March 2006 Newsletter

Please forward this email to a friend and invite her to join you for the next meeting. (First time participants will receive a packet of personal finance brochures and the person who brings someone new receive their choice of book, magazine or slide calculator so... bring a friend!
News of the month: Utah 's Oldest resident just died at age 110. She was older than the state and spent the last 10 years in a nursing home. How long are you likely to live?
12DailyPro Internet scheme: see topic for April 12 (below)
March 8: Why you need an Individual Retirement Account (IRA).
Will your (or your spouse's) retirement plan from work be enough to live on after you stop working? How long will you live? Fill out the life expectancy calculators in module 1b of Planning for a Secure Retirement: http://www.ces.purdue.edu/retirement/
(The program "20 steps to 7 figures" has been postponed to later in the year.)
FPW meets 12:30-1:30 p.m. in Family Life room 318 on the USU campus. Bring your lunch. The same program is repeated in the evening: 7-8:30 p.m. at the Family Life Center , 493 North 700 East, Logan (at bottom of Old Main Hill).
Websites of the month:
Get a tax credit for improving the energy efficiency of your home; find out about tax credits for hybrid vehicles at: Alliance to Save Energy
http://www.ase.org/content/article/detail/2654
Utah Saves
Check out the website with great ideas and motivational strategies to help you build wealth. http://www.utahsaves.org/
It's tax preparation time.
Since tax law is always changing, I subscribe to the IRS "Tax Tips"email. It's a great resource if you want to be sure to not miss out on legal tax breaks. Today's tip:
"Millions of Americans forfeit critical tax relief each year by failing to claim the Earned Income Tax Credit, a federal tax credit for low-to-moderate income individuals who work. Taxpayers who qualify and claim the credit could owe less federal tax, owe no tax or even receive a refund."
The email provides details on who qualifies. Lots of college graduates are likely to qualify in the year in which they graduate if they only earn "real" money for the half year after May graduation. In the March FPW you will learn about the Savers' Retirement Credit for people earning modest incomes. Again, it's a great deal that's been underutilized and this year (2006) is the last year before it expires.
Upcoming FPW:
April 12: What the market giveth, the crook taketh away: Avoiding investment fraud. Protect yourself and your parents against the top10 investment scams. Find out how to avoid being a victim of the next $50 million scam.
Speaker: Leigh Davis-Schmidt , Utah Division of Securities
Quote from AP article in March 3 Herald Journal:
Thousands of Utahns bilked in Net scam
SALT LAKE CITY (AP) - The number of Utahns saying they were bilked by the 12DailyPro Internet scheme has grown to more than 8,400. It's a classic pyramid scheme. Utah Consumer Protection Director Francine Giani said 12DailyPro's pattern in Utah seemed to wind through the state's typically large, close- knit families. "By and large, it has been family members who have gotten hooked and then got other family members involved."
May 10 : The perfect mutual fund for your Individual Retirement Account (IRA).
My Advanced Family Finance students are doing the research this semester to identify the best diversified, low-cost mutual funds for your IRA. Come take advantage of all their work. Also see the PPT for May 2005 presentation on mutual funds for your IRA.
June 14: What women need to know about Social Security. Speaker: Sandy Hunter, Social Security Administration.
FYI: a great resource:
The Wall Street Journal Sunday in the Sunday Salt Lake Tribune Business Section or read it online: http://online.wsj.com/public/page/sundayjournal.html
Investor Psychology
Dalbar QAIB 2005 highlights
(Quantitative Analysis of Investor Behavior)
http://www.dalbarinc.com/pages/QAIB2005Highlights.pdf
"Investment return is far more dependent on investor behavior than on fund performance. Mutual fund investors who hold their investments are more successful than those that time the market."
Personal Finance Humor:
Read "Parakeet Funerals" (or why certified financial planners are concerned about the low savings rate in America ): http://www.cfp.net/media/release.asp?id=132
The USU Family Life Center , 797-7224, 493 N 700 East (bottom of Old Main Hill), provides financial counseling and occasional workshops. This is the best source for basic money management and getting out of debt. They offer the PowerPay computer debt analysis for free.
Counseling sessions cost $5 for first session with sliding scale charges based on family income and family size for subsequent counseling sessions.
Upcoming events:
Housing and Financial Counseling (USU Family Life Center) workshops:
March 11: Homeownership workshop 8:30-4:30 (registration required)
March 25: Home Smart 10 a.m. to noon
Details and upcoming workshops at: http://www.usu.edu/fchd/hfc_workshops.pdf
It's not to late to participate!
The Good Life: Planning and Preparing for Your Retirement Future
USU Extension Services and USU Community Credit Union are pleased to co-sponsor this financial education series.  Classes and materials are provided at no cost to participants. 
Jeff Salisbury will be speaking on Feb. 22. He is a great speaker (he is a guest speaker for my investing class each year and the students love his presentation). I highly recommend that you attend his session. Be sure to sign up.
Financial Planning for Women March 2006 Newsletter
Please forward this email to a friend and invite her to join you for the next meeting. (First time participants will receive a packet of personal finance brochures and the person who brings someone new receive their choice of book, magazine or slide calculator so... bring a friend!
News of the month: Utah 's Oldest resident just died at age 110. She was older than the state and spent the last 10 years in a nursing home. How long are you likely to live?
12DailyPro Internet scheme: see topic for April 12 (below)
March 8: Why you need an Individual Retirement Account (IRA).
