder answer questions about taxes on Social Security, mortgages and ways to provide from a grandchild's education. If you enjoy listening to this podcast, please consider contributing to MPB. https://donate.mpbfoundation.org/mspb/podcast.
Hosted on Acast. See acast.com/privacy for more information.
Money Talks is hosted by Ryder Taff, Portfolio Manager at New Perspectives. To email a question to the show, send it to money@mpbonline.org. In this episode, we share some personal finance advice from podcaster Susie Orman. If you enjoy listening to this podcast, please consider contributing to MPB. https://donate.mpbfoundation.org/mspb/podcast.
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Money Talks is hosted by Dr Nancy Lottridge Anderson, President of New Perspectives and Ryder Taff, Portfolio Manager at New Perspectives. To email a question to the show, send it to money@mpbonline.org. In this episode, we talk to Maria Fraietta, owner of Nokbox, a product that helps organize important financial documents. If you enjoy listening to this podcast, please consider contributing to MPB. https://donate.mpbfoundation.org/mspb/podcast.
Hosted on Acast. See acast.com/privacy for more information.
Money Talks is hosted by Dr Nancy Lottridge Anderson, President of New Perspectives and Ryder Taff, Portfolio Manager at New Perspectives. To email a question to the show, send it to money@mpbonline.org. In this episode, they talk about the importance of saving and answer a listener question about the value of joining AARP.
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Money Talks is hosted by Dr Nancy Lottridge Anderson, President of New Perspectives and Ryder Taff, Portfolio Manager at New Perspectives. To email a question to the show, send it to money@mpbonline.org. In this episode, we talk about buying a car with Joseph Yoon from Edmonds.com.
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Money Talks is hosted by Dr Nancy Lottridge Anderson, President of New Perspectives and Ryder Taff, Portfolio Manager at New Perspectives. To email a question to the show, send it to money@mpbonline.org. In this episode, we talk about personal finance traps to avoid.
Hosted on Acast. See acast.com/privacy for more information.
Money Talks is hosted by Dr Nancy Lottridge Anderson, President of New Perspectives and Ryder Taff, Portfolio Manager at New Perspectives. To email a question to the show, send it to money@mpbonline.org. In this episode, we visit with the head of MS ABLE, Josh Woodward. ABLE is a program that provides supplemental income to Mississippians with disabilities without jeopardizing any public assistance they receive.
Hosted on Acast. See acast.com/privacy for more information.
Money Talks is hosted by Dr Nancy Lottridge Anderson, President of New Perspectives and Ryder Taff, Portfolio Manager at New Perspectives. To email a question to the show, send it to money@mpbonline.org. In this episode, Nancy and Ryder answer listener questions about credit card debt, IRA's and economic indicator reports.
Hosted on Acast. See acast.com/privacy for more information.
Money Talks is hosted by Ryder Taff, Portfolio Manager at New Perspectives. To email a question to the show, send it to money@mpbonline.org. In this episode, we talk about retirement savings plans including IRA's and 401 K's.
Hosted on Acast. See acast.com/privacy for more information.
Money Talks is hosted by Dr Nancy Lottridge Anderson, President of New Perspectives and Ryder Taff, Portfolio Manager at New Perspectives. To email a question to the show, send it to money@mpbonline.org. In this episode, since Nancy and Ryder aren't in the studio, listen again to some recent conversations from the program.
Hosted on Acast. See acast.com/privacy for more information.
Money Talks is hosted by Dr Nancy Lottridge Anderson, President of New Perspectives and Ryder Taff, Portfolio Manager at New Perspectives. To email a question to the show, send it to money@mpbonline.org.
In this episode, we discuss economic indicators and their importance to your personal finance. What are they? How do we learn from them? What makes a healthy economy?
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Money Talks is hosted by Dr Nancy Lottridge Anderson, President of New Perspectives and Ryder Taff, Portfolio Manager at New Perspectives. To email a question to the show, send it to money@mpbonline.org. In this episode, we discuss making a budget, credit scores, compound interest and other essential money management lessons.
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Money Talks is hosted by Dr Nancy Lottridge Anderson, President of New Perspectives and Ryder Taff, Portfolio Manager at New Perspectives. To email a question to the show, send it to money@mpbonline.org. In this episode, our guest is Selena Swartzfager, President of the Mississippi Council on Economic Education.
Hosted on Acast. See acast.com/privacy for more information.
Money Talks is hosted by Dr Nancy Lottridge Anderson, President of New Perspectives and Ryder Taff, Portfolio Manager at New Perspectives. To email a question to the show, send it to money@mpbonline.org. In this episode, Nancy and Ryder talk about ways to pay down debt.
Hosted on Acast. See acast.com/privacy for more information.
Money Talks is hosted by Dr Nancy Lottridge Anderson, President of New Perspectives and Ryder Taff, Portfolio Manager at New Perspectives. To email a question to the show, send it to money@mpbonline.org. In this episode, Nancy and Ryder answer questions about carrying a balance on credit cards and IRA conversions.
Hosted on Acast. See acast.com/privacy for more information.
Money Talks is hosted by Dr Nancy Lottridge Anderson, President of New Perspectives and Ryder Taff, Portfolio Manager at New Perspectives. To email a question to the show, send it to money@mpbonline.org. In this episode, we talk about the personal and professional benefits of volunteering.
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Money Talks is hosted by Dr Nancy Lottridge Anderson, President of New Perspectives and Ryder Taff, Portfolio Manager at New Perspectives. To email a question to the show, send it to money@mpbonline.org. In this episode, Nancy is out so on this Tax Day, Ryder answers listeners' tax related questions. Also, we share a few moeny habits of successful people.
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Money Talks is hosted by Dr Nancy Lottridge Anderson, President of New Perspectives and Ryder Taff, Portfolio Manager at New Perspectives. To email a question to the show, send it to money@mpbonline.org. In this episode, we define what a recession is and talk about when being frugal might not add up to saving money.
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Money Talks is hosted by Dr Nancy Lottridge Anderson, President of New Perspectives and Ryder Taff, Portfolio Manager at New Perspectives. To email a question to the show, send it to money@mpbonline.org. In this episode, Nancy is out of the studio, so Ryder talks about several different kinds of savings accounts and answers several listener questions.
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Money Talks is hosted by Dr Nancy Lottridge Anderson, President of New Perspectives and Ryder Taff, Portfolio Manager at New Perspectives. To email a question to the show, send it to money@mpbonline.org. In this episode, Lacey Alexander fills the host's position while Kevin is out to talk about the fundamentals of credit cards.
Hosted on Acast. See acast.com/privacy for more information.
Money Talks is hosted by Dr Nancy Lottridge Anderson, President of New Perspectives and Ryder Taff, Portfolio Manager at New Perspectives. To email a question to the show, send it to money@mpbonline.org. In this episode, Ryder is out of the studio, so Nancy answers a few listener questions and talks about the basics of investing.
Hosted on Acast. See acast.com/privacy for more information.
Money Talks is hosted by Dr Nancy Lottridge Anderson, President of New Perspectives and Ryder Taff, Portfolio Manager at New Perspectives. To email a question to the show, send it to money@mpbonline.org. In this episode, tips on saving money at the grocery store and listener calls about scams and how to avoid them.
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Money Talks is hosted by Dr Nancy Lottridge Anderson, President of New Perspectives and Ryder Taff, Portfolio Manager at New Perspectives. To email a question to the show, send it to money@mpbonline.org. In this episode, we talk about phone scams and how to recognize them.
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Money Talks is hosted by Dr Nancy Lottridge Anderson, President of New Perspectives and Ryder Taff, Portfolio Manager at New Perspectives. To email a question to the show, send it to money@mpbonline.org. In this episode, we talk about tariffs.
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Money Talks is hosted by Dr Nancy Lottridge Anderson, President of New Perspectives and Ryder Taff, Portfolio Manager at New Perspectives. To email a question to the show, send it to money@mpbonline.org. In this episode, we talk about retirement advice that is often ignored and answer several listener phone calls.
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Money Talks is hosted by Dr Nancy Lottridge Anderson, President of New Perspectives and Ryder Taff, Portfolio Manager at New Perspectives. To email a question to the show, send it to money@mpbonline.org. In this episode, we talk about recognizing phishing emails.
Hosted on Acast. See acast.com/privacy for more information.
Money Talks is hosted by Dr Nancy Lottridge Anderson, President of New Perspectives and Ryder Taff, Portfolio Manager at New Perspectives. To email a question to the show, send it to money@mpbonline.org. In this episode, since Nancy and Ryder aren't in the studio, listen again to some recent conversations from the program.
Hosted on Acast. See acast.com/privacy for more information.
Money Talks is hosted by Dr Nancy Lottridge Anderson, President of New Perspectives and Ryder Taff, Portfolio Manager at New Perspectives. To email a question to the show, send it to money@mpbonline.org. In this episode, we talk about ways to improve your credit score.
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Money Talks is hosted by Dr Nancy Lottridge Anderson, President of New Perspectives and Ryder Taff, Portfolio Manager at New Perspectives. To email a question to the show, send it to money@mpbonline.org. In this episode, Nancy continues her discussion about the U.S. economy, we talk about successful New Year's resolutions and take several questions from listeners.
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Money Talks is hosted by Dr Nancy Lottridge Anderson, President of New Perspectives and Ryder Taff, Portfolio Manager at New Perspectives. To email a question to the show, send it to money@mpbonline.org. In this encore episode, Sean Mercer of the Social Security Administration joins the show to answer listener questions.
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Money Talks is hosted by Dr Nancy Lottridge Anderson, President of New Perspectives and Ryder Taff, Portfolio Manager at New Perspectives. To email a question to the show, send it to money@mpbonline.org. In this encore episode, Malary White, Chief Communications officer for the Mississippi Emergency Management Agency joins the show to talk about the mission of MEMA.
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Money Talks is hosted by Dr Nancy Lottridge Anderson, President of New Perspectives and Ryder Taff, Portfolio Manager at New Perspectives. To email a question to the show, send it to money@mpbonline.org.
This broadcast is a "best of" with discussions that include saving for retirement, whether to us a debit or a credit card, saving at the grocery store, and ways to stop wasting money.
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Money Talks is hosted by Dr Nancy Lottridge Anderson, President of New Perspectives and Ryder Taff, Portfolio Manager at New Perspectives. To email a question to the show, send it to money@mpbonline.org. In this episode, our guest is Ivan Drury of Edmunds.com who talks about buying a car.
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Money Talks is hosted by Dr Nancy Lottridge Anderson, President of New Perspectives and Ryder Taff, Portfolio Manager at New Perspectives. To email a question to the show, send it to money@mpbonline.org. In this episode, we talk about the US economy and tips for giving on Giving Tuesday.
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Money Talks is hosted by Dr Nancy Lottridge Anderson, President of New Perspectives and Ryder Taff, Portfolio Manager at New Perspectives. To email a question to the show, send it to money@mpbonline.org. In this episode, Nancy discusses the US economy and she and Ryder answer some listener questions.
Hosted on Acast. See acast.com/privacy for more information.
Money Talks is hosted by Dr Nancy Lottridge Anderson, President of New Perspectives and Ryder Taff, Portfolio Manager at New Perspectives. To email a question to the show, send it to money@mpbonline.org. In this episode, we visit with Malary White, the Chief Communications Officer for the Mississippi Emergency Management Agency.
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Money Talks is hosted by Dr Nancy Lottridge Anderson, President of New Perspectives and Ryder Taff, Portfolio Manager at New Perspectives. To email a question to the show, send it to money@mpbonline.org. In this episode, a discussion on the history of credit.
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Money Talks is hosted by Dr Nancy Lottridge Anderson, President of New Perspectives and Ryder Taff, Portfolio Manager at New Perspectives. To email a question to the show, send it to money@mpbonline.org. In this episode, we talk about credit reports and Nancy and Ryder answer some listener questions.
Hosted on Acast. See acast.com/privacy for more information.
Money Talks is hosted by Dr Nancy Lottridge Anderson, President of New Perspectives and Ryder Taff, Portfolio Manager at New Perspectives. To email a question to the show, send it to money@mpbonline.org. In this episode, we discuss retirement savings plans and answer several listener questions.
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Money Talks is hosted by Ryder Taff, Portfolio Manager at New Perspectives. To email a question to the show, send it to money@mpbonline.org. In this episode, we talk about mutual funds and also take some listener phone calls about preparing for and recovering from natural disasters.
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Money Talks is hosted by Ryder Taff, Portfolio Manager at New Perspectives. To email a question to the show, send it to money@mpbonline.org. In this episode, guest Shawn Mercer from the Social Security Administration answers listener questions.
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Money Talks is hosted by Dr Nancy Lottridge Anderson, President of New Perspectives and Ryder Taff, Portfolio Manager at New Perspectives. In this episode, we learn about keeping your personal information safe online with guests Dr. George Trawick, Cyber Coordinator and Associate Professor of Computer Science and Engineering at Mississippi State University and Shelly Hollis, Director of the Center for Cyber Education at Mississippi State University. Shelly Hollis mentions the Cybersecurity Conference at the Refufge Conference Center in Flowood on January 17, 2025. For more information click on this link https://tinyurl.com/CyberSafeMS. Also mentioned was the Cybersecurity and Infrastructure Security Agency. They. can be found at Home Page | CISA.
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Money Talks is hosted by Dr Nancy Lottridge Anderson, President of New Perspectives and Ryder Taff, Portfolio Manager at New Perspectives. In this episode, topics discussed include pensions, retirement accounts and food prices.
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Kevin Farrell and Ryder Taff broadcast live from the Third Annual IT's All Relative Family Business Symposium.
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Money Talks is hosted by Dr Nancy Lottridge Anderson, President of New Perspectives and Ryder Taff, Portfolio Manager at New Perspectives. In this episode, Nancy talks about teaching young adults about investing and Ryder talks about a recent long term study about employment and how it might be useful while planning a career.
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Money Talks is hosted by Dr Nancy Lottridge Anderson, President of New Perspectives and Ryder Taff, Portfolio Manager at New Perspectives. In this episode, we discuss simple wills, the recent data breach and answer a question about social security benefits.
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Money Talks is hosted by Dr Nancy Lottridge Anderson, President of New Perspectives and Ryder Taff, Portfolio Manager at New Perspectives. In this episode, we talk about ways to protect yourself after your information has been exposed in a data breach and answer several phone calls from listeners.
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Money Talks is hosted by Dr Nancy Lottridge Anderson, President of New Perspectives and Ryder Taff, Portfolio Manager at New Perspectives. On this episode, they answer questions about data breaches, fiduciaries, paying off a mortgage and reverse mortgages.
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Money Talks is hosted by Dr Nancy Lottridge Anderson, President of New Perspectives and Ryder Taff, Portfolio Manager at New Perspectives. In this episode, we talk about teaching kids about money and Nancy and Ryder answer several listeners questions about the best way to invest money.
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Money Talks is hosted by Dr Nancy Lottridge Anderson, President of New Perspectives and Ryder Taff, Portfolio Manager at New Perspectives. On this episode, we discuss planning for retirement before age 50.
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Money Talks is hosted by Ryder Taff, Portfolio Manager at New Perspectives. Topics discussed on this episode include paying taxes, saving tips for new works and tipping culture.
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Money Talks is hosted Ryder Taff, Portfolio Manager at New Perspectives. On this episode, Ryder comments on a number of financial "hot takes," and answers several listener questions. We are joined in the studio by New Perspectives intern Lara Bishop.
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Money Talks is hosted by Dr Nancy Lottridge Anderson, President of New Perspectives and Ryder Taff, Portfolio Manager at New Perspectives. On each episode, Nancy and Ryder answer personal finance questions from listeners. On this episode, we also discuss ways to cut expenses related to housing.
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Money Talks is hosted by Dr Nancy Lottridge Anderson, President of New Perspectives and Ryder Taff, Portfolio Manager at New Perspectives. On this episode, we talk about debit and credit cards.
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Money Talks is hosted by Dr Nancy Lottridge Anderson, President of New Perspectives and Ryder Taff, Portfolio Manager at New Perspectives. On each episode, Nancy and Ryder answer personal finance questions from listeners. On this episode, we also discuss avoiding online shopping scams and spending habits that might be budget busters.
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Money Talks is hosted by Ryder Taff, Portfolio Manager at New Perspectives. In this episode, Ryder answers a number of personal finance questions from listeners. At the end of the show, we talk about investing in the stock market.
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This episode of Money Talks is hosted by Ryder Taff, Portfolio Manager at New Perspectives. Our guest is Shawn Mercer from the Social Security Administration. He answers listener questions.
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Money Talks is hosted by Dr Nancy Lottridge Anderson, President of New Perspectives. On each episode, Nancy answers personal finance questions from listeners. In this episode, there is also discussion of several money saving tips at the grocery store.
Hosted on Acast. See acast.com/privacy for more information.
Money Talks is hosted by Dr Nancy Lottridge Anderson, President of New Perspectives and Ryder Taff, Portfolio Manager at New Perspectives. On each episode, Nancy and Ryder answer personal finance questions from listeners.
Hosted on Acast. See acast.com/privacy for more information.
Money Talks is hosted by Dr Nancy Lottridge Anderson, President of New Perspectives and Ryder Taff, Portfolio Manager at New Perspectives. On each episode, Nancy and Ryder answer personal finance questions from listeners. On this episode, we take several listener phone calls while sharing some of our favorite personal finance tips.
Hosted on Acast. See acast.com/privacy for more information.
Money Talks is hosted by Dr Nancy Lottridge Anderson, President of New Perspectives and Ryder Taff, Portfolio Manager at New Perspectives. On each episode, Nancy and Ryder answer personal finance questions from listeners. On this episode, we will also talk about ways to save money at the grocery store.
Hosted on Acast. See acast.com/privacy for more information.
Money Talks is hosted by Dr Nancy Lottridge Anderson, President of New Perspectives and Ryder Taff, Portfolio Manager at New Perspectives. On each episode, Nancy and Ryder answer personal finance questions from listeners. On this episode, we discuss why it might not be a good idea to use a debit card.
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On Money Talks, Dr. Nancy Lottridge Anderson, President of New Perspectives and Ryder Taff, Portfolio Manager at New Perspectives, are ready to answer listener questions about personal finance. On this episode, guests are George and Jason Hester of Navitas Wealth Advisors, who lead the discussion on family-owned businesses.
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Host(s): Dr. Nancy Lottridge-Anderson, President of New Perspectives & Germaine Flood, Step-In Host
Topics Discussed: Looking into ways you can cut back on unnecessary or useless expenses burning a hole in your budget
Email: money@mpbonline.org.
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Host(s): Dr. Nancy Lottridge-Anderson, President of New Perspectives & Kevin Farrell, Producer
Topics Discussed: Personal finance topics people should make an effort to master
Email: money@mpbonline.org.
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Host(s): Dr. Nancy Lottridge-Anderson, President of New Perspectives, Ryder Taff, Portfolio Manager with New Perspectives & Kevin Farrell, Producer
Topics Discussed: The Best of Money Talks
Email: money@mpbonline.org.
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Host(s): Dr. Nancy Lottridge-Anderson, President of New Perspectives & Kevin Farrell, Producer
Topics Discussed: How to detect scams and prevent yourself from falling victim
Email: money@mpbonline.org.
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Host(s): Dr. Nancy Lottridge-Anderson, President of New Perspectives & Kevin Farrell, Producer
Guest: Joseph Yoon, Insights Analyst for Edmunds.com
Topics Discussed: Ways you can prepare for financing a new vehicle
Email: money@mpbonline.org.
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Host(s): Dr. Nancy Lottridge-Anderson, President of New Perspectives, Ryder Taff, Portfolio Manager with New Perspectives & Kevin Farrell, Producer
Topics Discussed: Financially Preparing for Emergencies
Email: money@mpbonline.org.
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Host(s): Dr. Nancy Lottridge-Anderson, President of New Perspectives, Ryder Taff, Portfolio Manager with New Perspectives & Kevin Farrell, Producer
Topics Discussed: Your Credit
Email: money@mpbonline.org.
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Host(s): Dr. Nancy Lottridge-Anderson, President of New Perspectives, Ryder Taff, Portfolio Manager with New Perspectives & Kevin Farrell, Producer
Topics Discussed: What Are Mutual Funds?
Email: money@mpbonline.org.
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Host(s): Dr. Nancy Lottridge-Anderson, President of New Perspectives, Ryder Taff, Portfolio Manager with New Perspectives & Kevin Farrell, Producer
Topics Discussed: Credit Cards.
Email: money@mpbonline.org
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Host(s): Dr. Nancy Lottridge-Anderson, President of New Perspectives, Ryder Taff, Portfolio Manager with New Perspectives & Kevin Farrell, Producer
Topics Discussed: Ways to Avoid Wasting Money
Email: money@mpbonline.org.
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Host(s): Dr. Nancy Lottridge-Anderson, President of New Perspectives, Ryder Taff, Portfolio Manager with New Perspectives & Kevin Farrell, Producer
Topics Discussed: Investment Basics
Email: money@mpbonline.org.
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Host(s): Dr. Nancy Lottridge-Anderson, President of New Perspectives, Ryder Taff, Portfolio Manager with New Perspectives & Kevin Farrell, Producer
Topics Discussed: Social Security Talk
Email: money@mpbonline.org.
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Host(s): Dr. Nancy Lottridge-Anderson, President of New Perspectives, Ryder Taff, Portfolio Manager with New Perspectives & Kevin Farrell, Producer
Topics Discussed: The Best of Money Talks
Email: money@mpbonline.org.
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Host(s): Dr. Nancy Lottridge-Anderson, President of New Perspectives, Ryder Taff, Portfolio Manager with New Perspectives & Kevin Farrell, Producer
Topics Discussed: The Best of Money Talks
Email: money@mpbonline.org.
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Host(s): Dr. Nancy Lottridge-Anderson, President of New Perspectives, Ryder Taff, Portfolio Manager with New Perspectives & Kevin Farrell, Producer
Topics Discussed: New Year's Financial Resolutions
Email: money@mpbonline.org.
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Host(s): Dr. Nancy Lottridge-Anderson, President of New Perspectives, Ryder Taff, Portfolio Manager with New Perspectives & Kevin Farrell, Producer
Topics Discussed: Christmas Gifts
Email: money@mpbonline.org.
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Host(s): Dr. Nancy Lottridge-Anderson, President of New Perspectives, Ryder Taff, Portfolio Manager with New Perspectives & Kevin Farrell, Producer
Topics Discussed: The Community Foundation for Mississippi
Email: money@mpbonline.org.
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Host(s): Dr. Nancy Lottridge-Anderson, President of New Perspectives, Ryder Taff, Portfolio Manager with New Perspectives & Kevin Farrell, Producer
Guest(s): Jane Alexander, President and CEO of The Community Foundation for Mississippi
Topics Discussed: The Community Foundation for Mississippi
Email: money@mpbonline.org.
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Host(s): Dr. Nancy Lottridge-Anderson, President of New Perspectives, Ryder Taff, Portfolio Manager with New Perspectives & Kevin Farrell, Producer
Topics Discussed: Debt Repayment Methods
Email: money@mpbonline.org.
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Host(s): Dr. Nancy Lottridge-Anderson, President of New Perspectives, Ryder Taff, Portfolio Manager with New Perspectives & Kevin Farrell, Producer
Topics Discussed: Required Minimum Distributions, IRAs, and Thanksgiving Talk
Email: money@mpbonline.org.
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Host(s): Dr. Nancy Lottridge-Anderson, President of New Perspectives, Ryder Taff, Portfolio Manager with New Perspectives & Kevin Farrell, Producer
Topics Discussed: Credit Cards, Credit Scores, and Credit Reports
Email: money@mpbonline.org.
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Host(s): Dr. Nancy Lottridge-Anderson, President of New Perspectives, Ryder Taff, Portfolio Manager with New Perspectives & Kevin Farrell, Producer
Guest(s): Meredith DeLaune
Topics Discussed: Various Retirement Funds: IRAs and 401ks
Email: money@mpbonline.org.
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Host(s): Dr. Nancy Lottridge-Anderson, President of New Perspectives, Ryder Taff, Portfolio Manager with New Perspectives & Kevin Farrell, Producer
Topics Discussed: Drive Time & How to Save Money At Your Grocery Store
Email: money@mpbonline.org.
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Host(s): Dr. Nancy Lottridge-Anderson, President of New Perspectives, Ryder Taff, Portfolio Manager with New Perspectives & Kevin Farrell, Producer
Topics Discussed: Spending Habits That Might Bust Your Budget
Email: money@mpbonline.org.
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Host(s): Dr. Nancy Lottridge-Anderson, President of New Perspectives, Ryder Taff, Portfolio Manager with New Perspectives & Kevin Farrell, Producer
Topics Discussed: How Long You Should Keep Financial Documents and Records
Email: money@mpbonline.org.
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Host(s): Dr. Nancy Lottridge-Anderson, President of New Perspectives, Ryder Taff, Portfolio Manager with New Perspectives & Kevin Farrell, Producer
Topics Discussed:
Email: money@mpbonline.org.
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Host(s): Dr. Nancy Lottridge-Anderson, President of New Perspectives, Ryder Taff, Portfolio Manager with New Perspectives & Kevin Farrell, Producer
Topics Discussed: Reviewing Credit Basics
Email: money@mpbonline.org.
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Host(s): Dr. Nancy Lottridge-Anderson, President of New Perspectives, Ryder Taff, Portfolio Manager with New Perspectives & Kevin Farrell, Producer
Topics Discussed: Ways to Reduce Debt
Email: money@mpbonline.org.
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Host(s): Dr. Nancy Lottridge-Anderson, President of New Perspectives, Ryder Taff, Portfolio Manager with New Perspectives & Kevin Farrell, Producer
Topics Discussed: Tips to Keep You From Busting Your Budget
Email: money@mpbonline.org.
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Host(s): Dr. Nancy Lottridge-Anderson, President of New Perspectives, Ryder Taff, Portfolio Manager with New Perspectives & Kevin Farrell, Producer
Topics Discussed: Calls About Insuring and Protecting Your Money
Email: money@mpbonline.org.
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Host(s): Dr. Nancy Lottridge-Anderson, President of New Perspectives, Ryder Taff, Portfolio Manager with New Perspectives & Kevin Farrell, Producer
Topics Discussed: Are These Tips Frugal or Not?
Email: money@mpbonline.org.
Host(s): Dr. Nancy Lottridge-Anderson, President of New Perspectives, Ryder Taff, Portfolio Manager with New Perspectives & Kevin Farrell, Producer
Topics Discussed: More Things You Buy That Are Wasting Your Money
Email: money@mpbonline.org.
Host(s): Dr. Nancy Lottridge-Anderson, President of New Perspectives, Ryder Taff, Portfolio Manager with New Perspectives & Kevin Farrell, Producer
Topics Discussed: Things You Buy That Are Wasting Your Money
Email: money@mpbonline.org.
Host(s): Dr. Nancy Lottridge-Anderson, President of New Perspectives, Ryder Taff, Portfolio Manager with New Perspectives & Kevin Farrell, Producer
Topics Discussed: Discussing Personal Finances and How Accounting is Just Adding and Subtracting
Email: money@mpbonline.org.
Host(s): Dr. Nancy Lottridge-Anderson, President of New Perspectives, Ryder Taff, Portfolio Manager with New Perspectives & Kevin Farrell, Producer
Guest(s): Shawn Mercer from the Social Security Administration
Topics Discussed: Taking Your Questions About Social Security
Email: money@mpbonline.org.
Host(s): Dr. Nancy Lottridge-Anderson, President of New Perspectives, Ryder Taff, Portfolio Manager with New Perspectives & Kevin Farrell, Producer
Topics Discussed: AARP's suggestions on how to beat inflation
Email: money@mpbonline.org.
Host(s): Dr. Nancy Lottridge-Anderson, President of New Perspectives, Ryder Taff, Portfolio Manager with New Perspectives & Kevin Farrell, Producer
Topics Discussed: Mississippi's Sales Tax Holiday this weekend: July 28-29
Email: money@mpbonline.org.
Host(s): Dr. Nancy Lottridge-Anderson, President of New Perspectives, Ryder Taff, Portfolio Manager with New Perspectives & Kevin Farrell, Producer
Topics Discussed: Mastering the Different Aspects of Personal Finance.
Email: money@mpbonline.org.
Host(s): Dr. Nancy Lottridge-Anderson, President of New Perspectives, Ryder Taff, Portfolio Manager with New Perspectives & Kevin Farrell, Producer
Topics Discussed: Things You Buy that are Wasting Your Money.
Email:money@mpbonline.org.
Host(s): Dr. Nancy Lottridge-Anderson, President of New Perspectives, Ryder Taff, Portfolio Manager with New Perspectives & Kevin Farrell, Producer
Topics Discussed: Ways to Save Money on Groceries.
Email:money@mpbonline.org.
Host(s): Dr. Nancy Lottridge-Anderson, President of New Perspectives, Ryder Taff, Portfolio Manager with New Perspectives & Liz Gill in for Kevin Farrell, Producer
Topics Discussed: Saving for Emergencies.
Email:money@mpbonline.org.
Host(s): Dr. Nancy Lottridge-Anderson, President of New Perspectives, Ryder Taff, Portfolio Manager with New Perspectives & Kevin Farrell, Producer
Topics Discussed: Teaching Kids Finance.
Email:money@mpbonline.org.
Host(s): Dr. Nancy Lottridge-Anderson, President of New Perspectives, Ryder Taff, Portfolio Manager with New Perspectives & Kevin Farrell, Producer
Topics Discussed: Finding a Financial Advisor.
Email:money@mpbonline.org.
Host(s): Dr. Nancy Lottridge-Anderson, President of New Perspectives, Ryder Taff, Portfolio Manager with New Perspectives & Kevin Farrell, Producer
Topics Discussed: Ways to Pay Off Debts.
Email:money@mpbonline.org.
Host(s): Dr. Nancy Lottridge-Anderson, President of New Perspectives, Ryder Taff, Portfolio Manager with New Perspectives & Kevin Farrell, Producer
Topics Discussed: Retirement Savings Plans.
Email:money@mpbonline.org.
Host(s): Dr. Nancy Lottridge-Anderson, President of New Perspectives, Ryder Taff, Portfolio Manager with New Perspectives & Kevin Farrell, Producer
Topics Discussed: Credit Scores and Reports.
Email:money@mpbonline.org.
Host(s): Dr. Nancy Lottridge-Anderson, President of New Perspectives, Ryder Taff, Portfolio Manager with New Perspectives & Kevin Farrell, Producer
Topics Discussed: Creative ways to earn cash.
Email:money@mpbonline.org.
Host(s): Dr. Nancy Lottridge-Anderson, President of New Perspectives, Ryder Taff, Portfolio Manager with New Perspectives & Kevin Farrell, Producer
Guest: Richard A. Courtney, Courtney Elder Law Associates
Topics Discussed: Will and estate planning.
Email:money@mpbonline.org.
Host(s): Dr. Nancy Lottridge-Anderson, President of New Perspectives, Ryder Taff, Portfolio Manager with New Perspectives & Kevin Farrell, Producer
Topics Discussed: Open topics.
Email:money@mpbonline.org.
Host(s): Dr. Nancy Lottridge-Anderson, President of New Perspectives, Ryder Taff, Portfolio Manager with New Perspectives & Kevin Farrell, Producer
Guest(s): Mike Chaney, Mississippi Insurance Commissioner
Topics Discussed: Different types of insurance, tips for shopping for insurance, and combating insurance fraud.
Email:money@mpbonline.org.
Host(s): Dr. Nancy Lottridge-Anderson, President of New Perspectives, Ryder Taff, Portfolio Manager with New Perspectives & Kevin Farrell, Producer
Topics Discussed: Financial acronyms.
Email:money@mpbonline.org.
Host(s): Ryder Taff, Portfolio Manager with New Perspectives & Kevin Farrell, Producer
Topics Discussed: Creating a budget/monthly spending plan and staying on track. How do you manage your finances each month?
Email:money@mpbonline.org.
Host(s): Dr. Nancy Lottridge-Anderson, President of New Perspectives, Ryder Taff, Portfolio Manager with New Perspectives & Kevin Farrell, Producer
Guest(s):Frank Coxwell, Coxwell Attorneys, PLLC
Topics Discussed: Bankruptcy law and procedures.
Email:money@mpbonline.org.
Host(s): Dr. Nancy Lottridge-Anderson, President of New Perspectives, Ryder Taff, Portfolio Manager with New Perspectives & Kevin Farrell, Producer
Guest(s): Joseph Yoon, Insights Analyst, Edmunds.com
Topics Discussed: Car buying.
Email:money@mpbonline.org.
If you enjoyed listening to this podcast, please consider making a contribution to MPB:https://donate.mpbfoundation.org/mspb/podcast.
Host(s): Dr. Nancy Lottridge-Anderson, President of New Perspectives, Ryder Taff, Portfolio Manager with New Perspectives & Kevin Farrell, Producer
Guest(s): Pam Pybas, ASHI certified inspector at Inspect It Like a Girl
Topics Discussed: Home Inspections.
Email:money@mpbonline.org.
If you enjoyed listening to this podcast, please consider making a contribution to MPB:https://donate.mpbfoundation.org/mspb/podca
Host(s): Dr. Nancy Lottridge-Anderson, President of New Perspectives, Ryder Taff, Portfolio Manager with New Perspectives & Kevin Farrell, Producer
Topics Discussed: Open topic.
Email:money@mpbonline.org.
If you enjoyed listening to this podcast, please consider making a contribution to MPB:https://donate.mpbfoundation.org/mspb/podca
Host(s): Dr. Nancy Lottridge-Anderson, President of New Perspectives, Ryder Taff, Portfolio Manager with New Perspectives & Kevin Farrell, Producer
Topics Discussed: Credit card terminology, benefits and risks.
Email:money@mpbonline.org.
If you enjoyed listening to this podcast, please consider making a contribution to MPB:https://donate.mpbfoundation.org/mspb/podca
Host(s): Ryder Taff, Portfolio Manager with New Perspectives & Kevin Farrell
Topics Discussed: Valentine's Day spending trends, answers to your financial questions and your personal Valentine's Day messages read!
Email:money@mpbonline.org.
If you enjoyed listening to this podcast, please consider making a contribution to MPB:https://donate.mpbfoundation.org/mspb/podcast.
We've got one of our longtime guests on the show today, Shawn Mercer from the Social Security Administration. He's ready to take your Social Security questions and Ryder Taff, Portfolio Manager with New Perspectives will handle your personal finance questions this morning. Email the show:money@mpbonline.org.
Helpful Info & Links:
https://www.ssa.gov/
What should I do if I get a call claiming there's a problem with my Social Security number or account? https://faq.ssa.gov/en-us/Topic/article/KA-10018
https://www.ssa.gov/myaccount/
That national phone number is 1-800-772-1213.
Investing in the stock market can be smart way of helping you reach short term and long-term financial goals. But if you're just starting out, how do you know how much to invest and what to invest in? Today Dr. Nancy Lottridge-Anderson, President of New Perspectives, Ryder Taff, portfolio manager and Kevin Farrell discuss investing and give you suggestions for starting out on the right foot.
Email the show:money@mpbonline.org.
There's several advantages to maintaining good credit, and it's important to review your credit report periodically to ensure that the information it contains is accurate. Today, in between your personal finance questions, Dr. Nancy Lottridge-Anderson, President of New Perspectives, Ryder Taff, portfolio manager and Kevin Farrell discuss credit.
Email the show: money@mpbonline.org.
Are you looking to buy a house in 2023? We don’t know the future, but we can learn about the possibilities. Our guest is Senior Mortgage Loan Specialist, Adam Black from First Commercial Bank. We talk about interest rates, applying for a mortgage, and the housing market. Our regular experts take personal finance questions.
Adam Black
Senior Mortgage Loan Specialist
NMLS 121384
1076 Highland Colony Parkway Ridgeland, MS 39157
Main 601.487.9120
www.firstcommercialbk.com
Our guest Adam Black a mortgage specialist has taught us a thing or two over the years. He joined us to talk about various aspects of home buying four times over the last four years.
062122 http://moneytalks.mpbonline.org/episodes/money-talks-mortgages-2022
071420 http://moneytalks.mpbonline.org/episodes/money-talks-first-mortgage
061119 http://moneytalks.mpbonline.org/episodes/money-talks-refinancing-mortgages
061918 http://moneytalks.mpbonline.org/episodes/5cd31f1533f6c1be55607d7e
According to the US Census Bureau: the number of New Houses Sold in November of 2022 were 640,000 with a Median Sales Price: $471,200 https://www.census.gov/construction/nrs/pdf/newressales.pdf
According to the website Red Fin dot com, in November of 2022 1,107 homes were sold in Mississippi with a median sales price of $244,000 https://www.redfin.com/state/Mississippi/housing-market
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Happy New Year! Welcome to 2023. We’ll talk today about information you might need for this new year. We learn about new tax amounts; ways to save money, ways to get back lost money, and ways to win money. Our experts take questions concerning personal finance.
2023
$66,000 - Defined contribution plan (401k, 403b) total limit per participant
$66,000 - SEP IRA contribution limit
$22,500 - 401k, 403b, 457 contribution limit (Salary deferrals)
$7,500 - 401k, 403b, 457 catch up
$6,500 - IRA contribution limit
$1,000 - IRA catch up
$15,500 - SIMPLE IRA contribution limit
$3,500 - SIMPLE IRA catch up
$27,700 - Standard deduction (MFJ)
$20,800 - Standard deduction (Head of Household)
$13,850 - Standard deduction (Single, MFS)
$44,625 - Taxable income limit for 0% long-term capital gains (single)
$89,250 - Taxable income limit for 0% long-term capital gains (MFJ)
$17,000 - Gift tax exclusion
$Unlimited - Brokerage account contribution limit
$160,200 - Social security wage base (No longer pay social security tax after this)
The amount of your taxable Social Security benefits depends on your combined income or the sum of:
- 50% of all your Social Security benefits for the year
- The adjusted gross income (AGI), which is your total income minus adjustments to that income, such as deductions and exclusions
- Tax-exempt interest income, such as interest received on municipal bonds
Unearned / Earned income
Strategies for minimizing taxes
Registration is now open for the 10th Annual College Savings Mississippi Art Contest. The contest will run from January 1 through February 28. Students from across Mississippi will be competing for over $3,000 in Mississippi Affordable College Savings (MACS) scholarships by submitting an original piece of art based on the theme, “What do you want to be when you grow up?” https://treasury.ms.gov/artcontest/
The weather and other operational delays and cancelations that occurred at the end of December and the beginning of January show the importance of knowing your rights and keeping receipts. Southwest airlines has a website where you can make claims due to flight cancellations. We’ll have a link to their website and also the US Department of Transportation’s website where you can learn more about your customer rights.
https://www.southwest.com/traveldisruption/
https://www.transportation.gov/airconsumer/airline-customer-service-dashboard
The United States Postal Service filed notice of Mailing Services price changes to take effect January 22, 2023. The new rates include a three-cent increase in the price of a First-Class Mail® Forever stamp from 60 cents to 63 cents. https://faq.usps.com/s/article/2023-Postage-Price-Changes
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ENCORE FROM 03/29/2022
At Money Talks we can’t give you money but we can remind you that you might save money by planning ahead. Compounding interest, buying in bulk, watching for sales are all ways that might put you in a better financial position. We’ll discuss saving money by planning ahead today. We’ll also take your general personal finance questions.
In the news: job rate, yield curve.
Income Tax payments and filings are due Monday, April 18th this year. https://www.irs.gov/individuals/steps-to-take-now-to-get-a-jump-on-next-years-taxes https://blog.taxact.com/planning-next-years-taxes/
- Have a bank account. The fastest way for you to get your tax refund is by filing electronically and choosing direct deposit.
- Consider adjusting your withholding if you owed taxes or received a large refund last year.
- Take action when life changes occur
- Decide if bunching deductible expenses can help you.
- Try to match major deductions to high-income years.
- Contribute to an IRA for next year now.
Atlantic and Gulf hurricane season starts until June 1st. Now is the time to prepare disaster supplies.
https://www.webmd.com/a-to-z-guides/is-it-safe-to-reuse-plastic-water-bottles
https://www.ready.gov/kit
5/8/2018 Money Talks: Financial First Aid Kit http://moneytalks.mpbonline.org/episodes/5cd31f1533f6c1be55607d84
03/30/2021 Preparing for Emergencies http://moneytalks.mpbonline.org/episodes/money-talks-prepare-for-emergencies
9/7/2017 Money Talks: Emergency Financial Preparedness http://moneytalks.mpbonline.org/episodes/5cd31f1633f6c1be55607da4
- Rotate your disaster kit’s non-perishable food in your regular pantry so you don’t let food expire and go to waste.
- Reuse water jugs, safely by washing between uses. We can have a link on how to do this.
- Watch for sales at the grocery store and stock up when regularly used items have lower prices.
- Keep your generator maintained or buy one if you think you might want one during a disaster.
- Keep your vehicle’s fuel topped off.
Families can lock in tuition rates and prepay their child’s tuition and fees. Currently for newborns who would enter college in 2039, parents could pay $38,812 one time or pay $395 monthly for 4 years of university tuition.
Treasurer David McRae was a guest on Money Talks September 15th of 2020 and discussed this and our other college savings program. http://moneytalks.mpbonline.org/episodes/money-talks-treasurer-david-mcrae
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ENCORE FROM 02/15/2022
According to a report from the Federal Trade Commission: Romance Scammers Steal a Record 547 Million Dollars. Adults 70 and older had $9,000 median loss in 2021. Money Talks wants to make sure the person that steels your heart doesn’t steel your wallet. https://www.ftc.gov/news-events/blogs/data-spotlight/2022/02/reports-romance-scams-hit-record-highs-2021?utm_source=govdelivery
You can help stop scammers by reporting suspicious profiles or messages to the dating app or social media platform where you found them. Then, tell the FTC at https://reportfraud.ftc.gov/#/
If you are the victim of a romance scam, report it to the FBI and your financial institution. In some cases, money that victims sent by wire can be recovered if the fraud is immediately reported.
