Do members of Congress have better retirement benefits than you and I? Absolutely!

Think you have a solid retirement plan? Check out the souped-up retirement benefits for Congress. Thanks to a six-figure salary and a relatively rich federal retirement system, elected officials enjoy benefits that are superior to those of most working Americans.  read more

Todd's Tip of the Day!

 Contribute to a Retirement Plan - 401k or IRA

If you want to secure the golden years of your life, then you need to make contribution to the retirement accounts regularly. You should start contributing to the retirements accounts in your 20’s. This is because you can make maximum contribution to the retirement accounts during this time period. Try to avoid withdrawing money from the retirement accounts even when there is a financial emergency.

Try to accumulate as much money as possible in your retirement account. This will help you meet your expenses post retirement. You can lead a happy financial life without needing financial help from your children or family members.

Gifting a College Education Can Be Tax Free!

Did you know that the IRS allows any relative to give the gift of tuition without subjecting the benefactor to transfer taxes. While the IRS limits other tax-free gifts to $14,000 annually, tuition gifts are limitless when prepaid directly to the school-and they do not count toward the annual gifting total. Even better, tuition gifting can be done without the help of an attorney or complicated tax-work. There are no tax-reporting requirements for this type of gift.  

Todd's Tip of the Day!

Download an application to know how much you're spending and saving.

Download an application in your smartphone so that you can track your expenses, albeit in a fun way. Most of the banks have introduced applications for the customers. Find out what application your bank is offering to you. Download the application and track your accounts without any problem. You can even download a free application in your smartphone so as to break down your expenses without spending extra bucks.

Just make sure you use the application from time to time to track your everyday expenses. This will help you live within your means and determine if you're really spending more than what you can afford to do.

Todd's Tip of the Day!

Tip no 1: Refrain from excessive credit card usage to avoid debt when you're studying at college.

Like everything, credit cards have a bright side and a negative side. The bright side is that you can use credit cards to purchase anything at a moment's notice. The negative side is the fact they can make you a shopaholic. You can end up buying more than what you intended to do. This means, you can get into debt problems quite easily.

You may not be able to survive without credit cards. However, this does not mean that you'll have to be completely depended upon them to make your purchases. Use cash when you need to buy something instead of swapping your credit cards.

Social Security, It's Not All Gloom and Doom

 For July 27 Your Safe Money Show I used some of the content from this article:

http://www.lifehealthpro.com/2013/06/21/social-security-its-not-all-gloom-and-doom

Highlights for Your Safe Money Show Saturday July 27th!

Believe it or not I have some good news in regards to Social Security on this Saturday's Your Safe Money Show and did you know you pay taxes on Social Security benefits? I have ways to help minimize those taxes. I'll be offering The Social Security Decision Report complimentary , it's a great resource for you if you're near retirement.Listen to the show at 7:30 a.m. at BOBFM 106.1, HOPEFM 95.9, WQPM 1300AM, and at 8:30a.m.at KASM 1150AM. Hear the show podcast at http://yoursafemoneyshow.com/

Todd's Tip of the Day!

 Have a clear understanding of  loan repayment terms so that you don't get into unwanted troubles later.

You need to understand the term and conditions of the loan before signing any agreement. Be it a student loan or a personal loan, ask various types of questions to the lender. For instance: how much will you have to pay for the loan. Find out how much you have to pay every month. Make sure you calculate the interest rate. You may have to pay certain fees on the loan. So, it is vital to calculate the amount you have to spend on the fees. This will help you understand if your financial circumstance will really help you afford the loan.

Financial documents to scan in case of a disaster

Most Americans haven't included financial documents in their disaster plan according to the American Red Cross. Scan the paperwork below onto two CDs or thumb drives. Keep one at home and one in a safe-deposit box:
Drivers license, passport.
Health insurance card.
Insurance policies.
Mortgage/loan papers, property deeds. 
Car titles and registration.
Marriage license.
Your will.
Band and brokerage account numbers.
Last year's tax return.
(Money)

Todd's Tips of the Day!

Special edition of Todd's Tip of the Day...here's some great energy saving tips ...check them out!
http://money.usnews.com/money/personal-finance/articles/2013/07/23/10-easy-ways-to-keep-energy-costs-down?src=usn_fb

Just how generous are Detroit's worker pensions for retirees?

http://finance.yahoo.com/news/just-generous-detroits-worker-pensions-101900103.html

This story gives more insight to pensions in Detroit as the city has filed for bankruptcy.

Todd's Tip of the Day!