You can learn more about romance scams at the website: https://www.consumer.ftc.gov/articles/what-you-need-know-about-romance-scams
Ryder mentions:
- Tinder Swindler Official Trailer https://www.youtube.com/watch?v=_R3LWM_Vt70
- Coin Desk https://www.coindesk.com/
- Coinbase https://www.coinbase.com/
- Gemini https://www.gemini.com/
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Today’s show will have two parts: since we’re in the middle of Hanukkah and Christmas is coming soon we’ll discuss “Holiday Spending Without Adding to Your Debt”. Then we’ll move on to “Tips for Paying Down Holiday Debt”. Money Talks welcomes back Bruce McClary, a Senior Vice President at National Foundation for Credit Counseling. Our resident experts are also on hand for personal finance questions. https://www.nfcc.org/
https://www.nfcc.org/blog/holiday-spending-without-adding-to-your-debt/
https://www.nfcc.org/blog/3-tips-for-paying-down-holiday-debt/
Bruce spoke with us about Pandemic Student Loans on March 9th of 2021 http://moneytalks.mpbonline.org/episodes/money-talks-pandemic-student-loans and Credit Counseling on May 12th of 2020 http://moneytalks.mpbonline.org/episodes/money-talks-credit-counseling
Holiday debt is a problem for many Mississippians. Money Talks has discussed this topic two other times: June 29th of 2021 http://moneytalks.mpbonline.org/episodes/money-talks-avoiding-holiday-debt and October 8th of 2019 http://moneytalks.mpbonline.org/episodes/money-talks-holiday-debt.
From a February survey by money geek dot com - More than one-quarter of Americans regret their level of holiday spending; most wished they’d spent less, but some regret not spending more.
Credit cards were the payment method of choice, with 65% of holiday spending paid for with credit cards. The more credit cards someone had, the more of their spending they financed with credit.
By February 11, 2022, 40% of Americans had not paid off their 2021 holiday debt.
https://www.moneygeek.com/credit-cards/analysis/2022-holiday-debt/
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It’s time for you to get in gear for the end of the year. December is a great time to reflect on the past and prepare for the future. What money decisions do you need to make before 2023? We’ll find out from our expert and take your personal finance questions.
Free credit report: https://www.annualcreditreport.com/index.action
Find a personal finance advisor: http://moneytalks.mpbonline.org/episodes/money-talks-choosing-a-professional
- Update beneficiaries and passwords
- Review your tax situation
- Update will and advanced heath care directive
- Contribute to retirement
- Budget
- Review your insurance
How can you support the non-profits in your community while on a budget? Our money topic today is about how to contribute to a charity without donating cash.
The website: https://www.moneycrashers.com/help-support-charities-without-donating-money/ recently published an article suggesting ways to support charities without donating money. We’ll see what our experts think of the suggestions.
Donate your car, truck, motorcycle, RV, or boat to the MPB Foundation by simply completing a form and someone will reach out to you to arrange the pick-up of your vehicle donation, at no cost to you. You may qualify for a tax deduction while supporting a cause that is near and dear to your heart! https://www.mpbfoundation.org/
Today, we’ll have the first of two broadcasts on giving. Next week we’ll discuss giving in ways that aren’t outright cash. As today is Giving Tuesday, we’ll discuss ways to give and how to select who to give your money two. We are also happy to take general personal finance questions.
Our Mississippi Secretary of State’s office has a Charities list. Just go to their website: and click on Charities to search for a charity, file a complaint, start a charity, or read tips on donating. https://sos.ms.gov/
If you want to get a little information about a charity you are considering in donating to Charity Navigator dot org provides free access to data, tools, and resources to guide philanthropic decision-making. https://www.charitynavigator.org/
To find out if an organization in the US is registered as an official charity, you can go to where they register – https://www.irs.gov/ Across the top of the website in their main blue banner is a link to information about charities and nonprofits.
Charity episodes:
11/03/2021 Charitable Giving
12/01/2020 Community Foundations
12/03/2019 Giving Tuesday
11/27/2018 Giving Tuesday
http://moneytalks.mpbonline.org/episodes/money-talks-529-savings-plans
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Will you be buying gifts during the next few days or weeks? Money Talks wants to help you be a more informed shopper by sharing some marketing and psychology tips that are used to get consumers to buy more.
- False Sense of Urgency
- The Decoy Affect
- Buying in Bundles
- The Instant Markdown
- Buy One Get One
- Nostalgia
- Installments
- No clocks or windows
- Shop layouts
- Eye-level shelves
- Unorganized clearance sections
- Loss leader
- Parasite placement
- Since fast-food restaurants want customers to come in, eat quickly, and leave. Fancy restaurants encourage customers to stay longer and keep ordering more courses and drinks.
- Bracketing
- Specials with no price
- Loyalty or frequent buying programs
- One reason retailers started having holiday sales in October may be because Holidays are when people are the happiest. When people are in a good mood, they are also more willing to spend more money.
- The reason companies want to trade your email address for a small discount is simple: they will be able to easily reach you with tempting emails and ads about their awesome products to make you buy from them again and again. So maybe have an email account just for online shopping or have willpower. You could also unsubscribe from their emails after you get your discount.
- Back in the 1930s, retail stores started putting shopping carts near their entrances to inspire customers to make larger purchases. The idea behind it was simple: customers won’t buy heavy, expensive items if they can’t carry them around the store and to their cars.
https://blog.cheapism.com/consumer-behavior/#slide=22
https://www.visualcapitalist.com/29-psychological-tricks-to-make-you-buy-more/
https://sharingsmiles.co/movies/fb/1176317208/12-marketing-tricks-that-companies-use-to-make-us-buy-more/?pg=3
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We have new information about inflation in America today. On Thursday the Bureau of Labor and Statistics released the Consumer Price Index for October. That number is how we measure inflation in our country. We’ll get our financial experts to give their opinion on what the new rate means for the future of prices.
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Americans have been talking about inflation for over a year now. Whatever the cause this is our current reality. What can we do to protect our personal finances right now? We’ll see what our experts have to say. They also cover other money questions.
- Money: The True Story of a Made-Up Thing by Jacob Goldstein
- Tax info: https://www.irs.gov/
- Email about what to invest in
- Inflation
Do you go for the cheapest version when you shop? Do you feel like expensive versions are better quality? Which to choose? Today we’ll discuss opinions on what you should splurge on and when basic is best.
Rather than sift though the website Reddit for “is it worth it on not” information, we’ll be discussing contributors’ suggestions on when you should go back to basics or move up for quality for the best value for your money.
https://www.boredpanda.com/cheap-version-better-than-luxury-version/?utm_source=com.google.android&utm_medium=referral&utm_campaign=organic
https://www.boredpanda.com/high-quality-items-worth-spending-money-on/?utm_source=com.google.android&utm_medium=referral&utm_campaign=organic
I Bonds: Series I savings bonds protect you from inflation. With an I bond, you earn both a fixed rate of interest and a rate that changes with inflation. https://www.treasurydirect.gov/savings-bonds/i-bonds/
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Mark your calendars folks – there are some important dates coming up: heath care enrollment dates, retirement contribution dates. All of these dates might have an impact on your personal finances.
DEADLINE October 31st, 2022 Public Service Loan Forgiveness - The White House
If you have worked in public service (federal, state, local, tribal government or a non-profit organization) for 10 years or more (even if not consecutively), you may be eligible to have all your student debt canceled. Now, for a limited time, it is easier than ever to receive that forgiveness, or get credit toward forgiveness, if you have not yet served 10 years.
October 1st - The Free Application for Federal Student Aid open for the 2023-2024 school year application period opens
https://studentaid.gov/sites/default/files/2023-24-fafsa.pdf
https://studentaid.gov/apply-for-aid/fafsa/filling-out
- 10/26/2016 Paying for College
- 10/10/2017 Paying for College
- 8/28/2018 Money Talks: Student Loans
- 01/8/2019 Money Talks: Get 2 College
October 15th Medicare Open Enrollment begins October 15 — and will remain open through December 7, 2022 Website
Medicare.gov
11/28/2017 Medicare Coverage Comparison
10/15/2019 Money Talks: Medicare
entire month of October - Open enrollment period
https://www.kff.org/faqs/faqs-health-insurance-marketplace-and-the-aca/when-can-i-enroll-in-my-employer-health-plan/
November 1st - 2023 Open Enrollment to purchase health care from The Marketplace runs from November 1 through January 15, 2023
https://www.healthcare.gov/quick-guide/dates-and-deadlines/
January 17, 2023 - last date to pay estimated tax payments to the IRS.
https://www.irs.gov/newsroom/what-taxpayers-need-to-know-about-making-2022-estimated-tax-payments
Tuesday, April 18th, 2023 - The annual contribution limit for Roth IRAs in 2022 is $6,000 ($7,000 if you're over 50), or your total earned income if it's less than that amount. This is set to increase to $6,500 and $7,500, respectively, in 2023.
https://www.nasdaq.com/articles/4-roth-ira-mistakes-you-dont-want-to-make
https://www.usbank.com/retirement-planning/financial-perspectives/benefits-of-an-ira.html
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We’re currently in a period of high inflation right now. But how have the prices of specific items increased over the past decade? The past 50 years? Has anything gotten cheaper? We’ll look into the prices of homes, college, electronics and more on the show today.
https://www.marketplace.org/2022/08/17/money-and-millennials-the-cost-of-living-in-2022-vs-1972/
https://better.com/content/how-much-home-prices-have-risen-since-1950/
https://www.valuepenguin.com/mortgages/historical-mortgage-rates
- A White Cross Electric Hair Dyer cost $10 in 1915 – that’s $234 in today’s dollars. Now the average price of a hair dryer is $25 to 50.
- In 2001, a 5GB iPod Classic cost $400 or $535 in today’s dollars. Now, a 16GB iPod Touch is $199
- In 1939 a RCA TRK-12 TV set was $600. In Today’s dollars that’s $10,218. But today a 65 inch RCA HD LED TV costs $1099.99
- In 1925, Maytag sold the “Gyrafoam” Washer for $145. It today’s dollars that’s $1962. Today, a traditional Maytag washer is $599.
- If you wanted to fly Delta Airlines, round trip between Dallas and Jackson in 1929 it would cost you $90. That’s $1246 in today’s dollars. A trip now will set you back $327.
https://articles.bplans.com/12-products-prices-changed-last-100-years/
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Today’s an Open topic day – we discuss some issues in the news, student loan forgiveness, holiday shopping, and whatever you’d like to bring up. Contact us with your questions concerning retirement, the stock market, or what your money plans are for the year or decade.
Student Loan forgiveness
https://www.ed.gov/subscriptions
https://www.npr.org/2022/09/29/1125923528/biden-student-loans-debt-cancellation-ffel-perkins
https://content.govdelivery.com/accounts/USED/bulletins/32dfbda
According to a September Bankrate survey: Half of winter holiday shoppers plan to begin making purchases before Halloween this year. About 38% plan to start shopping in November. 12% of shoppers plan to wait until December to do their holiday shopping. https://www.cnbc.com/2022/09/28/target-amazon-holiday-sales-start-in-october-shopping-early-can-help-save-money.html
Well, we’ve already had Holiday sales come and go: Target announced it is kicking off its holiday season push with its biggest ever “Deal Days” promotion running from October 6 to October 8. https://www.cnbc.com/2022/09/28/target-amazon-holiday-sales-start-in-october-shopping-early-can-help-save-money.html
https://nrf.com/blog/6-things-know-about-2022-holiday-shopping-season
Small Businesses:
Fairhope https://smallbusiness.com/trends/great-small-towns/
Mistletoe Marketplace is November 2-5 https://www.mistletoemarketplace.com/
Canton Flea Market is the 2nd Thursday in October – which is the 13th http://www.cantonmsfleamarket.com/
STARKVILLE HOLIDAY BAZAAR - 50th anniversary on Wednesday & Thursday, November 30 – December 1, 2022 at the Mill
Amazon is holding an “Early Access Sale” for Prime members on Oct. 11 and 12. This marks the first time the e-commerce giant has ever held two Prime Day-like sale events in one year. https://press.aboutamazon.com/news-releases/news-release-details/introducing-amazons-prime-early-access-sale-new-holiday-shopping
Priced to Move at Fertile Ground in Jackson https://www.facebook.com/p2mjackson/
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We’ve got a fun show for you today. It’s our drive time show. We’ll be sharing opinions on fees that are simply ridiculous to pay. In addition to saving you money, we’ll tell you how you can support Mississippi Public Broadcasting - For the Love of Mississippi.
Thanks for listening to Money Talks on MPB Think Radio, and for choosing MPB as your station for news and ideas. It means a lot to us---and to the community at large---that a non-profit station like MPB can thrive in such a crowded media landscape. You help make that happen through your contribution.
1-888-372-4483 https://donate.mpbfoundation.org/mspb/donate
The website Life Hacker recently had an article about Fees You Should Never Pay. Let’s get Ryder’s opinion on some of these fees. And if we help save you some money, consider contributing that amount to support Mississippi Public Broadcast.
https://lifehacker.com/these-are-the-stupidest-fees-you-should-never-pay-1849412351
- Coinstar fees
- ATM fees
- Credit Reports report fees
- Credit card late fee
- Account maintenance fees
- Mortgages associated
- Overdraft fees
- Utility card processing fees
- Car insurance processing fees
- Gym initiation fees
- Most car dealership fees
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We hope our listeners are familiar with some of the different types of financial institutions. Many in Mississippian aren’t. Many of us are un-banked. Money Talks going to talk about Credit Unions today with our guests from Hope Credit Union. Felicia Lyles, HOPE Senior Vice President of Retail Operations and Carrus King, HOPE Vice President and a Branch Manager of Hope Credit Union will tell us how they are trying to help educate Mississippians against predatory lending and the benefits of having a banking relationship. Ryder will be taking your general personal finance questions.
Jackson branch of Hope Credit Union 601-965-7100
https://hopecu.org/
https://www.mycreditunion.gov/
Discussion:
- GE stock
- Hope history
- Transformational deposits
- Member benefits
- Services availalble
- Unbanked
- Predatory lending
Calls:
- infrastructure
- home loans with student loan debt
- how to invest
Who wouldn’t like an additional income stream! And if you can achieve this extra cash without working 9 to 5, all the better. Today we’ll be learning about passive income. It doesn’t mean “no hard work” just different work. Nancy also takes your financial questions.
We’re getting our personal finance expert to give her opinion on a recent Bank Rate.com article on Passive Income Ideas. https://www.bankrate.com/investing/passive-income-ideas/
According to data from the U.S. Census Bureau, 20% of American households earn passive income either through dividends, interest, or rental properties. Among those households who do have passive income, the median amount is $4,200 per year.
Florida is home to a larger share of retirees who tend to depend on passive income to cover their living expenses.
https://www.chamberofcommerce.org/cities-whose-residents-make-the-most-passive-income/#:~:text=According%20to%20data%20from%20the,amount%20is%20%244%2C200%20per%20year
Remember, according to the IRS: Compensation for purposes of contributing to an IRA doesn't include earnings and profits from property, such as rental income, interest and dividend income, or any amount received as pension or annuity income, or as deferred compensation.
https://www.irs.gov/taxtopics/tc451
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We’ve got a new angle on Student Loans to discuss today – the canceling of student debt. What’s the difference between canceling and forgiveness? Who is eligible and when? What happens after your debt is wiped away? We’ll discuss the new student debt elimination programs between your other personal finance questions.
President Biden's plan to forgive federal student loan debt – up to $20,000 for Pell Grant recipients and up to $10,000 for others who qualify was announce last month.
Borrowers are eligible for this relief if their individual income is less than $125,000 ($250,000 for married couples). No high-income individual or high-income household – in the top 5% of incomes – will benefit from this action. https://www.whitehouse.gov/briefing-room/statements-releases/2022/08/24/fact-sheet-president-biden-announces-student-loan-relief-for-borrowers-who-need-it-most/
What can borrows do now?
- Make sure your information is up to date with your loan servicer. To see who your servicer is: studentaid.gov/dashboard or call Federal Student Aid Information Center 1-800-433-3243
- Be ready to submit the online application with the Dept of Education: ed.gov/subscriptions Email alerts begin in October. After application is submitted, debt should be forgiven in 4 – 6 weeks. You should apply for forgiveness before Nov. 15th . The payment pause ends Deb. 31st, 2022
To ensure a smooth transition to repayment and prevent unnecessary defaults, the pause on federal student loan repayment will be extended one final time through December 31, 2022. Borrowers should expect to resume payment in January 2023.
The ability for public service workers to have debt forgiven has changed.
- Fixing the broken Public Service Loan Forgiveness (PSLF) program by proposing a rule that borrowers who have worked at a nonprofit, in the military, or in federal, state, tribal, or local government, receive appropriate credit toward loan forgiveness.
- To ensure borrowers are aware of the temporary changes, the White House has launched four PSLF Days of Action dedicated to borrowers in specific sectors: government employees, educators, healthcare workers and first responders, and non-profit employees. You can find out other information about the temporary changes on PSLF.gov.
- You must apply to PSLF for the waver before the temporary changes end on October 31, 2022. Check to see if you qualify for public service loan forgiveness (PSLF). Go to Studentaid.gov/pslf to check to see if your employer qualifies: studentaid.gov/pslf/employer-search
If you paid off your loans in full during the federal payment freeze, you are likely still eligible for both a refund and student loan forgiveness. You can request a refund of the payments you made during the pandemic and your balance will return to the pre-pandemic amount. https://www.forbes.com/advisor/student-loans/student-loan-payment-refunds/#:~:text=If%20you%20paid%20off%20your,to%20the%20pre%2Dpandemic%20amount.
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We’ve got one of our long-time guests on the show today – Shawn Mercer, from the Social Security Administration. He’ll take your social security questions. Our expert hosts take your personal finance questions.
https://www.ssa.gov/
What should I do if I get a call claiming there's a problem with my Social Security number or account? https://faq.ssa.gov/en-us/Topic/article/KA-10018
https://www.ssa.gov/myaccount/
That national phone number is 1-800-772-1213.
We love having theme shows on Money Talks – budgets, credit cards, new baby costs, cutting expenses. But sometimes, like today, we have an Open Topic show. Ask us anything. Today we’ll discuss vacation homes, bonds, CDs, and anything else you’d like to ask our experts.
According to a study by Porch dot com, Jackson is the 8th best midsize college town for student renters according to a weighted average for off-campus room and board cost. https://porch.com/advice/best-college-towns-for-student-renters
Past Money Talks podcast: I Bonds and interest rates (Previous MT show: http://moneytalks.mpbonline.org/episodes/money-talks-open-topic-august
The Biden administration forgave $3.9 billion from the student loan records last Tuesday for more than 200,000 former students, who still owe on a federal student loan from their time at ITT Technical Institute. One campus was located in Jackson.
https://finance.yahoo.com/news/president-biden-forgives-nearly-4-200000606.html
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Tax evasion is the failure to pay or a deliberate underpayment of taxes. Tax avoidance is an action taken to lessen tax liability and maximize after-tax income. We’ll be discussing ways to avoid taxes legally and give some tax-efficient investing tips. Our experts also take your other personal finance questions.
The Senate passed Inflation reeducation Act of 2022 allocates approximately 124 billion dollars for IRS tax enforcement. https://www.democrats.senate.gov/imo/media/doc/inflation_reduction_act_one_page_summary.pdf
The IRS’s website: https://www.irs.gov has a “get answers to your tax questions” area where you can find authoritative tax information. The IRS encourages taxpayers to create an I D me account from https://www.irs.gov/ so they have access to their tax information. It is a multistep process that uses facial recognition and authentication to prove that you are you.
Questions:
- W9
- Capital gains in MS
- Timber sales
- REITs
- Tax on Municipal bonds
- Vacation home expenses
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When you add a child to your family you add joy and happiness and extra expenses. What costs can you control? Which costs are flexible? We’ll talk about the extra costs of impending parenthood. We also can take your other personal finance questions.
New Legislation:
While adoption can be expensive, it doesn’t have to be. In fact, many parents adopt children at little or no cost through the Mississippi foster care system. Expenses totaling $1,000 to $5,000 can be subsidized or reimbursed. https://adoption.com/mississippi
On February 6th of 2018, Money Talks discussed Child Care Options for your Budget. http://moneytalks.mpbonline.org/5cd31f1533f6c1be55607d91
According to a Mississippi Department of Human Services 2021 survey: Average weekly, full-time rates for childcare in Mississippi ranged from $125 for infant care to $111 for preschool care. When they are enrolled in full-time care, rates for school-age children average $102 per week.
https://www.mdhs.ms.gov/wp-content/uploads/2021/10/Market-Rate-Report_Final_9.3.pdf
Paying for College?
- 4/19/2022 Community Colleges http://moneytalks.mpbonline.org/episodes/money-talks-community-colleges
- 9/15/2020 Treasurer David McRae http://moneytalks.mpbonline.org/episodes/money-talks-treasurer-david-mcrae
- 9/3/2019 529 Savings Plans http://moneytalks.mpbonline.org/episodes/money-talks-529-savings-plans
- 10/10/2017 Paying for College http://moneytalks.mpbonline.org/episodes/5cd31f1633f6c1be55607d9e
Also parts of:
http://moneytalks.mpbonline.org/episodes/money-talks-student-loans-2022
http://moneytalks.mpbonline.org/episodes/money-talks-its-a-numbers-game
http://moneytalks.mpbonline.org/episodes/money-talks-october-open-topic-episode
http://moneytalks.mpbonline.org/episodes/money-talks-back-to-school-finances
http://moneytalks.mpbonline.org/episodes/5cd31f1533f6c1be55607d6e
http://moneytalks.mpbonline.org/episodes/5cd31f1533f6c1be55607d74
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We’ve got two sides of the same coin today: what to do with inherited items you don’t want and also how acquire things you need when you’re on a budget. We’ll discuss ways to get rid of material items if you are trying to downsize and how to accumulate, inexpensively, household objects you may need.
Useful websites:
https://www.gobankingrates.com/saving-money/home/why-still-wasting-money-storage-units/
https://dengarden.com/cleaning/Stuck-with-Your-Parents-Stuff
https://www.legalzoom.com/articles/7-tips-for-getting-rid-of-your-parents-lifelong-possessions
https://financialgym.com/blog/how-to-furnish-an-apartment-without-breaking-the-bank
https://www.lifehack.org/525095/8-the-best-places-buy-used-goods-online
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We’ve had previous shows talking about cutting expenses. Today’s tips will be ways to use the internet and apps to help you save money. Money that you could then use to invest or pay off debt.
Our suggestions are inspired by AARP https://www.aarp.org/money/budgeting-saving/info-2022/99-great-ways-to-save.html
The 2022 Mississippi Sales Tax Holiday takes place between 12:01 A.M. Friday, July 29, 2022 and 12:00 Midnight Saturday, July 30, 2022. We’ll have a link to the Department of Revenues guidelines on the information for this show.
https://www.dor.ms.gov/sites/default/files/Sales%20Folder/2022%20Sales%20Tax%20Holiday.pdf
Questions:
- Treasury Funds and CDs
- Selling coins: a jewelry store or https://www.apmex.com/
We’d all love to have more money to invest. Before you can find ways to get your money to grow, you have to save money. Budgeting can help you do that. If you need a little help writing out a plan to spend your money each week, this is the show for you.
Instead of a "Budget" call it a "Monthly Spending Plan" if that helps you feel better.
We spend a bit of the show discussing Inflation in addition to budgets (and Kevin's savings account interest rate).
The 2022 Mississippi Sales Tax Holiday takes place between 12:01 A.M. Friday, July 29, 2022 and 12:00 Midnight Saturday, July 30, 2022.
https://www.dor.ms.gov/sites/default/files/Sales%20Folder/2022%20Sales%20Tax%20Holiday.pdf
For a Budget Template: https://consumer.gov/managing-your-money/making-budget
Sometimes it takes hearing a message a few times for it to take hold. If you need to hear more, and a little bit different information about budgets, please listen to our September 17th 2019 podcast titled Money Talks: Budgets
http://moneytalks.mpbonline.org/episodes/money-talks-budgets
Questions:
- Inflation
- Credit vs Debt
- Inflation
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With identity and data theft on the rise, we’d like to suggest what you can do now and if you are informed of a data breach.
Discussion:
- Ida on the economy
- COVID on the economy
- how to get a credit report
- what will they ask
- why freeze creating new credit
- after you freeze your credit
- if your credit report is wrong
- check your Social Security Information at ssa.gov
You might not be able to keep your data from being stolen but we’ve got tips on what to do if it is. These are tips anyone can use to protect their bank account, the retirement, their credit record. ? https://www.fultonbank.com/Education-Center/Privacy-and-Security/personal-data-breach-tips
- Change your passwords
- Sign up for two-factor authentication
- Check for updates from the company
- Watch your accounts, check your credit reports
- Consider identity theft protection services
- Freeze your credit
- Identitytheft.gov
Cyber Security podcast from Aug. 9the 2019 http://moneytalks.mpbonline.org/episodes/money-talks-cyber-security
Check your credit report: https://www.consumer.ftc.gov/blog/2021/03/free-weekly-credit-reports-during-covid-extended-until-april-2022
Phone numbers for the 3 credit reporting bureaus:
Equifax:1 (888) 766-0008
Experian:1 (888) 397-3742
TransUnion:1 (800) 680-7289
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Credit card debt is on the rise. We give some cautionary advice and answer your questions. What do you need to be careful about when using credit cards? Is our situation right now typical? We answer debt or other personal finance questions.
Current stock market
Bonds
Private loads can not be converted to Federal Student Loans
Credit Cards podcast - 08/08/2020
http://moneytalks.mpbonline.org/episodes/money-talks-credit-cards
Free things podcast - 02/09/2021
http://moneytalks.mpbonline.org/episodes/money-talks-free
Get a job with help from MS Department of Employment Security podcast - 05/24/2022
http://moneytalks.mpbonline.org/episodes/money-talks-getting-a-job-with-mdes
The Gig Economy podcast - 04/30/2019
http://moneytalks.mpbonline.org/episodes/5cd31f1533f6c1be55607d54
Recent articles about credit card debt:
https://www.usatoday.com/story/money/2022/06/29/americans-opening-more-new-credit-cards/50422149/
https://abc7.com/credit-card-interest-rates-inflation-cards/12000944/
https://finance.yahoo.com/news/jaw-dropping-stats-state-debt-130036449.html
https://www.cnbc.com/2022/06/09/credit-card-balances-spike-after-stimulus-checks-helped-reduce-debt.html
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According to the Mississippi State Treasurer’s office, the average Mississippi student graduates college with $30,000 worth of debt. Also, 30% of these graduates are reporting delaying major life milestones (getting married, buying a house or car, and even having kids!) We'll discuss and answer questions about student loans.
Blog post that the New Perspectives interns wrote that ties in with the episode of Money Talks about mortgages:
https://newper.blogspot.com/2022/06/heloc-vs-cash-out-refinance.html
Compete to Complete: http://moneytalks.mpbonline.org/5cd31f1533f6c1be55607d6e
https://www.msc2c.org/
https://studentaid.gov/
COVID-19 Emergency Relief and Federal Student Aid
On April 6, 2022, the U.S. Department of Education (ED) extended the student loan payment pause through Aug. 31, 2022. The pause includes the following relief measures for eligible loans:
- a suspension of loan payments
- a 0% interest rate
- stopped collections on defaulted loans
https://studentaid.gov/announcements-events/covid-19
FAFSA website: https://studentaid.gov/h/apply-for-aid/fafsa
Subsidized and unsubsidized loans
Private and government loans
Private education loans are not eligible for consolidation, but for some Direct Consolidation Loan repayment plans, the total amount of your education loan debt—including any private education loans—determines how long you have to repay your Direct Consolidation Loan.
Direct PLUS Loans received by parents to help pay for a dependent student’s education cannot be consolidated together with federal student loans that the student received. https://studentaid.gov/manage-loans/consolidation
Questions:
- Retired and paying student loans
- Private loans
- Loan not reported on credit report
- Subsidized
- For profit college
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Our guest for the show today is Adam Black, Senior Mortgage Loan Specialist with First Commercial Bank. We’ll talk about getting a home loan in today’s climate. Are you considering buying a home or refinancing?
https://www.firstcommercialbk.com/
- S&P Case-Shiller home price index
- recent history of mortgages
- length of time
- types
- credit score
- down payment
- shopping for a mortgage
7/14/2020 Money Talks: First Mortgage http://moneytalks.mpbonline.org/episodes/money-talks-first-mortgage
6/11/2019 Money Talks: Refinancing Mortgages http://moneytalks.mpbonline.org/episodes/money-talks-refinancing-mortgages
6/19/2018 Money Talks: Mortgage Loans
http://moneytalks.mpbonline.org/episodes/5cd31f1533f6c1be55607d7e
3/15/2022 Money Talks: Increase Your Credit Score http://moneytalks.mpbonline.org/episodes/money-talks-increase-your-credit-score
10/2/2018 Money Talks: Credit Score http://moneytalks.mpbonline.org/episodes/5cd31f1533f6c1be55607d6f
Questions:
- HELOC
- HUD home: FHA $100 down program, 203K renovation loan
- Title insurance
- Homeowner's insurance
- School debt / equity loan
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This show isn’t really intended to teach kids about money but today we’ll try to help YOU teach your kids and grandkids about money. We’ll discuss what they need to know at various ages. We’ll also take your “grown-up” money questions.
New Perspectives Blog https://newper.blogspot.com/
https://www.consumerfinance.gov/consumer-tools/money-as-you-grow/
20 Things Kids Need To Know To Live Financially Smart Lives
http://moneyasyougrow.org/
Kids aged 3-5 need to know:
You need money to buy things.
You earn money by working.
You may have to wait before you can buy something you want.
There’s a difference between things you want and things you need.
Kids aged 6 – 10 need to know:
You need to make choices about how to spend your money.
It’s good to shop around and compare prices before you buy.
It can be costly and dangerous to share information online.
Putting your money in a savings account will protect it and pay you interest.
Kids ages 11 to 13 need to know:
You should save at least a dime for every dollar you receive.
Entering personal information like a bank or credit card number online is risky because someone could steal it.
The sooner you save the faster your money can grow from compounding interest.
Using a credit card is like taking out a loan: if you don’t pay your bill in full every month, you’ll be charged interest and owe more than your originally spent.
Kids 14 to 18 years old need to know:
When comparing colleges, be sure to consider how much each school would cost you.
You should avoid using credit cards to buy things you can’t afford to pay for with cash.
Your first paycheck may seem smaller than expected since money is taken out for taxes.
A great place to save and invest money you earn is in a Roth IRA.
Kids over 18:
You should use a credit card only if you can pay off the money owed in full each month.
You need health insurance.
It’s important to save at least three months’ worth of living expenses in case of an emergency.
When investing, consider the risks and the annual expenses.
6/8/2021 Money Talks: Kids Learning http://moneytalks.mpbonline.org/episodes/money-talks-kids-learning
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Do you consider yourself a savvy investor? Would you like to become one? Let’s learn about valuation. How can you tell if a security is undervalued or overvalued? What metrics are used? What is fundamental analysis? We’ll answer these questions and your personal finance calls and emails.
Questions:
- Payoff car or save
- Savings rates https://www.bankrate.com/
- Able accounts http://moneytalks.mpbonline.org/episodes/money-talks-able-accounts July 2, 2019
- Vangard opinion explained
- Investing in private companies
Whether you’re 25, 55, or 75, maybe you’re dreaming of retirement. Today, we’ve got some tips geared for the 25 year-olds but everyone else will find some great information. Are you on fire for retirement? We're talking F. I. R. E.? We learn what that is and take your personal finance questions.
Financial Independence, Retire Early from the 1992 book "Your Money or Your Life"
- save up to 70% of annual income, invest it with the help of a professional
- goal of retiring in 40s to either do nothing or travel or be selective in their job
- once savings reaches 30 times annual expenses you could retire
Calls:
- saving advice
- saving advice
- email - bond interest
- savings bonds
Other resources:
https://www.mrmoneymustache.com/2012/01/13/the-shockingly-simple-math-behind-early-retirement/)
https://www.ramseysolutions.com/retirement/what-is-the-fire-movement#:~:text=Movement%3F-,F.I.R.E.,Be%20confident%20about%20your%20retirement.
https://www.investopedia.com/terms/f/financial-independence-retire-early-fire.asp
https://www.investopedia.com/articles/retirement/08/retiring-early-retirement.asp
https://www.mrmoneymustache.com/2012/01/13/the-shockingly-simple-math-behind-early-retirement/
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Who needs a job? Who needs a better job? Who has no idea what they want to do so they need help figuring out what kind of job would suit them? If you answered yes to any of these – have we got a broadcast for you. Our guests are Daphne James from WIN Job Centers and Adam Todd from the Governor’s Job Fair Network.
https://mdes.ms.gov/
WIN Job Centers https://mdes.ms.gov/win-job-centers/
Governor's Job Fairs https://www.jobfairs.ms.gov/
Don't forget to register to attend! https://wings.mdes.ms.gov/wings/spring/self-service/job-fair/job-fair-registration;jsessionid=429BB51DD0F68C55BA00AAA1AA69A2B2?execution=e1s1
Greenwood Leflore Job Fair:
Begins: 9:00 am, May 25, 2022
Ends: 1:00 pm, May 25, 2022
Leflore County Civic Center
200 Mississippi Hwy 7
Greenwood, MS
East Mississippi Job Fair
Begins: 9:00 am, June 7, 2022
Ends: 1:00 pm, June 7, 2022
The Communiversity 2.0
7003 S Frontage Road
Columbus, MS
I-59 Job Fair
Begins: 9:00 am, June 16, 2022
Ends: 1:00 pm, June 16, 2022
Sawmill Square Mall - inside the old JCPenney
910 Sawmill Road
Laurel, MS
Mississippi Re-Entry Job Fair 2022
When: 06/22/2022 : 9:00 AM - 1:00 PM
Where: MS Agriculture & Forestry Museum - Sparkman Building, 1150 Lakeland, Drive
Jackson, Mississippi
Smart Start https://skillupmississippi.com/smart-start/
Fidelity Bonding Program https://mdes.ms.gov/i-need-a-job/job-searching-resources/fidelity-bonding-program/
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We always talk about what’s in the news at the top of the show but today we’ll discuss what’s in the news the whole show. It’s an Open Topic Day. Our experts take any personal finance question you’d like. They can answer a question about a news story you heard or maybe you’d like a financial term explained better. Ask us anything – within reason.
- Gold standard
- Twitter and the collective wisdom of the market
- Housing – feds supporting more housing
- https://www.ssa.gov/
- Financial terms
- Comforting words during volatility
- Empowering States to Protect Seniors
- Cryptocurrencies
- Investing in electricity
- Student loans
- Money: The True Story of a Made-Up Thing by Jacob Goldstein
- https://www.federalreserve.gov/faqs/how-long-is-the-life-span-of-us-paper-money.htm
Do you have a “My Social Security Account”? After listening to this show, you’ll learn why you need one. Our guest is District Manager for Social Security, Shawn Mercer who is a fantastic resource Money Talks has from time to time to answer your questions personally. Ryder is in the studio taking your personal finance questions.
https://www.ssa.gov/
https://www.medicaid.gov/
National Social Security Phone Number: 1-800-772-1213
Questions:
- International access
- Deceased spouse
- Turning 65
- “State Buy In” https://secure.ssa.gov/poms.nsf/lnx/0600815042
- Universal life insurance
- Reported income
If you aren’t married to the other adult in your home, how do you handle your household finances? The relationships in an unmarried home could be Cohabitation, Roommates, or Intergenerational. Do you discuss who pays the bills? How should expenses be handled? These are some of the questions Money Talks address today in addition to taking your personal finance questions.
- Discuss finances
- Nonmarital Agreement
- Join Purchase Agreement
- Have a will
Questions:
- I Bonds and interest rates (Previous MT show: http://moneytalks.mpbonline.org/episodes/money-talks-open-topic-august
- Robo Investments
- I Bonds
We throw around financial terms on Money Talks. Maybe you’re familiar with them or maybe you’re not. We’ll talk today about some vocabulary that’s good to know. We also answer questions that relate to your personal finances.
In the news:
- streaming
Terms:
- APR
- Blue Book Value
- COBRA
- DRIP
- escrow
- Joint tenancy with right of survivorship verses tenancy in common
- Liability
- Load
- Nonmarital agreement
- Term life insurance verses whole life insurance
An official website of the United States government is consumer finance.gov. It’s part of the Consumer Financial Protection Bureau. Click on their Consumer Education tab to learn more about money topics. https://www.consumerfinance.gov/
According to Merriam Webster.com, the term “check” which refers to something that is used for verifying accuracy, authenticity, correctness began as a detachable stub – like a claim check. “Check” was first applied to the detachable stub in the early 18th century and then to the bank draft—the written order directing a bank to pay money as instructed. https://www.merriam-webster.com/words-at-play/financial-word-origins/capital
From Merriam Webster.com :The term as applied to the stock market derives from the actual use of blue chips in another type of game of stakes—poker. This quote from an 1874 edition of The San Francisco Chronicle nicely connects the two:
If times are good and the market flourishing, the game may be played with ‘blue chips,’ as a gambler would say, the very high-priced stocks being the favorites.
Blue chips in poker have the highest value, with red and white chips as lower denominations.
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One way to increase your earning potential may be attending a Community College. Who are they for? Those right out of college? Those who may have started but not finished a degree? Someone wanting to retrain for a new career? We’ll learn today with our guest Kell Smith, Interim-Executive Director for the Mississippi Community College Board.
(601) 432-6518 https://www.mccb.edu/
info@mccb.edu
Accelerate Mississippi: https://acceleratems.org/
If you cheer for an educational institution because of their mascots, we’d like you to know the Mississippi Community Colleges have 2 Tigers, 2 Eagles, 2 Bulldogs, a Lion a Bobcat and a Wildcat; a Bear and a Wolfpack; plus Indians, Rangers, Trojans, and Warriors.
Some of Mississippi Community Colleges famous students?
- American singer-songwriter, Jimmy Buffett
- engineer and former NASA astronaut Fred Haise
- world record holder for long jump and Olympian Brittney Reese
- award winning immunologist Max Dale Cooper
- United States federal judge The Honorable Michael P. Mills
- and financial expert Dr. Nancy Lottridge-Anderson
On Thursday, April 14th MPB's Auto Correct had the owner of Classic Restoration on the show. Mike Martin talked about how he attended Holmes Community College to learn skills that allowed him to turn his car hobby into a business. http://autocorrect.mpbonline.org/episodes/auto-correct-classics
Questions:
- positive experience with community colleges
- faculty
- one day training
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Are you ready to travel? With restrictions and procedures changing back and forth you might need a little assistance. Need help selecting and booking a vacation? Would you like to experience a city like a local? We’ll learn about different services travel professionals can offer with our guest Jane Halbert Jones from More Than A Tourist. Ryder is on hand to answer your personal finance questions.
https://www.morethanatourist.net/ Affiliate of Magnolia Travel Group
https://www.magnoliatravelgroup.com/
Magnolia Travel Group is a concierge travel agency offering our clients custom & unforgettable travel experiences.
https://www.instagram.com/morethanatourist/
As of 04/12/2022: According to the TSA: At the CDC’s recommendation, TSA will extend the security directive for mask use on public transportation and transportation hubs through April 18th. During that time, CDC will work with government agencies to help inform a revised policy framework for when, and under what circumstances, masks should be required in the public transportation corridor. We will communicate any updates publicly if and/or when they change.
https://www.tsa.gov/news/press/statements/2022/03/10/statement-regarding-face-mask-use-public-transportation
As of 04/12/2022: The CDC has a page for travel notices. CDC recommends that travelers avoid all nonessential travel to Venezuela. Everyone should be fully vaccinated against polio before visiting a long list of countries in Africa, Eastern Europe, and Asia.
https://wwwnc.cdc.gov/travel/notices
https://www.mississippimarkers.com/ is one website that lists some of the marker trails throughout Mississippi. Our state has markers for trails about Mississippi History, Country Music, Writers, Blues Music, Freedom Trail, Mound Trail, and the United States Civil Rights Trail.
https://www.mississippimarkers.com/
Questions:
- I Bonds: MT 08/17/22 http://moneytalks.mpbonline.org/episodes/money-talks-open-topic-august
- Green Travel
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Join Money Talks in playing “It’s A Numbers Game” with numbers that relate to personal finance. Play along with us and test your personal finance knowledge.
Our digits:
2 for 1
W-2 and W-4
Chapter 7 and Chapter 13
65 years old
70 and 1/2 years old
Rule of 72 https://www.investopedia.com/terms/r/ruleof72.asp
401(k), 403(b), and 457
529
1099
By the way: Halley's Comet returns to Earth's vicinity about every 75 years (not 72). But it did visit us in 1066. https://www.space.com/19878-halleys-comet.html
At Money Talks we can’t give you money but we can remind you that you might save money by planning ahead. Compounding interest, buying in bulk, watching for sales are all ways that might put you in a better financial position. We’ll discuss saving money by planning ahead today. We’ll also take your general personal finance questions.
In the news: job rate, yield curve.
Income Tax payments and filings are due Monday, April 18th this year. https://www.irs.gov/individuals/steps-to-take-now-to-get-a-jump-on-next-years-taxes https://blog.taxact.com/planning-next-years-taxes/
- Have a bank account. The fastest way for you to get your tax refund is by filing electronically and choosing direct deposit.
- Consider adjusting your withholding if you owed taxes or received a large refund last year.
- Take action when life changes occur
- Decide if bunching deductible expenses can help you.
- Try to match major deductions to high-income years.
- Contribute to an IRA for next year now.
Atlantic and Gulf hurricane season starts until June 1st. Now is the time to prepare disaster supplies.
https://www.webmd.com/a-to-z-guides/is-it-safe-to-reuse-plastic-water-bottles
https://www.ready.gov/kit
5/8/2018 Money Talks: Financial First Aid Kit http://moneytalks.mpbonline.org/episodes/5cd31f1533f6c1be55607d84
03/30/2021 Preparing for Emergencies http://moneytalks.mpbonline.org/episodes/money-talks-prepare-for-emergencies
9/7/2017 Money Talks: Emergency Financial Preparedness http://moneytalks.mpbonline.org/episodes/5cd31f1633f6c1be55607da4
- Rotate your disaster kit’s non-perishable food in your regular pantry so you don’t let food expire and go to waste.
- Reuse water jugs, safely by washing between uses. We can have a link on how to do this.
- Watch for sales at the grocery store and stock up when regularly used items have lower prices.
- Keep your generator maintained or buy one if you think you might want one during a disaster.
- Keep your vehicle’s fuel topped off.
Families can lock in tuition rates and prepay their child’s tuition and fees. Currently for newborns who would enter college in 2039, parents could pay $38,812 one time or pay $395 monthly for 4 years of university tuition.
Treasurer David McRae was a guest on Money Talks September 15th of 2020 and discussed this and our other college savings program. http://moneytalks.mpbonline.org/episodes/money-talks-treasurer-david-mcrae
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If you’d like a to buy a vehicle or a home, there might not be one for you to get a loan for right now. You could take this time to improve your credit score, so you’ll be ready when the supply is more plentiful. We’ll be giving suggestions on how you can raise your credit score on the show today and also taking personal finance questions.
Experian Boost program: https://www.experian.com/consumer-products/score-boost.html
Credit building loan: https://www.experian.com/blogs/ask-experian/how-do-I-get-a-credit-builder-loan/
Maintain your vehicle longer: http://autocorrect.mpbonline.org/
Free credit reports from: https://www.annualcreditreport.com
More information from Consumer Financial Protection Bureau: https://www.consumerfinance.gov/
More ways to improve your credit score: https://www.myfico.com/credit-education/improve-your-credit-score
Money Talks shows about credit score:
Past Credit shows
- 083121 http://moneytalks.mpbonline.org/episodes/money-talks-new-credit-freeze
- 051220 http://moneytalks.mpbonline.org/episodes/money-talks-credit-counseling
- 020420 http://moneytalks.mpbonline.org/episodes/money-talks-credit-reports-and-new-fico-score
- 100218 http://moneytalks.mpbonline.org/episodes/5cd31f1533f6c1be55607d6f
- 070318 http://moneytalks.mpbonline.org/episodes/5cd31f1533f6c1be55607d7c
Questions:
- remove a name from an account
- rebuilding credit
- using a credit card
- retired debt free
- check credit score
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We hear the news but sometimes wonder “how does that affect me?”. Today’s your chance to ask our personal finance experts how the war in Europe affects you. We’ll also talk about our Mississippi legislature and student loans.
As of 03/01/2022
Bills alive: House Bill 530: Teacher pay raise, HB 770 and SB 2451: Equal pay bills, HB 1029: Increasing broadband access, HB 1367: Removing racist language from property deeds
Bills dead (? dead dead?): SB 2643: Divorce law reform, SB 2634: TANF savings accounts,
You have less than 41 days to pay your personal income taxes. For this year, the deadline to file your income tax is April 18, though you can file an extension for October 15. Remember that even if you file an extension, if you owe money, you must make income tax payments by April 18, 2022 to avoid interest and penalties.
The United States Continues to Impose Costs on Russia and Belarus for Putin’s War of Choice https://www.whitehouse.gov/briefing-room/statements-releases/2022/03/02/fact-sheet-the-united-states-continues-to-impose-costs-on-russia-and-belarus-for-putins-war-of-choice/
Redeeming coupons makes shoppers feel smart — like they've outfoxed a brand. One study found customers who received coupons released feel-good oxytocin hormones and their heart rates decreased. https://www.cnn.com/2022/03/05/business/coupons-history-jcpenney-macys-procter-and-gamble/index.html
Federal and private student loan borrowers in Mississippi owe an average of $33,182 in debt, which is 10% less than the U.S. average.
https://studentaid.gov/announcements-events/covid-19
Questions:
- Inherited IRA
- moving money
- student loans
- social security
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One size doesn’t fit everyone. And there isn’t one type of investment. If you’re looking for that “just right investment” for your savings or a tax refund, we have quite a few options today that aren’t the stock market.
Money Talks recently got an email from a listener that said:
I've got 250k in a bank savings account that earned a whopping 54 bucks last year and 2.06 last month. I need to invest in “something” but I don't like the markets. Ideas?
This seems like an email that could take a whole show to answer, so we will take the whole show to give some options and see what our investment professionals think.
The two major U.S. financial securities markets are the New York Stock Exchange and Nasdaq.
In April 2007, the New York Stock Exchange merged with a European stock exchange known as Euronext to form what is currently NYSE Euronext. The American Stock Exchange (AMEX) previously the 3rd largest stock exchange, was acquired in 2008 by NYSE Euronext.
The NYSE is 3 times the size of the world’s 3rd largest stock exchange – Shanghai. Euronext and the Japan Exchange Group are next is size by market capitalization of listed companies.
CFA 18th Annual Forecast Dinner (worth the wait!) https://newper.blogspot.com/2022/02/cfa-18th-annual-forecast-dinner-worth.htmlDiscussion:
- Population growth
- War in Ukraine
- Real Estate Investment Trusts
- Peer-to-Peer Lending
- Savings Bonds; Tool to help you find savings bond information https://treasuryhunt.gov/#:~:text=Treasury%20Hunt%20is%20our%20online,and%20no%20longer%20earning%20interest).
- Gold
- Certificates of Deposit
- Venture Capital
- Annuities
Other options we didn't have time to discuss:
https://www.gobankingrates.com/investing/stocks/investment-options-other-than-stock-market/
Questions:
- Home equity load
- stock investment evaluation
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Today is an Open Topic show. We’ll have some money finding, spending, and saving tips. Information about jobs and tax tips will also be given out. This is all between your personal finance questions and email.
- Uncertainty - VIX is the ticker symbol and the popular name for the Chicago Board Options Exchange's CBOE Volatility Index, a popular measure of the stock market's expectation of volatility based on S&P 500 index options. Don't REACT but do REVIEW. Liz Ann Saunders on twitter. https://twitter.com/LizAnnSonders
- Ryder's current book: The Price You Pay For College by Ron Lieber https://ronlieber.com/books/the-price-you-pay-for-college/
- Recycle and gift cards or coupons: https://finance.yahoo.com/news/target-amazon-4-more-retailers-200024608.html#aoh=16448433239452&csi=1&referrer=https%3A%2F%2Fwww.google.com&_tf=From%20%251%24s&share=https%3A%2F%2Ffinance.yahoo.com%2Fnews%2Ftarget-amazon-4-more-retailers-200024608.html
- Monroe County Job Fair – in Amory February 24th. Louisville-Winston County Job Fair is March 3rd. Neshoba County Job Fair in Philadelphia is March 9th. https://www.jobfairs.ms.gov/event-calendar
- St. Patrick's Day on March 17th. National Ravioli Day on March 20 and Pi Day on March 14.
- Discounts on winter sports gear, unsold grills and air conditioners, and tax software.
- MPB’s Java Chatman mentioned on Deep South Dining heard on MPB Monday’s at 9am. That the Girl Scouts are selling cookies a little differently this year. There’s an app now – Girl Scout Cookie Finder. With the pandemic the Girl Scouts have set up an app to give you the dates and location of their table sales at grocery stores and shopping centers. You can turn on the location sharing feature or just put in a zip code. Apple App or the Google Play Store
- Have you checked for lost money lately? Treasury dot ms dot gov is where you can start your Unclaimed Money search. https://treasury.ms.gov/ Or listen to our podcast: http://moneytalks.mpbonline.org/episodes/money-talks-treasurer-david-mcrae
Questions:
- Swiffer tip
- Transfer on Death
- Social Security information and tax filing http://moneytalks.mpbonline.org/episodes/money-talks-ssagov
- online banking
- savings for college 529 plans podcast http://moneytalks.mpbonline.org/episodes/money-talks-529-savings-plans
- contribute to church from IRA
- never filled IRS
- Set up account
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According to a report from the Federal Trade Commission: Romance Scammers Steal a Record 547 Million Dollars. Adults 70 and older had $9,000 median loss in 2021. Money Talks wants to make sure the person that steels your heart doesn’t steel your wallet. https://www.ftc.gov/news-events/blogs/data-spotlight/2022/02/reports-romance-scams-hit-record-highs-2021?utm_source=govdelivery
You can help stop scammers by reporting suspicious profiles or messages to the dating app or social media platform where you found them. Then, tell the FTC at https://reportfraud.ftc.gov/#/
If you are the victim of a romance scam, report it to the FBI and your financial institution. In some cases, money that victims sent by wire can be recovered if the fraud is immediately reported.
You can learn more about romance scams at the website: https://www.consumer.ftc.gov/articles/what-you-need-know-about-romance-scams
Ryder mentions:
- Tinder Swindler Official Trailer https://www.youtube.com/watch?v=_R3LWM_Vt70
- Coin Desk https://www.coindesk.com/
- Coinbase https://www.coinbase.com/
- Gemini https://www.gemini.com/
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We’ve got a guest on the show who has a very particular set of skills, skills he has acquired over a very long career, skills that make him . . . a fantastic guest for Money Talks. District Manager for Social Security, Shawn Mercer. Shawn answers social security questions while Nancy and Ryder take personal finance questions.
- Many questions can be answered from information found on the Social Security website: https://www.ssa.gov/
On the SSA website you can also find information about Emergency Assistance for Homeowners and Renters. If you’re a renter, a homeowner, or landlord look through their information to see if you qualify for help.
- That national phone number is 1-800-772-1213 if you need to call or call your local SSA office.
Consider following Social Security on social media. There are tweets about current events, protecting your identity, and reminders on what Social Security is all about.
Calls:
- how much can you make after your retire
- outstanding debt to Social Security
- what to know / when to retire
- why go to the office?
- back to work after disability
- nursing home
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The Mississippi House approved a bill last month to phase out the personal income tax, reduce the grocery tax and increase the state sales tax on most items. What do you think? We’ll learn about the measure with our guest Dr. Brian Pugh, Executive Director for the Stennis Center for Public Service author of the book “Chaos and Compromise: The Evolution of the Mississippi Budgeting Process”.
https://stennis.gov/about-us/stennis-center-staff/dr-brian-pugh-biography/
House Bill 531- phasing out the personal state income tax - The Mississippi Tax Freedom Act of 2022 http://billstatus.ls.state.ms.us/2022/pdf/history/HB/HB0531.xml
News reports:
https://www.clarionledger.com/story/news/politics/2022/01/12/philip-gunns-plan-cut-mississippi-income-taxes-ready-vote/9176793002/
https://www.supertalk.fm/mississippi-house-of-representatives-votes-to-eliminate-income-tax/
https://www.natlawreview.com/article/mississippi-house-revisits-income-tax-phase-out-2022
https://www.usnews.com/news/best-states/mississippi/articles/2022-01-11/mississippi-house-panel-oks-bill-to-phase-out-income-tax
https://www.mpbonline.org/blogs/news/mississippi-house-of-representatives-pass-bills-on-income-tax-and-teacher-pay/
Calls:
- How does it affect low income earners
- Revenue stream and budget shortfall
- What percentage is revenue stream
- Pro Income Tax elimination
- Attracting new residents
- Grocery Tax
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Housing costs may be a big portion of your budget. Our expert is going to give his opinion on ways to cut some of your expenses associated with how you live.
A recent article on the website: https://www.moneycrashers.com/jobs-provide-free-housing/ has a list of ways to save money on housing costs. The suggestions range from easy to drastic.
- reduce water and electricity usage
- make sure your home is insulated and well maintained
- do your own maintenance and repairs
- improve your credit before getting a mortgage
- remove PMI from your mortgage payment
- House Hack - find a way for someone else to cover your housing expenses (Here's our podcast about Airbnb http://moneytalks.mpbonline.org/episodes/5cd31f1633f6c1be55607d95 )
- Move to a More Affordable Housing Market
- Buy a multifamily property and move into one unit and rent out the others.
- Downsize to a Smaller Home
- Move into an Attached Home
- Consider Renting
- Buying a house to flip and living in it until you sell it
- find a job that provide free housing
Calls:
- paying off mortgage early
- ADU
- how much money to put into a house
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What software do you use for Personal Finance? Do you use a program to do your taxes? Do you keep track of your budget on your phone with an app, or on your PC with software? We’ll tell you some options and we want to hear what works for you.
- What to consider when looking at software
- What are examples
- IRS news
- Budgeting software
- What to lookout for
https://www.nerdwallet.com/article/taxes/best-tax-software
https://www.irs.gov/filing/free-file-do-your-federal-taxes-for-free
https://www.irs.gov/newsroom/national-taxpayer-advocate-delivers-annual-report-to-congress-focuses-on-taxpayer-impact-of-processing-and-refund-delays
https://home.treasury.gov/news/press-releases/jy0553
https://www.techradar.com/best/best-personal-finance-software
https://www.pcmag.com/picks/the-best-personal-finance-services
https://www.thebalance.com/best-personal-finance-software-4171938
https://www.theatlantic.com/technology/archive/2013/04/what-tax-preparation-software-looked-like-in-1991/274985/
https://en.wikipedia.org/wiki/TurboTax
https://www.investopedia.com/personal-finance/best-budgeting-software/
https://www.hp.com/us-en/shop/tech-takes/best-personal-finance-software-apps
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New Year means a new start for good habits. Let’s talk about your money plans for 2022. What are your savings goals? Your retirement contribution goals? Do you have a budget to help you achieve these goals?
- News
- If you receive extra money
- New financial contribution limits
- Look over last year's financial plan
- Budget
Is eating out “eating” into your ability to save? By planning meals to eat at home or bring from home, you might be able to put more money towards savings or retirement.
Apple TV plus, Amazon Prime Video, Disney Plus, Netflix, HBO Max, Paramount Plus, Peacock, Hulu, Discovery Plus. Do you pay for each of these? Some of these? What could you do without to save money each month?
Do you still need life insurance now? Is your car over insured? Is your homeowner’s insurance at the correct amount? Take some time to check over your insurance to see if you can save yourself some money.
Podcast just on budgeting. Look for that from September 17th of 2019.
http://moneytalks.mpbonline.org/episodes/money-talks-budgets
Calls:
- who are these suggestions for
- returning item bought on credit card
- tax advantage of gifts
- long term care
- life insurance
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New Year means a new start for good habits. Let’s talk about your money plans for 2022. What are your savings goals? Your retirement contribution goals? Do you have a budget to help you achieve these goals?
- News
- If you receive extra money
- New financial contribution limits
- Look over last year's financial plan
- Budget
Is eating out “eating” into your ability to save? By planning meals to eat at home or bring from home, you might be able to put more money towards savings or retirement.
Apple TV plus, Amazon Prime Video, Disney Plus, Netflix, HBO Max, Paramount Plus, Peacock, Hulu, Discovery Plus. Do you pay for each of these? Some of these? What could you do without to save money each month?
Do you still need life insurance now? Is your car over insured? Is your homeowner’s insurance at the correct amount? Take some time to check over your insurance to see if you can save yourself some money.
Podcast just on budgeting. Look for that from September 17th of 2019.
http://moneytalks.mpbonline.org/episodes/money-talks-budgets
Calls:
- who are these suggestions for
- returning item bought on credit card
- tax advantage of gifts
- long term care
- life insurance
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Money Talks wants to help you today to Prepare Before the Storm. That “storm” might be weather, economic, or family issues. We’ve got some websites and some suggestions.
New Perspectives blog posts: https://newper.blogspot.com/
Financial Resilience And Mutual Aid Saturday, February 20, 2021
On Preparedness Friday, February 19, 2021
In the News:
- PPP loans expanded
- Job losses going down
- Suez Canal ship stuck
- Non-fungible tokens
Emergencies savings for loss of income, vehicle replacement, medical care
Resilient Budgets
Where to keep funds
Emergency Financial First Aid Kit https://www.ready.gov/sites/default/files/2020-03/ready_emergency-financial-first-aid-toolkit.pdf
Be Prepared For A Financial Emergency
https://www.ready.gov/sites/default/files/2021-01/ready_financial-emergency_info-sheet.pdf
Calls:
- start saving early - be a part of your community
- Community Emergency Response Team https://www.ready.gov/cert
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If you are a renter or a landlord, you'll particularly want to listen today’s Money Talks. Our guest is the Executive Director for Mississippi Home Corporation. Scott Spivey talks about the agency and the grants available to Mississippians who can’t pay rent during this pandemic. He discusses programs for first time home buyers and rehabilitation assistance. Our expert hosts are also available to answer personal finance questions. https://www.mshomecorp.com/ https://www.newper.com/
RAMP – the rental assistance program. It’s for those impacted by COVID-19 - renters and landlords
www.ms-ramp.com If you need assistance or wish to speak to a representative, call 601-533-8401 (local) or 1-888-725-0063 (toll-free) **Harrison County received its own funds for rental assistance. If you are a resident of Harrison county and wish to apply, you must call the Open Doors Homeless Coalition at 228-604-8011.
Trailers too!
The Emergency Solutions Grant COVID-19 (ESG-COVID) program created by the CARES Act funds is designed to prevent and respond to the coronavirus pandemic (COVID-19). Individuals and families who have been laid off or have current income under 50% of area median income (AMI) and individuals who are homeless or receiving homeless assistance are eligible to receive funds. https://ms-ramp.com/esg/
Twitter: https://twitter.com/MSHomeCorp https://twitter.com/NewPerMS https://twitter.com/MPBOnline
First time homebuyers assistance
Youth Drawing Competition
Partnerships with developers
In the news:
- COVIF-19 funeral assistance from FEMA https://www.fema.gov/disasters/coronavirus/economic/funeral-assistance
- COBRA subsidy during pandemic https://www.natlawreview.com/article/new-covid-relief-act-provides-cobra-premium-subsidies-and-increased-exclusion
Calls:
- annuity
- mortgage assistance
- PPP loans through your bank
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Do you have a question about recent financial news? Do you have a question about your own person finances? Today’s a great day to contact us. It’s an Open Topic Day.
- The pause on student loan repayment initially put into place under former President Donald Trump and twice extended by Biden is set to expire on Jan. 31.
- The last of the child tax credit from the American Rescue plan were sent out last week.
- The Federal Reserve said last week that interest rates will stay near zero for now.
- “10 Surefire Tax Tips For Year-End 2021” https://www.forbes.com/sites/ashleaebeling/2021/12/08/10-surefire-tax-tips-for-year-end-2021/?sh=ed7aed61bfc3
- January typically has discounts on bedding and linens, fitness equipment, and TV and electronics – those just before the Super Bowl. https://www.nerdwallet.com/article/finance/what-to-buy-every-month
- Many of the nation’s largest banks are cutting overdraft and non-sufficient funds fees for customers in 2022. Lawmakers and regulators have criticized banks for penalizing already cash-strapped customers.
Explaining Dot Plot: https://www.bankrate.com/banking/federal-reserve/federal-reserve-dot-plot-explained-how-to-read-interest-rates/
Federal Reserve: https://www.federalreserve.gov/monetarypolicy/files/fomcprojtabl20210922.pdf
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Money Talks likes to go back and forth on it’s topics. One week we have financial information for money novices; another week we cater to sophisticated investors. Today we’ll learn about “multiples”.
- Stock multiples
- After you calculate a company’s financial ratio, what do you do then?
- Enterprise value multiples and equity multiples
- What would we want to know about the company “Kevin’s Sneakers” to evaluate its stock price?
Calls:
- TIPS
- IRA funds to charities
- RMD age
https://newper.blogspot.com/2021/11/insurance-series-post-3-home-base.htmlMoney Talks expert hosts are Chartered Financial Analysts from New Perspectives. They’ve posted a new blog on their website new per.com
Money Talks can be heard live on MPB Think Radio Tuesdays at 9am. Or listen to the podcast.
Our website is moneytalks.mpbonline.org.
Email us your questions: money@mpbonoine.orgInsurance Series - Post 3: Home BaseOur home is the physical center of our lives. It shelters us. It houses our possessions. It's where we spend time when we have no where else to be. It can even be where we put together a family baseball game! Many of us are buying, remodeling, building or have dreams of doing these things. All of these are investments of our time, energy, money, and future. But, are they adequately protected? Maybe not.
Most people believe house insurance has but one question: Do you have it? Yes? Ok, I'm good to go. But, are you? I realize it's not leisure reading to sit down with your homeowner's insurance policy and read through it. It's not a novel. It's more of a gameday playbook you should be familiar with. It can be understood. But, it helps to have some coaching and practice.
There are pieces to a homeowner's policy that you should educate yourself about.
- Do you know how your insurance company will determine what to pay on a claim?
- If you remodel your home, you may need to increase your insurance coverage. Did you know that if something happens to your newly remodeled home, your insurance company may deem your home underinsured and would pay less in the event of a claim?
- Your homeowners insurance protects your other assets too. If your dog gets too excited and accidentally injures someone on your daily walk, does your policy adequately protect your savings and investments?
- Or, maybe you are considering a pool for next summer. How will that affect your coverage? Or if you do put together that family baseball games and someone gets hurt, are you covered?
If you can't answer these questions, or you do not feel thoroughly confident in your home insurance facts, now is the time to change that! Visit your trusted insurance agent, then schedule time with someone at New Perspectives. While we do not sell insurance, we can help you decide the coverage that best protects your home, your peace of mind, and your financial future. So, you can feel SAFE at your home base!
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Is paper cluttering up your home? Does it add to your stress rather than give you financial comfort? We’ll talk today about what important documents you should keep and for how long.
- Where to store paper
- Where to store digital
- Tax returns and supporting documents
- Pay stubs, bank statements, credit card statements
- Utility bills
- ATM receipts
- Home purchase records
- Home mortgage records
- Rental records
- Brokerage statements
- What to keep forever
- What else to keep
- Dispose of paper
- Safe digital records
IRS Topic number 305 Recordkeeping https://www.irs.gov/taxtopics/tc305
Suggestions from Ryder:
https://www.macrumors.com/2021/12/06/life360-selling-location-data-of-millions
https://gizmodo.com/verizon-may-have-just-enrolled-you-in-a-data-collection-1848156157
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Why do YOU give to charities? Our crew will give their reasons while you think about yours and think about any questions, you’d like to ask our Chartered Financial Analysts about making charitable donations or any personal finance question that comes to mind.
Extra reading: https://www.usa.gov/donate-to-charity
https://www.fbfs.com/learning-center/6-surprising-facts-about-charitable-giving
Scams 3/13/2018 http://moneytalks.mpbonline.org/episodes/5cd31f1533f6c1be55607d8c
Community Foundation 12/01/2020 http://moneytalks.mpbonline.org/episodes/money-talks-community-foundations
Giving Tuesday 2019 12/03/2019 http://moneytalks.mpbonline.org/episodes/money-talks-giving-tuesday-2019
2018 http://moneytalks.mpbonline.org/episodes/5cd31f1533f6c1be55607d67
Charity Fraud with then Secretary of State Delbert Hosemann 09/26/2017 http://moneytalks.mpbonline.org/episodes/5cd31f1633f6c1be55607da0
2016 http://moneytalks.mpbonline.org/episodes/5cd31f1633f6c1be55607dbf
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https://newper.blogspot.com/2021/11/your-spending-and-your-values.html
Friday, November 19, 2021
Your Spending and Your Values
Money Talks expert hosts are Chartered Financial Analysts from New Perspectives. They’ve posted a new blog on their website new per.com
Money Talks can be heard live on MPB Think Radio Tuesdays at 9am. Or listen to the podcast.
Our website is http://moneytalks.mpbonline.org/
Email us your questions: money@mpbonoine.org
Do you dream of retiring from your job? No so fast. We have a list of boxes to “check off” in the decade before you make this dream a reality. The final decade before retirement is an opportunity to strengthen a retirement plan and tie up any remaining details that can help secure your future.
Brighthouse Financial published an article that will be our guide for our discussion today: A Checklist for the Decade Before Your Retirement Date https://www.usatoday.com/interactives/sponsor-story/brighthouse-financial/a-checklist-for-the-decade-before-your-retirement-date/
Our experts discuss their suggestions:
- Review your savings.
- Adjust your investment mix.
- Make a plan to pay off debt.
- Estimate retirement expenses.
- Examine options to cover medical costs
- Develop a retirement income plan.
- Review options for Social Security.
- Develop a plan for enrolling in government benefit programs.
Friday, November 19, 2021
How and WHY are you buying Bitcoin?
This blog post a too long to post here. Please follow the link above to read about Bitcoin.
https://www.newper.com/
Money Talks expert hosts are Chartered Financial Analysts from New Perspectives. They’ve posted a new blog on their website new per.com
Money Talks can be heard live on MPB Think Radio Tuesdays at 9am. Or listen to the podcast.
Our website is moneytalks.mpbonline.org.
Email us your questions: money@mpbonoine.org
Diversification is a buzz word for your investment portfolio. We’ll talk about two ways you could do that: mutual funds and ETFs – exchange traded funds. Are they the same? How are they different?
New Perspectives puts up a new blog post. Here's the latest. It's about Inflation:
https://newper.blogspot.com/2021/11/chicken-little.html
http://moneytalks.mpbonline.org/episodes/money-talks-inflation-blog
Discussion:
- inflation
- cash back credit cards
- Medicaid premiums
Mutual Funds:
- What are they?
- How are they managed?
- What types are there?
- How can they make us money?
- Can they lose money?
Exchange Traded Funds - ETFs
- How do they compare to mutual funds?
- How easy is it to invest?
- Bit Coin ETF
Call - how are advisor's are paid
https://newper.blogspot.com/2021/11/chicken-little.html
Money Talks expert hosts are Chartered Financial Analysts from New Perspectives. Their firm has researched additional information about inflation in 2021. Please read their post here. Money Talks can be heard live on MPB Think Radio Tuesdays at 9am. Or listen to the podcast. moneytalks.mpbonline.org is our website. Email your questions: money@mpbonoine.org
Chicken LittleThe sky is falling! The sky is falling!
Or is it?
We just got the latest numbers on inflation. The data show that inflation increased 6.2% for the 12 month period ending in October of this year. That’s WAY beyond the historical average of 3% annually and stirred up the inflation ghosts of the 80s. While we take inflation pressures seriously, we find there are some mitigating factors here and some variables that mean these numbers will moderate.
First, this is being measured against the twelve months ending in October, 2020, when we were, mostly, in pandemic mode. Much of the twelve months from November, 2019, through October, 2020, were spent in full or partial lockdown. That means we are measuring from a low point. The previous inflation rate for that period is 1.2%, much lower than the historical average.
And what determines prices? Supply and demand. And we have some weird things going on for both sides of the equation.
On the supply side, we our seriously bogged down. Factories are trying to gear back up to full steam. Ships are backed up at ports. There are not enough drivers to deliver goods. There is a multitude of variables contributing to the mess, but it’s not permanent. Gradually, we will see the chain unkink, but, right now, inventory levels are low. Want the hottest Christmas toy? You’re going to pay big bucks.
And what of the demand side? We’ve all been hunkered down, spending less and accumulating more. As my mother used to say, “The money is burning a hole in our pockets.” And we’re not just buying stuff. Now, we are buying experiences—booking travel like there’s no tomorrow.
More people chasing fewer goods/services. It’s a recipe for classic inflation. But will we keep spending like drunken sailors? Probably not. Things will slow down. We’ll get it all out of our system and settle back into normal patterns.
And what about the biggest cost of business? Labor. Well, we are waiting to see how this pans out. Yes, the labor market is tight, and wages are increasing. Will they stick? In some cases, yes. In areas with a lot of turnover, maybe not.
Ultimately, we believe prices will moderate, but don’t expect to go all the way back down to earth. For the last decade, inflation has been in the 2% range or less. We expect it to go above historical levels in the next year or two and hover in the mid 3% range. That’s highER inflation but not HYPER inflation.
So, when it comes to inflation, it’s a little cloudy, but we don’t think the sky is falling.
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We hope our listeners are familiar with some of the different types of financial institutions. Many in Mississippian aren’t. Many of us are un-banked. Money Talks going to talk about Credit Unions today with our guests from Hope Credit Union.
Felicia Lyles, HOPE Senior Vice President of Retail Operations and Carrus King, HOPE Vice President and a Branch Manager of Hope Credit Union will tell us how they are trying to help educate Mississippians against predatory lending and the benefits of having a banking relationship. Ryder will be taking your general personal finance questions.
Jackson branch of Hope Credit Union 601-965-7100
https://hopecu.org/
https://www.mycreditunion.gov/
Discussion:
- GE stock
- Hope history
- Transformational deposits
- Member benefits
- Services availalble
- Unbanked
- Predatory lending
Calls:
- infrastructure
- home loans with student loan debt
- how to invest
Money Talks loves bringing in expert guests to bring you a variety of topics but sometimes we just sit back and encourage you to call in about anything you’d like to discuss when it comes to your personal finance. We do have a selection of stories that have been in the news to discuss between your questions.
Discussion:
- "Stay the course" - S & P up this year
- Meta -verse
On April 13th, 2021 Money Talks hosted Executive Director for Mississippi Home Corporation, Scott Spivey. We learned about the Rental Assistance For Mississippians Program known as RAMP. You can find our podcast from April 13th 2021 for additional information. http://moneytalks.mpbonline.org/episodes/money-talks-ms-home-corp
https://ms-ramp.com/
NPR recently reported that a California man in 2014 bought a season pass at Six Flags for $150 that included two meals a day. He has eaten nearly every meal at Six Flags over the last 6 years. He says with all his savings, he paid off his student loans and bought a house.
https://www.npr.org/2021/10/26/1049222059/california-man-has-eaten-nearly-every-meal-at-six-flags-over-the-last-6-years
The head of the office of Federal Student Aid told lawmakers that his agency is preparing for federal student loan repayments to resume early next year. https://www.npr.org/2021/10/28/1050110273/4-things-to-know-about-possible-changes-to-your-student-loan-debt
If you are employed by a U.S. federal, state, local, or tribal government or not-for-profit organization, you might be eligible for the Public Service Loan Forgiveness Program. https://studentaid.gov/manage-loans/forgiveness-cancellation/public-service
According to various websites, here are recommendations
On what TO buy in November:
- Smart home devices, Cookware and small kitchen appliances, Smartwatches and wearables, Smartphones, wine, baking ingredients, travel - other than Thanksgiving, tools, and cookware
Here’s what NOT TO buy in November:
- Doorbuster TVs – wait to buy before the Superbowl, Ultra-low-price laptops (There is disagreement about these items. Some say the electronics offered aren’t the best quality.) Jewelry, Holiday merchandise – buy after Christmas, A new car – there’s a tight supply due to chip shortage, Large appliances and mattresses – buy these Independence Day, Labor Day and Memorial Day sales.
Mississippians enrolled in the Supplemental Nutrition Assistance Program are eligible for a supplemental benefit in November. Similar benefits were offered over the previous months to assist certified SNAP households during the pandemic, Mississippi Department of Human Services officials said last week. Check for eligibility for SNAP benefits https://www.mdhs.ms.gov/economic-assistance/snap/
Calls:
- debt ceiling
- meta money
- IRAs and Roth IRAs
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As you age or your parents age, discussions and planning may need to take place concerning paying for nursing home care. Our guest, attorney Kelly Kyle from Kyle Wynn and Associates http://www.kyle-wynn.com/ will answer your questions about how to protect your family’s assets from nursing home costs.
Kelly Kyle even helped write the book: How to Protect Your Family’s Assets from Devasting Nursing Home Costs – the Mississippi Edition.
It's Open Enrollment - now to Dec 7 for Medicare. The website medicare.gov might answer your questions. The Social Security Administration’s website: ssa.gov also has Medicare information for you.
Discussion:
- covid economy recovery
- supply of goods
Calls:
- how to protect your assets
- Medicaid with a home
We’re covering 3 topics today: Cryptocurrencies, Required Minimum Distributions, signing up for Health Care. This is a special Money Talks. We didn't take your personal finance phone calls because we’re giving you the opportunity to call and make a contribution to support Money Talks and MPB. The contribution phone number is 1-888 – 372 – GIVE. 1-888-372-4483 or contribute online at mpbonline.org or click the support button on the MPB Public Media App.
Fall 2021 Drive Time link: https://donate.mpbfoundation.org/mspb/podcast
Discussion
- Social Security Cost of Living Adjustment
- How the finanical markets are doing
Healthcare.gov
Who needs to sign up
How to sign up
Cryptocurrencies
Extra info: New Exchange-traded fund tied to Bitcoin futures begins trading on Wall Street https://www.marketplace.org/shows/marketplace-morning-report/new-exchange-traded-fund-tied-to-bitcoin-futures-begins-trading-on-wall-street/
Required Minimum Distributions
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Want to save money while you travel? Will you be traveling during the holidays? Whether it’s traveling around town, the state, or the country, we’ve got some tips to discuss that will help you stretch your dollars.
https://www.ytravelblog.com/
Free things:
- Catch a magnificent sunset or sunrise
- Take a walk or bike ride.
- Play in the park.
- Swim at the beach or lake.
- Visit a state park and walk their trails
- Visit a market.
If you like libations on your vacation -purchase your alcohol from a store. Or take advantage of any happy hours and don’t drink expensive import stuff – give the local stuff a go.
- Eat out for Breakfast, Lunch or Brunch: Try and avoid dinner as restaurants raise prices. OR, have brunch instead of 3 meals a day.
- Eat Away from the Tourist Streets:Just go one street or one block over and it will usually be much cheaper and more authentic!
- Have Picnics:Purchase food in a local grocery store or a market and arrange a picnic in one of the city’s parks with great views.
- Self-Cater Where You Can:Purchasing your own supplies and cooking-in can save you big bucks while you travel.
- Use Coupons:Do your research to find travel discounts and coupons for the areas you are visiting. Check out the brochure shelf in the lobby of your hotel. Visit the local tourist information offices for free maps and ideas. Tourist booklets and brochures. Back of supermarket receipts.
- Websites (local tourist boards and businesses and coupon sites).
- Have Breakfast Included:When booking a hotel or hostel look for one with breakfast included.
- Eat Street Food: The reasons are because it’s cheap, you help the locals, and it’s safe – you can see what is actually being cooked and is cooked fresh right in front of you.
SHOP AROUND FOR TRAVEL INSURANCE – it can vary by company and how inclusive the insurance it is. Will it cover pandemics? Check and see – IF you want to pay for that level of coverage.
Calls:
- IRS tracking your money
- tourist vs. local
- beware of skimming
- camping, eat local
- eat local
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What do you need to know to invest in the stock market? How does an investor pick a stock? Are stocks that pay dividends better than those that don’t? We take your stock questions and your personal finance questions.
Seven things an investor should consider when picking stocks:
- Earnings growth
- Stability
- Relative strength in industry
- Debt-equity ratio
- Price-earnings ratio
- Management
- Dividends
We’ve got one of our most popular shows each year for you today. Our guest, Shawn Mercer from Social Security will answer your questions. Ryder Taff can take your personal finance questions.
https://www.ssa.gov/
Workforce Wednesdays is a program from the Education Department of MPB. Dr. Tara Wren, Director of Education and Jasmine Harvey, Student Engagement Specialist are with us today to explain the initiative and let us know how anyone in Mississippi can participate. https://gettingtowork.mpbonline.org/ https://education.mpbonline.org/
Participants in Workforce Wednesday get information about workforce development including mentoring programs, apprenticeships, work-based learning and soft skills. With the pandemic these networking get togethers are virtual so anyone can participate.
Workforce Wednesday occurs every third Wednesday at 11:30 a.m. It’s a service of the Education Department of Mississippi Public Broadcasting.
Project SEARCH Mississippi:
An MDRS Workforce Initiative
September 15, 2021
11:30 a.m. - 12:30 p.m.
Project SEARCH connects high school seniors with disabilities to employers waiting to hire them after they graduate. Learn more about this program and how your school or employer can get involved.
Videos:
- Confessions of a Word Nerd - February 2021 https://www.youtube.com/watch?v=ji1YBYS_kuA&ab_channel=MPBEducation
- How to Improve Your Personal Brand on Zoom - March 2021 https://www.youtube.com/watch?v=XIjElyuzsGk&t=14s&ab_channel=MPBEducation
- Please Wear Pants to Work – April 2021 https://www.youtube.com/watch?v=ctLxbZ0dsc4&t=1664s&ab_channel=MPBEducation
- Customer Service Still Matters – May 2021 https://www.youtube.com/watch?v=ut-NhDPV--I&ab_channel=MPBEducation
- Getting Back to Work in Mississippi – June 2021 https://www.youtube.com/watch?v=H4PXQbos m8k&ab_channel=MPBEducation
- American Graduate Path to the Future – July 2021 https://youtu.be/F_qdZeMrsNk
- Customer Service Employment Academy – August 2021 https://youtu.be/-FQNTx1XtXk
Past Workforce Wednesdays with blog summaries:
- Lunch and Learn with CN Railroad https://gettingtowork.mpbonline.org/blogs/community-events/lunch-and-learn-workforce-wednesday-with-cn-railroad/
- MS Coding Academy featured at Workforce Wednesday https://gettingtowork.mpbonline.org/blogs/community-events/workforce-wednesday-with-ms-coding-academy/
- Secretary of State Delbert Hosemann speaks at MPB's Workforce Wednesday Luncheon https://gettingtowork.mpbonline.org/blogs/community-events/secretary-of-state-delbert-hosemann-speaks-at-mpbs-workforce-wednesday-luncheon/
- Counselor's Workforce https://gettingtowork.mpbonline.org/blogs/community-events/counselors-workforce-luncheon/
- Military OneSource Offers Myriad Services to Service Members and https://gettingtowork.mpbonline.org/blogs/community-events/military-onesource-offers-myriad-services-to-service-members-and-civilians/
- Why Hiring a Veteran is a Plus for Employers https://gettingtowork.mpbonline.org/blogs/community-events/why-hiring-a-veteran-is-a-plus-for-employers/
- Murphy Shares Lessons on Mentoring at Workforce Wednesday Event https://gettingtowork.mpbonline.org/blogs/community-events/murphy-shares-lessons-on-mentoring-at-workforce-wednesday-event/
- Commissioner Cecil Brown shares state’s problems, solutions during Workforce Wednesday Luncheon https://gettingtowork.mpbonline.org/blogs/community-events/commissioner-cecil-brown-shares-states-problems-solutions-during-workforce-wednesday-luncheon/
- Apprenticeship is a workforce development solution benefiting individuals and employers https://gettingtowork.mpbonline.org/blogs/community-events/apprenticeship-is-a-workforce-development-solution-benefiting-individuals-and-employers/
- Waller talks opportunity, career coaches and strengthening Mississippi's workforce https://gettingtowork.mpbonline.org/blogs/community-events/waller-talks-opportunity-career-coaches-and-strengthening-mississippis-workforce/
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We’ve got a variety of financial scenarios to discuss today. Maybe one of them speaks to your financial mindset. Listen along and ask questions about your situation.
Discussions:
- state income tax elimination
- 9/11/2001 impact on US's financial markets
- Parents who haven't saved for college
- Caring for aging parents
- Worrying about cybercrime
- What if I lose all my money
Questions:
- disabilty insurance
- earned income and social security
- advisor
- paying for a nursing home
With identity and data theft on the rise, we’d like to suggest what you can do now and if you are informed of a data breach.
Discussion:
- Ida on the economy
- COVID on the economy
- how to get a credit report
- what will they ask
- why freeze creating new credit
- after you freeze your credit
- if your credit report is wrong
- check your Social Security Information at ssa.gov
You might not be able to keep your data from being stolen but we’ve got tips on what to do if it is. These are tips anyone can use to protect their bank account, the retirement, their credit record. ? https://www.fultonbank.com/Education-Center/Privacy-and-Security/personal-data-breach-tips
- Change your passwords
- Sign up for two-factor authentication
- Check for updates from the company
- Watch your accounts, check your credit reports
- Consider identity theft protection services
- Freeze your credit
- Identitytheft.gov
Cyver Security podcast from Aug. 9the 2019 http://moneytalks.mpbonline.org/episodes/money-talks-cyber-security
Check your credit report: https://www.consumer.ftc.gov/blog/2021/03/free-weekly-credit-reports-during-covid-extended-until-april-2022
Phone numbers for the 3 credit reporting bureaus:
Equifax:1 (888) 766-0008
Experian:1 (888) 397-3742
TransUnion:1 (800) 680-7289
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Your emergency fund is our topic today. How large should YOUR fund be, where should you keep your emergency fund, what IS a financial emergency and what isn’t. In addition, Ryder takes your personal finance questions.
Calls:
- working with a CPA
- credit profiling
- do you need a credit score
Further information:
https://www.bigpictureloans.com/blog/what-is-financial-emergency-what-is-not
https://www.bigpictureloans.com/blog/get-money-fast-financial-emergency
https://due.com/blog/what-is-considered-a-financial-emergency/
https://www.forbes.com/advisor/banking/best-places-to-keep-your-emergency-fund/
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It’s an Open topic show today. We have emails we’ll address on various topics. We have money saving tips and a suggestion to calm your financial fears. And we take your questions.
Discussion:
- decrease of retail spending
- war isn't "good" for economy
- email - canceling credit cards https://www.consumer.ftc.gov/blog/2021/03/free-weekly-credit-reports-during-covid-extended-until-april-2022
- how many credit cards do I have Call 1-877-322-8228
- sell or rent out property?
- can you have a zero credit score
- email - ibonds
- fear of finance after breadwinner dies
- FEMA funeral assistance https://www.fema.gov/disaster/coronavirus/economic/funeral-assistance
- pandemic money lessons https://www.fool.com/the-ascent/personal-finance/articles/5-money-saving-hacks-our-readers-swear-by/
- https://www.nerdwallet.com/article/finance/what-to-buy-august
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What can you do with a houseful of Grandma’s things? Where can you go to find that perfect retro dining set? Maybe you need to learn about auctions. We’re happy to have Dwight Stephens from Stephens Auction House with us today to answer our questions about this method of shopping and selling.
Suggested website:
- https://www.auctionzip.com/
- https://www.liveauctioneers.com/
- https://www.mississippiauctioneers.org/
- https://www.keyauctioneers.com/auction-tips/
We’ve got some personal finance statistics to share with you today. We hope by learning these facts you can change your life or help someone you care about change theirs. Our data comes from Morningstar. Their website says:
Morningstar has been empowering investors since 1984 through research. https://www.morningstar.com/company
Discussion:
- COVID rates in Mississippi
- Inflation talk
- ways to gather finanical information
- The Earnings Gap - why?
- Retirement funds
- Importance of savings
IRAs and Roth IRAs - what are the rules if you need to withdraw money? How do you set one up? What’s the difference between the 2 anyway? What about an inherited IRA or RMDs?