Give the $70 dollar test to realize the true meaning of needs and wants.

Give yourself $70 dollars for a week and make a pledge to live within this amount. Whenever, you go to a store to buy something, you'll remember your pledge. For instance: you go to a store and fall in a love with a new dress. You check the price tag and find out that the dress is beyond your affordability. You just give up your resolve to purchase the new dress for you need the money to buy food and pay bills. This is the time when you realize the value of every dollar. You understand the true meaning of needs and wants.

Todd's Tip of the Day!

If your spouse was married before, then ask if he/she has made any financial commitment to the ex-spouse.

Ask if your spouse has any financial obligations towards his/her ex-spouse. Find out if your spouse has to pay child support, alimony, or the debt of the ex-spouse. If you forget to ask your spouse, or he/she deliberately hides this fact from you, then there can be financial problems in the future. For instance: the creditor may garnish your joint account after getting permission from the court. This means that both you and your spouse will lose money. Your spouse has past financial obligations but you don't. So, it'll be a mistake to lose money on your part without making any fault.

States Control Your Healthcare & Truths About Retirement

July 20th Your Safe Money Show I talked about two issues one was each state will handle the new Affordable Care Act a little differently and what you should be aware of. The other was four truths about retirement that I hoped would take some of the fear and being overwhelmed out of the equation for you.

http://finance.yahoo.com/news/states-control-health-care-fate-130000232.html

http://www.huffingtonpost.com/suzanna-de-baca/help-im-overwhelmed-planning-for-my-retirement_b_3530758.html

Saturday July 20 Your Safe Money Show Highlights!

Where you live will determine how good or bad your health insurance will be starting Jan. 1st 2014 with the new Affordable Care Act. When you think about retirement planning do you get overwhelmed? If you said yes you're not alone, I have 4 essential things for you to know before you retire.

Todd's Tip of the Day!

Parents, here's three financial skills for your high schoolers: 1.Set your teen up with a checking account, debit card, and budget. When they mess up, resist the urge to bail them out. I know that might seem crazy but it's better to teach them now than when their on their own.2.A good goal is to stash 10% of every allowance, birthday check, etc. You might even sweeten it by matching a percentage of savings.3.Just 9% of college kids pay their credit cards off every month. Help your kid understand the value of being in that minority.

Todd's Tip of the Day!

You're truly independent when there is no debt in your life. So, work hard to pay off your debts.

You can't enjoy your life with a huge amount of credit card debt. It will restrict you from leading an independent life. So, you need to find out ways to make yourself debt free. Figure out your expenses and debt amount. Check out the ways to make additional income. Negotiate with the creditors to reduce interest rates on your loans. If you don't possess good negotiation skills, then it is better to get professional help. The debt consultants can arrange a repayment plan which will be suitable for your financial situation.

Estate Planning Lessons From James Gandolfini

I found this article really hits home to what I talk about on Your Safe Money Show. Planning...when it comes to your finances I know it's something easy to put off but the passing of James Gandolfini can be a wake up call for us all. You don't have to have a lot of money, this story is good for all income levels.

http://money.usnews.com/money/blogs/alpha-consumer/2013/07/16/estate-planning-lessons-from-james-gandolfini?src=usn_fb

Todd's Tip of the Day!

Save enough money before purchasing any luxurious item.

Possessing luxurious items and products has become a symbol of financial status. People love to own bags and clothes of luxury brands. If you wish to buy such a product or item, then start saving money from now onwards. Find out the cost of the item and keep aside a certain amount from your paycheck to buy that product. Other than that, research on the product you want to buy. A lot of websites offer the luxurious items at discounts. You can visit those websites and strike a deal.

Mosquito Facts!

Mosquito's can tell your blood type before they bite and they like type O blood the best.

Beer drinkers beware. Drinking just one can (or bottle) of beer can significantly increase your chance of getting bitten.

When the moon is full there's a 500 times better chance of getting bitten especially between dusk to dawn.

A scientist discovered mosquito's love dirty feet. He sat in a room of mosquito's in his underwear and they went after his feet the most. Once he washed his feet they weren't as interested. (and you think you have a good job).

Pregnant women are bitten twice as often as non-pregnant women.

When you exercise you breath harder and you sweat more mosquito's love that and you'll be bitten 50% more than someone not exercising.

Mosquito's like dark colors so dress in light colors.

Plan Your Retirement Landing

I want your retirement to be everything you want it to be. I really liked these suggestions from Scott Holsopple.

http://money.usnews.com/money/blogs/the-smarter-mutual-fund-investor/2013/06/18/plan-your-retirement-landing

Todd's Tip of the Day!

 Keep Good Records

If you don't keep good records, you're probably not claiming all your allowable income tax deductions and credits. Set up a system now and use it all year. It's much easier than scrambling to find everything at tax time, only to miss items that might have saved you money.

How Boomers Can Keep their Identities Safe

On Your Safe Money Show I want to keep you up to date on new information on Identity Theft, here's what I used in last Saturday's show from July 13th.
http://www.foxbusiness.com/personal-finance/2013/06/27/how-boomers-can-keep-their-identities-safe/

Highlights for Your Safe Money Show July 13.

I want your retirement to be everything YOU want it to be. This Saturday I have 8 ideas that can get you to a great retirement. The over age 50 population is the fastest growing demographic for new internet users and identity thieves target this group for several reasons, find out those reasons and how to protect yourself.Tune into Your Safe Money Show this Saturday morning 7:30 a.m. at BOBFM 106.1, HOPEFM 95.9, WQPM 1300AM, and at KASM 1150AM. 

Article from Inc.

It turns out there's a good reason to work out of a coffee shop other than the free Wi-Fi. A study suggests that moderate ambient noise-70 decibels, like that found in a coffee shop-can boost your ability to come up with creative ideas.The moderate noise distraction may aid in abstract thinking. And now you can get the creativity jolt without the caffeine via Coffitivity, a free online app that serves up an infinite loop of coffee-shop noise.Justine Kauszler spent four days working out of a coffee shop and was astounded at how well his ideas flowed, so he created the app. Coffitivity now gets about 15,000 hits a day.

Todd's Tip of the Day!

Budget
Saving a lot of money is great, but the benefits are eroded or even nullified if it means you have to use high-interest loans to pay your living expenses. Therefore, preparing and working within a budget is essential. Your retirement savings should be counted among your budgeted recurring expenses in order to ensure that your disposable income is calculated accurately. 

Kiplinger's

As a group, seniors age 80 and older have the highest rate of fatal crashes per mile driven-even higher than for teens. But politicians aren't eager to take on seniors by making license renewal more stringent. It's mostly up to families to take action when a loved one is no longer a safe driver. Some resort to disabling the car or hiding the keys, but it's often better to let the state department of motor vehicles make the decision. A report to the DMV (anonymous in some states) may trigger a review of your parent's driving record or an order to retest the driver. Visit SeniorDriving.AAA.com for more info.

Todd's Tip of the Day!

Maximize Your Employment Benefits

Employment benefits like a 401(k) plan, flexible spending accounts, medical and dental insurance, etc., are worth big bucks. Make sure you're maximizing yours and taking advantage of the ones that can save you money by reducing taxes or out-of-pocket expenses.

IRS Mistakenly Posted 100,000 Social Security Numbers To Gov't Website

http://fxn.ws/12hZDDi

Kiplinger's Personal Finance

It's no secret why insurance companies charge high rates for teens. Teens are inexperienced and may have a propensity to flout speed limits, drive under the influence, and be distracted by friends, phones and sound systems. A 16-year-old girl is 3 times as likely to have an accident as a 25-year-old. A 16-year-old boy is 5 times more likely to have a wreak. The best car choice for teens? They won't like it: A big, dull, slightly beaten up sedan.You can also help by giving your child more experience and by limiting risky behavior. And you might try a driving contract like the one at parentingteendrivers.com.

Todd's Tip of the Day!

Have a Savings Plan

You've heard it before: Pay yourself first! If you wait until you've met all your other financial obligations before seeing what's left over for saving, chances are you'll never have a healthy savings account or investments. Resolve to set aside a minimum of 5% to 10% of your salary for savings BEFORE you start paying your bills. Better yet, have money automatically deducted from your paycheck and deposited into a separate account.

Todd's Tip of the Day!

Teach children about money matters from childhood so that they understand the importance of money and spend it wisely.

Your Safe Money Show highlights for July 6

We all have regrets. On this show I have stories of regrets baby boomers have in regards to financial decisions they've made.I offer some options so you won't make some of these missteps. I also look at mixed economic news on housing and unemployment. Tune in Saturday at 7:30 a.m. at BOB FM 106.1, HOPE FM 95.9, and WQPM AM 1300 and at 8:30 a.m. at KASM AM 1150. KASM streams the show live at their website. Go to our website yoursafemoneyshow.com to hear past shows podcast. Have a great weekend!

Todd's Tip of the Day

Before you buy something new, sell something old.Helps with clutter and helps off-set the cost of the new item.