- What about the new rules concerning RMDs – required minimum distributions?
- Why do we have RMDs?
- Who takes them?
- When do you have to take them?
- Is there a special time of the year to take them?
- What can you do or what can you NOT do with the funds?
Calls:
- RMD to a charity
- inherited IRA
- what to do with an old employers 401K
- SIMPLE IRAs: Savings Incentive Match PLan for Employees
- difference between IRA and 401K RMD
- limit to contributions
- how kids learn money skills http://moneytalks.mpbonline.org/episodes/money-talks-kids-learning https://mscee.org/
- money and taxes
It’s less than 6 months before the gift giving holidays at the end of the year. Time to remind ourselves to not go into holiday debt. We’ve got some tips to discuss between your personal finance questions.
Discussion:
- child tax credit - different amounts depending on age of child and income. IT'S AN ADVANCE CHILD TAX CREDIT ON TAX RETURN. If you want to "opt out" go to https://www.irs.gov/credits-deductions/advance-child-tax-credit-payments-in-2021
10 tips for avoiding holiday debt:
1) Start with a firm budget for the holidays. Include gifts, decorations, travel, Christmas cards and even stamps. What did you spend last year? What are you comfortable spending this year?
2) Make a gift list and stick to it. Keep track of your spending.
3) Pay in cash. Studies have shown that consumers spend less when paying cash.
4) Pay off current credit card debt before adding additional charges.
5) If you’re crafty, start now making gifts.
6) Start tucking away a portion of each paycheck into a holiday fund now.
7) Sell some items for extra cash.
8) Use your card’s rewards points or cash rewards for holiday shopping.
9) Set expectations for the gift exchange.
10) Book holiday travel early.
https://www.forbes.com/sites/billhardekopf/2020/11/17/10-tips-to-avoid-credit-card-debt-during-the-holidays/
https://www.hallmarkchannel.com/home-and-family/how-to/how-to-avoid-holiday-debt
https://www.biblemoneymatters.com/begin-preparing-now-for-christmas-expenses-to-avoid-holiday-debt/
https://www.consumerfinance.gov/about-us/blog/five-step-spending-plan-avoid-holiday-debt/
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We’ve got one of our long-time guests on the show today – Shawn Mercer, from the Social Security Administration. He’ll take your social security questions. Our expert hosts take your personal finance questions.
https://www.ssa.gov/
The social security administration has gotten nimble with looking up baby names. You can read the top national names. You can look up the top 100 names per state. You can also look up the most popular names by year. https://www.ssa.gov/oact/babynames/
There are 23 Social Security Offices in Mississippi.
The phone number for Social Security in Jackson is 1-866-331-8135
For Olive Branch the phone number is 1-866-739-4771
If you need to reach the Gulfport office, you can call 1-877-897-0609
https://www.ssofficelocation.com/mississippi-social-security-offices-sos24
If you like little tips and tricks about social security, when you go to the ssa dot gov website – if you scroll to the bottom and click on “Connect with us – Blog” you’ll find informational articles from time to time. https://blog.ssa.gov/
Calls:
- getting married
- unemployment benefits
- 62 year old
- how much can you earn?
- SSDI increase
- RMD
- disability time limit
- remarried and benefits
- ex-spouse benefits
- RMD
- kids and disability
- social security "year"
- can payment date be moved?
- divorced
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What are you afraid of? Do you have financial worries? We’d like to address some common financial fears. We want to help you label the fear and give you ways to face the fear. Our experts are on hand to answer personal financial concerns and questions.
Producer Liz Gill came across an article on the website: https://womenwhomoney.com/common-financial-fears-overcome-money-worries/
and wanted to get OUR experts opinions on the money fears the article brought up.
Discussion:
- Financial Fear #1 – Never getting out of debt
- Financial Fear #2 – Losing my job
- Financial Fear #3 – Something terrible happening to me (or my partner)
Calls:
- Inherited IRA
- Too much money
- 1031 exchange of property
- Another inherited IRA
- Where to get tax info
If you’d like more information about saving for your child’s education find the Money Talks podcasts from: September 15th, 2020 http://moneytalks.mpbonline.org/episodes/money-talks-treasurer-david-mcrae
and August 27th, 2019 http://moneytalks.mpbonline.org/episodes/money-talks-529-savings-plans
when we discussed 529 plans.
In Legal Terms discussed Section 1031 property exchanges on June 15th, 2021 http://inlegalterms.mpbonline.org/
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Everyone wishes they handled money better. The Mississippi Council of Economic Education hopes to increase economic and financial literacy in Mississippi. We learn from our guest, Selena Swartzfager, President of MCEE how they do this, and we take your personal finance questions.
Family Financial Fun Day
Saturday June 12th – Lynn Meadow’s Discovery Center, Gulfport
9-11am Register online by Friday June 11th, 2021
Register here: https://form.jotform.com/MSEconEd/FFFDAY
Families should plan to remain for the entirety of the 2-hour event. Parents/Guardians MUST accompany their children.
Website for MCEE: https://mscee.org/
Social media:
https://www.facebook.com/mseconeducation
https://twitter.com/mseconeducation
https://www.instagram.com/mseconeducation/
https://www.youtube.com/channel/UCyAzG-xXanobxdWvUkBxgPw
- Economic Challenge
- Personal Finance Challenge
- Degree Programs
- CEUs for teachers
- Why learn?
- Partners
Calls:
- one parents experence
- unemployment taxes
- investment advice
- 1st time home buyers http://moneytalks.mpbonline.org/episodes/money-talks-first-mortgage
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Whether you’re 25, 55, or 75, maybe you’re dreaming of retirement. Today, we’ve got some tips geared for the 25 year-olds but everyone else will find some great information. Are you on fire for retirement? We're talking F. I. R. E.? We learn what that is and take your personal finance questions.
Financial Independence, Retire Early from the 1992 book "Your Money or Your Life"
- save up to 70% of annual income, invest it with the help of a professional
- goal of retiring in 40s to either do nothing or travel or be selective in their job
- once savings reaches 30 times annual expenses you could retire
Calls:
- saving advice
- saving advice
- email - bond interest
- savings bonds
Other resources:
https://www.mrmoneymustache.com/2012/01/13/the-shockingly-simple-math-behind-early-retirement/)
https://www.ramseysolutions.com/retirement/what-is-the-fire-movement#:~:text=Movement%3F-,F.I.R.E.,Be%20confident%20about%20your%20retirement.
https://www.investopedia.com/terms/f/financial-independence-retire-early-fire.asp
https://www.investopedia.com/articles/retirement/08/retiring-early-retirement.asp
https://www.mrmoneymustache.com/2012/01/13/the-shockingly-simple-math-behind-early-retirement/
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Are you interested in a better job? Looking for a first job or are unemployed? The Mississippi Department of Employment Security is a resource for you. Experts from MDES will answer your job fair, win job center, and unemployment questions. Our guests are from the Mississippi Department of Employment Security. Daphne James with the WIN Jobs Center, Adam Todd with the Governor’s Job Fair, and Jeff Rhodes a Benefits specialist.
Podcasts about MS 529 College Savings Plans:
http://moneytalks.mpbonline.org/episodes/money-talks-treasurer-david-mcrae
http://moneytalks.mpbonline.org/episodes/money-talks-529-savings-plans
http://moneytalks.mpbonline.org/episodes/money-talks-back-to-school-finances
Website for Mississippi Department of Employment Security: https://mdes.ms.gov/
Job Fair Calendar: https://www.jobfairs.ms.gov/event-calendar
Look for the MDES MS Works app in the Apple app store. For android: https://play.google.com/store/apps/details?id=edu.msstate.nsparc.mdes&hl=en_US≷=US
- Local Win Job Centers are now open - 05/18/2021
- Governor's Job Fair Network are drive through now - 05/18/2021
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Thursday, May 13, 2021Tales from the Crypt Is Bitcoin and its sister digital currencies really money?
Money represents work and earnings on that work or skill. It has 3 functions. It’s a medium of exchange. You can buy stuff with it-- trade it for food, housing, clothing, etc. Certainly, we are hearing more and more about cryptocurrency being accepted as a form of payment.
Money is also a store of value. The money I make today doesn’t have to be spent today. I can put it in the bank or under my mattress and store those earnings for another day. Okay, so crypto qualifies here.
Money is also a unit of account. That means the number of dollars, euros, renminbi, required to purchase something has meaning. When I travel overseas and find myself looking at price tags in another country, I’m clueless. They have no meaning to me, but prices in dollars and cents help me to peg a value on a good or service. Wow! That’s a good deal. Or, wow! That’s expensive. This is where crypto falters. Valuations fluctuate so widely that it is hard to translate the numbers to real value. Cryptocurrency lacks stability, and, so, fails the test on this function.
But crypto is pushing the bounds of our definition of money. We have used many types of currency through the ages. Maybe this is just a new one taking hold. At one time, we used whale teeth for money. Of course, the precious metals have had their run—gold, silver, copper. We’ve even used salt for money! Heaven help you if you had a hole in your pocket. Money has gone through many iterations as we humans have looked for ways to move beyond bartering as we trade goods. For a look at a really strange currency, check out The Island of Yap.
Money has 2 forms: commodity money and fiat money. Commodity money has value in and of itself. Think of gold and silver and even that salt. But fiat money has no real intrinsic value. Its value comes from the entity backing the currency.
Anyone with old Confederate dollars in your attic? They only had value when the Confederacy was alive. Now, they are worthless (thank goodness). Ever pull out some coins from your trip to Canada at the convenience store? Sorry, worthless here. When it comes to fiat money, location is everything. Euros in Europe. Pound sterling in London. Renminbi in China. Each government issues its own currency, and the strength and stability of that currency is correlated to the strength and stability of that government.
But crypto is different. It isn’t issued by a government. As such, it’s not confined to a location and particular borders. And that’s what makes it so appealing. No converting from Euros to dollars and back again, with all the requisite fees in between. Supposedly, it would be universally accepted. No banker is keeping track of your account. The system is self-contained to assure coins are transmitted appropriately.
And crypto seems the natural transition as fewer and fewer actual coins and dollars are used. Rarely do I have actual dollars in my purse. My money is recorded in an account somewhere, and I pull out a debit card or use PayPal or Venmo to make purchases. The currency in my name is just a number on a computer screen somewhere, and isn’t that what crypto is? It’s just a digital currency.
In 2009, someone or some people with the name of Satoshi Nakamoto invented the first truly digital currency called bitcoin. The ability to move vast sums across borders very quickly made it quite appealing to the criminal element. The dark side of this currency caused it to languish until recently. More and more, reputable businesses are trading in and accumulating digital currency.
New digital currencies have sprouted up with names like Dogecoin, Ethereum, and even Polkadot. None are related to a particular government, but each serves different functions. Recently, we heard a presentation by an investment group solely focused on cryptocurrency. They have created exchange traded funds that own crypto and are encouraging advisors to include this in a diversified portfolio. We’re not convinced yet.
Implicit in our current system is the position of an intermediary. These are the folks who are in between each transaction as money changes hands throughout the day. They are the bankers. A digital currency that is self-contained does not need an intermediary. That sounds appealing since it would reduce cost and increase speed. Imagine going to your house closing and pushing the button at the table to transmit your down payment. Voila! Deal done.
But we still worry about the security of such a system. And we worry that the crypto we own today will lose value overnight. So, maybe it’s just not money… yet.
Certainly, crypto investors have been reaping big benefits in the last couple of years. Our presenters from Bitwise Asset Management told us to NOT think of it as a medium of exchange. They describe it as a new technology that can speed up the pace of business while keeping costs low. They also said to think of different types of crypto like different types of software.
It’s all so bizarre! Programmable money? Coins created from mining. Mining is just the solving of a puzzle. Coins stacked in blocks to create a blockchain. Money or not? Sort of. Maybe. But it’s crazy popular right now.
So how do you get your hands on (computers on) some crypto? Well, you can’t go through your regular brokerage account. You’ll have to go through a crypto-exchange like Coinbase or Gemini. Robinhood can give you access. You can also sign up with an investor group. There are several private crypto funds. BITW is the publicly traded exchange traded fund that we heard about.
But be careful. This is new. It’s exciting. It’s cutting edge. But it’s risky. As for us, we’re taking a “wait and see” approach. Digital currency may be the wave of the future, but, right now, it just feels like a tsunami.
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We love to have guests and special topics on Money Talks but sometimes we like to just see what you’d like to ask. We call these Open Topic shows. We’ll have some current events to discuss. You’re welcome to call in with your opinions and questions about what’s going on in the news now.
Discussion:
- gasoline supply
- 8th of May Emancipation https://themsms.org/8th-of-may-emancipation-celebration/
- April Jobs Report
- Shortages! such as truck drivers, boba, manufactured items, chlorine, wood, silicon chips, childcare
- Emergency Broadband Benefit Eligible households can enroll through an approved provider or by visiting GetEmergencyBroadband.org. Find broadband service providers more information here.
Calls:
- What to read
- unemployment benefits
- inherited IRA
- Jobs comment
- stimulus check
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Money Talks will de-mystify asking for a raise with this broadcast. Our guest today is Scott Stinson – Director of Human Resources here at Mississippi Public Broadcasting who will give us inside information on the best time and the best way to ask for a bigger salary.
Discussion:
- Why don't we talk about salaries more?
- What are the laws?
- Prepare to ask for a raise
- Know what your job could pay
- Is your agency healthy enough to give raises
- Document your abilities
- What should you actually say?
- Yes, Maybe, No
- What else could you ask for?
- What about government employees?
- Promotions?
- Unions?
Guest, Ray Higgins - Director of PERS This podcast has information about PERS for retirees, those close to retirement, and those employees still working with retirement in the future.
You could read the Public Employee Retirement System of Mississippi handbook, or listen to MPB’s Money Talks broadcast and podcast with the director of PERS, Ray Higgins. You’ll get a good understanding of how PERS benefits state workers and retirees.
Contact PERS at their statewide number: 1-800-444-7377 or email them at their email address: customerservice@pers.ms.gov
Website: pers.ms.gov
Department of Finance and Administration for Mississippi: Health Insurance for Retirees http://knowyourbenefits.dfa.ms.gov/
What’s an annuity? Are they all the same? Who needs one? We’ll learn about these financial products from our financial analysists - Nancy and Ryder - who can also take your personal finance questions.
Discussion about annuities
Calls:
- paying off a student loan
- are annuities good or bad?
- what is an index fixed annuity
- how to get started in investing
- paying extra on a mortgage
- what's up with GameStop
IRAs podcast: http://moneytalks.mpbonline.org/episodes/5cd31f1533f6c1be55607d57
S and P 500 podcast: http://moneytalks.mpbonline.org/episodes/money-talks-s-and-p-500
Baby Steps of Investing: http://moneytalks.mpbonline.org/episodes/money-talks-investing-baby-steps
If you are a renter or a landlord, you'll particularly want to listen today’s Money Talks. Our guest is the Executive Director for Mississippi Home Corporation. Scott Spivey talks about the agency and the grants available to Mississippians who can’t pay rent during this pandemic. He discusses programs for first time home buyers and rehabilitation assistance. Our expert hosts are also available to answer personal finance questions. https://www.mshomecorp.com/ https://www.newper.com/
RAMP – the rental assistance program. It’s for those impacted by COVID-19 - renters and landlords
www.ms-ramp.com If you need assistance or wish to speak to a representative, call 601-533-8401 (local) or 1-888-725-0063 (toll-free) **Harrison County received its own funds for rental assistance. If you are a resident of Harrison county and wish to apply, you must call the Open Doors Homeless Coalition at 228-604-8011.
Trailers too!
The Emergency Solutions Grant COVID-19 (ESG-COVID) program created by the CARES Act funds is designed to prevent and respond to the coronavirus pandemic (COVID-19). Individuals and families who have been laid off or have current income under 50% of area median income (AMI) and individuals who are homeless or receiving homeless assistance are eligible to receive funds. https://ms-ramp.com/esg/
Twitter: https://twitter.com/MSHomeCorp https://twitter.com/NewPerMS https://twitter.com/MPBOnline
First time homebuyers assistance
Youth Drawing Competition
Partnerships with developers
In the news:
- COVIF-19 funeral assistance from FEMA https://www.fema.gov/disasters/coronavirus/economic/funeral-assistance
- COBRA subsidy during pandemic https://www.natlawreview.com/article/new-covid-relief-act-provides-cobra-premium-subsidies-and-increased-exclusion
Calls:
- annuity
- mortgage assistance
- PPP loans through your bank
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We’ve made it to April in 2021. We’ve got some IRS tax tips to share, some April buy and not to buy suggestions. But this is just chit chat between your calls and emails. It’s an Open Topic show.
In the News:
- IMF forcast for global growth
- Yeld curve
Observances in April:
- Fair Housing Month
- Financial Literacy Month
- National Financial Capability Month
- National Internship Awareness Month
- Money Smart Week - April 10-17, 2021
- Global Work From Home Day - April 10
- International Financial Independence Awareness Day - April 25
Ways to gain financial literacy:
- Bogle On Mutual Funds: New Perspectives For The Intelligent Investor (Wiley Investment Classics) John C. Vogel book
- https://www.investopedia.com/
- https://twitter.com/LizAnnSonders
- http://moneytalks.mpbonline.org/
- their book P.I.G.G.Y. Plan-It: Prudent Investors Get Going Young
- MSU extension service - guest on podcast for Dec 22, 2021
- Get Good with Money: Ten Simple Steps to Becoming Financially Whole by Tiffany the Budgetnista Aliche
- New Perspectives website and twitter@NewPerMS
IRS Tweet Tips - see cute puppies and funny graphics in their twitter feed: https://twitter.com/IRSnews
Income taxes due: May 17, 2021 for federal and state returns
What to buy and not buy in April?
Do Buy
- Car Parts and Accessories: April is National Car Care Month, so auto parts stores and service centers will be running promotions. Even if you don't need any major work done, it's usually a good time to take a vehicle in for a tune-up; check brakes, wipers, and tires; and shop for car accessories.
- Jewelry: Bling just might be the thing to buy in April. With the Valentine's Day bump a distant memory, jewelers are ready to compete for tax-refund money by offering low prices to get customers in the door.
- Mother's Day Gifts: Speaking of jewelry, early April is also the moment to get a head start on Mother's Day shopping. You can lock in a good price on flowers by ordering a month in advance. Take advantage of deals on chocolate and other treats after Easter. Mass-market chocolate will quickly go on sale but you might also find discounts from higher-end brands like Godiva, too.
- Home Improvement Supplies: With spring in the air, many do-it-yourselfers are ready to tackle some projects they let slide over the winter. While demand is high, so is competition, making it possible for enterprising homeowners to snag some great deals this time of year. Deals have covered everything from lawn mowers to mulch to patio furniture.
- Spring Apparel: Retailers are ready to clear out spring apparel to make room for summer duds. That means shoulder-season clothing — think jackets, lightweight sweaters, and long-sleeve T-shirts — will be going on sale.
- Cookware: Retailers typically feature April promotions on pots, pans, and cooking tools in time for bridal showers, weddings, and college graduations and Mother's Day.
- Secondhand Goods: Spring cleaning yields loads of donations to thrift stores, so take a break from your own chores to check out a fresh array of secondhand clothing, home decor, and other deals from stores. Smart thrift-store shopping tips include buying off-season for the best selection. Vintage clothing is always in style, and cheap home decor and pieces can often be repurposed.
- National Park Trips: National Park Week runs from April 17-25, and there are plenty of ways to celebrate, including free admission to any national park on April 17th! Visit the National Park Service website to search for special park events happening near you.
Don’t Buy
- Skip: Grills - Although outdoor temperatures are climbing and many people are itching to barbecue, waiting until July or August to buy a cheap grill pays off.
- Skip: Mattresses - Mattresses seem to be perpetually on sale, but with no "shopping holidays" in April, they're less likely to be discounted. If you can hold off, you'll find much better mattress deals once Memorial Day rolls around at the end of May.
- Skip: Kitchen appliances : Appliance deals abound during Memorial Day sales in May, so if you can, let April come and go before you buy a refrigerator, a dishwasher or even a smaller kitchen appliance like a blender. Memorial Day is May 31 this year, but we predict sales will start a few days before the holiday and extend a few days after. Memorial Day appliance sales traditionally take place at home improvement stores such as Lowe’s and Home Depot.
Calls:
- corporate value and minimum wage
- social security and working after 65
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Money Talks wants to help you today to Prepare Before the Storm. That “storm” might be weather, economic, or family issues. We’ve got some websites and some suggestions.
New Perspectives blog posts: https://newper.blogspot.com/
Financial Resilience And Mutual Aid Saturday, February 20, 2021
On Preparedness Friday, February 19, 2021
In the News:
- PPP loans expanded
- Job losses going down
- Suez Canal ship stuck
- Non-fungible tokens
Emergencies savings for loss of income, vehicle replacement, medical care
Resilient Budgets
Where to keep funds
Emergency Financial First Aid Kit https://www.ready.gov/sites/default/files/2020-03/ready_emergency-financial-first-aid-toolkit.pdf
Be Prepared For A Financial Emergency
https://www.ready.gov/sites/default/files/2021-01/ready_financial-emergency_info-sheet.pdf
Calls:
- start saving early - be a part of your community
- Community Emergency Response Team https://www.ready.gov/cert
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It’s time to review all the topics we’ve covered on Money Talks in the past 12 months. If you’ve missed any episodes, we’ll give you the flavor of some of the episodes so you can find the ones that interest you on our podcast.
Last Spring, we talked a lot about current events each week. We had guests from the Mississippi Department of Employment Security, we talked about fraud and the Cares Act and the Economic Impact Payments.
We had a guest from Edmunds dot com talk about new car buying. A guest from the National Foundation for Credit Counseling. The executive director of Mississippi Food Network.
Nancy remarked on the information that MDES gave us so often and so willingly for the first of three shows on 04/07/20.
Kevin like the car buying show on 04/28/20 and fraud show on 04/14/20 that we were able to share with our listners.
Producer, Liz, like the MS Food Network information from 06/02/20.
In the Summer and Fall we had less Open Topics shows and more personal finance broadcasts. We recapped those organization providing pandemic financial assistance.
We discussed different types of investment professionals, day trading, money saving tips, credit cards, the S and P 500, and mindful spending.
We had guests discuss Social Security, home buying, flexible jobs, the Census, MDES, bankruptcy. Our Mississippi Treasurer talked about his agency.
Nancy talked about the finanical videos she and her husband made during 2020. Also the Real Estate Investment broadcast on 11/17/20
Kevin remarked on the helpfulness of Shawn Mercer from Social Security on 07/07/20 and our Mississippi Treasurer on 09/15/20.
Liz, enjoyed the money mindfulness broadcast on 10/27/20.
From the holidays to now, Money Talks covered: CDs, cutting expenses, the baby steps of investing, stock fragments, GameStop, free goods and services, and minimum wage. Our guests helped us talk about real estate investment, community foundations, more Social Security, financial education available from the Extension Service, more MDES, and student loans.
Nancy talked about the listener driven inspiration for our minimum wage broadcast on 03/16/21.
Kevin liked the investing baby steps from 01/19/21 and cutting expenses show on 11/24/20 for "starter" shows for listeners.
Liz like learning about the education opportunities from the Extension Service on 12/22/20.
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There’s been talk but no action on raising the federal minimum wage. On a recent Money Talks we had some passionate callers express their opinions on the minimum wage. We’d like to discuss the topic for the full hour today – between your personal finance questions. Our guest today is State Economist Corey Miller. http://www.mississippi.edu/urc/
Calls:
- Automation instead of workers
- Impact on retired workers
- Living wage
- Different amounts for different areas
- Government assistance
- Wage substitute
- Livable
Do you still have student loans? Do your grandchildren have student loans? Our guest today is Bruce McClary from the Nation Foundation for Credit Counseling. We’ll learn how the pandemic is affecting student loans and what to expect for those about to enter higher education.
Call the Nation Foundation for Credit Counseling about student loans at 1-877-406-6322 or the general number 800.388.2227 https://www.nfcc.org/who-we-help/student-loan-borrowers/
Discussion:
- You can stop paying on your student loan until Sept. of 2021. Or direct your payments to principal only for federal loans. No benefits for private loans.
- Check your annual credit report to see that your loan amount is being accounted for correctly. FREE CREDIT REPORTS AVAIALBLE WEEKLY UNTIL 04/2022
- Student loan benefits may be in unpassed legislation.
- Income driven repayment options
- Public service loan forgiveness options
- More information at https://studentaid.gov/ where you can find a student loan simulator to determine the best repayment program for you.
Calls:
- forgivenss on interest? (no, just principal)
- want a job with a security clearance - manage your money well
- interest on interest
See acast.com/privacy for privacy and opt-out information.
If you’re a regular listener to MPB Think Radio, you are a regular listener to news stories. Today, our experts are going to translate those news stories to how that information affects you – in Mississippi.
Income tax, stimulus payments, minimum wage
- retail sales collections
- special perpose acquisitions
- new Treasury Secretary
- cryptocurrencies
- Income tax phase out
- the next COVID relief - enhansed unemployment benefits extended and increased, $1400 stimulus checks
- $15 mimimum wage
Guests: MDES Executive Director, Jackie Turner, Deputy Executive Director-General Counsel, John Garrett, and Director, Office of ReEmployment Assistance, Erma Cook
Hosts: Dr. Nancy Lottridge-Anderson, President of New Perspectives and Ryder Taff, portfolio manager at New Perspectives. Nancy and Ryder are both Chartered Financial Analysts and Ryder also holds the Certificate in Investment Performance Measurement from the CFA Institute.
https://mdes.ms.gov/ 601-493-9427
There is no fee for Unemployment Services through MDES. They do not solicit payments on social media and employees are prohibited from using social media to assist customers. If you are asked to pay a fee for these services, DO NOT PAY the fee and report this to MDES.
If someone filed an unemployment claim using your information report this immediately to MDES. Beware of scams aiming to steal your personal information. Claimants should only use the agency’s official website: mdes.ms.gov to give out personal information.
Some customers were issued additional benefit payments in excess of the amount to which they were entitled. Those affected have been issued a notice of overpayment. You are entitled only to benefits for which you are eligible. You must repay all benefits that are overpaid even if you were paid in error. Overpayments are legally enforceable debts.
- Federal Pandemic Unemployment Compensation (FPUC) program
- Pandemic Unemployment Assistance - PUA
- Pandemic Emergency Unemployment Compensation (PEUC)
- Mixed Earner Unemployment Compensation
- WIN Job Centers
- credit card offers
- taxes on unemployment
- re-use prospective unemployers
- opening financial accounts for minors
- tax forms
- Ticket to Work
- unemployment appeal
- how long does unemploment last
- Innovate MS for job resources
- can not contribute to an IRA with only unemployment income
- keep records
See acast.com/privacy for privacy and opt-out information.
Everyone likes free. Some folks need free versions of services or items. We’re working off a list from MSN 27 Things You Should Never Pay For — and How to Get Them for Free
- Birthday meals: 20 Restaurant Chains That Offer Free Food for Your Birthday
- Through April of 2021, you can get free credit reports from Equifax, Experian and TransUnion as often as once a week. https://www.annualcreditreport.com/index.action
- Credit cards: The words to look for: No annual fee. https://www.creditcards.com/ https://wallethub.com/credit-cards/no-annual-fee/ https://www.creditkarma.com/credit-cards/no-annual-fee
- Stream entertainment for free. 15 Free Streaming Services to Watch
- Don’t forget MPB television is available all over the state for free. If you need help adjusting your antenna for better reception the technical service folks here at MPB can help you with that over the phone if you call the front desk during business hours (601) 432- 6565
- To see the free over-the-air channels available where you live, enter your address at the Federal Communications Commission’s “DTV reception maps.” https://www.fcc.gov/media/engineering/dtvmaps
- You can get free products at dollar stores. Deal blogs like Moola Saving Mom, The Krazy Coupon Lady and CouponMom.com do it for you scour all the coupons available out there and determine which coupons are for items sold at chains like Dollar Tree. The result, known as “coupon matchups,” is basically a list of current coupons that you can redeem at particular dollar stores. While the lineup varies from week to week, you can expect to find free stuff regularly. We’ll have links to these blogs on our website. If you come across free items that you can’t use, consider donating them to a local charity.
- the National Park Service offers free admission on a handful of days scattered throughout the year. 2021 the free days are: April 17: First day of National Park Week, August 4: One year anniversary of the Great American Outdoors Act, August 25: National Park Service Birthday, September 25: National Public Lands Day, November 11: Veterans Day https://www.nps.gov/planyourvisit/fee-free-parks.htm
- Free passes that are avaliable: The Volunteer Pass, A new pass program grants U.S. military veterans and Gold Star Families, The Annual 4th Grade Pass, A new voucher is now available for 5th grade students for the rest of the school year! https://www.everykidoutdoors.gov/index.htm
- Trace your genealogy for free.10 Ways to Research Your Family Tree for Free Many libraries have subscriptions to ancestry.com where you can look up census records and hook up with others researching their families. The Mississippi Department of Archives and History has a website dealing with genealogy. Their staff can tell you what’s available to look at in person at their headquarters in Jackson. https://www.mdah.ms.gov/genealogy
- After your next checkup, ask your dentist if they have any wrapped toothbrushes, paste and floss to give you that they receive for free from manufacturers. If you don’t use them they’re great to keep for visiting friends or donate to local organizations.
- Money management tips: What ATMs can you use for free? Does your bank reimburse ATM charges. Learn how you can avoid trading fees if that is of interest to you. Charles Schwab, E*TRADE, TD Ameritrade, Fidelity and Vanguard have announced $0 commission trades on stocks and exchange-traded funds (ETFs).
- LinkedIn Learning offers its catalog of online courses free to patrons of participating libraries. There are 13,000 courses available. So, ask your library if it partners with LinkedIn Learning or similar services.
What is the Black Swan?
Black swan events can cause catastrophic damage to an economy by negatively impacting markets and investments, but even the use of robust modeling cannot prevent a black swan event. The term was popularized by Nassim Nicholas Taleb, a finance professor, writer, and former Wall Street trader in his 2007 book titled The Black Swan.
Webinar: Tuesday, February 9, 2021 | 6:00pm CDT
RSVP to attend this event
See acast.com/privacy for privacy and opt-out information.
Our experts discuss the saga of GameStop stock. With information about:
- The IMF
- CBO
- silver market
- bubbles: displacement, boom, uphoria, profit taking, panic
- short sells
- hedge funds
- retail investors
- collusion
- Robinhood and the funds they have on hand
Calls about:
- mutual funds and how "big" is GameStop
- owning part of a company
- earning per share
- where to buy savings bonds: banks
- comment
Will there be Congressional investigations?
See acast.com/privacy for privacy and opt-out information.
Our financial advisors Dr. Nancy Lottridge-Anderson and Ryder Taff teach us about stocks and fragments of stocks.
And a discussion of Game Stop! https://www.cnbc.com/2021/01/26/gamestop-shares-are-jumping-again-but-short-sellers-arent-backing-down.html
- What is a stock?
- Where do you buy them?
- Buying slices of a stock
- Changes in investing
- What can you buy a slice of?
- Recordkeeping
- IPO
- Chicago Board of Trade
After you’ve paid Rent, utility bills, debt payments, and groceries and set aside at least a little cash in an emergency fund, it's time to start investing.
- Magic of compounding interest
- Don't pass up free matching 401K money
- Decide how much to contribute
- Ways to save for retirment
- Broker
Questions:
- lottery
- stock cerfificate
- earned income for Roth IRA
- rolling over a Roth IRA
- stock options
- robo advisors such as ACORN
- cash in checking account
Suggested articles: https://www.nerdwallet.com/article/investing/how-to-start-investing
https://www.investopedia.com/articles/basics/06/invest1000.asp
https://www.fool.com/investing/how-to-invest/
Investment podcast http://moneytalks.mpbonline.org/episodes/money-talks-retirement-investing
Brokers podcast http://moneytalks.mpbonline.org/episodes/money-talks-brokers
Determining your invetment risk tolerance http://moneytalks.mpbonline.org/episodes/5cd31f1633f6c1be55607da7
See acast.com/privacy for privacy and opt-out information.
Our experts talk about what's in the news and answer your personal finance questions.
Dr. Nancy Lottridge-Anderson, President of New Perspectives and Ryder Taff, portfolio manager at New Perspectives. Nancy and Ryder are both Chartered Financial Analysts and Ryder also holds the Certificate in Investment Performance Measurement from the CFA Institute.
- Stimulus checks have been deposited, are being sent as paper checks, and sent as debit cards. The IRS Get My Payment tool is the most appropriate and timely avenue for status updates on your EIP. https://www.irs.gov/coronavirus/get-my-payment Visit the IRS.gov website with questions
- Saturday, Jan 16th is National Use Your Gift Cards Day
- Additional unemployment assistance is avaialble. https://mdes.ms.gov/unemployment-claims/covid19/pandemic-unemployment-assistance-pua/
- MDES: Call 7am to 7pm Monday to Friday: 601-326-1119, or 601-493-9427. You can leave a call back number. They are very busy so penitence is requested – so says MDES on THEIR twitter page.
- https://accessms.mdes.ms.gov/accessms/faces/login/login.xhtml
- December jobs numbers are out: all the jobs lost in the United States were held by women. https://www.thecut.com/2021/01/all-jobs-lost-in-december-2020-were-held-by-women-report.html
- The next Powerball drawing is WED, JANUARY 13 AT 9:59 P.M. CT for at least 550 million dollars.
- The next drawing for Mega Million is : TUE, JANUARY 12 AT 10 P.M. CT for at least 615 million dollars.
- Bitcoin discussion
Calls:
- stimulus cards
- mutual fund
- 2020 born baby
- "fed tax exempt" on retirement
- stimulus
See acast.com/privacy for privacy and opt-out information.
Our guest today is Dr. Rebecca Campbell Smith, associate professor with the MSU Extension Service.
Dr. Smith works with the Extension Center for Economic Education and Financial Literacy.
http://extension.msstate.edu/
Family finanical management website
The Healthy, Wealthy and Wise Program is designed to motivate adults to improve financial health and increase wealth by reducing debt, increasing savings and gaining confidence in the ability to make wise financial decisions.
When Your Income Drops If your family suffers loss of income, try to remain calm and don’t waste time and energy blaming yourself. Instead, take control of the situation by doing the best you can with the resources available to your family.
Managing Personal Finances During COVID-19: This toolkit provides information and resources to help individuals and families stabilize and improve their financial well-being as they weather loss of income and declining asset values. It is also intended to help consumers protect themselves now and position themselves for a stronger financial future.
Other pamphlets and videos include:
- Basic Money Management
- Credit
- Disaster Relief
- Estate and Finanical Planning
- Fraud and Identity Theft
- Housing and Homebuyer
- Volunteer Money Mentors
- Youth Finanical Literacy
Calls:
- stimulus taxable?
- kids and stimulus
- unemployment
- dependent and stimulus
- landlord help
- social security and stimulus
How To Get Your Second Stimulus Payment Direct Deposited To Your Bank Account - a Forbes article
Congress has agreed to a roughly $900 billion economic relief package that includes a second round of stimulus payments.
The second stimulus payment will be:
A onetime stimulus payment of $600 for each individual
A onetime stimulus payment of $1,200 for married or joint filers
A onetime stimulus payment of $600 for dependents age 16 and under
In order to qualify for the second stimulus payment, you will need to have earned (in 2019) less than $75,000 (for individuals) or $150,000 (for married/joint filers). If your income is higher than those limits, then the stimulus payment is reduced by 5% of your adjusted gross income above those limits. This was the formula and income threshold under the first stimulus payment bill.
See acast.com/privacy for privacy and opt-out information.
Our experts are Dr. Nancy Lottridge-Anderson, President of New Perspectives and Ryder Taff, portfolio manager at New Perspectives. Nancy and Ryder are both Chartered Financial Analysts and Ryder also holds the Certificate in Investment Performance Measurement from the CFA Institute. https://www.newper.com/
Blog: Leaving Money on the Table https://newper.blogspot.com/2020/12/leaving-money-on-table.html
talking about when to take social security.
Social Security https://www.ssa.gov/
My Social Security https://www.ssa.gov/myaccount/
Money Talks Social Security Podcast: http://moneytalks.mpbonline.org/episodes/money-talks-social-security-december
Money Talks on You Tube on the MPB Think Radio Channel
Frugal Fit Mom’s video called 132 meals for $42
The Minimal Mom channel has a video called 57 Things We Don’t Buy Anymore
Blog: What Were We Thinking ?!? https://newper.blogspot.com/2020/10/reading-along-with-ryder-part-5-what.html
During these times of COVID-19, accessing your credit is important. That's why Equifax, Experian, and TransUnion are now offering free weekly online reports through April 2021. https://www.annualcreditreport.com/
FICO videos https://www.fico.com/en/sabf/resources
Blog: Credit Score Questions https://newper.blogspot.com/2020/12/credit-score-questions.html
Webinare video: https://vimeo.com/489583454 Password: ^0u?Rmg% Thank you Mississippi Council for Economic Education https://mscee.org/
If you get your credit score from Credit Karma, you’re probably getting a Vantage Score not a FICO Score. Different credit lending institutions look at different scores issued by scoring bureaus. Besides those two agencies, there are about a dozen more credit scoring agencies.
Blog: How to Give https://newper.blogspot.com/2020/09/how-to-give.html
Money Talks Community Foundation podcast: http://moneytalks.mpbonline.org/episodes/money-talks-community-foundations
Calls:
- 401K pandemic taxes
- ssa - which years do they use?
- email - top earnings
- ssa - older workers
- transfering money and spam emails http://moneytalks.mpbonline.org/episodes/money-talks-transferring-cash-encore
- ssa - expired check
- email - PERS http://moneytalks.mpbonline.org/episodes/money-talks-pers
See acast.com/privacy for privacy and opt-out information.
We’ve all been invited to a webinar. FICO – the credit score company – and the Mississippi Council on Economic Education has teamed up to teach us about our credit score and allow each of us to sign up for free one on one counseling from a local non-profit credit counselor.
The invited guest speaker is Congressman Bennie Thompson -US Representative for our 2nd district. https://www.fico.com/sabf?utm_source=social&utm_medium=social_SABF&utm_campaign=jackson_partners
After you register, you’ll get the link to the webinar, which will be held from noon to 1:15pm Wednesday Dec. 9th, 2020.
Our guest, Shawn Mercer - District Manager for Social Security, takes your call and emails. ssa.gov
- scam phone calls
- ssa.gov
- retirment estimator
- my social security
- Don't carry your card with you!
- Use the "office locator" on ssa.gov to get your local ssa phone number
- disability claims and medicare sign up
Calls and emails:
- structured investments
- optimal time to retire
- estimated benefit
- change name
- giving out your social security number
- more name change
- collecting social security and working
- changing name back
- medicare
See acast.com/privacy for privacy and opt-out information.
On Giving Tuesday, our guest is: Keith Fulcher, president of the Community Foundation for Northwest Mississippi https://cfnm.org/ Find out more on their YouTube Channel: https://www.youtube.com/user/CFNM2002/videos
We learned what a community foundation is and who the CFNM serves (eleven Mississippi counties: Bolivar, Coahoma, DeSoto, Leflore, Marshall, Panola, Quitman, Sunflower, Tallahatchie, Tate and Tunica)
Other community foundations in the area:
- Community Foundation of East Mississippi: five county area, Lauderdale, Kemper, Neshoba, Newton and Clarke. https://www.cfem.org/
- The Gulf Coast Community Foundation: South Mississippi. https://www.mgccf.org/
- West Point Community Foundation http://www.wpnet.org/index.php/community/community_foundation
- CREATE Foundation serves Northeast MS: Alcorn, Benton, Calhoun, Chickasaw, Clay, Itawamba, Lafayette, Lee, Lowndes, Marshall, Monroe, Oktibbeha, Pontotoc, Prentiss, Tippah, Tishomingo and Union counties. https://createfoundation.com/
- Pinebelt Foundation https://www.pinebeltfoundation.org/
- Community Foundation of Greater Jackson become the Community Foundation of Mississippi https://formississippi.org/
- Community Foundation of Greater Memphis serves Eastern AR; Northern MS; Western TN https://www.cfgm.org/
Listen and learn how the donations are managed, what a donor-estabished fund is, how to establish a scholarship fund, and what charities CFNM provides assistance.
If you would like to financially support Mississippi Public Broadcasting, reach out to the MPB Foundation and find out how at https://www.mpbfoundation.org/
See acast.com/privacy for privacy and opt-out information.
Our experts from New Perspectives discuss with our MPB host ways to cut expenses from your life.
First: start by tracking your spending habits.
Next, get on a budget.
When looking to cut expense, re-evaluate your subscriptions.
Utility and specifically electric use are large portions of the average household budget.
The food budget is usually a pretty big part of a budget.
If you’re looking to cut expenses, make it harder to spend money.
( didn’t get to:
Your insurance payments may be taking up more of your budget than needed.
Sometimes cutting expenses means more drastic measures.
Look at housing costs
Sometimes vices or bad habits are putting a drain on your wallet.
A very drastic measure to save money might be have a family member live somewhere else – such as a pet.
Also look at gift giving options, organized children’s activities, and personal grooming.)
Websites to look at:
https://www.debt.org/blog/how-to-cut-expenses/
https://www.thesimpledollar.com/save-money/trimming-the-fat-forty-ways-to-reduce-your-monthly-required-spending/
See acast.com/privacy for privacy and opt-out information.
Guest: Charles Mortimer, Owner/Manager at Windsor Properties of Mississippi
How to make money from real estate?
How to include property in your investment portfolio?
- Home ownership
- Rental properties
- Flipping houses
- Real Estate Investment Groups
- Real Estate Trusts
- Online Real Estate platforms
Our experts from New Perspectives https://www.newper.com/ help us learn all about CDs.
Dr. Nancy Lottridge-Anderson, President of New Perspectives and Ryder Taff, portfolio manager at New Perspectives. Nancy and Ryder are both Chartered Financial Analysts and Ryder also holds the Certificate in Investment Performance Measurement from the CFA Institute.
- What is a CD?
- When is opening a CD a good idea?
- Is a 6-month CD at one institution identical to another?
- Where can you buy one?
- What’s the minimum or maximum for putting money into a CD?
- Do you earn a higher rate of return if you put in more money?
- Do CDs ever “go on sale”?
- How safe are CDs?
- Can you ever get out of a CD early?
- What are: Bump-up, Add-on, No penalty, Jumbo, IRA, and Callable CDs?
Open Topic November! What's in the News:
If you haven’t received the first and so far only Economic Impact payment:
November 21 at 3 p.m. ET Deadline to Request Your Economic Impact Payment
If you did not:
- file a 2019 federal tax return,
- get an Economic Impact Payment,
- register for an Economic Impact Payment already.
- If that is you then, use Non-Filers: Enter Payment Info by November 21 to register for your payment.
- Social Security, Railroad Retirement and Department of Veteran Affairs benefit recipients who already received a $1,200 payment now have until November 21 to register for a payment for their spouse or qualifying child.
You will receive an additional $500 Payment for each qualifying child you claimed on your tax return being used to calculate your Payment. Here's the criteria you should consider:
- Relationship to the individual who is eligible for the Payment: The child is the son, daughter, stepchild, eligible foster child, brother, sister, stepbrother, stepsister, half-brother, half-sister, or a descendant of any of them (for example, grandchild, niece, or nephew).
- Child's age: The child was under age 17 at the end of the taxable year.
- Dependent of the individual who's eligible for the Payment: The child is claimed as a dependent on the 2018 or 2019 tax return or entered on the Non-Filers: Enter Payment Info Here tool.
- Child's citizenship: The child is a U.S. citizen, U.S. national, or U.S. resident alien.
- Child's Residency: Child must have lived with the individual eligible for the Payment for more than half the tax year.
- Support for Child: Child must not provide over half of own support for the tax year.
- Child's taxpayer identification number: The child has a valid work eligible Social Security number or an Adoption Taxpayer Identification Number (ATIN) that was issued before July 15, 2020.
https://www.irs.gov/coronavirus/economic-impact-payment-information-center
For Election Day, you can get:
- A free glazed doughnut at Krispy Kreme along with a special voting sticker while supplies last Tuesday.
- Planet Fitness is offering a way to work off the stress of the election with a free workout and massage Tuesday through Nov. 8.
- Uber and Lyft also are offering discounted rides to the polls.
- DoorDash: The on-demand delivery app will have free delivery on all orders with a $15 minimum placed on Election Day with promo code VOTE
- Starting Tuesday and through Nov. 9, McDonald's is giving away its new pastry items with the purchase of a hot or iced coffee through its app.
- Get free delivery Tuesday on Grubhub orders over $25.
- Shake Shack: Poll workers get a free sandwich including the Shackburger and the Chick’n Shack from Sunday through Election Day with proof of badge.
https://www.usatoday.com/story/money/food/2020/11/03/voters-freebies-poll-workers-deals-election-day-2020/6090281002/
We discussed buying coconut mild picked by monkeys. https://www.usatoday.com/story/money/food/2020/10/28/coconut-milk-chaokoh-monkey-labor-peta-costco-walgreens/5918418002/
According to an article on CNN:
The S&P 500 fell 0.04% between July 31 and October 31. That means the market forecasts -- by a hair -- that Joe Biden will win, according to CFRA Research's Presidential Predictor.
The stock market has a fairly reliable track record: Since World War II, when the S&P 500 fell in the three months leading up to the November vote during a presidential election year, the incumbent president or party of the outgoing president has lost the election 88% of the time.
https://www.cnn.com/2020/11/01/investing/stock-market-joe-biden-donald-trump-election/index.html
The Governor’s Job Fair, a division of The Mississippi Department of Employment Security has some job fairs coming up.
- 2020 I-59 Drive-Thru Job Fair Begins:9:00 am until 3pm on November 5, 2020 at Magnolia Center Fairgrounds Parking Lot, 1459 Ellisville Blvd, Laurel, MS https://www.jobfairs.ms.gov/node/58
- 2020 Mississippi Drive-Thru Job Fair Begins:9:00 am until 3pm on November 10, 2020 at Trustmark Park Parking Lot, 1 Braves Blvd, Pearl, Mississippi https://www.jobfairs.ms.gov/node/60
- 2020 Gulf Coast Drive-Thru Job Fair Begins:9:00 am until 3pm on November 12, 2020 at Edgewater Mall Parking Lot, 2600 Beach Blvd, Biloxi, Mississippi https://www.jobfairs.ms.gov/node/59
- The Madison County Economic Development Authority has announced UPS will be building a new $28.6 million distribution facility in Ridgeland starting in early 2021 and is expected to bring more than 160 new jobs to the area with an average annual salary of $57,000. Those interested in applying for a position at the new facility can visit www.upsjobs.com.
- Amazon is prepping for another facility in Mississippi, this time in Madison County. The development marks the fourth investment by the company in Mississippi in just over two years. In July, Amazon announced hiring more than 500 new, full-time positions at its fulfillment center in Olive Branch, MS. Interested candidates applied online at www.amazon.com/missjobs The full-time jobs started at $15 an hour with comprehensive benefits starting on day one.
- Home furniture maker Fusion Furniture has announced a new manufacturing plant in Mississippi. Between 150 and 180 new jobs will added. Production was to begin yesterday. Starting pay for experienced woodworkers and upholsters will be $21 an hour and all positions come up with benefits.
https://www.clarionledger.com/story/business/2020/10/29/ups-build-28-6-million-facility-ridgeland-create-160-jobs/6071327002/
https://www.localmemphis.com/article/money/business/amazon-to-hire-500-full-time-workers-in-olive-branch-mississippi/522-ef9dcf55-4c88-4d2c-a05b-636bd2849ab4
https://www.woodworkingnetwork.com/news/woodworking-industry-news/fusion-furniture-adds-200000-sq-ft-facility-150-jobs
See acast.com/privacy for privacy and opt-out information.
Listeners discussed:
- how to choose an advisor http://moneytalks.mpbonline.org/episodes/money-talks-choosing-a-professional
- Why she didn't shop at a particular store
- What is fiduciary
- consumer economy
- climate change
- thank you
- fair trade
- anuity
Do you think about this before you make purchaes:
- Environmental impact of what you buy – single use vs reusable
- Impact of what it’s made from – petroleum products vs made from recycled materials
- Impact of how it’s made – child labor vs army labor vs well paid workers
- Where’s it’s made – USA vs over seas
- Packaging – incased in disposable material vs bulk and bring your own container
- Company that makes the product – social philosophy of CEO, politicians they endorse
- Treatment of animals – made of or tested on
- Are you willing to pay more for one item over another based-on Ethics?
- Want vs need. Are you buying on purpose or out of habit?
- Money stays with you or goes to a company that you may not agree with their philosophy
- Rather than “buying” things new buy: Secondhand, Swap, Trade, Repurpose to minimizes the amount of junk that makes its way into landfills, minimizes the number of new items being produced and minimizes your own expense. http://moneytalks.mpbonline.org/episodes/5cd31f1533f6c1be55607d58
- Will I use social media or tell my family why I choose one company over another to encourage them if they share your beliefs
Suggestions:
- Focus on the business you use most frequently – where do you spend the most money? Learn about that company / organization
- 3 Tips to help you be Money Mindful: 1) Keep a Money Diary 2) when you want to make an impulse purchase take 5 deep breaths to take yourself out of the “impulse moment” 3) keep your credit cards at home and only take them out with you when you plan to make a purchase
- Wake up and pay attention to what you spend your money on
- Educate yourself on companies and their practices. Learn about movements that interest you and follow their practices.
- Read labels on products and use your gut instinct.
- Talk to local business owners.
- Donate to organizations that fight for ethics you believe in.
- Volunteer for groups that think the same way you do.
- Support politicians who have views in line with your own.
Information:
When you see a product with the Fair Trade Certified seal, it was made according to specific social, environmental, and economic standards. These products are available for purchase at Kroger, Target, Sam’s, Amazon, and other popular retailers. https://www.fairtradeamerica.org/
Socially responsible investing (SRI) is an investing strategy that strives to generate both ethical change and financial returns for an investor. Socially responsible investments often include companies making a positive sustainable or societal impact.
https://www.moneyunder30.com/mindfulness-can-help-you-save-money
https://www.thesimpledollar.com/financial-wellness/shopping-ethically-without-breaking-your-budget/
https://www.fairtradecertified.org/products
https://www.ecowatch.com/shopping-ethically-2637784366.html?rebelltitem=6#rebelltitem6
https://medium.com/naturehub/what-is-a-conscious-consumer-and-why-does-it-matter-4b7a14ca08fc
https://qz.com/920561/conscious-consumerism-is-a-lie-heres-a-better-way-to-help-save-the-world/
https://growensemble.com/conscious-consumerism/
https://www.nerdwallet.com/article/investing/socially-responsible-investing
https://brainymoney.com/money-mindfulness-tips-to-stay-on-track/
See acast.com/privacy for privacy and opt-out information.
The Top 7 Retirement Concerns for Americans in 2020 from MoneyTalkNews (no relation!) from Retirement Confidence Index from SimplyWise
- Social Security will be gone: AARP article
- Outliving savings: How to calculate RMD article and IRS 2020 rules on RMDs
- Paying medical bills: https://www.medicare.gov/ Health Savings Account info
- Paying daily living expenses
- Not being able to retire at all How Work Affects Your Benefits from SSA Early withdrawal of 401K info
- Having too much debt: suggestions on paying off debt
- Feeling bored or lonely
See acast.com/privacy for privacy and opt-out information.
Factors to take into consideration when deciding to give someone money:
· Fees, Speed, Sending amount, Where the recipient is located, Security, access to actual cash
https://www.npr.org/sections/money/2013/10/04/229224964/episode-489-the-invisible-plumbing-of-our-economy
https://www.mic.com/articles/192848/4-reasons-to-always-carry-cash
https://www.usbank.com/newsroom/news/digital-payment-platforms-primed-to-topple-cash.html
https://www.cnbc.com/2019/01/15/more-americans-say-they-dont-carry-cash.html
https://www.nerdwallet.com/blog/banking/faq-send-money-individual/
https://www.gobankingrates.com/making-money/business/9-ways-transfer-money-friends-family/
- Cash – easiest and most obvious.
a. About 3 in 10 Americans said they make no purchases with cash in a typical week.
b. In a survey of more than 2,000 Americans, U.S. Bank found that 50 percent of respondents said they carry cash with them less than half of the time they are out.
c. More than 1 in 10 millennials use their digital wallet for every purchase.
d. Adults with an annual household income of over $75,000 were more than twice as likely as those making less than $30,000 to say they do not make any purchases using cash in a typical week.
-
Bank Transfer Banks electronically transfer money via ACH. Although some charge fees for a bank transfer, many banks let you transfer money for free to other accounts. Sending a wire transfer through your bank might be the best way to send a large amount quickly. Generally $2,000 to $10,000 per transfer, and delivery can take multiple days.
-
Online Bill Payment Although online bill payment is geared toward recurring payments, like monthly utility bills, it also works for one-time payments. Your bank will outline how to send money through its online bill payment system; the process typically involves logging onto the bank website, filling out the amount of money you wish to send and the recipient’s information, and authorizing the payment to be mailed out or transferred electronically.
Transfers from banks to banks:
-
Zelle Account holders at banks that are part of the clearXchange network can take advantage of the new Zelle app, which allows you to to securely send money to others by using your bank’s mobile app. With Zelle, users just need a mobile phone number or an email address to send money to their intended recipient. No account information is shared when you send money; the program will only use your email or mobile phone number to send or receive money to or from your bank account.
-
Popmoney Popmoney offers one of the easiest ways to send money via mobile devices or email if you have an account at a participating bank. You can send money for free if a Popmoney user sends you a request. Otherwise, it’s only 95 cents if you initiate the transfer.
Non-bank transfers:
-
Walmart-2-Walmart: Walmart is cheaper than traditional money transfer companies, such as Western Union and MoneyGram. You can send to one of the thousands of U.S. Walmart stores, where a recipient can pick up the money within minutes. The maximum you can send is $2,500, and costs can reach up to $16.
-
Person to Person apps - limit how much you can transfer. Examples are Square cash, Venmo – owned by PayPal, Facebook Messenger, Google Wallet, Dwolla
-
International money transfers options: When you make a transfer abroad, you generally encounter two costs: the upfront fee and the foreign exchange margin, or the markup on the exchange rate financial institutions use when transferring money among themselves. Consider both fees to find the best deal.
a. TransferWise or OFX for free services
b. Xoom, a PayPal division and MoneyGram are fast options
c. Western Union The biggest money transfer company worldwide, Western Union also has a sizable range of transfer options. On the provider’s price estimator tool online, you’ll see almost a dozen combinations of sending channels, payment methods and delivery options. You can send money from the Western Union website or its mobile app, and you can use a bank account, debit card or credit card — or send from a nearby agent location using cash. The transfer giant’s physical network covers over 200 countries and territories and more than half a million locations globally.
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On this open topic show we discussed:
- stocks
- jobs
- online sales holidays
- stimulus checks UDATED DATE Nov. 21st 2020
- educational information about your budget, an emergency fund, and car buying
- the Mississippi lottery
- taxes and government
- loss and gains
- IRA withdrawals
Here are some links to additional information:
- https://www.amazon.com/primeday
- https://blackfriday.com/news/walmart-big-save-event-sale
- https://www.target.com/c/deal-days/-/N-xgolj
- https://treasury.ms.gov/for-citizens/financial-empowerment/for-individuals-families/
- https://www.irs.gov/coronavirus/economic-impact-payments
- https://www.irs.gov/newsroom/irs-to-mail-special-letter-to-estimated-9-million-non-filers-urging-them-to-claim-economic-impact-payment-by-oct-15-at-irsgov
- https://www.mslotteryhome.com/instantgames
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Guests: Frank Coxwell and Rachel Coxwell from Coxwell Attorneys PLLC https://www.mississippibankruptcyhelp.com/
We discuss what to do before you even think you might need to file for bankruptcy. Bankruptcy isn't as detrimental to your credit score or your reputation as you may think, suggests our guests.
If you think bankruptcy might be on the table – now or in the future – there are 12 things you need to know now. https://www.mississippiconsumerhelp.com/12-things-you-need-to-know-now/
According to our guests, bankruptcy is the most beneficial to you if you file before you lose everything or deplete your savings and retirement accounts. Why You Should Not Wait To File Bankruptcy https://www.mississippibankruptcyhelp.com/why-you-should-not-wait-to-file-bankruptcy.html
Calls concerned:
- bond index funds
- Wild Card exemptions
- Contractors and foreclosures
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Guests: Jackie Turner, Executive Director and Timothy Rush, Director of Unemployment Insurance from Mississippi Department of Employment Security mdes.ms.gov
As soon as you become unemployed, you may file a claim for unemployment insurance benefits online or by calling 601-855-3133 or 1-888-844-3577. MDES takes phone claims Monday to Friday 7am to 7pm. You can file claims online anytime on their website.
You should be prepared to provide the following information:
- Your Social Security number,
- Your complete mailing address and phone number,
- The names, addresses, and phone numbers for all your employers for the last eighteen (18) months,
- The dates you worked and the reason you left each employer.
- Alien Registration number or Visa number, if you are not a U.S. Citizen.
ReSkillMS is a new program designed to help individuals adversely affected by the COVID-19 pandemic find jobs with better wages and also help support employers who want to hire and train new employees on the job. ReSkillMS.com
The “Mississippi Library Association’s Map of Free Wi-Fi Hotspots Across the State”. website
MDES went from processing 800 claims per week to 5,000 per week to 45,000 claims per week.
Topics discussed:
- phishing scams
- financial market behavior
- national unemployment going down
- MDES's computer system
- self employed wages
- Pandemic Employment Assistance
- Lost Wages Assistance - distribution is on hold now. FEMA funds being used for other emergencies
- appeals process
- certification
- furloughed
See acast.com/privacy for privacy and opt-out information.
Guest: Mississippi Treasurer David McRae https://treasury.ms.gov/
Find Unclaimed Property https://treasury.ms.gov/for-citizens/unclaimed-property/
Learn ways to prepay college tuition or save for college https://treasury.ms.gov/for-citizens/college-savings-mississippi/
What's an ABLE Account? https://treasury.ms.gov/for-citizens/able-savings-program/
Find the MS Office of the Treasurer in the Trade Mart at the upcoming 2020 Mississippi State Fair October 7th through the 18th https://www.mdac.ms.gov/bureaus-departments/state-fairgrounds/fair/
Our experts from New Perspectives teach us what the S & P 500 is, what it measures, what's included in it, and how you can buy it.
Here is the website for the S & P 500
Money Talks expert host Dr. Nancy Lottridge-Anderson explains a stock split.
Listen to this podcast or watch the video https://youtu.be/LuWyZabCSKA
Expert Hosts are Dr. Nancy Lottridge-Anderson, President of New Perspectives and Ryder Taff, portfolio manager at New Perspectives. Nancy and Ryder are both Chartered Financial Analysts and Ryder also holds the Certificate in Investment Performance Measurement from the CFA Institute. https://www.newper.com/
Office Address:
New Perspectives, Inc.
303 Highland Park Cove
Suite B
Ridgeland, MS 39157
Phone: 601-991-3158
Fax: 601-991-3168
Secure Post Office Box:
PO Box 489
Tougaloo MS 39174
Nancy: nanderson@newper.com
Ryder: rtaff@newper.com
Calls and discussions about:
- stock market
- payroll taxes
- coin shortage - how to turn in coins https://coinstar.com/
- stimulus
- buying cars?
- wash sales
- annuities
- shopping on the internet
Suggestions on what to Buy in September:
- older iPhone models
- grills
- patio furniture
- lawn mowers
- summer clothing
- denim
- bicycles
- mattress Money Talks: Mattress Buying
- appliances
- school supplies
https://www.nerdwallet.com/blog/shopping/what-to-buy-september/
https://fabulesslyfrugal.com/best-things-buy-september/
https://www.offers.com/blog/post/what-to-buy-in-september/
https://www.retaildive.com/news/the-running-list-of-2020-retail-bankruptcies/571159/
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Guest: Dr. John Green, Professor with the Department of Sociology and Anthropology and Senior Research Associate with the Center for Population Studies both at the University of Mississippi
To be counted call the Census before September 30, 2020 at 1-844-330-2020
To find out more about the 2020 census please go to their website: 2020census.gov
Want to play a fun Census game? https://www.census.gov/programs-surveys/sis/resources/games/quiz.html
Mississippi KIDS COUNT is the leading resource for comprehensive information on Mississippi’s children and serves as a catalyst for improving outcomes for children, families, and communities. https://kidscount.ssrc.msstate.edu/
The Children’s Foundation of Mississippi is a new, independent operating foundation focused on improving the policies and systems that affect the well-being of children in our state. We were founded in 2019 to serve as a convener, facilitator, advocate, and catalyst for positive change. https://childrensfoundationms.org/
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Did you know your credit score will change this summer because of new metrics? Money Talks experts will explain what a FICO credit score is, how to obtain and understand your credit report, and take your personal finance questions.
· To order, visit annualcreditreport.com, call 1-877-322-8228. Or complete the Annual Credit Report Request Form and mail it to: Annual Credit Report Request Service, P.O. Box 105281, Atlanta, GA 30348-5281.
· UPDATE: Starting in 2020, everyone in the U.S. can get 6 free credit reports per year through 2026 by visiting the Equifax website or by calling 1-866-349-5191. That’s in addition to the one free Equifax report (plus your Experian and TransUnion reports) you can get at AnnualCreditReport.com.
Facts discussed in the show can be found:
https://www.consumer.ftc.gov/articles/0155-free-credit-reports
https://www.finra.org/investors/personal-finance/how-your-credit-score-impacts-your-financial-future
Calls and emails:
- taxes
- credit score
- balance transfers
- credit repair
- student loans
See acast.com/privacy for privacy and opt-out information.
Guest:career development manager and coach Brie Reynolds from Flex Jobs https://www.flexjobs.com/ an online resource for finding online jobs
.
- How does flex jobs differ from other job posting websites?
- Benefits on working from home
- How to be successful working from home
- Resources for parent returning to work after taking time off to care for a child
Facts on Flex Jobs dot com:
- Colorado is the State With the Highest Remote Worker Population (7.9%) with Boulder having the highest (14.9%). Mississippi is the State With the Lowest Remote Worker Population (2.2%) with Jackson, MS having the lowest remote worker population (1.5%).
- The average remote worker earns a higher median salary than an in-office worker. And the average person can save at least $4,600 annually by working remotely.
- About equal percentages of men and women work remotely.
Our financial experts also talked about proposed coronavirus benefits.
Hosts Kevin Farrell and Dr Nancy Lottridge Anderson and Ryder Taff discuss, current events, credit cards and take your questions.
American credit card debt now exceeds $1 trillion. The average US household has $8,398 in credit card debt. 60% of Americans carry their credit card balance month to month.
Coin shortage, mortgage rates, stores closing on Thanksgiving this year: everybody https://www.theblackfriday.com/stores-closed-on-thanksgiving-day.php
According to the website nerd wallet dot com credit score ranges are: 300-329 Bad, 630 – 689 Fair, 690-719 Good, and 720-850 means the likelihood of you repaying new debt is excellent.
A credit card allows you to borrow money from a bank to make purchases. As long as you pay back the money you borrow within the “grace period” of 25-30 days, you don’t have to pay extra. If you don’t pay it back in that time period, you’ll have to pay interest — a percentage of the money you owe the bank — on top of what you borrowed.
Until the passage of the Equal Credit Opportunity Act of 1974, women could not get a credit card without a husband as a co-signer. That meant single women and married women who wished to establish credit separate from their spouses were denied credit cards. The 1974 law made it illegal for creditors to discriminate against applicants on the basis of race, color, religion, national origin, sex, or marital status.
According to Shift Credit Card Processing: 14% of Americans have at least 10 credit cards
Pros:
You can make a large purchase now and pay it off in smaller amounts over time.
Carrying credit cards is more convenient (and safer) than carrying a wad of cash, and credit cards are more widely accepted than personal checks.
With responsible use, you can build your credit, which will be important later on.
Many credit cards give you rewards, essentially giving you back 1% or more of the money you spend. Or sign-up bonuses.
Cons:
You can easily dig yourself into debt if you’re not careful about your spending.
The ease of using credit cards can cause you to overspend.
Missing payments or maxing out a card can sink your credit score quickly.
Interest can make even a small debt become large over time.
Types of cards:
REWARDS – cash back, travel points, specific airline or hotel cards, store cards.Best for cardholders who pay their bill in full every month
LOW INTEREST - lower interest rate, might come with a 0% introductory APR period. Good credit needed to qualify
BALANCE TRANSFER - move your debt from another issuer to take advantage of a lower interest rate. Requires good or excellent credit.
SECURED credit card require a security deposit. For those with average or bad credit
STUDENT CARDS - The Credit Card Act of 2009 prohibits issuers from giving cards to people under 21 unless they have proof of income or a co-signer. Helps people establish credit
Remember:
Fees: late payment, annual fees, Balance transfer fee, Cash advance fee, Foreign transaction fee
Interest payments when you don’t pay off your debt in full: APR for purchases, APR for balance transfers, APR for cash advances, Penalty APR
Tips:
Pay your bill on time and in full every month
Keep your balance below 30% of your available credit
Wait at least six months between credit card applications
Review your account online weekly to track spending and avoid fraud
Keep no-annual-fee credit cards open and active to avoid hurting your credit score
https://spendmenot.com/credit-card-debt-statistics/
https://www.nerdwallet.com/blog/nerdscholar/credit-card/#:~:text=A%20credit%20card%20allows%20you%20to%20borrow%20money%20from%20a,round%2Dtrip%20ticket%20to%20France.&text=If%20you%20don't%20pay,top%20of%20what%20you%20borrowed.
https://www.nerdwallet.com/article/credit-cards/credit-cards-101?trk=nw_gn2_4.0
https://shiftprocessing.com/credit-card/
Calls about:
Bills
proving it's not your debt
debt collection time frame
keeping a file of correspondence
See acast.com/privacy for privacy and opt-out information.
In addition to answering your phone calls and emails, we've got money saving tips for 2020 from AARP https://www.aarp.org/money/budgeting-saving/info-2020/99-ways-to-save.html
- Amazon Prime Day is officially delayed, but not cancelled, due to the pandemic. A new date for the typical mid-July sales event has not been announced.
- Mississippi's sales-tax-free weekend is coming up Friday, July 31 to Saturday, Aug. 1. Sales tax will not be due on articles of clothing, footwear or school supplies if the sales price of a single item is less than $100.
- Sport clothing, shoes and accessories are still subject to the 7% tax rate and do not qualify during the holiday.
- Layaway items do not qualify for the tax break.
- The tax holiday only qualifies for in-store purchases. Mail, internet and telephone sales are still subject to sales tax.
- In 2019, the legislature amended the tax holiday to include school supplies in the tax holiday. Electronics such as laptops or tablets are not listed as eligible school supplies. There is a long list of what does qualify as a school supply. https://www.dor.ms.gov/Business/Documents/2020%20Sales%20Tax%20Holiday.pdf
The parent company of Ann Taylor, Justice, Lane Bryant, and Catherines clothing stores have recently filed for bankruptcy. Also finling from: Lucky's Market, Organic grocer Earth Fare, Pier 1, Modell's Sporting Goods, J. Crew, Neiman Marcus, Stage Stores, which owns Goody's, Palais Royal, Bealls, Peebles, and Gordmans, JCPenney, Tuesday Morning, GNC, the parent company of Chuck E. Cheese, Brooks Brothers, The parent company of New York & Co., and The Paper Store. Men's Wearhouse and Jos. A. Bank will close up to 500 stores. You might find a bargain by shopping at one of them.
https://www.businessinsider.com/retailers-filed-bankruptcy-liquidation-closing-stores-2020-2#cec-entertainment-the-parent-company-of-chuck-e-cheese-filed-for-chapter-11-bankruptcy-protection-on-june-25-its-finances-had-been-in-freefall-since-the-coronavirus-pandemic-hit-18
Use a stores loyalty program to save - Wendy's Rewards has added to its app https://www.wendys.com/rewards
Tips:
- Downsize your cart.when shopping
- Let your online shopping car sit.
- Pay for subscriptions up front.
- Have a "no spend month" or "no spend day"
- Buy don't rent a router
- Get free mulch / wood chips from your city or local tree care companies
Various phone calls touched on other topics.
See acast.com/privacy for privacy and opt-out information.
What is Day Trading? Is it risky? Can anyone do it?
Hear Ryder and Nancy's opinions.
We also talked about a cashless society / the coin shortage.
Calls concerned:
- cashless - discriminatory?
- why wouldn't a store want to take cash
- not all sales are belief that stock is going down
- buyer beware
- Katrina caused a cash only society
According to the new server Reuters: Major U.S. brokerages that reported quarterly results this week cheered the self-directed day trading happening on their platforms as individuals with a bit of extra money and time on their hands during the coronavirus pandemic have been engaging more in markets. https://www.reuters.com/article/us-usa-banks-results-wealth/bored-bank-customers-flock-to-day-trading-platforms-during-pandemic-idUSKCN24I1EM
According to the website Smart Asset dot com, here are the The Best Day Trading Apps of 2019: TD Ameritrade, E*TRADE, Robinhood, Acorns, and Acorns. The article lists 8 in total, each with their own special feature. https://smartasset.com/investing/day-trading-app
Is day trading just online gambling? We’ll let you decide.
https://www.investopedia.com/articles/basics/10/investing-or-gambling.asp
https://www.fool.com/investing/general/2015/10/09/why-day-trading-stocks-is-not-the-way-to-invest.aspx#:~:text=To%20put%20it%20mildly%2C%20day,odds%20on%20a%20regular%20basis.
https://www.thebalance.com/the-striking-similarities-between-trading-and-gambling-1345200
https://www.daytradetheworld.com/trading-blog/top-4-reasons-why-day-trading-not-gambling/
Dangers of Day Trading https://www.nytimes.com/2020/07/08/technology/robinhood-risky-trading.html
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Guest: Adam Black, Renesant Bank 601-540-0302 https://apply.renasantmortgage.com/#/loan-officers/adam.black@renasant
- Who is a "first time" home buyer?
- What are some special programs available?
- Do you know the difference between pre-qualified and pre-approved?
- How much of a loan do you qualify for vs. can you afford?
- What's the difference between deferment and forbearance?
https://www.ms.gov/Agencies/mississippi-home-corporation
Calls concerned:
- penalty for paying off mortgage
- red lining
- student getting a home
- construction loans and mortgage
- RMD from IRA
- refinancing
Guest Shawn Mercer, Regional Manager with the Social Security Administration is our guest.
Calls dealt with:
- payroll tax
- end of life documents needed
- do earning affect benefit
- disability and civil service benefits
- benefits
- medicare
- taxes
- email with myssa
Social Security Administration handles:
- Retirement insurance
- Survivors insurance
- Disability insurance
- Hospital and medical insurance for the aged, the disabled, and those with end-stage renal disease
- Prescription Drug Benefit
- Extra help with Medicare Prescription Drug Costs
- Supplemental Security Income
- Special Veterans Benefits
- Unemployment insurance
- Public assistance and welfare services
At ssa.gov yo can:
- apply for retirement, disability, and Medicare benefits online
- check the status of an application or appeal
- request a replacement Social Security card (in most areas)
- print a benefit verification letter
- and more – from anywhere and from any of your devices!
Social Security employees will never threaten you for information or promise a benefit in exchange for personal information or money. For more information click on the top of the ssa.gov webpage.
https://twitter.com/SocialSecurity
https://www.facebook.com/socialsecurity/
https://blog.ssa.gov/
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https://www.finra.org/investors/learn-to-invest/choosing-investment-professional
Registered Financial Professionals
- Buy and sell securities for their customers, including individual investors. They are regulated by FINRA and the SEC.
Investment Advisers
- Provide advice about securities tailored to the needs of their clients. They are regulated by the SEC or state securities regulators.
Financial Planners
- Provide an array of financial services that vary from provider to provider. Regulation and licensing depends on the services offered.
Insurance Agents
- Sell life, health and property insurance policies, and other insurance products, including annuities. They are regulated by state insurance commissions.
Accountants
- Provide professional assistance with taxes and financial planning, tax reporting, auditing and management consulting. They are regulated by national and state licensing standards.
Lawyers
- Offer legal assistance to clients related to financial planning and investment decisions, and may represent clients in disputes with firms or investment professionals. They are regulated by state bar associations.
https://www.investor.gov/home/welcome-investor-gov-crs
mymoney.gov
https://www.federalreserveeducation.org/
http://moneytalks.mpbonline.org/episodes/money-talks-unemployment
https://www.investor.gov/introduction-investing/general-resources/news-alerts/alerts-bulletins/investor-bulletins/investor-0
Investor Bulletin: How to Select an Investment Professional
Choosing an investment professional is an important decision. This updated Investor Bulletin provides a few key tips to help you make a well-informed choice. A number of questions you should consider asking before you hire an investment professional are in the investor bulletin “Questions to Ask When Hiring an Investment Professional.” Should you have any questions, feel free to call Investor.org’s toll-free investor assistance line at 1-800-SEC-0330 or use the online question web form at https://www.sec.gov/oiea/QuestionsAndComments.html.
Tip 1. Make sure the investment professional is licensed.
Tip 2. Find out if the products and services available are right for you.
Tip 3. Understand how you’ll pay for services and products, and how your investment
Tip 4. Ask about the investment professional’s experience and credentials.
Tip 5. Ask the investment professional if he or she has had a disciplinary history with a government regulator or had customer complaints.
https://www.usa.gov/
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This broadcast highlighted many of the organizations that provide help during the pandemic and our recent podcasts that dealt with some of these issues.
Unemployment
The CARES Act added $600 per week from the federal government on top of whatever base amount a worker receives from the state. July 13th, this benefit end.
- The legislation also adds 13 weeks of unemployment insurance.
- Typically, self-employed people, freelancers and contractors can't apply for unemployment. The CARES Act created a new, temporary Pandemic Unemployment Assistance program through the end of this year to help people who lose work as a direct result of the public health emergency.
- On our April 7th Money Talks, we had executives from Mississippi Department of Economic Security. http://moneytalks.mpbonline.org/episodes/money-talks-unemployment
- Online filing is encouraged! A claim may be filed on-line at www.mdes.ms.gov twenty-four (24) hours a day, seven (7) days a week.
- call the MDES Contact Center at 1-888-844-3577
- you may contact your local WIN Job Center – there are over 40 of them - for assistance.
mdes.ms.gov/unemployment-claims/covid19
Time off from work
- Eligible employees get 2 weeks of paid sick leave as long as they’ve been at employed at least 30 days.
- Some workers can also get 12 weeks of paid leave to care for children whose’ s schools were closed or whose child care provider is unavailable.
- The leave law expires December 31st.
https://www.dol.gov/coronavirus
Food banks and pantries
MS Food Network's executive director was on the show June 9th http://moneytalks.mpbonline.org/episodes/money-talks-ms-food-network
- He talked about how many people who had never needed a food pantry before were now looking for assistance.
- 601-353-7286 is their phone number where you can find out where pantries are near you.
- Their web site msfoodnet.org
- Supplemental Nutrition Assistance Plan (SNAP) provides nutritional food assistance for those who meet eligibility requirements. https://www.fns.usda.gov/snap/recipient/eligibility
- Women, Infants and Children (WIC) provides low-income women, infants and children with food, nutrition counseling, and access to health services. https://www.fns.usda.gov/wic
- Mississippi Department of Human Services provides many services for individuals, families, children, and seniors in need. https://www.mdhs.ms.gov/covid-19-updates/
Mortgage assistance and forbearance
- Mississippi Home Corporation (MHC) has reopened the Hardest Hit Fund (HHF) to provide short-term mortgage assistance to those who have lost employment or income due to the COVID-19 pandemic. This will allow MHC to pay monthly mortgage payment assistance. People can submit applications through an online portal : mshomesaver.com
- If you have a federally backed mortgage, and if you experience financial hardship due to the coronavirus pandemic, you have a right to request a forbearance for up to 180 days. You also have the right to request an extension for up to another 180 days. You must contact your loan servicer to request this forbearance. There will be no additional fees, penalties or additional interest (beyond scheduled amounts) added to your account. You do not need to submit additional documentation to qualify other than your claim to have a pandemic-related financial hardship.
https://www.consumerfinance.gov/about-us/blog/guide-coronavirus-mortgage-relief-options/
- Forbearance is when your mortgage servicer or lender allows you to pause (suspend), or reduce your mortgage payments for a limited period of time while you regain your financial footing.
- Forbearance doesn’t mean your payments are forgiven or erased. You are still required to repay any missed or reduced payments in the future.
- Make sure you understand how the forbearance will be repaid. There can be different forbearance programs or options, depending on the type of your loan.
- If and when your income is restored, reach out to your servicer and resume making payments as soon as you can so your future obligation is limited.
Credit Cards
On May 12th we had a guest on our show from the National Foundation for Credit Counseling. In addition to mortgage forbearance, he talked about credit cardsand asking for help with your debt. http://moneytalks.mpbonline.org/episodes/money-talks-credit-counseling
- Contact your provider to formally request financial assistance.
- Tell them you’ve been impacted by the coronavirus pandemic
- Ask questions about the credit card relief packages they offer
- Get a written copy of your agreement
- Ask to lower your monthly minimum payment or ask for waiving or refunding late fees. Reduce your interest rate. Establish a payment plan to pay off existing balances.
https://www.consumerfinance.gov/about-us/blog/credit-card-debt-during-coronavirus-relief-options-tips/#:~:text=Lowering%20or%20deferring%20your%20monthly,after%20your%20forbearance%20period%20ends.
Small business assistance
On May 20, 2020, Governor Tate Reeves signed SB2772 into law, establishing the Back to Business Mississippi Grant Program.
The grants will be used to help businesses in Mississippi with 50 or fewer employees recover from the economic impact of COVID-19, including operating expenses and salaries.
The Mississippi Development Authority is now accepting applications on this site from small businesses.
https://www.backtobusinessms.org/
Child Care
The Childcare Crisis Assistance in Isolation Response Plan (CCAIR) is designed to serve as temporary, emergency childcare facilities during this crisis period for families listed as essential workers in Executive Order 1463. For more information on CCAIR, as well as what steps that must be taken before being considered for certification as a CCAIR site, you can go to www.mdhs.ms.gov/ccair.
- Don't forget to redeem your gift cards before stores go out of business
- United Way and Salvation Army might be of assistance for you.
- The Mississippi Department of Mental Health has resources on its website and a phone number to call for help. 1-877-210-8579
http://www.dmh.ms.gov/regarding-the-covid19-coronavirus/
https://www.entergy.com/covid-19/msresources/
https://www.mississippi.org/coronavirus/
Calls:
- Unemployment for self employed
- Get my payment https://www.irs.gov/coronavirus/get-my-payment
- Retirement
- Unemployment and EIP
See acast.com/privacy for privacy and opt-out information.
Have you gotten your Economic Impact Payment? Will you be traveling during the "Summer of Coronavirus"?
irs.gov/coronavirus/economic-impact-payments
- People who have lost or destroyed their Visa prepaid debit cards now can request a free replacement through MetaBank’s customer service department. You can call 800-240-8100 (select option 2 from the main menu).
- If your address changed, you may need to go through the process of changing it on file with the IRS. One way to do so is by filing Form 8822, Change of Address.
- To trace your payment, call the IRS at 800-919-9835 or you may submit Form 3911.
Can you say Stay-Cation?
What are some examples of some free things to do near your home?
- Catch a magnificent sunset or sunrise
- Take a walk or bike ride.
- Play in the park.
- Swim at the beach or lake.
- Visit a state park and walk their trails
- Visit a market.
Are you driving somewhere?
Improve the Efficiency of Your Car: When taking road trips make sure your car is operating efficiently and is fully serviced. Some tips:
- Check the pressure of your car tires.
- Drive slower.
- Use the right oil to increase mile usage.
- Watch your luggage – the heavier the car the more fuel you’ll use.
- Pack inside your car not on top.
What about the availability of rest stops for each state, their welcome center and any COVID-19 information you may need to know?
https://htv-prod-media.s3.amazonaws.com/files/state-rest-stop-travel-information-new-1591885986.pdf
Staying in a hotel?
- Consider staying more than 1 night for a discount
- Call the hotel directly to get a cheap room or obtain special information.
- Could you save by staying over a Sunday night?
See acast.com/privacy for privacy and opt-out information.
Our guest is Dr. Charles Beady, the Executive Director of Mississippi Food Network, which began in 1983 as a warehouse facility that would accumulate, store, and distribute food for charities who would then make the final distributions to needy people in their community. MFN is a member of Feeding America, the nation’s largest domestic hunger-relief organization. https://www.msfoodnet.org/
There are 430 agencies that distribute the food that MS Food Network accumulates.
No.1 requested food donation: canned meat
When NOT during a pandemic, volunteers who have registered help at the warehouse each month https://www.msfoodnetvolunteers.org/
If your organization would like to host a food drive, please contact Stacey Cain at 601-973-7089 or scain@msfoodnet.org.
If you are interested in making a corporate donation, please call Mack Matthews at mmatthews@msfoodnet.org or 601-353-7215.
There are other ways to give:
Monetary donations
Shop at Kroger. When shopping at Kroger Stores, make a donation to MFN by registering your Kroger card with the Community Rewards Program (www.kroger.com/account/enrollCommunityRewardsNow/) or through the scan card program found at all registers.
Shop Amazon Smile. It’s just like “regular” shopping at Amazon.com, but .05 percent of your purchase can be designated for MFN. Sign up to support Mississippi Food Network today (smile.amazon.com).
To contact MS Food Network:
Mississippi Food Network
P.O. Box 411
Jackson MS 39205-0411
info@msfoodnet.org
U. S. Bureau of Labor Statistics – Unemployment data https://www.bls.gov/
See acast.com/privacy for privacy and opt-out information.
Our experts check in and update us with the financial news in Mississippi and USA.
Topics covered:
- financial markets
- future Economic Impact Payments
- HEROES Act
- EIP debit cards
- Safe Return
- Emergency Funds
- start small in your savings account
- maybe move larger amounts to a money market
- automatically save
- beware of securities
- Credit Reports
- get your free WEEKLY reports
- check them carefully
- https://www.annualcreditreport.com/index.action
No sooner do we come out of the Safer at home executive order but it’s almost hurricane season. Today’s show is an encore broadcast from May 8th 2018. Our hosts, Dr Nancy Lottridge Anderson, President of New Perspectives and Ryder Taff, Portfolio Manager at New Perspectives give advice on how to prepare your financial first aid kit.
http://moneytalks.mpbonline.org/episodes/5cd31f1533f6c1be55607d84
2020 Information:
https://www.msema.org/wp-content/uploads/2020/04/39779_MEMA-Hurrican-Preparedness.pdf
https://www.msema.org/preparedness-2/hurricanes/
https://www.fema.gov/media-library-data/1582162058237-59774592ecfffe4e9962d0e1ec3e4780/EFFAKToolkit_FormsOnly_20190906.pdf
https://www.ready.gov/financial-preparedness
Emergency Financial First Aid KitThe Emergency Financial First Aid Kit (EFFAK), a joint publication from Operation Hope and FEMA, can help you prepare financially and provides tips to reduce the financial impact of disasters on you and your family.
For Organizations
Encourage people throughout your organization or workplace to prepare financially. Here are some ideas to promote financial preparedness in your organization:
- Hold a brown bag meeting.
- Make a presentation at an existing staff meeting using Safeguard Critical Documents and Valuablesto support your discussion.
- Include financial preparedness information in the staff monthly newsletter.
At Home
Store important documents either in a safety deposit box, an external drive or on the cloud to make it easy to access during a disaster.
Take time now to safeguard these critical documents.
Household Identification
- Photo ID (to prove identity of household members)
- Birth certificate (to maintain or re-establish contact with family members)
- Social Security card (to apply for FEMA disaster assistance)
- Military service
- Pet ID tags
Financial and Legal Documentation
- Housing payments (to identify financial records and obligations)
- Insurance policies (to re-establish financial accounts)
- Sources of income (to maintain payments and credit)
- Tax statements (to provide contact information for financial and legal providers and to apply for FEMA disaster assistance)
Medical Information
- Physician information (in case medical care is needed)
- Copies of health insurance information (to make sure existing care continues uninterrupted)
- Immunization records
- Medications
Insurance Information
Having insurance for your home or business property is the best way to make sure you will have the necessary financial resources to help you repair, rebuild or replace whatever is damaged. Document and insure your property now.
Household Contact Information
- Banking institutions
- Insurance agents
- Health professionals
- Service providers
- Place of worship
Get Your Benefits Electronically
A disaster can disrupt mail service for days or weeks. If you depend on Social Security or other regular benefits, switching to electronic payments is a simple, significant way to protect yourself financially before disaster strikes. It also eliminates the risk of stolen checks. The U.S. Department of the Treasury recommends two safer ways to get federal benefits:
- Direct deposit to a checking or savings account. If you get federal benefits you can sign up by calling 800-333-1795 or sign up online.
- The Direct Express® prepaid debit card is designed as a safe and easy alternative to paper.
See acast.com/privacy for privacy and opt-out information.
What's going on in Mississippi this week?
We are still under the Safer-at-home Executive Order number 1477 that was extended and remains in effect until Monday, May 25th. Governor Tate Reeves is encouraging all of us to stay at home unless engaged in Essential Activities or Essential Travel.
Gov. Tate Reeves has expanded social distancing guidelines for Attala, Leake, Scott, Jasper, Neshoba, Newton, and Lauderdale counties. Businesses in these counties must screen employees for the coronavirus. People have to wear masks if they cannot social distance at their jobs and masks must be worn during retail, live auction and flea market shopping.
https://www.sos.ms.gov/content/executiveorders/ExecutiveOrders/1477.pdf
https://www.sos.ms.gov/content/executiveorders/ExecutiveOrders/1480.pdf
The governor added some benefits for the unemployed. https://www.coronavirus.ms.gov/2020-04/governor-reeves-extends-unemployment-workers-impacted-covid-19
Calls concerned:
- credit card rates
- a 2nd EIP check?
- wife lost work
- do dependents get checks?
- where's my check?
- unemployment
- you need your AGI for "Get My Payment" at the IRS
- checks to deceased individuals
Looking for a way to make more money?
- consider online tutoring sites like Chegg or VIPKid
- selling handmade products such as jewelry or greeting cards on ETSY
- delivering food for DoorDash or GrubHub
- Delivering groceries for companies such as Shipt or Instacart
- selling books on Amazon Marketplace or other items locally on Facebook Marketplace
- offering to your services to neighbors
- yards maintenance
- dog walking
- supervising children outside or in a park – if you already have a relationship with the family.
https://www.inhersight.com/blog/how-to/make-money-during-coronavirus-pandemic?_n=92545989#
Also consider taking a class in contact tracing so you'll be ready for the job market when Mississippi starts hiring
https://www.coursera.org/learn/covid-19-contact-tracing?edocomorp=covid-19-contact-tracing
See acast.com/privacy for privacy and opt-out information.
Guest: Bruce McClary from the National Foundation for Credit Counseling https://www.nfcc.org/
DATES TO KNOW: Submit your banking information to receive direct deposits of Economic Impact Payments by 11am Wednesday, May 13th, 2020.Mississippi Income Tax Returns and Payments are now due July 15th, 2020.
Topics on the NFCC's website include - 10 Smart Ways to Reduce Expenses and Tighten Your Budget to Make Your Stimulus Check Last, Tips for Making and Managing an Emergency Budget; Should You Access Your Retirement Funds Early Due to COVID-19
You can hear Bruce McClary give additional information on NFCC's Fin Bit Podcast https://open.spotify.com/show/6I2jbwF7mg9BxU3ywhdEUQ
Discussions covered
- Eviction and Foreclosure Suspension for Homeowners Facing Difficulties Making Mortgage Payments https://www.nfcc.org/resources/blog/eviction-and-foreclosure-suspension-for-homeowners-facing-difficulties-making-mortgage-payments/
- Mortgage Forbearance
- Refinancing https://www.nfcc.org/resources/blog/5-ways-to-still-refinance-your-mortgage-with-a-less-than-perfect-credit-score/
- Warning about " housing relief" scams https://www.nfcc.org/what-we-offer/foreclosure-prevention-counseling/foreclosure-rescue-scams/
- Credit card debt https://www.nfcc.org/what-we-offer/emergency-credit-card-help/
- Free weekly credit report https://www.annualcreditreport.com/index.action
Bruce was a guest on the July 3rd 2018 Money Talks broadcast http://moneytalks.mpbonline.org/episodes/5cd31f1533f6c1be55607d7c
See acast.com/privacy for privacy and opt-out information.
Money Talks expert host, Dr. Nancy Lottridge Anderson was inspired by a recent phone call on the show to talk about the history of money. Listen here to the audio from the creative you tube video she and her husband created or find a link to the video on this site.
Thank you for listening and supporting Money Talks on Mississippi Public Broadcasting.
Money Talks can be heard live on MPB Think Radio Tuesdays at 9am. Or listen to the podcast. Moneytalks.mpbonline.org
How can the stock market bounce back when the economic news is so dire? Much of the answer lies with our central bank, The Federal Reserve. The Fed has been pumping money into the system to under-gird the economy.
Last week, on the radio, I was asked, "How does the Fed create money?" There was only a minute left before we went to break, so my answer was brief. I decided I needed to craft a better answer. With the help of my producer/director husband, we made a movie!
Magic Money
From our experts at New Perspectives:
We've been presented with questions and concerns surrounding stimulus payments for residents of Medicaid-funded skilled nursing facilities (a.k.a “nursing homes”). Will they get a check? Will they actually get to KEEP the money? Will a stimulus payment affect their Medicaid eligibility status? Hopefully we can offer a bit of clarity.
While these residents are normally required to surrender most all their income, the stimulus payment will be an exception. Below is a link to an article that addresses this succinctly, with the key takeaways being:
- Residents of these facilities should receive a stimulus payment.
- The facility cannot take the funds to offset a bill or for any other reason.
- The funds will NOT be treated as income for purposes of Medicaid eligibility and will not force anyone out of their current eligibility status.
- The funds need to be spent within 12 months, so they are not counted as an asset which could impact eligibility for next year.
Now may be the time for residents to purchase new clothes or a new TV for their room. The American Council on Aging also suggests using the funds for an irrevocable funeral trust to help prepay burial expenses. Residents may use the money at their discretion but should avoid buying anything that would count as an asset under Medicaid regulations, e.g.- U.S. Savings Bonds or collectors coins.
Read the full article here:
https://www.nbc-2.com/story/42029916/fact-check-will-nursing-home-residents-not-get-their-stimulus-checks
See acast.com/privacy for privacy and opt-out information.
Are you waiting for an Economic Impact Payment? Will you have to wait until June? September? April of 2021?
Expert Dr. Nancy Lottridge-Anderson answers your questions (and learns a thing or 2 from our listeners who share their knowledge).
From Social Security:
Please note that we will not consider economic impact payments as income for SSI recipients, and the payments are excluded from resources for 12 months. https://blog.ssa.gov/commissioner-of-social-security-shares-update-about-covid-19-economic-impact-payments-for-beneficiaries/
Supplemental Security Income recipients and low-income veterans who receive pensions from the Department of Veterans Affairs -- and who don't file returns -- can expect to see the money in May. If they have children, they're due an actual $500 per dependent. But they won't get this money until next year unless they give dependent information to the IRS today, May 5th, 2020 at the website https://www.irs.gov/coronavirus/non-filers-enter-payment-info-here
For Social Security recipients, who have children under the age of 17, the date has already passed for getting the additional money for dependents. They'll have to file a full return in 2021 to get the additional money.
If you want your check direct deposited and you have had to PAY income tax in 2018 and 2019, you need to go to the Get Your Payment part of the IRS website to put in your Direct Deposit information. Even if the IRS has your bank account information to withdraw your taxes owed it needs you to give it to them again to have your check direct deposited. https://www.irs.gov/coronavirus/get-my-payment
The IRS started by sending money to the people it could reach the fastest. This was anyone who had direct deposit information already on file with the agency because they were due a refund on either their 2018 or 2019 federal tax returns.
Now, payments are being delivered to millions of Social Security recipients who don't file tax returns. They can expect the money to automatically arrive however they normally receive their benefits, whether by a check in the mail or direct deposit to their bank account or debit card.
The IRS began sending paper checks out the last week of April.
The IRS has inadvertently sent checks to dead people. Families are expected to send back those checks.
If the Economic Impact Payment was sent to closed bank account -- the bank will transferred the money back to the IRS. In that case, the payment will likely come later by a check in the mail.
The IRS online tool allows users to input new bank account information -- but only if the agency doesn't already have an account on file from a 2018 or 2019 tax return and hasn't yet processed a stimulus payment. https://www.irs.gov/coronavirus/get-my-payment
Eligibility is largely based on income, and it excludes individuals earning more than $99,000, head of household filers with one child who earn more than $136,500, and married couples without children earning more than $198,000.
Families earning a little more may still be eligible if they have children. The phase-out limit depends on how many children they have. For a typical family of four, the amount is completely phased out for those with incomes exceeding $218,000.
Those who can be claimed as a dependent for tax purposes, like many college students, are also ineligible for the payments, as well as undocumented immigrants who don't have Social Security numbers.
https://amp.cnn.com/cnn/2020/04/29/politics/stimulus-payment-checks-waiting/index.html
https://www.irs.gov/coronavirus/economic-impact-payments
https://www.usatoday.com/story/news/politics/2020/04/29/steve-mnuchin-wants-stimulus-given-dead-people-returned/3046434001/
https://www.fool.com/personal-finance/2020/04/26/6-reasons-your-coronavirus-stimulus-check-may-neve.aspx
Calls:
- economy
- Medicaid
- qualifying for stimulus
- get my payment
- info on stimulus
- SSI
- Medicaid
- money
See acast.com/privacy for privacy and opt-out information.
Guest was: Ivan Drury, a Senior Manager in the Insights Division at Edmunds.com, where he examines trends in the automotive industry and provides insights for Edmunds’ monthly sales forecasts.
https://www.edmunds.com/car-news/coronavirus-faqs-for-car-shoppers-and-owners.html
Questions were asked about stimulus checks, car leasing, Prius vehicles.
Discussions covered: showrooms, internet sales, manufacturer incentives, forbearance, length of car notes, leasing, certified pre-owned cars, and the Edmunds website.
Free Oil!"They're going to be giving this stuff away soon" I mumbled to myself
as I shook change out of a fifteen dollar bill to fill my tank.
When I drive by a gas station with low prices, I remark "they're going to be giving it away soon." It's my inside joke that gets a guaranteed eye roll from whoever else is in the car. Sometimes that is just me. Recently, some gas stations have come close to giving gas away, one near my house sold gas for $1 and gave free sandwiches and water away with a fill up recently. Costco was selling gas $1.17/gallon.
But yesterday - they really were giving it away for free.
To be precise, the price of oil went below $0. People were PAYING to get rid of oil. What's up with that?
First, a primer. If you're trading oil for financial purposes (speculation, hedging, fun or profit, etc) you don't go out and secure a few barrels of the stuff, you trade contracts on a bunch of it. These standardized futures contracts state what type of oil, how much ($10,000 barrels, generally), what type (West Texas Intermediate, in this case) and when it will be delivered (there is a monthly schedule). If you hold the contract when it expires, congratulations, you own the oil! You just need to go to Cushing, OK to pick it up. This is all very standard stuff, and it's right there in the contract:
Delivery shall be made free-on-board ("F.O.B.") at any pipeline or storage facility in Cushing, Oklahoma with pipeline access to Enterprise, Cushing storage or Enbridge, Cushing storage. Delivery shall be made in accordance with all applicable Federal executive orders and all applicable Federal, State and local laws and regulations.
At buyer's option, delivery shall be made by any of the following methods: (1) by interfacility transfer ("pumpover") into a designated pipeline or storage facility with access to seller's incoming pipeline or storage facility; (2) by in-line (or in-system) transfer, or book-out of title to the buyer; or (3) if the seller agrees to such transfer and if the facility used by the seller allows for such transfer, without physical movement of product, by in-tank transfer of title to the buyer.
If you don't want to own the oil, easy, just sell the contract and pick up the next month. Generally, this works pretty smoothly. Again, oil is a widely used commodity and if you don't want it, someone else probably does.
But lately, oil prices haven't been working the same way they generally do. With heavy travel restrictions and everyone working from home, demand for oil in the form of gasoline and jet fuel has declined precipitously. On top of that Saudi Arabia and Russia decided start a price war, pumping as fast as they could and pushing the price down even further. American producers, indebted since the last oil price shock in 2016, kept their rigs pumping even though they starting losing money on every barrel. Having a little money and a lot of bills is better than having no money, and still a lot of bills, they figured.
So oil prices kept dropping, but how did they get negative?
If you're pumping oil, but nobody wants it, you've got to store it. People with storage space, in huge above ground tanks, massive ships or a salt dome in their back yard, charge for storage. That storage was filling up fast. When storage is full, and nobody will buy from you, the price will plummet more. Eventually, you've got to pay someone to take it from you.
A particular problem emerges when people holding contracts for oil realize that they can't store the oil either. If you're just holding the contracts in your brokerage account, or a fund like USO you can't take physical delivery of oil. You have to get rid of those contracts at any price - even if it means paying someone to take them.
That is what happened Monday. Nobody had storage space for oil and nobody wanted to hold their contract as it expired. Brokerages dumped the shares as fast as they could, which meant in some cases they were paying to get rid of them. The price of oil to be delivered in May dropped as low as -$40 at one point!
Could this happen again?
It is not impossible for oil prices to go below zero, but this has been a lesson learned for a lot of market participants. Brokers don't want to be on the hook for closing out customers positions at such a large loss (these are traded using money borrowed from the brokerage, if the value goes negative again, and you can't pay the broker back, that is the broker's problem!). Many will likely update their policies and procedures to keep that from happening again. Plenty of investors will continue to buy oil futures or funds though and storage will continue to fill up. The price action may not be as dramatic next time, but there certainly can be a next time.
Posted by Ryder Taff, CFA
https://newper.blogspot.com/2020/04/free-oil.html
See acast.com/privacy for privacy and opt-out information.
UPDATE: Read host Ryder Taff's blog post about oil prices going negative https://newper.blogspot.com/2020/04/free-oil.html
The official name for the COVID-19 stimulus checks is the Economic Impact Payment. Have you gotten your check yet?
Want to see when you should get your check? Get My Payment is helping millions of taxpayers. Since its launch on April 15, millions of taxpayers have been able to input their direct deposit information to speed—and track—their payments. The IRS reminds taxpayers the information is updated once daily, usually overnight, so they only need to check the application once a day. www.irs.gov/getmypaymentfaq
Need to give your payment information to the IRS? www.irs.gov/getmypaymentfaq
Have you filed and paid your personal income taxes yet? The Mississippi Department of Revenue extended Income tax due dates, including estimated payments, to Friday, May 15th, 2020. The deadlines to FILE and PAY federal income taxes are extended to July 15, 2020.
For the calendar year 2020, no one will have to take a required minimum distribution from any individual retirement accounts or workplace retirement savings plans, like a 401(k). That way, you aren’t forced to sell investments that may have fallen in value, which would lock in losses. If you don’t need the money now, you can let the investments sit and hope that they recover.
You can withdraw up to $100,000 this year from your IRA that you are contributing to without the usual 10 percent penalty, as long as it’s because of the outbreak. You will also be able to spread out any income taxes that you owe over three years from the date you took the distribution. And if you want, you could put the money back into the account before those three years are up, even though the rules may normally keep you from making a contribution that large.
https://www.npr.org/2020/03/26/821457551/whats-inside-the-senate-s-2-trillion-coronavirus-aid-package
Calls concerned:
- inheritance check
- EIP check
- IRS non filer
- EIP and college kids
- moving money from IRA to a Roth IRA
- Social Security recipients getting checks
- Small businesses
- email - parent who was a dependent in the past
- Self employed
- Required minimum distributions
See acast.com/privacy for privacy and opt-out information.
This is the 8th week Money Talks has focused on the financial aspect of the COVID-19 pandemic.
Don't compound your financial troubles by being a victim of scammers targeting your economic impact payment. Guest Wilks Cutrer from MPB's Everyday Tech gave out some advice. http://everydaytech.mpbonline.org/
Beware of scammers wanting to reimburse you for your extra costs during this emergency or sell you items to ensure your protection. Look out for "snake oil salesmen". Watch out for bogus charities.
If you think you are a victim of a scam or attempted fraud involving COVID-19, you can report it without leaving your home though a number of platforms. Contact the National Center for Disaster Fraud Hotline at 866-720-5721 or via email at disaster@leo.gov If it's a cyber scam, submit your complaint through https://www.ic3.gov/default.aspx https://www.justice.gov/coronavirus
Reporting Coronavirus-related or other phishing attemptsThose who receive unsolicited emails, text messages or social media attempts to gather information that appear to be from either the IRS or an organization closely linked to the IRS, such as the Electronic Federal Tax Payment System (EFTPS), should forward it to phishing@irs.gov.
Taxpayers are encouraged not to engage potential scammers online or on the phone. Learn more about reporting suspected scams by going to the Report Phishing and Online Scams page on IRS.gov.
Official IRS information about the COVID-19 pandemic and economic impact payments can be found on the Coronavirus Tax Relief page on IRS.gov. The page is updated quickly when new information is available.
https://www.consumer.ftc.gov/articles/how-recognize-and-avoid-phishing-scams
https://www.irs.gov/coronavirus-tax-relief-and-economic-impact-payments
https://www.irs.gov/newsroom/irs-issues-warning-about-coronavirus-related-scams-watch-out-for-schemes-tied-to-economic-impact-payments
https://www.npr.org/2020/03/26/821457551/whats-inside-the-senate-s-2-trillion-coronavirus-aid-package
http://moneytalks.mpbonline.org/episodes/money-talks-unemployment MDES
http://moneytalks.mpbonline.org/episodes/money-talks-cyber-security Cyber Security
http://moneytalks.mpbonline.org/episodes/5cd31f1533f6c1be55607d8c Scams
See acast.com/privacy for privacy and opt-out information.
What a jam packed podcast! We took so many calls and emails with our guests: Jackie Turner, Executive Director and Timothy Rush, Director of Unemployment Insurance from MDES. Have a listen - maybe we answered your questions.
The big takeaway from the show - have patience. This is happening fast. The 900 phone lines are jammed. Try again, try another phone line, try to email. Have patience.
- Visit the MDES website at www.mdes.ms.gov or call the MDES Contact Center at 1-888-844-3577.
- The contact center hours are 7:00 a.m. to 7:00 p.m., seven days a week.
- If you are experiencing difficulty filing your Unemployment Insurance claim, you can contact your local WIN Job Center by phone or email for assistance. WIN Job Center lobbies are currently closed to prevent the spread of COVID-19. https://mdes.ms.gov/win-job-centers/
Calls dealt with:
- email about weekly job search filing
- how to contact
- help for self employed
- out of state employment
- reduced wages
- partial wage loss
- gig workers
- 1099 religious workers
- Social Security recipient - stimulus check
- when do checks start
- who's eligible
Individuals receiving unemployment benefits will not be required to serve a waiting period week for initial claims filed from now through June 27, 2020.
Work search requirements that normally must be met to be considered eligible for Unemployment Insurance benefits will be suspended beginning March 21, 2020, until June 27, 2020. So to remain eligible for benefits, you don’t have to report job searching.
Who is eligible to file a claim due to COVID-19?
- Those who are quarantined by a medical professional or a government agency,
- Those who are laid off or sent home without pay for an extended period by their employers due to COVID-19 concerns,
- Those who are diagnosed with COVID-19,
- Or, those who are caring for an immediate family member who is diagnosed with COVID-19.
https://mdes.ms.gov/news/2020/03/20/mississippi-announces-support-for-workers-impacted-by-covid-19/
https://mdes.ms.gov/unemployment-claims/covid19/
CARE Act relief check: If you don’t have direct deposit on file with the IRS, there will be an online portal where you can add your information. The IRS hasn’t set that up yet, but once it does, you’ll be able to access it.https://www.irs.gov/newsroom/economic-impact-payments-what-you-need-to-know
You don’t have to do anything to get your payment as long as you have filed a tax return for 2018 or 2019. If you receive Social Security or railroad retirement benefits and don’t typically file a tax return, you don’t have to do anything. The IRS will use your benefit payment information to generate your relief payment.
See acast.com/privacy for privacy and opt-out information.
Listeners want to know how the CARES Act will affect their personal finances. Host Dr. Nancy Lottridge-Anderson, remotely, answered questions for the hour.
- The Mississippi Department of Employment Security announced recently that Mississippi workers who are not able to work due to COVID-19 will be eligible to file for unemployment benefits. This applies to:
- Anyone who is quarantined by a medical professional or a government agency.
- Those who are laid off or sent home without pay for an extended period by their employers due to COVID-19 concerns.
- Those who are diagnosed with COVID-19.
- Those who are caring for an immediate family member who is diagnosed with COVID-19.
- The governor on Sunday released a “Memorandum of Understanding” after Congress passed their legislation. He reminded us:
- Emergency increase in unemployment compensation benefits. The weekly benefit amount goes up by $600. This includes workers that are self-employed – or freelancers or gig workers.
- Funds the first extra week of unemployment insurance that is made available at the state level.
- Provides additional weeks of unemployment benefits for anyone who remains unemployed after typical state unemployment benefits are no longer available.
- With everyone being encouraged to stay at home, folks can file for unemployment by:
- Visiting the MDES website at www.mdes.ms.gov or call the MDES Contact Center at 1-888-844-3577.
- The contact center hours are 7:00 a.m. to 7:00 p.m., seven days a week.
https://www.clarionledger.com/story/news/2020/03/29/coronavirus-mississippi-tate-reeves-shelter-in-place-covid-19-testing-symptoms-health-department/2936075001/
https://mdes.ms.gov/news/2020/03/20/mississippi-announces-support-for-workers-impacted-by-covid-19/
- President Trump on Friday signed the $2 trillion federal stimulus package called the CARE Act. Here are some of the highlights.
- Most adults will get $1,200, although some would get less. For every qualifying child age 16 or under, the payment will be an additional $500.
- The amount of your check depends on your income. Single adults with Social Security numbers who have an adjusted gross income of $75,000 or less will get the full amount. Married couples with no children earning $150,000 or less will receive a total of $2,400. And taxpayers filing as head of household will get the full payment if they earned $112,500 or less.
- Above those income figures, the payment decreases until it stops altogether for single people earning $99,000 or married people who have no children and earn $198,000.
- The government determines income by looking at the 2019 tax return. If you haven’t prepared a tax return yet, you can use your 2018 return.
- You don't have to sign up for this check. If the Internal Revenue Service already has your bank account information, it will transfer the money to you via direct deposit based on the recent income-tax figures it already has.
- Most people who are receiving Social Security retirement and disability payments each month also get a stimulus payment.
- Student loans
- The federal government has waived two months of payments and interest for many federal student loan borrowers. Until Sept. 30, there will be automatic payment suspensions for any student loan held by the federal government.
- If you’ve borrowed money from the federal government — a so-called direct loan — in the past 10 years, you’re definitely eligible.
- Retirement account rules:
- For the calendar year 2020, no one will have to take a required minimum distribution from any individual retirement accounts or workplace retirement savings plans, like a 401(k). That way, you aren’t forced to sell investments that may have fallen in value, which would lock in losses. If you don’t need the money now, you can let the investments sit and hope that they recover.
- If you aren’t retired and are still making contributions but need that money to live on you can withdraw up to $100,000 this year without the usual 10 percent penalty, as long as it’s because of the outbreak.
- You will also be able to spread out any income taxes that you owe from money withdrawn from an IRA over three years from the date you took the distribution. And if you want, you could put the money back into the account before those three years are up, even though the rules may normally keep you from making a contribution that large.
- The bill makes a new deduction available for up to $300 in annual charitable contributions. It’s available only to people who don’t itemize their deductions, and you calculate this new one by subtracting the amount you give from your gross income.
- The Mississippi Public Service Commission voted to temporarily suspended disconnections of certain utility services due to coronavirus concerns. The restriction will be in place for 60 days and apply to all water, sewer, electricity, and gas services.
- The bill puts a temporary, nationwide eviction moratorium in place for any renters whose landlords have mortgages backed or owned by Fannie Mae, Freddie Mac and other federal entities. This will last for 120 days after the bill passes, and landlords also can’t charge any fees or penalties for nonpayment of rent.
https://www.msema.org/news/public-service-commission-to-prohibiting-utility-shutoffs/
https://www.npr.org/2020/03/26/821457551/whats-inside-the-senate-s-2-trillion-coronavirus-aid-package
https://www.nytimes.com/article/coronavirus-stimulus-package-questions-answers.html
Small business load information https://covid19relief.sba.gov/#/ and https://www.peoplelease.com/hubfs/023595_comm_corona_virus_smallbiz_loan_final_revised.pdf
The potentially forgivable SBA 7(a) Relief Loan is not yet available. SBA will have to issue regulations for them in the next couple of weeks before banks can begin taking applications.
The SBA 7(b) Economic Injury Disaster Loans (what I call the O.G. of SBA loans during times of federally declared disasters) are available, but they will not be forgivable. However, they do have very favorable terms.
Basically, if small business owners can hold on for a couple of weeks and wait until the 7(a) loans are made available, they could reap the benefit of potentially free money by complying with the spending terms (payroll, mortgage, utilities, etc.) and having their loans forgiven over time.
Here's a breakdown HORNE has put together explaining the differences between the two options: https://connect.hornellp.com/en/resources/tax/2-loan-options-can-help-businesses-weather-covid-19-shutdown
HORNE will be rolling out more guidance as they know more here: https://connect.hornellp.com/en/covid19
Phone call questions:
- checks
- getting a check if you owe taxes
- getting a check if you draw social security
- social security
- small business loans
- withdrawing from IRAs
- checks
- credit score
- unemployment
- social security
- email about taxes
- adult daughter's check
- check
- check
- small business info
- disability
See acast.com/privacy for privacy and opt-out information.
Nancy Lottridge-Anderson answered questions remotely for our show.
- IRS extened filing and payment deadline to July 15, 2020 for 2019 person income taxes https://www.irs.gov/newsroom/payment-deadline-extended-to-july-15-2020
- Mississippi Department of Revenue extended the deadline to pay and file state taxes to May 15, 2020 for individual and corporate income tax https://twitter.com/MSDeptofRevenue/status/1242177964101468160/photo/1
- All Mississippi businesses and non-profits that are severely impacted by the Coronavirus (COVID-19) pandemic are eligible to apply for low-interest federal disaster loans. https://disasterloan.sba.gov/ela/
- Social Security Administration isn't seeing individuals in the office for now. You can call the National 800 Number. Toll-Free: 1-800-772-1213, call your local office, or go online for answers https://www.ssa.gov/coronavirus/
- The Mississippi Public Service Commission is prohibiting utility shutoffs during this state of emergency. https://www.msema.org/news/public-service-commission-to-prohibiting-utility-shutoffs/
- Congress is currently negotiating a stimulus package.
- Last week, Money Talks discussed picking up groceries. Since then Kroger has waved the pick up fee https://www.kroger.com/i/ways-to-shop/pickup
Calls and email dealt with
- church contributions
- IRA required minimum distributions
- who will get a stimulus check
- investing in oil companies
See acast.com/privacy for privacy and opt-out information.
We continue to experience the financial effects of COVID-19. Ryder Taff talks more about the stock market and our economy.
Call topics:
- percentage of budget going to food
- losing a job due to the virus
- municipal / treasury / corporate bonds
Websites we discussed:
Congressional leaders, administration push swift action on third coronavirus relief bill with major economic stimulus. https://www.washingtonpost.com/business/2020/03/16/congress-fiscal-coronavirus/
https://www.usatoday.com/story/money/personalfinance/2019/02/28/average-grocery-store-bill-cost-is-driven-up-most-by-these-items/39094659/
https://grocery.walmart.com/
https://www.kroger.com/i/ways-to-shop
https://www.cnbc.com/2019/08/27/best-low-cost-online-grocery-delivery-service-reviews.html
https://www.moneycrashers.com/online-grocery-home-delivery-service/
https://clark.com/shopping-retail/foods-to-buy-in-bulk-to-save-money/
See acast.com/privacy for privacy and opt-out information.
MPB's Money Talks discusses the stock markets' reactions to the 2020 Corona virus ramification.
- Market circuit breakers
- Oil and gas futures
- Airline change fees
- Fees for financial advisers
- Mortgage rates
Ryder Taff mentioned the Wall Street Journal article about circuit breakers.
https://www.wsj.com/articles/traders-closely-watching-circuit-breakers-thresholds-11583761223
Here's another article about circuit breakers:
https://finance.yahoo.com/news/7-plunge-p-triggered-trading-062630195.html
See acast.com/privacy for privacy and opt-out information.
What's going on with the 2020 stock market?! Our Chartered Financial Analyst takes questions and talks about uncertainties and personal finance. Ryder Taff from New Perspectives Check the background of this investment professional on FINRA's BrokerCheck.
Joshua Ryder Taff CRD# 6009566
Calls concerning:
- Aggressive investing during retirement
- Paying off a mortgage
- Investing in the stock market
Which explanation for the term"bear" market do you like best?
- Bearskin seller
- Bear claw attack
- Bare bulletin board
Nancy and Ryder often give advice on what to do with your money. Today they’re going to remind you what you might NOT want to do with your savings, investments, or retirement funds. They also take other personal finance questions.
- Precious metals
-
Cryptocurrency
-
Recent stock market drop
- Young adult's debt
- No credit score
- Ginny Mac
- Free IRS filing
https://www.irs.gov/
https://www.irs.gov/filing/free-file-do-your-federal-taxes-for-free
Income $69,000 and BelowFree File Online Products* File your taxes with free, easy to use software * Free state return options are available * Use the Free File Online Lookup Tool to find free federal and free state return options
It's National Second Hand Wardrobe Week February 9th - 15th!
Guests from various types of stores -
Thrift: Michelle Hatfield, Community Relations Director for The Salvation Army - Jackson https://salvationarmyalm.org/jackson/family-store-salvation-army/
Consignment: Parker Wilkinson, Store Manager for Repeat Street, Jackson https://www.repeatstreet.net/
Pawn: Monique Worthy, Store Manager for Plato's Closet, Ridgeland https://www.platoscloset.com/location/ridgeland-ms/
Our hosts also talked about the exchange of clothes through Classified Ads such as Facebook Marketplace or eBay.
Did you know your credit score will change this summer because of new metrics? Money Talks experts will explain what a FICO credit score is, how to obtain and understand your credit report, and take your personal finance questions.
· To order, visit annualcreditreport.com, call 1-877-322-8228. Or complete the Annual Credit Report Request Form and mail it to: Annual Credit Report Request Service, P.O. Box 105281, Atlanta, GA 30348-5281.
· UPDATE: Starting in 2020, everyone in the U.S. can get 6 free credit reports per year through 2026 by visiting the Equifax website or by calling 1-866-349-5191. That’s in addition to the one free Equifax report (plus your Experian and TransUnion reports) you can get at AnnualCreditReport.com.
Facts discussed in the show can be found:
https://www.consumer.ftc.gov/articles/0155-free-credit-reports
https://www.finra.org/investors/personal-finance/how-your-credit-score-impacts-your-financial-future
Calls and emails:
- taxes
- credit score
- balance transfers
- credit repair
- student loans
See acast.com/privacy for privacy and opt-out information.
We covered a lot of material on this broadcast!
Where does $100,000 in retirement savings last the longest? Mississippi https://money.yahoo.com/retirement-savings-states-165907606.html
Powerball and Mega Millions lottery tickets go on sale Thursday, February 20th 2020 in Mississippi.
https://www.mslotteryhome.com/
We did an episode about the lottery in Mississippi (link to come)
and an episode about winning the lottery (link to come)
Our recent show about getting your taxes done early (link to come)
What TO BUY in February:
- tvs and electronic
- furniture and appliances
- winter apparel and gear
- tax software
- jewelry
- chocolate and other valentine's merchandise including flowers
What NOT TO BUY in February:
- spring clothes
- traditional valentine gifts
- gym memberships
- travel - exception cruises
- luggage
Our experts from New Perspectives discusses with host, Kevin Farrell, the SECURE Act.
Increased the required minimum distribution age
Increased the maximum contribution age
No more stretch IRAs
Annuities in 401(k) plans
Birth or adoption of a child
Student loan debt
Multiple employer plans for small businesses
Encouraging auto-enrollment in retirement plans by employers
https://waysandmeans.house.gov/sites/democrats.waysandmeans.house.gov/files/documents/SECURE%20Act%20section%20by%20section.pdf
January is Financial Wellness Month, Get Organized Month, and Tax Identity Theft Week - January 27 - February 2, 2020
Internal Revenue Service announced last week that the official opening day of the 2020 tax season for individuals will be Jan. 27
Reasons to file tax returns as soon as possible:
- Avoid tax identity theft: Tax Identity Theft Week - January 27 - February 2, 2020.
- This fraud is particularly worrisome because the legitimate taxpayer may have no way of knowing that fraud has been committed. The scam only works for returns that haven't been filed by legitimate consumers, so fraudsters are highly motivated to file as early as possible.
- Ways to prevent Tax Identity Theft:
- File early
- Review your credit reports for suspicious activity
- Protect your personal information – don’t provide a Social Security number at businesses; ask if another form of ID is acceptable
- Check your Social Security earnings statement to see if anyone is using your number
- Install antivirus software on your computers
- Change your passwords on online accounts regularly
More reasons to file early:
- Get your refund faster:
- If you e-file and direct deposit – you could receive your refund in 1 to 3 weeks.
- Paper file, direct deposit – 3 weeks
- E-file, paper check – one month
- Paper file, paper check – 2 months
- If you claimed either the earned income tax credit or the Additional Child Tax Credit, law requires the IRS to hold these returns’ refunds until February 15.
- Extra time to pay your taxes: You have until April 15 to pay your tax bill. If you know you owe you’ll have more time to save up.
- Get filing responsibility out of the way. According to a recent TaxSlayer survey, a majority of taxpayers (52%) are stressed over filing their taxes. Any time you face an unpleasant task, it’s best to get it out of the way as soon as possible.
- Early filers face less competition for access to their tax professional. Some tax pros will charge more to complete your taxes as the filing deadline approaches.
How you can get your taxes filed electronically for free?
the IRS announced it has signed a new agreement with companies that electronically prepare free returns for eligible taxpayers
- This year, taxpayers with adjusted gross incomes of $69,000 or less can use free commercial software by going to IRS.gov/freefile. Free File opened Jan. 10, although taxpayers won’t actually be able to file their returns until the start of the tax season – January 27th.
- Before settling on one company, check to see if you can also file your state return. Some companies will prepare your state return and e-file it free through partnerships with participating state programs.
- Mississippi Department of Revenue’s webpage with the free or low coast electronic filing partners: https://www.dor.ms.gov/Individual/Pages/e-file-Program.aspx
National Consumer League - Tax ID Theft Information https://www.fraud.org/tax_id_theft
See acast.com/privacy for privacy and opt-out information.
Is your IRA
made up of CDs, LLCs,
or invested in the NASDAQ?
Do you pay PMI
on your FHA loan?
What do all these acronyms mean? Our CFAs
talk about some of these questions and take your personal finance calls.
Calls:
- What affect do recent events have on oil company stock prices?
- How much of one company's stock to hold in your portfolio?
- When to take retirement account required minimum distributions (RMD) in light of the SECURE Act (Setting Every Community Up for Retirement Enhancement)
- Listener wants to decide when to retire and how to change their investment strategy
- What's an Index Fund?
Guest, Ray Higgins - Director of PERS This podcast has information about PERS for retirees, those close to retirement, and those employees still working with retirement in the future.
You could read the Public Employee Retirement System of Mississippi handbook, or listen to MPB’s Money Talks broadcast and podcast with the director of PERS, Ray Higgins. You’ll get a good understanding of how PERS benefits state workers and retirees.
Contact PERS at their statewide number: 1-800-444-7377 or email them at their email address: customerservice@pers.ms.gov
Website: pers.ms.gov
Department of Finance and Administration for Mississippi: Health Insurance for Retirees http://knowyourbenefits.dfa.ms.gov/
How do our financial indices compare to last year or 10 years ago? What do these financial terms mean?* inflation * college loans * stocks * bonds
See acast.com/privacy for privacy and opt-out information.
Our discussion is about charities this week.
Where to Give on this Giving Tuesday.
Everyone hopes that the organization to which you donate money is a reputable group.
In Mississippi, The Charities Division of the Secretary of State’s Office is responsible for the registration and regulation of all charitable organizations and fundraisers who solicit contributions in Mississippi. The division is also responsible for the investigation of charity complaints and/or violations to the State’s charitable laws.
Each year, the Secretary of State’s office kicks off a “Check your Charities” campaign during the holiday season. We encourage Mississippians to check their charities with the Secretary of State’s Office before they donate. Mississippians are some of the most generous in the nation, and the secretary of state’s office urges you to check your charity to ensure your hard earned dollars are wisely spent.
The website for the Secretary of State of Mississippi is sos.ms.gov
They also have links to: American Institute of Philanthropy: Charity Watch, founded 25 years ago as the American Institute of Philanthropy (AIP), is an independent, assertive charity watchdog.
BBB Wise Giving: The BBB Wise Giving Alliance helps donors make informed giving decisions and promotes high standards of conduct among organizations that solicit contributions from the public. It produces reports about national charities, evaluating them against comprehensive Standards for Charity Accountability, and publishes a magazine, the Wise Giving Guide, three times a year.
Charity Navigator: Charity Navigator is an evaluator of charities. In their quest to help donors, their team of professional analysts has examined tens of thousands of non-profit financial documents. They use this knowledge to develop an unbiased, objective, numbers-based rating system to assess over 9,000 of America's best-known and some lesser known, but worthy, charities.
Other links at the Sec. of State’s website: Guide Star, Supporting Charities, IRS, Multi-State Filer Project, NASCO: the National Association of State Charity Officials, and Mississippi Center for Nonprofits
See acast.com/privacy for privacy and opt-out information.
Things to buy in December
- Gift cards
- Christmas decorations (after Christmas)
- Champagne
- Wedding dresses
- Golf clubs
- Cookies: National Cookie Day - Dec. 4
- New cars
One list had TO buy Jewelry, one list said DON’T buy Jewelry.
Things not to buy in December
- High-end electronics
- Exercise equipment
- Bedding
Tips for Black Friday shopping:
· Black Friday Sales have already started. Some of the best discounts are: iPads, Apple Watches, TVs, and headphones, but also air fryers, vacuums, Instant Pots and DNA kits also joining the Black Friday mix.
· Retailers want to entice shoppers into stores in the hopes they will purchase more – so that is why for some of the best deals you do have to go in person.
· Black Friday isn’t just on the Friday after Thanksgiving. Many retailers are starting their Black Friday sales earlier and earlier with some offering steep discounts as soon as Wednesday.
· Try online first; look for free shipping. Also consider in-store pickup when it’s available.
· Earn cash back: Whether shopping in-store or online, look to cash back through websites that encourage you to scan your receipts.
· Use coupons and rewards programs from stores.
· Don’t forget to mail in your rebates on small appliances.
Check The Odds
You might think they try to keep the odds secret, but they’re actually printed right on the back of every single ticket. You can even ask the cashier at the store to let you know what it says before you purchase. Go with games that have better odds.
The Cheaper The Ticket, The Worse The Odds
Similar to slot machines where you have to play big to win big, lotto’s tend to save the high dollar winnings for those willing to shell out a little extra in order to play.
· Mississippi has 4 scratch off tickets: a $1: ”Three times Lucky” Approximate overall odds - 1:4.75 , 2 at $2: “Happy Holidays Y’all” Approximate overall odds - 1:4.39 and “Triple 7” Approximate overall odds - 1:4.32 , and a $5 “$100,00 Jackpot” Approximate overall odds - 1:3.98
· This means that 1 out of every 3.98 tickets will be a winner.
· It doesn't mean that every fourth ticket in a row wins, and it doesn't mean that in a random sampling of 4 tickets, one will definitely be a winner. It means that in the total number of tickets allotted, in all the stores across the state, that percentage of tickets are winners.
Hold On To Losing Tickets
It’s tempting to toss them away after you’ve been disappointed, but several games (including scratch-offs) hold second-chance lottos where you can send in the dud and still win some cash.
You should also have the cashier scan them in case you overlooked winnings. It might not be the big prize, but you could be in store for at least a little cash to keep you going for the next round.
Set a scratch-off budget and stick with it. Decide how much you can afford to spend on a scratch-offs each month. This absolutely has to be money you can afford to lose, because you will lose money playing the lottery long-term. It's a guarantee.
When you've set a monthly budget, take money for scratch-offs from the leftover cash, not used for rent, groceries, or other necessary expenses. If you've got a fund set aside for fun stuff, you could take it out of there if you enjoy playing scratch-offs.
Check Your State's Website: ms lottery home dot com
You don’t want to buy a ton of cards for a game only to check online and realize the biggest prizes have already been claimed, so make sure to look before even heading out to the store. Ticket will continue to be sold after prize money is given out, until all tickets are sold.
Pick Newer Games First
The website will also let you know when they introduce a new game so you can be first in line to claim all the fresh new prizes. You still have a chance at real money as long as those larger prizes are still in play, which isn’t always the case with older games.
Remember:
"Please play responsibly."
"You must be 21 or older to play."
"Gambling problem? Call 888-777-9696."
See acast.com/privacy for privacy and opt-out information.
Nancy and Ryder talk about financial matters the week before Thanksgiving.
(Dr. Nancy Lottridge-Anderson, President of New Perspectives and Ryder Taff, portfolio manager at New Perspectives. Nancy and Ryder are both Chartered Financial Analysts and Ryder also holds the Certificate in Investment Performance Measurement from the CFA Institute.)
https://www.newper.com/
Our guest: Keith Dean, Board member on the MS State Board of Funeral Service and a Funeral Director in Mississippi with Dean Memorial Funeral Home.
https://www.deanmemorialfuneralhome.com/
Website information with resources: https://funerals.org/ or https://www.nfda.org/
Guests: Sharon Person discussing MPB's Nov. 20th Hiring Event and Adam Todd, Director of the Governor’s Job Fair
Upcoming events:
Forest Area Job Fair 2019
11/7/2019 9:00 AM - 12:00 PM
National Guard Armory 300 Frontage Rd.
Forest, MS
Southwest Regional Workforce Training Center Job Fair Nov. 2019
11/12/2019 9:00 AM - 1:00 PM
Southwest Regional Workforce Training Enter 1146 Horace Holmes Dr.
Summit, MS
American Graduate Job Fair 2019
11/20/2019 9:00 AM - 2:00 PM
Mississippi Public Broadcasting 3825 Ridgewood Rd
Jackson, MS
Meridian Area Job Fair 2020
2/6/2020 9:00 AM - 1:00 PM
Tommy E. Dulaney Center 915 Hwy 19 N
Meridian, MS
Flowood Chamber Job Fair
2/11/2020 10:00 AM - 1:00 PM
The Ivy Venue, 1170 Luckney Road Flowood, Mississippi
Flowood, MS
Governor's Job Fair Network of Mississippi: https://www.jobfairs.ms.gov/Pages/home.aspx
More employment information and assistance at the Mississippi Department of Employment Security http://mdes.ms.gov/win-job-centers/
Listen to a previous Money Talks: Win Jobs Center: http://moneytalks.mpbonline.org/episodes/5cd31f1533f6c1be55607d85
See acast.com/privacy for privacy and opt-out information.
Guest Bridgette Wiggins, Director of the Attorney General’s Consumer Protection Division
Everyone needs to protect their financial interests. Seniors might need a little help. We learn warning signs of Senior Financial Abuse and types of scams that are going round.
Scams on the Office of the Mississippi Attorney General's website: http://www.ago.state.ms.us/victims/scams/
https://www.napsa-now.org/get-informed/exploitation-resources/
http://www.ago.state.ms.us/wp-content/uploads/2014/04/seniorfinancialabusehandbook1.pdf
http://www.ago.state.ms.us/wp-content/uploads/2013/08/seniorfinancialabuseguide.pdf
ATTORNEY GENERAL JIM HOOD WARNS MISSISSIPPIANS OF A RECENT SPOOFING SCAMNovember 20, 2015
Attorney General Jim Hood is warning Mississippians today of a phone scam that challenges even the savviest consumer. “Scammers realize that consumers are much wiser and more likely to reject calls from unfamiliar numbers,” said Attorney General Jim Hood. “They use caller ID spoofing technology to impersonate a known or trusted phone number to trick potential victims into answering the phone.”
Here is how the scam works. The phone rings, and we recognize the number on the Caller ID. The caller id shows that it is a local business, a neighbor down the street, or even the consumer’s own name and number. Because the number is known or familiar, the consumer answers the phone.
“Unfortunately, technology has evolved, and we can no longer fully trust that the number displayed is the number that is actually calling us,” said Attorney General Hood. “Our advice has always been to answer only those calls from known numbers, but that won’t work when the caller identification has been spoofed, or is displaying incorrect information.”
Mississippi joined other states in 2010 to enact the Caller ID Anti-Spoofing Act (2010 Miss. H.B. 872) to regulate and prohibit caller ID spoofing. However, the Fifth Circuit Court of Appeals found that the scammers had a first amendment right to spoof phone numbers and upheld the legality of “non-harmful spoofing” in 2012 when it overturned the state law.
The Attorney General’s Office offers the following information and tips to follow on these types of scams:
- DO NOT answer the phone for a call that shows it is from your own number. That is a sure sign of a scam.
- REMEMBER THAT THE CALLER ID CAN BE MANIPULATED. Don’t completely rely on what appears on the screen. Scammers use technology that lets them display any number or organization’s name on your screen.
- HANG UP as soon as you realize the call is a scam. Even answering simple questions in the affirmative or negative could be used to try to scam you.
- BE SUSPICIOUS of anyone who is vague in identifying themselves on the phone.
- NEVER WIRE OR SEND MONEY in any form to persons or organizations you do not know.
- DON’T CALL THEM BACK. If you receive a voice mail message, do not call the scammer back.
- GUARD YOUR PERSONAL INFORMATION. Do not provide bank account, credit card or Social Security numbers to anyone calling you over the phone. Giving out personal information out could cause you to become a victim of identity theft.
- DON’T BE INTIMIDATED BY THREATS OF ARREST. Scammers may try to intimidate you by threatening to bring in local police or other law-enforcement groups to have you arrested. Don’t believe them. If your physical safety is threatened in any form or fashion, be sure to report this to local authorities.
For more educational information on this and other scams, please visit the Consumer section of the Attorney General’s website www.agjimhood.com. Anyone who suspects they have been a victim of a scam should call the Consumer Protection Division of the Attorney General’s Office for further assistance and guidance at 1-800-281-4418.
Article about call blocking phone apps: https://famisafe.wondershare.com/blocker/best-free-call-blocker-app-for-android.html
See acast.com/privacy for privacy and opt-out information.
Guest, Shawn Mercer - District Manager for the Social Security Administration.
We had MANY listener calls dealing with when to select to draw income; can you draw from a divorced, ex-spouse's record; what if you didn't contribute to SS through your job.
Website: https://www.ssa.gov/
Phone:(800) 772-1213
Friday, October 18, 2019
Let The Sunshine In!
For quite a while, I’ve been interested in solar. Fifteen years ago, when I began investigating, there was no one in Mississippi selling or installing solar systems. It seemed just a pipe dream.
Lately, more and more companies are popping up to provide this service. So I decided it was time to get serious. The other thing that pushed me to pursue this option was the lucrative tax credit offered on a solar installation and the fact that this credit was disappearing at the end of the year.
I had to convince my husband to go down this path. Wouldn’t the panels on the roof of our house detract from its appearance? Would future buyers really care about having solar panels? Did this really make financial sense?https://www.nerdwallet.com/blog/finance/save-money-putting-solar-panels-roof/
We met with two different companies. The first was all sales. There was no schematic showing where the panels would be located. No spreadsheets showing usage and payback period. Just a promise that the sun would provide ALL our electricity, and we would only pay a small connection fee each month. Wow! That sounded great.
Of course, if you install solar panels on your roof, you need to consider the age of the roof. Solar panels are designed to last about 25 years, which matches the age of a new roof. If you put on a new roof 10 years ago, this changes the calculation. Most installers prefer to put their panels on a new roof. So now you’re not just paying for solar panels, you’re paying for a new roof.
Of course, we were told if you couple the two, you may be able to get the tax credit applied to BOTH the panels and the roof. That sounded appealing. What is the tax credit, and when does it expire? It’s 30% of the cost, and it IS a credit, not a deduction. That means a dollar for dollar savings on about a third of the project. To qualify for the year-ending tax credit, I would need to sign up quickly (or so I was told).
A few qualifiers…
You are only supposed to take the credit on roofing for the portion of the roof actually under the panels. And in order to get the full advantage of that credit, you need the income (and the tax associated with it) that is big enough to offset that 30% break. Many retired people don’t have enough tax to pay now to take full advantage. Again, a change in calculus.
The second guy showed up with a laptop full of charts and graphs. He pointed out the direction the house was pointing, how the sun changes during the year, and the many shade trees surrounding our roof. He climbed on the roof with his many gadgets to verify his estimates. Full electricity? Not so much. He expects we could supply about half of our electricity with solar, and this would take many more panels than the first group suggested.
And now we’re confused. I really wanted to go solar. It seems like a great idea. We would be using a renewable resource. If the power company keeps getting rate increases, won’t that eventually pay off?
Turns out our payback period would be about 12 years, under a generous set of estimates. Also, we would have to load up our roof to get the most of the system. My husband is shaking his head now. Ultimately, the overall cost of panels and a new roof was now hitting the $40,000 to $50,000 range. Even with a generous tax credit, the dollars made my head spin.
One caution—many solar companies sell customers on a system by offering financing that matches what you were paying on an electric bill. Sounds good, right? But the rate on those financings is in the 7-8% range—not cheap! Also, what happens if you sell the house before you pay off the loan? Maybe you move, but you still have to pay that monthly bill.
We planned to pay the full bill up front to make this a purely economic decision. The problem we encountered is that our electricity is pretty cheap. The price per kilowatt in our area makes going solar unreasonable. I tried. I really tried, but in the end, it just didn’t make sense.
So we’re not going to spend $40,000 to $50,000 on an environmentally friendly and sustainable source of energy. We’re not going to be the progressive family in the neighborhood doing our part on climate issues. I had to give up my pipe dream.
Instead, I’m going to redo the kitchen.
https://newper.blogspot.com/2019/10/let-sunshine-in.html
See acast.com/privacy for privacy and opt-out information.
Eleanor Laise, Senior Editor from Kiplinger, is our guest expert leading the discussion of Medicare.
Here's the link to a recent article that Ms. Laise wrote: https://www.kiplinger.com/article/retirement/T039-C000-S004-navigate-2020-medicare-changes-open-enrollment.html
We had a lot of websites and phone number given out. Here they are for you to read:
1-800-MEDICARE (1-800-633-4227)
You can also get information on your most recent claims without having to speak to a customer service representative. Please be sure you have your Medicare number available before calling. • Listen to the status of your claims. • Find out your current deductible status. • Listen to your current prescription drug plan enrollment. • Get more help with your Medicare questions. • Order Medicare publications. (Some are available in large print, Spanish, audio-tape, and Braille.) You can hear a recording with answers to frequently asked questions, and can order publications 24 hours a day, 7 days a week. You can talk with a customer service representative 24 hours a day, 7 days a week.
medicare.govThere's a wealth of information on this site.
mymedicare.gov Provide your user name and password or create an account.
1-800-333-4114 or medicarerights.org The Medicare Rights Center is a national, nonprofit consumer service organization that works to ensure access to affordable health care for older adults and people with disabilities through counseling and advocacy, educational programs and public policy initiatives. Counselors are available Monday through Friday, and are happy to answer your questions about insurance choices, Medicare rights and protections, payment denials and appeals, complaints about care or treatment, and Medicare bills.
shiptacenter.orgor 1-877-839-2675 State Health Insurance Assistance Program (SHIP) A state program that gets funding from the federal government to provide free local health coverage counseling to people with Medicare.
benefitscheckup.org The National Council on Aging provides information about Medicine, Health Care, Income Assistance, Food & Nutrition House, Housing & Utilities, Tax Relief, Veteran, Employment, And More. There are over 2,500 benefit programs available nationwide. Find out what benefits may be available in your area.
See acast.com/privacy for privacy and opt-out information.
We’ve gathered together some tips from various articles to discuss Holiday Spending today.
Listen to our experts from New Perspectives https://www.newper.com/ thoughts on these tips:
Stick to your budget:
- Plan how much you’ll spend on gifts, food, drink, and decorations
- Allocate a dollar amount of what you want to spent and who you will shop for. Tally up what you’ve already spent so far if you shop through the year and be aware of what you already bought and what you’ve already spent.
- Make a list of who you need to buy for and what you want to buy. If you’re not sure who will be attending the family dinner, call and ask the hosts or look back at last year’s pictures. Knowing who to buy for will help you avoid buying “stuff” just in case you missed someone.
- Holiday debt can linger for months, straining your household budget and even limiting your ability to save for retirement and other goals
- While planning this year's holidays, start thinking about how you'll save money next year.
How to pay for your gifts:
- Use Cash: it can help you control and understand your spending limits.
- If you want to use a credit card use only one credit card. If you have several, choose the credit card with the lowest interest rate and leave all the others at home. Using only one card also makes it easier to keep track of what you’ve spent. Once you’ve bought for someone, cross them off your list so that you don’t keep buying.
- Avoid signing up for store credit cards: You’re ready to pay – and just as you reach into your wallet the cashier says “would you like to sign up for our store credit card and get an extra 10 percent off?” They’ll offer you 10 percent off that day but charge you 4 percent every other day that you don’t pay the balance.
- Don’t buy gifts for yourself: Twenty-two percent of Americans buy gifts for themselves when they are shopping for others.
- To build your holiday budget, trim discretionary expenses over the next couple of months. Cut back on dining out or going to the movies, or temporarily cancel a couple of monthly subscription services.
Shopping tips:
- Sneak into the Mall - Avoid Busy Times and Impulse Shopping. Pick off-peak times to actually do your shopping. Hitting the stores during the day might save you some time and help you avoid impulse shopping.
- Eat before you go and take a bottle of water along. This will help you from spending extra money.
- Shop online to avoid spontaneous purchases - Buy as many gifts as possible online to avoid the temptation of picking up extra bits in the shops. Retailers are dab hands at enticing shoppers with beautiful Christmas displays.
- Start buying presents now - You still have two (possibly three) pay checks to go until Christmas so start your present-buying now if you can. Buying just one or two gifts this month will take the pressure off mentally and financially. Panic buying is the easiest way to blow the budget!
- Black Friday and Cyber Monday can offer big savings, but you might find better deals at other times. Start checking prices now so you know what's a good deal — and what to skip.
- Being frugal with holiday meal shopping can go far. Let go of some food traditions and focus on what your eaters like. You’ll have less food waste and less money waste.
What to buy:
- Kids - One or two favorite toys is better than a mountain of toys and is less expensive. By buying something they can do or play with right away, they don’t think about how much or how little they got – they’re too busy enjoying their time playing with what they have!
- Spouse - Consider not exchanging expensive gifts with your spouse. Buy a game that the whole family can play together, a DVD for family movie night, and some treats that will become part of what you serve when guests or family stop by.
- Think Free: Save Money With Homemade Gifts. Look at your shopping list and decide if you really need to buy for everyone on the list. You still have time to make some personalized gift certificates for those who would value your time, company or help over a store-bought item. Think about babysitting for new parents, helping an older aunt or uncle around their home, or taking a grandparent out for a drive followed by dinner at your house. Homemade gifts can save money, but they also come from the heart which can put a real twinkle in someone’s eyes.
- Do Secret Santa with family/friends - If you usually buy for all your family and friends, talk to them now about doing Secret Santa. Explain that you’re trying to keep your spending under control this year and that you’d rather buy one person a slightly more expensive present.
https://www.foxbusiness.com/personal-finance/holiday-debt-tips-to-avoid-overspending
https://www.mymoneycoach.ca/blog/paying-for-Christmas-with-credit-avoiding-debt.html
https://www.yourmoney.com/credit-cards-loans/act-now-avoid-christmas-debt-seven-top-tips/
https://abcnews.go.com/Business/wireStory/holiday-savings-build-funds-fast-65876883
See acast.com/privacy for privacy and opt-out information.
Dr. Nancy Lottridge-Anderson, President of New Perspectives and Ryder Taff, portfolio manager at New Perspectives are our expert hosts.
Nancy and Ryder are both Chartered Financial Analysts and Ryder also holds the Certificate in Investment Performance Measurement from the CFA Institute.
We didn't get to many October buys / don't buys due to phone calls. Find that information from these websites:
https://www.nerdwallet.com/blog/shopping/what-to-buy-in-october/
https://www.offers.com/blog/post/what-to-buy-in-october/
https://blackfriday.com/news/what-to-buy-october
Tasks for October? Check out this website for advice: https://www.moolanomy.com/6247/financial-checklist-of-important-tasks/
incharge.org has a calendar of when you should do what each month.
· Reminder: if you filed an extension to file your federal income tax return in April, October 15 is the deadline for extensions.
· October 1 is the starting date for the Free Application for Federal Student Aid, or FAFSA.
Our episode from September 3rd, 2019 featured 529 College Saving Plans http://moneytalks.mpbonline.org/episodes/money-talks-529-savings-plans
Phone call questions dealt with:
401K Rollovers, What do to with funds when you sell your home, Investing, 529s, Adviser's responsibility, Taxes on Social Security.
See acast.com/privacy for privacy and opt-out information.
Our chartered financial advisers,Dr. Nancy Lottridge-Anderson, President of New Perspectives and Ryder Taff, portfolio manager at New Perspectives.demystify this diversification tool.
https://www.investor.gov/introduction-investing/basics/investment-products/mutual-funds-and-exchange-traded-funds-etfs#Fraud
Ryder mentioned Morningstar as an information source https://www.morningstar.com/funds
We used as our guide for today's show: How to Choose the Right Budget System from Nerd Wallet https://www.nerdwallet.com/blog/finance/how-to-build-a-budget/
Examples of 4 types of budgets systems are THE 50/30/20 BUDGET, THE ENVELOPE SYSTEM, PAY YOURSELF FIRST, and THE ZERO-BASED BUDGET
· Automate your savings as much as possible so the money you’ve allocated for a specific purpose gets there with minimal effort on your part. An accountability partner or online support group can help, so that you’re held accountable for choices that blow the budget.
· Revisit your budget as needed. Your income, expenses and priorities will change over time. Adjust your budget accordingly, but always have one.
Our hosts are Dr. Nancy Lottridge-Anderson, President of New Perspectives and Ryder Taff, portfolio manager at New Perspectives. Nancy and Ryder are both Chartered Financial Analysts and Ryder also holds the Certificate in Investment Performance Measurement from the CFA Institute. https://www.newper.com/
FINRA: the Financial Industry Regulatory Authority suggests how to approach setting your goals. https://www.finra.org/investors/personal-finance/set-your-financial-goals
College Savings Calculator: https://tools.finra.org/college_savings/
Retirement Calculator: https://tools.finra.org/retirement_calculator/
Emelia Nordan, The College Savings Director from the State Treasurer’s office takes questions and explains the MPACT and MACS savings plans for school tuition. https://www.treasurerlynnfitch.ms.gov/collegesavingsmississippi/Pages/default.aspx
See acast.com/privacy for privacy and opt-out information.
Do you need to save money on your regular expenses to have money to invest for retirement?
We'll share some money saving tips from AARP's 99 Great Ways to Save https://www.aarp.org/money/budgeting-saving/info-2019/top-ways-to-save.html and our expert, Ryder Taff https://www.newper.com/ will comment.
Reimbursed ATM Fees: Most online banks and some traditional banks will reimburse you for fees incurred when you use another bank's ATM. That can save you an average of $4.68 per transaction.
Hire a Haggler: Not a negotiator? Companies like Billfixers and Billshark will haggle with your cable TV company or other service providers in exchange for a cut of your first year or two of savings. Billfixers says it saves clients $300 a year.
Property Tax Breaks: Many states offer property tax breaks for homeowners over 65, including rebates, caps on assessed value, and tax-rate or assessment freezes. In Mississippi: Persons 65 years or older and persons who are totally disabled, who are otherwise eligible for homestead exemption, are exempt from taxes on the first $75,000 of true value on their home.
Go All In on 401(k)s: One-quarter of the workers employed at companies offering 401(k) plans don't take advantage of the full company match of the first few percent invested in the plans. That means they are missing out on an average of $1,336 in free money annually.
Mortgage Magic: A 30-year $300,000 mortgage at 4 percent costs $1,432 a month. But if you pay $716 every two weeks, you can cut interest payments by $34,000 over the life of the loan.
Credit Card Rewards: Stay on top of your points and use them before they lose value. Don't waste the cash or credits.
Get Savings Matched: Individual development accounts are designed to help people of modest means buy a house or start a business. Some programs provide up to $4 for every $1 you save. Go to ProsperityNow.org/map to find community organizations that administer IDAs. Their website has a number of enterprise development organizations in Mississippi.
Negotiate Bank Fees: Banks now charge fees even for receiving money via wires, something many customers may not realize. Be sure to check your statements, and dispute those fees if you find them — even if you need to speak to a manager. The bank needs your business. A 10-minute call may save you about $25.
Stop Smoking: Nonsmokers, exercisers and people who maintain a healthy weight can get as much as a 50 percent savings on life insurance.
Combine and Save: Companies charge up to 20 percent less if you get home and auto insurance policies from them.
Raise Your Deductible: An increase from $500 to $1,000 can save you up to 25 percent on a homeowner's premium.
See acast.com/privacy for privacy and opt-out information.
Ryder Taff, our investment expert from New Perspectives https://www.newper.com/, suggests reading J.P. Morgan's Guide To Retirment https://am.jpmorgan.com/blob-gim/1383280097558/83456/JP-GTR.pdf
There are a number of retirement calculators available on the internet. Each person’s situation will be different. You will need to enter your current age, income, savings balance and how much you save toward retirement each month. Estimating travel expenses, health care, and if your home is paid for are all factors in deciding how much money you will need to live on during retirement. Vanguard and Nerd Wallet dot com each have a calculator you can play around with, putting in different amounts.
https://www.nerdwallet.com/investing/retirement-calculator https://investor.vanguard.com/retirement/income/investing-in-retirement
See acast.com/privacy for privacy and opt-out information.
Expert Ryder Taff from New Perspectives https://www.newper.com/ and guest host Jay White, from MPB's Everyday Tech http://everydaytech.mpbonline.org/ , update listeners on financial data breaches and hacks.
https://www.ftc.gov/ Federal Trade Commission From their site you can file an Equifax Claim, learn about Annual Credit Reports 1-800-322-8228, and find more information.
· What can you do if you suspect your financial information has been compromised?
Check if your accounts have been affected Accept the breached company's offer(s) to help. If the breached company offers to help repair the damage and protect you for a certain amount of time, unless there have been issues with their offer, take them up on it.
Place a fraud alert. If you suspect fraud, place a fraud alert with each of the credit reporting companies: Equifax, Experian and TransUnion. The alert notifies creditors that you have been a victim of fraud and lets them know to verify that you are actually making new credit requests in your name. Placing a fraud alert does not affect your credit score.
Contact fraud departments. For each business and credit card company where you think an account was opened or charged without your knowledge, contact its fraud department. While you are not responsible for fraudulent charges to an account, you need to report the suspicious activity promptly.
· What is the difference between a credit freeze and a lock?
If you want to stop anyone from opening credit and requesting loans and services in your name without your permission, you can freeze your credit. You will need to request a freeze with each of the three credit reporting companies, which again are Equifax, Experian and TransUnion. To apply for new credit, you need to unfreeze your credit, again, through each of the credit reporting companies. You can either request a temporary lift of the freeze or unfreeze it permanently.
Credit agencies also offer a service called credit “locking,” which offers the same protections as a freeze, but typically cost a monthly fee. It is easier to unlock verses unfreeze your own credit accounts.
· What else can you do if you think your financial information has been stolen?
Create a recovery plan. The Federal Trade Commission has a valuable tool that helps you report identity theft and recover your identity through a personal recovery plan.
· What can you do anytime to keep an eye on your digital credit information?
Monitor your credit reports. You get one free credit report a year from the three major credit bureaus: Equifax, Experian and TransUnion. On your report, look for unusual or unfamiliar activity, such as the appearance of new accounts you didn't open. And watch your credit card accounts and bank statements for unexpected charges and payments.
Sign up for a credit monitoring service. Pick a credit monitoring service that constantly monitors your credit report on major credit bureaus and alerts when it detects unusual activity. To help with the monitoring, you can set fraud alerts that notify you if someone is trying to use your identity to create credit. A credit-reporting service like LifeLock can cost $10 to $30 a month -- or you could use a free service like the one from Credit Karma. Capital One said it will provide free credit monitoring and identity protection to all affected customers.
Credit monitoring only looks for changes on a credit report, indicating that someone is using your personal information to open new accounts in your name. But it does not prevent someone from taking out a loan in your name. That would require a lock or freeze.
· What are some best practices concerning your financial data?
Consumers should never give out personal details over the telephone, even if the caller seems to represent Capital One or the email appears to be from a Capital One address. Consumers need to be careful whenever they are contacted by an unsolicited caller. Hang up and call the number on your card.
Security experts generally recommend never re-using security passwords and say people should use two-factor authentication on their phones, which requires a user to enter a code sent to their phone or email into an app or website in order to log in from a new device or to change a password. They also say those affected by such hacks should freeze their credit report.
Change and strengthen your online logins, passwords and security Q&A. It's important to immediately change your online login information, passwords, and security questions-and-answers for the breached account(s)-along with your other accounts if they have similar passwords and security Q&A-to limit the reach of the hackers' arms.
Filing your taxes early, before a scammer has the opportunity to use your exposed Social Security number to file a fraudulent tax return.
· What’s the difference between a hack and a breach?
A breach is when data is unintentionally left unsecured and vulnerable to hacking, as a result of malicious activity or from negligence. A hack specifically refers to the activities of cyber attackers who purposely compromise IT infrastructure to steal information or to hold systems ransom; that’s what happened with Capital One. If your data was part of a breach, it’s possible it was just left exposed online and was not stolen.
See acast.com/privacy for privacy and opt-out information.
We'd like to help you save on your purchases, save for college, and help you get money for your school.
Segment 1
We’d like to remind folks that Mississippi has a tax free weekend coming up Friday, the 26th and Saturday the 27th. BUT there are some stipulations:
· Sales Tax is not due on the sale of articles of clothing, footwear, or school supplies if the sales price of a single the item is less than One Hundred Dollars
· There are definitions of Clothing, footwear, accessories, and school supplies.
· Layaway sales of eligible items do not qualify for the holiday.
· Sales of eligible items that were placed or ordered by mail, telephone, or the internet are not subject to Sales Tax if the purchaser orders and pays for the items during the Sales Tax Holiday and the items are less than the $100.00 threshold.
· https://www.dor.ms.gov/Business/Documents/2019%20Sales%20Tax%20Holiday.pdf
To maximize the learning experience, involve your kids in the back-to-school shopping process. Together, identify your spending goals and decide where you’ll do your shopping. Discuss a strategy for spending on “extra” things that are not on the shopping list.
SEGMENT 2
_DeSoto County Public Schools: student’s first day August 7th. That’s also the first day for Jackson Public Schools. Harrison County Public Schools start August 8th.
We’ve got some shopping tips for back to school:
· Visit your local brick and mortar retailers. Stores offer competitive bargains versus internet-only retailers. Look for specials and door busters, but try not to let good prices lure you into spending on things you don’t need.
· If your family feels that time is your scarcest resource, searching for deals online may still be your best way to save both time and money.
· Use store coupons and rewards programs. Check your mailbox or inbox for weekly coupons and store websites for printable coupons. These can mean big savings on your more expensive items. You can also sign up for a store loyalty program where you can earn rewards points toward future purchases.
· Consider taking advantage of any pre-packaged, school supplies program offered by your school district. This usually involves paying online for a tailored packet of school supplies that is delivered to the school, ready for use. These programs can offer competitive pricing and save you the time and effort of shopping online or driving to the store.
· Buy used textbooks or download digital textbooks.
· Look around your house before you shop.
SEGMENT 3 The state treasurer’s office’s website has information about saving for college. The state offers prepaid tuition calls MPACT – Mississippi Prepaid Affordable College Tuition. There’s also the savings plan – MACS – Mississippi Affordable College Savings.
MPACT is guaranteed by the State to cover the cost of college and mandatory fees at Mississippi’s public colleges. If a student attends an out-of-state or private school, the plan will pay Mississippi’s average tuition rate. MPACT offers four-year university plans, two-year college plans, as well as combination plans. The plan also offers a variety of payment options to fit your budget.
MACS offers investment options that appeal to all types of investors, from the conservative investor to the aggressive investor.
As 529 plans, both programs offer a state tax deduction as well as tax deferred earnings.
Families who begin planning and saving for college when their children are young have a much better chance of reaching their college savings goals than families who wait until their children are in high school.
https://www.treasurerlynnfitch.ms.gov/collegesavingsmississippi/Pages/default.aspx
Segment 4 There are ways to get free money for your school. To encourage you to show at their stores, retailers have cash back programs for not for profits, like schools.
Target has dropped their program. But Office Depot and Kroger each have ways for you to designate your school so that a portion of your total is donated to that school. https://www.officedepot.com/cm/school-supplies/give-back https://www.kroger.com/topic/kroger-community-rewards-3
Box Tops For Education is a programs where consumers collect and give to the school labels or “box tops” for them to send in for cash. There’s also an app where you can scan your store receipt instead of sending in the top of mac and cheese boxes or soup labels. https://www.boxtops4education.com/
Amazon donates 0.5% of the price of your eligible AmazonSmile purchases to the charitable organization of your choice. Smile.amazon.com
Coca Cola has a website where you SCAN OR ENTER A PRODUCT CODE TO DONATE to your local school
https://us.coca-cola.com/give/schools/
eScrip is an online portal. After you’ve signed up, shop at thousands of eScrip merchants, grocers and drug stores in your town. Your designated school or charity will get a check each month with their percentage of the spending done through that website.
https://www.escrip.com/
See acast.com/privacy for privacy and opt-out information.
Factors to take into consideration when deciding to give someone money:
· Fees, Speed, Sending amount, Where the recipient is located, Security, access to actual cash
https://www.mic.com/articles/192848/4-reasons-to-always-carry-cash
https://www.usbank.com/newsroom/news/digital-payment-platforms-primed-to-topple-cash.html
https://www.cnbc.com/2019/01/15/more-americans-say-they-dont-carry-cash.html
https://www.nerdwallet.com/blog/banking/faq-send-money-individual/
https://www.gobankingrates.com/making-money/business/9-ways-transfer-money-friends-family/
- Cash – easiest and most obvious.
a. About 3 in 10 Americans said they make no purchases with cash in a typical week.
b. In a survey of more than 2,000 Americans, U.S. Bank found that 50 percent of respondents said they carry cash with them less than half of the time they are out.
c. More than 1 in 10 millennials use their digital wallet for every purchase.
d. Adults with an annual household income of over $75,000 were more than twice as likely as those making less than $30,000 to say they do not make any purchases using cash in a typical week.
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Bank Transfer Banks electronically transfer money via ACH. Although some charge fees for a bank transfer, many banks let you transfer money for free to other accounts. Sending a wire transfer through your bank might be the best way to send a large amount quickly. Generally $2,000 to $10,000 per transfer, and delivery can take multiple days.
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Online Bill Payment Although online bill payment is geared toward recurring payments, like monthly utility bills, it also works for one-time payments. Your bank will outline how to send money through its online bill payment system; the process typically involves logging onto the bank website, filling out the amount of money you wish to send and the recipient’s information, and authorizing the payment to be mailed out or transferred electronically.
Transfers from banks to banks:
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Zelle Account holders at banks that are part of the clearXchange network can take advantage of the new Zelle app, which allows you to to securely send money to others by using your bank’s mobile app. With Zelle, users just need a mobile phone number or an email address to send money to their intended recipient. No account information is shared when you send money; the program will only use your email or mobile phone number to send or receive money to or from your bank account.
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Popmoney Popmoney offers one of the easiest ways to send money via mobile devices or email if you have an account at a participating bank. You can send money for free if a Popmoney user sends you a request. Otherwise, it’s only 95 cents if you initiate the transfer.
Non-bank transfers:
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Walmart-2-Walmart: Walmart is cheaper than traditional money transfer companies, such as Western Union and MoneyGram. You can send to one of the thousands of U.S. Walmart stores, where a recipient can pick up the money within minutes. The maximum you can send is $2,500, and costs can reach up to $16.
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Person to Person apps - limit how much you can transfer. Examples are Square cash, Venmo – owned by PayPal, Facebook Messenger, Google Wallet, Dwolla
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International money transfers options: When you make a transfer abroad, you generally encounter two costs: the upfront fee and the foreign exchange margin, or the markup on the exchange rate financial institutions use when transferring money among themselves. Consider both fees to find the best deal.
a. TransferWise or OFX for free services
b. Xoom, a PayPal division and MoneyGram are fast options
c. Western Union The biggest money transfer company worldwide, Western Union also has a sizable range of transfer options. On the provider’s price estimator tool online, you’ll see almost a dozen combinations of sending channels, payment methods and delivery options. You can send money from the Western Union website or its mobile app, and you can use a bank account, debit card or credit card — or send from a nearby agent location using cash. The transfer giant’s physical network covers over 200 countries and territories and more than half a million locations globally.
See acast.com/privacy for privacy and opt-out information.
Guest Richard Courtney of Courtney Elder Law Associates, a division of Frascogna Courtney, PLLC is the guest.
To sign up for an account: mississippiable.com or call 1-888-609-3469
ABLE accounts are savings accounts for individuals with disabilities which will not affect their public benefits. These accounts can be used for daily transactions and/or long-term savings. Income earned in the accounts is not taxed if spent on qualified disability-related expenses. Contributions can be made to an account by anyone and may qualify for a state tax deduction.
The Mississippi Department of Rehabilitation Services has more information: https://www.mdrs.ms.gov/Pages/able-act.aspx
Additional information( videos and access to Richard Courtney's Essential Planning Guide for Special Needs Children & Adults) can be found on Mr. Courtney's website: elderlawms.org Phone number 601-987-3000
How do you get started with a brokerage account?
When do you need a stock broker? What's the difference between and adviser and a broker? What's a cryptocurrency? What's an ETF?
These are the topics our financial expert Ryder Taff discussed on this broadcast.
FINRA: Financial Industry Regulatory authority www.finra.org
What should you buy and what should you stay away from this month? How do you find cheap gas?
https://www.dealnews.com/features/discounts/months/June/ suggests: Spring clothes, family movies, lingerie, gym memberships, local fruit and veggies BUT NOT Amazon products, laptops, grills, or patio furniture.
Ryder Taff and Nancy Lottreidge-Anderson took calls concerning medical bills, rolling over pensions, car buying, long-term care insurance and nursing home insurance.
Guest: Adam Black, mortgage broker from Renasant Bank https://ablack-renasantbank.mortgagewebcenter.com/
The show discussed current interest rates, costs to refinance, and how to decide if you would benefit from refinancing your mortgage. Did you know most mortgages are originated by online, non depository lenders?
Calls talked about home equity loans, reverse mortgages, and cash out mortgages.
We would like to remind you: when disasters strike our state you can tune in to MPB for statewide coverage:
Biloxi at 90.3; Bude at 88.9;
Jackson at 91.3; Meridian at 88.1;
Greenwood at 90.9; Starkville at 89.9
Booneville at 89.5; Oxford at 90.3
- The Atlantic Hurricane season, which affects Mississippi and all of the Gulf Coast began on June 1st and runs through November 30th. The Mississippi Emergency Management Agency suggests that in addition to:
- Flashlight and battery-powered radio with additional batteries.
- Canned and non-perishable food.
- Bottled water.
- Toiletry items.
- Pet food and pet supplies.
- Medicine and prescription medication.
You need Copies of important family papers and documents and CASH. Money Talks suggests you print the FEMA Emergency Financial First Aid Kit and fill out the worksheets so you’re ready for an evacuation or a disaster. https://www.fema.gov/media-library-data/1524144185649-5dd9736e7ff89b5997182396f4e13fee/Emergency_Financial_First_Aid_Kit_(EFFAK)_signed_04.09.18_508.pdf
The Federal Emergency Management Agency suggests 4 simple steps to financial preparedness
- Assess and compile: gather your important document and contacts.
- Review your insurance policies and financial paperwork to be sure that they are still accurate and current.
- Safeguard your paper and electronic copies of your files.
- Update or revisit your financial first aid kit often, especially when you have life changes.
Having Household information with you during a disaster can help you to:
- Prove the identity of all household members
- Maintain contact with your extended family
- Maintain contact with your employer
- Apply for FEMA disaster assistance.
Some of the household identification you need to gather include:
- Copies of driver’s license
- Birth certificates, adoption papers, child custody documents
- Marriage or divorce documents
- Military and pet records
Another section of the Emergency Financial First Aid Kit we’re discussing today is the Financial and Legal Documentation part. This includes information about:
- Housing payments
- Utility or debt payments
- Lists of banks, retirement accounts
- Insurance policies
- Frequent flier or reward accounts
- Powers of attorney or will / trust info
They have a section for Household contacts.
The kit has suggestions for protecting your identity, keeping your electronic records safe.
Their tips on passwords and PINS include:
- Select something that is memorable but not that is public information about yourself
- Don’t use the same password for more than one account
- NEVER give out your password or PIN for any reason, no matter whom the person is or claims to be.
http://Ready.gov is a website that can help you prepare for different types of emergencies. The FEMA website has information about: Thunderstorms & Lightning, Extreme Heat, Power Outages, an Active Shooter, and how to Get Involved with your community.
There is a FEMA app
We’re talking about being financially prepared in the event of a disaster, but the Mississippi Emergency Recovery Agency has information about preparing for Hurricanes, Tornadoes, Earthquakes, Radiological, Floods, Winter Weather, and Disaster Kits at http://msema.org
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We’ve got some suggestions on how to travel with your money concerning safety, convenience, and fees.
- Traveler’s Cheques
- Credit Cards
- ATM Cards
- Cash
- Exchange Rates
- Behavior tips
Ryder Taff from New Perspectives, gives expert advice. https://www.newper.com/
How do you know you need a new mattress? How do you choose one?
Our guest, Horace McMillon from Miskelly's Furnature will guide us through how to tell when it's time for a new mattress, what are our options, and how to choose a mattress.
https://www.consumerreports.org/mattresses/buy-a-better-mattress/
https://brandongaille.com/31-mattress-industry-statistics-and-trends/
We let the listeners decide what to talk about on this Open Topic day. The results: savings bonds, 401 K contributions, what to do with your cash, and credit card debt. We also suggested what to buy in May and what gifts a new graduate might like.
Savings Bonds information: https://www.treasurydirect.gov/
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You've got 11 months before the next tax day. What can you do to make it easier on yourself?
How long do you need to keep what paper? It's time for Financial Spring Cleaning. Listen to the show to learn what you should do about your retirement accounts, insurance, beneficiary information, debts, and automated payments.
It's time to evaluate your tax withholding, charitable giving, and scheduled medical procedures. Keep good records for yourself and your family for emergencies, disasters, or in case of death.
- Keep Sales Receipts until warranty expires or can no longer return or exchange
- What to keep for 1 month: ATM Printouts (When you balance your checkbook each month throw out the ATM receipts)
- What to keep for 1 year:
- Paycheck Stubs
- Utility Bills
- Cancelled Checks
- Credit Card Receipts
- Bank Statements
- Quarterly Investment Statements
- What to keep for 3 years
- Income Tax Returns (Please keep in mind that you can be audited by the IRS for no reason up to three years after you filed a tax return. If you omit 25% of your gross income that goes up to 6 years and if you don't file a tax return at all, there is no statute of limitations.)
- Medical Bills and Cancelled Insurance Policies
- Records of Selling a House
- Records of Selling a Stock
- Receipts, Cancelled Checks and other Documents that Support Income or a Deduction on your Tax Return
- Annual Investment Statement
- What to keep for 7 years: Records of Satisfied Loans
- What to hold while active:
- Contracts
- Insurance Documents
- Stock Certificates
- Property Records
- Stock Records
- Records of Pensions and Retirement Plans
- Property Tax Records Disputed Bills
- Home Improvement Records
- Keep Forever
- Marriage Licenses
- Birth Certificates
- Wills
- Adoption Papers
- Death Certificates
- Records of Paid Mortgages
*These documents should be kept in a very safe place, like a safety deposit box.
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Do you have a part time gig? Do you have many part time gigs as your only source of income?
We have some helpful tips for those who are looking to increase their income and some cautions for those who aren't considered "employees".
Remember: if you aren't an employee, you probably aren't having Social Security, State and Federal Taxes with held from your payment. You are responsible for paying those amounts in each quarter.
There are a few tests that must be passed to determine if a worker is an employee or if they are an independent contractor: https://www.dol.gov/newsroom/releases/whd/whd20190429
https://www.thebalancecareers.com/15-side-jobs-to-make-some-extra-money-4074574 has a list of 15 Side Jobs to Make Some Extra Money and web links to get you started:
-
Ride Share/Delivery Driver
-
Household Helper/Personal Assistant
-
Care Giver
-
Pet Sitter or Dog Walker
-
Customer Service Representative
-
Get a Freelance Gig
-
Rent Your Extra Space
-
Sell Your Stuff
-
Get Some Micro Jobs
-
Participate in Research Studies or Focus Group
-
Organizer/Mover
-
Party Planner
-
Work for a Caterer
-
Tutoring
-
Work at a Market or Festival
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Today's show was listener driven. Callers wanted to talk about Social Security and Student Loans.
So that's what we did!
Our experts are Dr. Nancy Lottridge-Anderson, President of New Perspectives and Ryder Taff, portfolio manager at New Perspectives. Nancy and Ryder are both Chartered Financial Analysts and Ryder also holds the Certificate in Investment Performance Measurement from the CFA Institute. https://www.newper.com/
How should an investor evaluate a stock? Our financial advisers give some tips and take personal finance questions on the show.
Our experts are Dr Nancy Lottridge Anderson, President of New Perspectives and Ryder Taff, Portfolio Manager at New Perspectives. https://www.newper.com/
Seven things an investor should consider when picking stocks:
- Earnings growth
- Stability
- Relative strength in industry
- Debt-equity ratio
- Price-earnings ratio
- Management
- Dividends
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We're talking Individual Retirement Accounts on this episode of Money Talks with hosts Nancy Lottridge-Anderson and Ryder Taff from New Perspectives https://www.newper.com/* The difference between an Traditional IRA, a Roth IRA, a Simple IRA * Rules concerning contributions * Rules concerning distributions
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This was an Open Topic day with a few tips to help your clothing budget.
Questions anwered:
- Roth IRAs for tuition payments
- IRA contribution caps
- Saving for retirement vs cash in the bank
- 403B and Lifestyle accounts
- Banking interest rates
- IRA withdrawals and charity contributions
- Medicare plans
Clothing buying tips:
- Shop off season but NOT in April or October
- Items may go on sale after 6 weeks in the store
- Shop thrift stores
- Be careful at outlet stores - factory line: made for outlet sales NOT regular merchandise
- Treat clothing shopping like grocery shopping - make a list
- When shopping online "abandon" your cart. The site may send you a discount code to get you to come back and make a purchase
- Avoid dry-clean only clothes to save money
- Take care of your clothing so they last longer
- Buy classic clothes they stay in style
- Pay in cash and ask for a discount
- Learn the price codes: https://lifehacker.com/know-the-secret-price-codes-at-major-retailers-to-save-921445013
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Guests Marcia Reed and David Johnson from Bank Plus join financial adviser Ryder Taff to talk about establishing a banking relationship. Credit Plus https://www.bankplus.net/Personal/CreditPlus/CreditPlus/
Want to access your free annual credit report? Get one free each year from each of the three credit reporting agancies at https://www.ftc.gov/faq/consumer-protection/get-my-free-credit-report
36 Best New Bank Account Promotions & Offers – March 2019 https://www.moneycrashers.com/best-new-bank-account-promotions-offers/
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Jay White, host, and Shawn Mercer, District Manager with the Social Security Administration, spend the entire hour taking listener questions only about Social Security matters.
You can find many answers to your Social Security, disability, and Medicare questions at http://ssa.gov
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Guest Roddy Merritt gives us inside information on financing a car purchase, cautions us on buying too much vehicle; relays the benefits of a Certified PreOwned car.
Roddy produces a car buying podcast: The Smart Car Buyer https://itunes.apple.com/us/podcast/the-smart-car-buyer/id1449100874?mt=2&ign-mpt=uo%3D4 for Apple and for Google Podcasts https://www.google.com/podcasts?feed=aHR0cHM6Ly9hbmNob3IuZm0vcy84NjY0MDc0L3BvZGNhc3QvcnNz Roddy aslo has a YouTube Channel: https://www.youtube.com/channel/UCE1rg1w3QdMLnosCx-pl5sQ/featured
A helpful website: https://www.edmunds.com/car-buying/
Roddy Merritt was a recent guest on MPB's Auto Correct where he spoke about choosing a car to purchase http://www.mpbonline.org/blogs/auto-correct/auto-correct-choosing-a-ride/
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Could an executive search professional be a good resource for you to advance in your industry? Our guest, Jack Farrell managing director of Jack Farrell and Associates, explains the relationship between a job candidate, a recruiter, and hiring company. http://jackfarrell.com/site/
This information packed episode discusses estabishing a relationship with a headhunter, what the search professional can do for a candidate, ways to become noticed in your industry, and tips for a successful job search.
Helpful websites: https://www.linkedin.com/ https://www.indeed.com/ https://www.glassdoor.com/index.htm
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This Open Topic day had calls about saving on your utility bills and emails about stock splits and finding tax information concerning a company in bankruptcy.
Nancy mentioned MarketWatch's tweet about budgeting: https://twitter.com/MarketWatch/status/1096990188864241666
- set goals for paying down debt, building an emergency fund, saving for retirment
- calcualte net income
- after needs are met, pay towards goals, THEN wants.
Southern Pine Electric has provided a list of 10 Easy Ways to Lower Your Power Bill
- Turn Off The Lights: Mom was right. Turn off the lights when you’re not in the room. Even energy-efficient LED and florescent lights. Every little bit helps.
- Turn Off Ceiling Fans: Ceiling fans only make us feel cooler because they move air across our skin. If you’re not in the room, you’re wasting money if it’s on.
- Avoid Space Heaters: Space heaters aren’t meant to heat a whole room or run for very long. More often than not, it’s less expensive to run an energy-efficient home heating system instead.
- Line Dry Clothing: Instead of drying clothes in an electric dryer, hand them on a line and let the sunshine do the work. It’s free.
- Open Blinds on Cold Days: Open blinds during the day to let in extra warmth from sunlight. But shut them at night to keep your warm air in.
- Close Blinds on Hot Days: Shut your blinds during the day. That blocks out extra heat from sunlight, so your home stays cooler longer.
- Kill the Vampires: Anything plugged in keeps sucking electricity even when you aren’t using it. To kill these “vampire electronics” unplug anything you aren’t using : a phone charger, a microwave, a hairdryer. You get the idea.
- Close Doors & Windows: when your heater or a/c unit is running, your home should be sealed. The more inside air you lose, the higher your bill well be.
- Seal Up Cracks: Even with doors and windows closed, air can still escape through cracks, costing you money. The solution? A $3 tube of caulk and some inexpensive weather stripping.
- Set Your Thermostat: When it’s worm out, set your thermostat to 78 degrees. When it’s cold, 68 degrees.
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Not as many people will be "celebrating" Valentine's Day this year but spending for the holiday continues to rise. We have projections for who is buying what for whom on February 14th from the National Retail Federation, Finder.com, and Statista
Who is getting a gift? Ranked by average dollar amount projected to spend: Wife, Kids, Myself, Girlfriend, Friends, Husband, Secret, Other family members, Boyfriend, Pet cat, Pet dog.
2019 Average expected spend: Men - $229.54 Women - $97.77
Gifts of experience such as tickets to an event or a trip to a spa are wanted by 40% and planned to be given by 25%.
https://nrf.com/insights/holiday-and-seasonal-trends/valentines-day
Where's My Refund website from the IRS: https://www.irs.gov/refunds What you'll need: Social security number or ITIN, Your filing status, Your exact refund amount or for mobile users download the app.
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Whether you're celebrating 2019 or the Chinese New Year, here are some resolutions to Get Your Finances in Shape.
Resolution 1: Create a budget for lifeResolution 2: Manage your debtResolution 3: Optimize your portfolioResolution 4: Prepare for the unexpectedResolution 5: Protect your estateCalls discussed: paying off your martgage (is it good; its it bad); choosing a professional for help; reverse mortgages; loans, stockholder's meetings; retirment advice.
Financial Indurstry Regulatory Authority Broker Check: https://brokercheck.finra.org/
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Many Mississippians were out of school or off work and were able to call in for this broadcast of Money Talks, with Nancy Anderson and Java Chatman.
Discussed in this episode: hosing sales plunge, college savings, increased standard deduction, and required minimum distributions among others.
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If you haven't been saving enough for retirement, this show has some ideas to help you catch up. Ryder Taff from New Perspectives http://newper.com and host Java Chatman discuss ways to build up your retirement savings.
Retirment Savings (how much do you need) = Time (how long to you have to contribute) x Risk (how aggressive can you afford to be) x Amount (how much can you put in each month)
Tax questions? Look on the IRS's website http://irs.gov
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To start your year, we want to help you take a look at your financial status. How do you compare to other Americans? What are your goals for improving?
Here's a Make a Budget Wooksheet from https://www.consumer.gov/content/make-budget-worksheet
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Do you or someone you know need help planning, preparing, or paying for education after high school? Our guest for this show is Stephen Brown from Get 2 College. The not for profit organization provides free counseling services and supports high school counselors throughout the state in helping students get to college and be successful there.
https://get2college.org/
Mississippi Gulf Coast:715 Cox Avenue, Ocean Springs, MS 39564, 228.875.4441, gulfcoast@get2college.org
Metro Jackson: 2600 Lakeland Terrace, Jackson, MS 39216, 601.321.5533, jackson@get2college.org
North Mississippi: 5699 Getwell Road, Building H, Suite 3, Southaven, MS 38672, 662.349.2789, nms@get2college.org
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Kevin Farrell and Ryder Taff discuss some cost cutting tips today. Everyone needs a reminder of ways to save some money. Each of these tips could save you $1000 over the coming year. Cut the cord Switch your cell phone plan Rethink your remodel Get a roommate Get a gig with Postmates Get a gig with Uber Get a high-deductible plan Open and fund an HSA Eat at home Buy the store brand Just say no to impulse buys Use Mint Book holiday flights in advance Drive instead of flying
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Money Talks "talks" about money in the news: stocks, oil prices, jobs, no cash accepted, bitcoin, year end money decisions.
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There are lots of ways to give money: cash, gift cards, gelt, collectible currency, stock, tips. We'll discuss what you need to know this Hanukkah, Christmas, Kwanzaa, end of year season.
A listener recomended the Early Learning in Mississippi Collaborative. The Early Collaborative Act of 2013 provides funding to local communities to establish, expand, and support successful early childhood education and development services. http://www.mississippifirst.org/education-policy/pre-kindergarten/early-learning-mississippi/
U. S. Mint collectables https://catalog.usmint.gov/shop/gift-ideas.html
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Experts Nancy and Ryder from New Perspectives https://www.newper.com/ , and host Kevin discuss why we give, where we give, and what we give to charities.
The Annual Report on Charitable Giving by the Secretary of State's office is on their website: http://sos.ms.gov along with links to the American Institue of Philanthropy, Charity Navigator, Guide Star and other websites that can give you information about recognized charities in Mississippi.
Ryder mentioned the Mississippi Public Service Commission is where you go to register a residential or cellular phone number for the Do Not Call List http://www.psc.state.ms.us/
Ryder's 5 steps for setting up a Donor Advised Fund:
- Open an account online
- Fund the account with cash or stock
- Invest the funds within the account
- Direct to which charity the proceeds should be donated
- Designate a beneficiary charity or administrator for after you are gone.
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Tips on the best practices for holiday shopping from host Kevin Farrell and answers to your personal finance questions from expert Nancy Lottridge-Anderson. https://www.newper.com/people
- Start early tracking prices
- Know sale prices before you head to the stores
- Use price and coupon tools
- Use loyalty programs
- Ask friends to help
- Budget your money
- Ask about return policy
https://www.consumerreports.org/shopping-retail/top-10-black-friday-shopping-tips/
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Financial Adviser, Ryder Taff, takes personal fiance questions and discusses different ways to stretch your retirement funds. https://www.newper.com/people1. Make a plan2. Work a Little Longer3. Is an annuity an option?4. Traditional pension plan or cash balance plan5. Treasury Inflation-Protected Securities6. investing in equities to manage inflation risk7. Protect Against Long-Term-Care Costs8. Use your Home Equity:
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Millennials are earning $10,000 less than their parents' generation did at the same age. The average student debt for a millennial is double that of the previous generation. Ryder Taff gives advice and takes questions about millennials and their money plus other personal finance questions.
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Get Covered Mississippi! representatives, Michael and Lottie Minor, were guests on Money Talks. The Navigators for http://healthcare.gov explained how to sign up beginning November 1st, 2018. http://www.getcoveredms.org/
Marketplace Application Checklist 2018 https://marketplace.cms.gov/outreach-and-education/marketplace-application-checklist.pdf
MS Affordable Care Act Enrollment Assisters by County http://www.getcoveredms.org/yahoo_site_admin/assets/docs/Walk_In_Locations_by_County_2018-19.301210333.pdf
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We love our pets but they cost a lot! Here's some idea of the costs associated with our furry friends.
- Aquition fees: adoption or breeder costs
- First time costs
- spay / neutering
- initial exams
- collar and leashes
- litter box
- scrating post
- crate
- dog training
- fenced in backyard
- Annual costs
- vaccines
- flea control
- heartworm provention
- dental care
- litter
- toys and treats
- health insurance
- grooming
- pet sitting / kennel services
For those who have lottery fever: our August 29th, 2017 gave some advice on how to handle your windfall http://www.mpbonline.org/blogs/money-talks/2017/08/29/money-talks-lottery-advice/
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Travel Consultant, Kathy Young from McGehee Cruise and Vacation, gives us tips about getting our money's worth from a cruise. http://mcgeheecruise.com/
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Stephanie Bullock Project Coordinator for Complete 2 Compete,explains about the state wide initiative designed to help Mississippi adults, who have earned college credit but do not have a degree, better their lives by completing a degree program.
Complete 2 Compete website: http://www.msc2c.org/ phone number: (833) C2C - 4EDU or (833) 222 - 4338
Lenders often use credit scores to help decide if they will extend credit to consumers. We talk about what does and doesn't affect your credit score.
10 Credit Score Myths and Truths Behind Them was our guide for this show. https://www.msn.com/en-us/money/credit/10-credit-score-myths-and-the-truths-behind-them/ss-BBMDIAM
The 3 credit reporting agencies each have websites with consumer information about credit scores:
https://www.equifax.com/personal/education/credit/score/
https://www.experian.com/blogs/ask-experian/
https://www.transunion.com/credit-score
The 2 companies that calculate your credit score are:
FICO https://www.fico.com/
VantageScore https://www.vantagescore.com/
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District Manager, Shawn Mercer answers questions about Social Security.https://www.ssa.gov/
- living overseas
- life expectancy
- worked overseas
- civil service and disability
- survivor benefits among half siblings
- earned income while drawing
- changing your mind about drawing
- and more!
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Here are some suggestions to consider when you inherit or leave financial assets.
Inheritance:
- Think before you spend
- Pay off debts, don't incur them
- Make investing a priority
- Splurge thoughtfully
- Leave something for your heirs - or charity
- Don't rush to switch financial advisors
Passing along assets
- Non-probate assets
- Inter vivos gifts
- Trust
- Will
- Intestate succession
Tips on how you could cut your cell phone costs.
- Switch to a no-contract plan.
- Look to prepaid carriers.
- Keep your phone longer.
- Use Wi-Fi
- Cut the Insurance
- Negotiate
- Look at your current data usage
- Limit background data.
- Cut Out the Stuff You Don’t Use
- Sign up for automated payments and paperless billing.
- Be careful when making international calls.
- Add lines
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What services does YOUR broker provide? What IS a broker? (What is ticker tape?)
Kiplinger has a list of The Most-Overlooked Broker Perks https://www.kiplinger.com/slideshow/investing/T038-S002-most-overlooked-broker-perks/index.html
- Income Estimators
- FreeFunds
- Rock-Bottom Commissions
- Cutting-Edge Platforms
- Sign-Up Bonuses
- Credit Card Rewards
- Free ATMs
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Our guest, Matt Ribe from the National Foundation for Credit Counseling, talks about Student Loans. This show will benefit those with debt, those who have family with debt, those who might marry someone with debt, and anyone with kids who may incur debt in the future.
National Foundation for Credit Couseling https://www.nfcc.org/
Special NFCC website for Student Loans https://www.studentloanhelp.org/
Chartered Financial Analysts: https://www.cfainstitute.org/
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Our guests are from the US Department of Agriculture, Rural Development division - committed to helping improve the economy and quality of life in rural America. State Director, John Rounsaville and Housing Programs Director Johnny Jones provided information about the loans and grants availalbe to Mississippiand and the services and projects they impliment to serve Mississippi.
https://www.rd.usda.gov/ms
With our guest Robert Dozier, Executive Director of the Mississippi Independent Pharmacist Association, we’ll be suggesting different methods to save money on prescription medications. Some of our tips may just be a change in the way you pay for your prescriptions other methods require you to speak with your doctor and pharmacist to determine what is right for you.
Tips gathered from Consumer Reports May 2018 Issue concerns prescription drug prices. https://www.consumerreports.org/drug-prices/shop-around-for-better-drug-prices/
- Check different pharmacies: locally owned, chain and mail order. The cost of the same prescription drug can vary by hundreds of dollars at different pharmacies, even within the same town.
- You can sometimes save money by not using your insurance but by paying cash. Ask your pharmacist how much you would pay if you didn’t use insurance
- Look for coupon online. To see whether a drugmaker offers discounts for an expensive medication you take, check its website or go to the government's list of discount drug programs. We’ll have that website on our website: https://www.medicare.gov/pharmaceutical-assistance-program/
- You may have to ask pharmacists some direct questions. That’s because they’re sometimes bound by “gag clauses” in contracts with insurers that prohibit them from suggesting cheaper alternatives without first being directly asked by a consumer.
- Ask your doctor whether you need a drug in the first place. You might not. In an April 2017 nationally representative Consumer Reports survey of more than 1,000 adults who take prescription drugs, 70 percent of those who asked their doctor if they could cut down on their drugs were able to eliminate at least one.
- Ask your doctor whether a related but less expensive drug is an option. If a drug is necessary, ask how much it will cost.
- A more recent Consumer Reports survey found that most doctors don’t regularly talk about drug costs with patients. So you might need to take the lead. When you do, ask whether a less costly drug might work as well. For example, generic drugs have the same active ingredients as brand-name ones, they're regulated in the same way by the Food and Drug Administration, and they cost 80 to 85 percent less.
- Some drugs, prescribed so infrequently that when their patent expires, no company applies to the FDA to make a low-cost generic version. But a few years ago some drug companies started seeing a business opportunity in these overlooked drugs and began purchasing the rights to them—then jacking up the prices.
- Look into 90-day prescriptions. That's especially true for medication to treat chronic conditions such as high blood pressure and diabetes. Larger numbers of pill reduce how often you need to cover co-pays if you use insurance.
- Ask your healthcare provider whether an older drug would work just as well. Drugmakers often tweak older drugs, then apply for a new patent, allowing them to charge more for the “improved” product. But those changes are often minor—a slightly larger dose, or time-released—and the new drugs aren’t much better than the original..
- Another option for people with high-deductible plans is to look into health savings accounts, or HSAs. They allow people with high-deductible plans to spend up to $6,900 a year in tax-exempt dollars on out-of-pocket medical expenses.
- Compare plans before you enroll in Medicare. When you first sign up near your 65th birthday or during open enrollment in the fall, use Medicare's plan-finder tool or call 800-MEDICARE to see how well different plans cover the drugs you take and whether you’re likely to go over $3,750 in drug costs.
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We've got personal finance habits everyone should follow to work toward good financial health
This broadcast goes through a list from Time, online, that has 50 Personal Finance Habits Everyone Should Follow http://time.com/money/collection-post/4023439/personal-finance-habits/ Our hosts discuss some of them and their importance.
Previous broadcasts discussing persoanl finance habits:
http://www.mpbonline.org/blogs/money-talks/2018/05/29/money-talks-50-habits/
http://www.mpbonline.org/blogs/money-talks/2018/04/17/money-talks-open-topic-april/
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Communications Manager for the ride hailing company Lyft was our guest on Money Talks. Lyft provides employment to independent contractors and convienient rides within a designated area. https://www.lyft.com/
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Our guest, Adam Todd, Governor's Job Fair Director gives tips and dates for Job Fairs in Mississippi. Governor's Job Fair Network of Mississippi: http://www.jobfairs.ms.gov/Pages/home.aspx
- Vicksburg Area Job Fair 2018 August 7th, 2018 9am - 1pm Vicksburg Convention Center, Vicksburg
- Mid-South Area Job Fair 218 August 16th, 2018 9am - 1pm Brown Baptist Church Family Life Center 980 Stateline Rd. E, Southaven
- Greenwood Leflore Area Job Fair 2018 August 28th, 2018 9am - 1pm Leflore County Center 200 Mississippi Hwy 7, Greenwood
Listen to a previous Money Talks: Win Jobs Center http://www.mpbonline.org/blogs/money-talks/2018/05/01/money-talks-win-jobs-centers/
More employment information and assistance at the Mississippi Department of Employment Security http://mdes.ms.gov/win-job-centers/
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Our financial experts give their input concerning managing a loved one's money.
Additional information: https://www.aarp.org/caregiving/financial-legal/info-2017/managing-someone-elses-money.html?intcmp=AE-CAR-LEG-R2-C1
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Our host, Kevin Farrell, and our financial expert, Ryder Taff, take personal finance calls and discuss : Fourteen Retirement Mistakes You Will Regret Forever from Kiplinger dot com https://www.msn.com/en-us/money/retirement/14-retirement-mistakes-you-will-regret-forever/ss-AAySerT?li=BBnbfcN
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Our guest Bruce McClary, with National Foundation for Credit Counseling answers questions about credit scores and debt Their website has information about buying a home, make a budgets, and an online financial self-assessment tool: https://www.nfcc.org/
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Guest Jason Hargraves from InsuranceQuotes.com talks about auto and home insurance. What determines your rates? What discounts are available? What can you do to lower your rates? How much coverage should you obtain? https://www.insurancequotes.com/
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Guest Adam Black, mortgage banker with Renassant Bank explained home loans. https://ablack-renasantbank.mortgagewebcenter.com/
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Guest Danny Lee, President of Gulf Coast Association of Realtors discusses shopping for your largest purchase - a home.Buy A Home: Step by Step https://www.houselogic.com/buy/how-to-buy-step-by-step/first-time-home-buying-tips/The Ultimate "I Wanna Buy A House!" Checklist https://static.houselogic.com/content/webfiles/c5b8efec-f322-4402-9ffe-73ffebc36423/HouseLogicThe_Ultimate_I_Wanna_Buy_lmXO9NE.pdf
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Ryder Taff, CFA, CIPM and Portfolio Manager at New Perspectives, Inc talks about bond duration, online trading, margin accounts, and risk.
Financial Industry Regulatory Authority information: https://www.finra.org/investors/advanced-investing
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Time, online, has a list of 50 Personal Finance Habits Everyone Should Follow http://time.com/money/collection-post/4023439/personal-finance-habits/ Our hosts discuss some of them and their importance.
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Guest attorney Richard Courtney discusses elder and disability money issues. http://www.elderlawms.com/richard-a-courtney/
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- Don’t assuming coupons are always money
- Check for coupons and sale items on an app
- Don’t stay loyal to brands
- Don’t ignore expiration dates
- Don’t shop when you're hungry
- Buying pre-made foods may be more expensive
- Trends are a way to sell new items
- Stock up on Sale Items
- Check Unit Prices
- Beware of entrances, the seasonal isle, and the homewares
- Check out the freezer isle for out of season produces
- Bring a list and stick to it
At Kroger, use your SNAP card and receive a Fresh Savings coupon at checkout to save up to $10 on your next purchase of fresh produce. At farmers markets and other select locations, spend up to $20 on SNAP-eligible food and get up to $20 more FREE to spend on fresh produce. Fresh Savings is available in Tennessee and Mississippi. Contact us at freshsavings@aarp.org or 1-800-854-3324. https://endseniorhunger.aarp.org/fresh-savings/
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Get your finances prepared for disasters and emergencies!
2018 Emergency Financial First Aid Kit https://www.fema.gov/media-library-data/1524144185649-5dd9736e7ff89b5997182396f4e13fee/Emergency_Financial_First_Aid_Kit_(EFFAK)_signed_04.09.18_508.pdf
2017 MEMA's Hurricane preparedness guide http://www.msema.org/wp-content/uploads/2012/06/2017-Hurricane-Guide.pdf
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The WIN Job Center and their employment experts are resources that provide job placement assistance, job and skill training, priority services for veterans, career counseling and referral to many other valuable services. Guests:Daphne James and Robert Freeman http://mdes.ms.gov/win-job-centers/
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Guest: Selena Swartzfager, President of the Mississippi Council on Economic education http://mscee.org/
The Treasurer's Education about Money (TEAM)initiative seeks to change Mississippi's financial culture. http://www.treasurerlynnfitch.ms.gov/TEAM/Pages/default.aspx
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Any topic was up for discussion! Retirement and rollovers were popular on this show.
50 Personal Finance Habits Everyone Should Follow http://time.com/money/collection-post/4023439/personal-finance-habits/
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Our regular hosts Kevin Farrell and Ryder Taff were joined by guests from the Veterans Administration.
Skip Soloman: Natchez National Cemetery https://www.cem.va.gov/cems/nchp/natchez.asp
Tammy Fowler: Assistant Director at the Jackson VA Regional Office https://benefits.va.gov/jackson/
Dr. David Walker: Medical Center Director of the G.V. (Sonny) Montgomery VA Medical Center in Jackson https://www.jackson.va.gov/
1600 E. Woodrow Wilson Dr., Jackson MS
My Health E Vet offers you tips and tools to help you partner with your health care team, so together you may work to manage your health http://myheath.va.gov
http://ebenefits.va.gov this site is the result of a collaboration between the Department of Veterans Affairs and the Department of Defense. They sereve Veterans, Service members, Wounded Worriors, their family members, and their authorized caregivers.
National Call Center for Veterans Affairs Benefits and Services (Monday - Friday 8am to 9pm ET) 1-800-827-1000
NATIONAL SUICIDE PREVENTION LIFELINE 1-800-273-8255
Faith-based and Neighborhood Leaders Outreach EventDate & Time: April 24, 2018 | 8:00am - 4:00pm
Location: Jackson Revival Center, 4123 Terry Road, Jackson, MS 39212
Event: This is an opportunity for us to increase community awareness of Mississippi VA’s role in providing services and benefits to our nation’s Veterans. Stephen B. Dillard, Acting Director, VA Center for Faith-Based and Neighborhood Partnerships, and representatives from local and national VA offices will share useful information about benefits, healthcare and burial services.
Free parking is available. For more information, visit https://varoe-jackson.eventbrite.com.
Expected Participants: Veterans, their families, and stakeholders
Veterans Town Hall MeetingDate & Time: Thursday, 04-12-2018 | 9:00am
Location: Biloxi VA Medical Center, (Building 17) 400 Veterans Avenue, Biloxi, MS 39531
Event: VA representatives will be on hand to answer questions.
Expected Participants: Veterans, their families, and stakeholders.
Veterans Outreach EventDate & Time: Thursday, 04/12/2018 | 9:30am-1pm
Location: Chunky River Harley Davidson- 584 Bonita Lakes Drive, Meridian, MS, 39301
Event: VA representatives will be on hand to answer questions.
Expected Participants: Veterans, their families, and stakeholders.
State Employee Health & Wellness FairDate & Time: Thursday, 4/12/2018 | 9:30am-1:00pm
Location: Mississippi National Guard Headquarters - 1410 Riverside Drive, Jackson, MS 39202
Event: VA representatives will be on hand to answer questions.
Expected Participants: Veterans, their families, and stakeholders.
Veterans Town Hall MeetingDate & Time: Tuesday, 04/17/2018 | 10:00am
Location: Washington County Convention Center - 1040 S. Raceway Road, Greenville, MS 38703
Event: VA representatives will be on hand to answer questions.
Expected Participants: Veterans, their families, and stakeholders.
https://benefits.va.gov/rojackson/events.asp
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April is Financial Literacy Month !
Financial expert Ryder Taff explains various investing options.
Our list of types of investments came from the website of the Financial Industry Regulatory Authority
FINRA is dedicated to investor protection and market integrity through effective and efficient regulation of broker-dealers.
http://www.finra.org/investors/types-investments
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Did we answer you personal finance question this week? Listen and hear if we did!
Meet our hosts at their book signing at Lemuria Book Store in Jackson https://www.lemuriabooks.com/PIGGY-Plan-It-p/9781984233646.htm
PIGGY Plan-It: Tuesday, March 27, 2018 | Event with Nancy Lottridge Anderson, Ryder Taff, and Susan F. McAdory
signing 5:00, reading 5:30
Paperback. Signed.
Nancy Lottridge-Anderson, associate professor of finance at Mississippi College and President of New Perspectives and Ryder Taff, portfolio manager at New Perspectives take listener phone calls about Triditional and Roth IRAs. Tax Day is also the deadline to contribute to an IRA for the last calendar year.
See Money Talks blog post from March 19th, 2018 for additional information. http://www.mpbonline.org/blogs/money-talks/2018/03/19/mondy-talks-2018-year-of-the-roth-ira/
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Money Talks takes call on the scams targeting our listeners. If there is one sentence you should memorize regarding how not to become a victim of a scam it is this: “Never wire money to someone you don’t know.” Another good sentence to remember is this: “If it seems too good to be true, it probably is.” Listen to your “inner voice” when it’s telling you to beware, or call a trusted friend or family member to get another perspective before you act.So, if you have concerns about whether something is legitimate or a scam, or you suspect that you have become a victim of a scam, please contact the Consumer Protection Division of the Attorney General’s Office at 601-359-4230 or 1-800-281-4418, if you are in Mississippi.http://www.ago.state.ms.us/victims/scams/MPB's EverydayTech's episode October 4th, 2017 also covered Avoiding Scams: http://www.mpbonline.org/blogs/everyday-tech/2017/10/04/everyday-tech-avoiding-scams/
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Guest Shawn Mercer, District Manager at the Social Security Administration answers listeners questions.
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Hosts nancy Lottridge-Anderson, and Ryder Taff are joined by their co-worker Susan McAdory from New Perspectives to talk with host Kevin Farrell about the invester's guide P.I.G.G.Y. Plan-it Prudent Investors Get Going Young.
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Today's show took various questions about investing. We also heard what are the best buys in February.
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Guest Gary Burnison, author of Lose the Resume, Land the Job joins the show to talk about job hunting. Gary is also the CEO of Korn Ferry, executive recruiting firm. http://www.losetheresume.com
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Our hosts discuss 14 Ways To Save Money on Child Care from care.com https://www.care.com/c/stories/2416/14-ways-to-save-money-on-child-care/
- Figure Out Your Budget
- Sign Up for a Flexible Spending Account
- Apply Your Child Care Tax Credit
- Arrange a "Child Care Share" with Another Family
- Shift Your Schedule
- Talk to HR to Learn Your Benefits
- Use On-Site Child Care at Your Work
- Find an Individual Who Cares For Children in Their Own Home
- Enroll in Day Care
- Hire a Teen for After-School Care
- Host an Au Pair
- Share Cost of A Nanny With Another Family
- Combine Jobs That You May Already Pay For
- Begin Early Looking for Summer or School Year Care
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- Create filing system.
- Budget.
- Deactivate inactive accounts.
- Use credit cards to keep track of spending and get rewards.
- Establish a bill-paying day every week or two.
- Open your mail over the trash can. Throw away junk mail immediately.
- Have a Checklist for Bills You Are Expecting.
- Make a list of all your usernames and passwords.
- Set up automated payments for your regularly scheduled bills.
- Consult with Anyone with Whom You Share Accounts.
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Our financial expert, Ryder Taff, and guest Ronald Morton give an update of the tax law for 2018. http://www.mortonelderlaw.com/about/ronald-c-morton/
Caller Ronda Gooden from AARP Mississippi reminded our listeners that this is the 50th year for AARP Foundation Tax-Aide. Individuals can call 1-888-227-7669 or go online and enter their zip code to find the nearest tax preparation location. The site also lets them know which information to bring. The cites are open February 1 - April 17. https://www.aarp.org/money/taxes/aarp_taxaide/
For a list and explination of some of the tax changes: https://www.fool.com/taxes/2018/01/18/your-complete-guide-to-the-2018-tax-changes.aspx
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Money Talks reflects on 10 years of access to financial advice and what has happened to the US economy in the last 10 years. Ezra Wall, first producer for Money Talks, remissness with first financial expert, Nancy Lottridge-Anderson, on how and why the show was created. Kevin Farrell, host for 9 years, and Ryder Taff in his first year as financial expert for the show also join the celebration.
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Crystal Davis from Airbnb was our guest on Money Talks. Airbnb is a platform for hosts and guest to get together for lodging, dining and experences. https://www.airbnb.com/
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Today's show took calls from listners about personal finance and covered a few topics from Kiplinger's Holiday Disasters: What Does Homeowners Insureance Cover?
https://www.kiplinger.com/slideshow/insurance/T028-S001-holiday-disasters-homeowners-insurance-coverage/index.html
We helped match a caller who was looking to donate land with a not for profit who was interested in receiving the land!
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2018 will be here in a couple weeks and we want it to be your best financial year ever. We have tips on things you can do now to get your financial house in order for a great 2018.
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December 7th is the close of Medicare open enrolment and many seniors have choices to make about their coverage. Bart Astor, author of "AARP Roadmap for the Rest of Your Life" joins the program to help sort thru some of these choices.
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With holiday shopping underway we have some tips to keep you safe this holiday season. Is it a good idea to get the store credit card? Should you make a purchase over wi-fi? How can a get everything on my list without going into debt? We answer these and more of your personal finance questions on this episode of Money Talks.
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Finances are one of the main reasons marriages end in the United States. On today's program, we look at the most common financial pitfalls and mistakes when going thru a divorce. Also, we talk taxes as the new tax reform plan is still under construction in Washington.
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On this Halloween edition of Money Talks, we discuss your personal finance questions about annuities, times shares, and the always frightening "side gig". We also provide some travel tips for the upcoming holiday season.
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It's never too early to plan for retirement. There are so many options and various plans to help fund those golden years and we talk about them on this episode of Money Talks. Also, we reflect on the stock market crash of 1987, Black Monday.
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Credit cards can be a useful tool when used properly but there are many myths that surround credit cards and credit. On this episode of Money Talks, we discuss these myths and how to keep your credit in good standing.
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Paying for college is one of the most challenging tasks for some families. From the traditional high school senior to the non-traditional older adult getting that degree is a worthy goal. But can you fit the bill? Today we talk with a panel of experts on paying for college.
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Nancy Lottridge-Anderson and Ryder Taff answer your personal finance questions and give advice about the recent Equifax breach.
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Joined today by the Secretary of State, Delbert Hosemann and Assitant Secretary of Charities, Tanya Webber questions about protecting yourself from bad charities were answered. What to do if you donated to a fraudulent charity, how to report a charity, and the proper way to set up a charity are a few of the topics discussed.
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Last week credit reporting company Equifax announced that hackers accessed the personal data of 143 million people.Today, we’ll learn how to check to see whose information was compromised: https://www.equifaxsecurity2017.com/
how to place a credit freeze: https://www.consumer.ftc.gov/articles/0497-credit-freeze-faqs
and how to monitor your credit with free credit reports: https://www.consumer.ftc.gov/articles/0155-free-credit-reports
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Mississippians are no strangers to hurricane preparedness. In the face of an emergency, we know to secure our property and stock up on nonperishable food and water. But another important aspect of emergency preparedness is often left undone: financial preparedness. In the aftermath of a hurricane or other emergency, you shouldn't have to worry about searching for account information or retroactively trying to remember the details about all of your possessions. Luckily, emergency financial documents are among the easiest things to prepare, ensuring you have everything you need readily available during an emergency.
Emergency Financial Preparedness from the state of Florida https://www.myfloridacfo.com/Division/Consumers/Storm/documents/EmergencyFinancialPreparednessToolkit.pdf
MEMA Hurricane guide with phone number for Mississippi: http://www.msema.org/wp-content/uploads/2012/06/2017-Hurricane-Guide.pdf
September 2015 Emergency Financial First Aid Kit (EFFAK): Strengthen Your Financial Preparedness for Disasters and Emergencies https://www.fema.gov/media-library-data/1441313659987-38b0760a58131b871d494ddacbf52b6e/EFFAK_2015_508.pdf
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In today’s show we’ll learn msn.com’s advice about what NOT to do if you win the lottery.
Saturday, a hospital worker in Massachusetts won the Powerball. Her prize: $758.7 million. There is an old adage -- no one should ever have to get rich twice. Those who become filthy rich overnight better have a serious plan in place to protect themselves from going broke.
http://www.msn.com/en-us/money/personalfinance/12-things-not-to-do-if-you-win-the-dollar700-million-powerball-prize/ar-AAqiCzT?li=BBnbfcN
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Today our guest, Shawn Mercer, District Manager of the Social Security Administration answers questions about Social Security. Maybe he answered one of yours? Listen to find out.
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Our guest today is Duncan McNicholl who will share his experience of working internationally. If you’re interested in working or volunteering away from the U.S. you’ll need to think about how long you’ll be gone. Why do you want to work overseas? How do you get a VISA to work overseas?
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How much risk are you willing to take in investing your money? Do you want to make sure you don’t even loose a penny? Or are you willing to go big or go home by investing in extra risky but high paying ventures? Today our team of experts discusses risk in investing.
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When you save a little bit here and a little bit there, it can all add up. On today’s show we’ll look at ways to save money on utilities: the electric bill, gas bill, and water bill. We’ve got our suggestions but we’d like to hear your success stories also.
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Money Talks guest is Innovate Mississippi’s CEO, Tony Jeff. This “Shark Tank” organization matches entrepreneurs with investors and mentors to help grow the Mississippi technical economy.
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Kevin Farrell, along with Nancy Lottridge-Anderson, associate professor of finance at Mississippi College and President of New Perspectives and Ryder Taff, portfolio manager at New Perspectives and our guest Matt Jones, Senior Consumer Advice Editor for Edmunds dot com discuss vehicle purchasing.
http://www.edmunds.com/
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On Money Talks we’re discussing 21st century wedding trends and the bills they generate. It's not just you, weddings are more expensive, extravagant. What are some expenses that didn’t exist for weddings 20 years ago? What are some ways to have your cake and eat it to, but less expensively?
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Creating a budget and sticking to it can help you save and reach your short- and long-term financial goals. What do you need know to budget? What are the differences between fixed and flexible expenses? How do I start to make a budget? What if you blow your budget the first month?
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Relationships & money. It’s direly important to the success of a long-term relationship, but something people rarely discuss with others. Should you keep your money separate? Share everything in a joint account? Divide the money (and debt) in to mine, yours, and ours? Also, when and how do you approach the topic with your significant other?
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One of the biggest adjustments in anyone’s life is when they’re fresh in to the world of adulthood. Among those challenges for new adults is managing their finances; especially when leaving for college away from home. When do you start preparing your children for financial independence?
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This morning we’ll discuss some of the “do’s and dont’s” of home buying. What myths have you always heard about buying a home? We’ll discuss dangers that first-time buyers should look to avoid. And, are you always getting a bargain when wading into the foreclosure market?
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With many people getting tax returns back in the near future, Money Talks will help you with ideas to kickstart your retirement fund, your first venture into investing or beginning to save.
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Tax day is behind us but we're not out of the woods yet. Today we explore audits and the myths and truths you need to know.
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This morning we'll give you some tips on how to plan your trip on a budget.
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This morning we’ll discuss some silly or foolish ways you can wreck your credit! Are you thinking about cosigning on a car loan for your child? Do you have a lot of unpaid traffic or parking tickets? Have you let a bill go unpaid for too long?
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This morning’s Money Talks is all about taxes with MARK STEBER, Chief Tax Officer for Jackson Hewitt Tax Service. And we’re going to help you with some last minute tax tips as the April 18th deadline approaches.
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We’re opening up the phone lines and answering your money questions this morning on Money Talks. We’ll also go over some money-saving tips you can use this year.
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This week, We’re talking taxes again. We’ll welcome MARK STEBER, Chief Tax Officer for Jackson Hewitt Tax Service to the program to help you with your tax questions. And will tell you 6 reasons why your refund could possibly be delayed this tax season.
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Happy Valentine’s Day! We’ll talk money management for couples. Who handles the Finances in your household and how do you handle them. We’ll also welcome John Hyland from BlackRock to talk about the buzzword for 2017 investments– Exchange Traded Funds.
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This morning we’ll discuss some tips on how to get a loan. Do you need a loan to start your small business? Is there a new vehicle you’re trying to buy for the family? Or maybe you need a mortgage loan to buy your first home this year?
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This week, tax season’s deadline day is April 18th. So we’re delighted to welcome CPA J.R. Armstrong, Partner at May & Company in Vicksburg to answer any tax questions you have.
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Is one of your new year’s resolutions to get yourself out of debt? This morning we’ll give you some tips to help you make that resolution a reality. Is it smart to get a loan to pay off your debts? Should you enroll in a debt management plan? Should you file for bankruptcy?
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Today, it’s never too early to talk taxes. We’ll try and help you avoid some common mistakes when filing in 2017. We’ll give you the latest financial news and take you calls on any personal finance issues you have.
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Time for us to help you with your personal finance questions. We’ll share the latest financial news that could affect your pocket and take your calls. Plus, we’ll tell you 8 ways to organize your financial life as we begin 2017.
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Time for us to help you with your personal finance questions. We’ll tell you 8 ways to improve your credit score heading into 2017 plus we’ll get your financial resolutions for the New Year.
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Our guest today is Steve Harrison, Executive Director of USAA’s Auto Experience. If you or someone you know is in the market to buy a car, you’re in luck. This morning on Money Talks we’ll discuss the dos and don’ts of car Buying. Looking for a good deal on a trade in? Is your family expanding and you need a bigger vehicle? We’ll help you with all of your car buying questions today.
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It’s Tuesday morning, time for us to help you with your personal finance questions. We’ll tell you the best and worst ways to spend that holiday bonus plus, we’ll go over some holiday tip and gift giving etiquette.
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Time for us to help you with your personal finance questions. We’ll share the latest financial news that could affect your pocket and take your calls. Plus, the top ten charities of 2016 and we’ll tell you how to avoid a charitable scam this time of year.
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Today is an open topic discussion day. But with the holidays and holiday shopping coming ever closer, we want to share some odd ways to earn extra cash. What are some ways you earn extra money? Have you donated your plasma? Do you take surveys for cash? Or maybe you sell things online?
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Today, we’ll take your calls and emails on any personal finance issues you have. We’ll also look at some ideas for reducing the cost of college with our guest Ryder Taft.
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The holiday shopping season is fast approaching. Today will tell you some ways you can prevent identity theft. We'll also take your calls on any personal finance issues you have.
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Today, it’s an open topic day. We’ll take your calls and emails on any personal finance issues you have. We’ll also look at the housing market. Call us with any financial questions you have.
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This week, J.J. Montanaro, a C.F.P. with USAA is our guest. We talk Life insurance and how it effects you. What is it, why do you need it and how much do you need? We’ll also take your calls on any financial question you have.
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Today, we welcome Sean Mercer, Public Affairs Specialist at Social Security Administration to the studio. Sean will answer your questions on the important and complicated world of Social Security.
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Today, it’s an open topic day. We’ll take your calls and emails on any personal finance issues you have. We’ll also look at 22 things you should buy “generic” plus, purchasing airfare with a monthly payment plan? Yep. It’s here. Call us with any financial questions you have.
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Today, we’ll talk bankruptcy with Consumer Protection Attorney Frank H. Coxwell. How does this effect your credit, the ability to get a job or rent an apartment and just are you supposed to pay the costs of filing?
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If it's Tuesday, it's Money Talks. Your calls dominate the show on this open topic Tuesday with Nancy and Chris.
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This week, we’ll talk about your credit. Whether you’re just starting out or nearing retirement, good credit is very important. How can you build good credit? What are some consequences to having bad credit and how can you repair it. What is a credit score and where exactly do credit cards fall in with all this?
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Today, it’s an open topic day. We’ll take your calls and emails on any personal finance issues you have. Plus, is it better to rent or buy? We’ll explore the pros and cons of both.
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This week, we’ll talk money management for couples. Who handles the Finances in your household? Joint or separate bank accounts? Spousal allowances? How do you handle things like gift giving? What are some things you and your family do to ease the tension and stress of managing your budget each month?
See acast.com/privacy for privacy and opt-out information.
Today, it’s an open topic day. We’ll take your calls and emails on any personal finance issues you have.
See acast.com/privacy for privacy and opt-out information.
This morning we’ll take a look at the 10 commandments of getting debt free. Also, we’ll touch on managing your portfolios in the wake of the post- Brexit financial roller coaster. And of course, we’ll take your calls and emails on any personal finance questions you have.
See acast.com/privacy for privacy and opt-out information.
This week, we’ll talk about your credit. Whether you’re just starting out or nearing retirement, good credit is very important. How can you build good credit? What are some consequences to having bad credit and how can you repair it. What is a credit score and where exactly do credit cards fall in with all this?
See acast.com/privacy for privacy and opt-out information.