Will your (or your spouse's) retirement plan from work be enough to live on after you stop working? How long will you live? Fill out the life expectancy calculators in module 1b of Planning for a Secure Retirement: http://www.ces.purdue.edu/retirement/
(The program "20 steps to 7 figures" has been postponed to later in the year.)
FPW meets 12:30-1:30 p.m. in Family Life room 318 on the USU campus. Bring your lunch. The same program is repeated in the evening: 7-8:30 p.m. at the Family Life Center , 493 North 700 East, Logan (at bottom of Old Main Hill).
Websites of the month:
Get a tax credit for improving the energy efficiency of your home; find out about tax credits for hybrid vehicles at: Alliance to Save Energy
http://www.ase.org/content/article/detail/2654
Utah Saves
Check out the website with great ideas and motivational strategies to help you build wealth. http://www.utahsaves.org/
It's tax preparation time.
Since tax law is always changing, I subscribe to the IRS "Tax Tips"email. It's a great resource if you want to be sure to not miss out on legal tax breaks. Today's tip:
"Millions of Americans forfeit critical tax relief each year by failing to claim the Earned Income Tax Credit, a federal tax credit for low-to-moderate income individuals who work. Taxpayers who qualify and claim the credit could owe less federal tax, owe no tax or even receive a refund."
The email provides details on who qualifies. Lots of college graduates are likely to qualify in the year in which they graduate if they only earn "real" money for the half year after May graduation. In the March FPW you will learn about the Savers' Retirement Credit for people earning modest incomes. Again, it's a great deal that's been underutilized and this year (2006) is the last year before it expires.
Upcoming FPW:
April 12: What the market giveth, the crook taketh away: Avoiding investment fraud. Protect yourself and your parents against the top10 investment scams. Find out how to avoid being a victim of the next $50 million scam.
Speaker: Leigh Davis-Schmidt , Utah Division of Securities
Quote from AP article in March 3 Herald Journal:
Thousands of Utahns bilked in Net scam
SALT LAKE CITY (AP) - The number of Utahns saying they were bilked by the 12DailyPro Internet scheme has grown to more than 8,400. It's a classic pyramid scheme. Utah Consumer Protection Director Francine Giani said 12DailyPro's pattern in Utah seemed to wind through the state's typically large, close- knit families. "By and large, it has been family members who have gotten hooked and then got other family members involved."
May 10 : The perfect mutual fund for your Individual Retirement Account (IRA).
My Advanced Family Finance students are doing the research this semester to identify the best diversified, low-cost mutual funds for your IRA. Come take advantage of all their work. Also see the PPT for May 2005 presentation on mutual funds for your IRA.
June 14: What women need to know about Social Security. Speaker: Sandy Hunter, Social Security Administration.
FYI: a great resource:
The Wall Street Journal Sunday in the Sunday Salt Lake Tribune Business Section or read it online: http://online.wsj.com/public/page/sundayjournal.html
Investor Psychology
Dalbar QAIB 2005 highlights
(Quantitative Analysis of Investor Behavior)
http://www.dalbarinc.com/pages/QAIB2005Highlights.pdf
"Investment return is far more dependent on investor behavior than on fund performance. Mutual fund investors who hold their investments are more successful than those that time the market."
Personal Finance Humor:
Read "Parakeet Funerals" (or why certified financial planners are concerned about the low savings rate in America ): http://www.cfp.net/media/release.asp?id=132
The USU Family Life Center , 797-7224, 493 N 700 East (bottom of Old Main Hill), provides financial counseling and occasional workshops. This is the best source for basic money management and getting out of debt. They offer the PowerPay computer debt analysis for free.
Counseling sessions cost $5 for first session with sliding scale charges based on family income and family size for subsequent counseling sessions.
Upcoming events:
Housing and Financial Counseling ( USU Family Life Center ) workshops:
March 11: Homeownership workshop 8:30-4:30 (registration required)
March 25: Home Smart 10 a.m. to noon
Details and upcoming workshops at: http://www.usu.edu/fchd/hfc_workshops.pdf
It's not to late to participate!
The Good Life: Planning and Preparing for Your Retirement Future
USU Extension Services and USU Community Credit Union are pleased to co-sponsor this financial education series.  Classes and materials are provided at no cost to participants. 
Jeff Salisbury will be speaking on Feb. 22. He is a great speaker (he is a guest speaker for my investing class each year and the students love his presentation). I highly recommend that you attend his session. Be sure to sign up.
Date Time Subject
Mar 29 7 to 8:30 Needs of the " Sandwich Generation"
Apr 26 7 to 8:30 Protecting Yourself Against ID Theft
May 24 7 to 8:30 Creating a Financial Plan for Retirement
All sessions will be held in Multi-purpose Room: Suite 109 , Cache County Administration Building , 179 North Main , Logan , UT
To register, contact: Adrie Roberts, USU Extension - Cache County , 179 North Main , Suite 111,
Logan , Utah , 84321 .  (435) 752-6263.  adrier@ext.usu.edu
Financial Planning for Women (FPW) is a monthly educational seminar that meets the second Wednesday of each month at two times: 12:30-1:30 p.m. in Family Life room 318 on the USU campus. Bring your lunch. The same program is repeated in the evening: 7-8:30 p.m. at the Family Life Center , 493 North 700 East, Logan (at bottom of Old Main Hill). The longer evening time slot allows for more discussion. Programs are free and registration is not required. Bring a friend! For further information: (435) 797-1569; lown@cc.usu.edu
Thanks to Zions Bank Smart Women grant for funding for FPW.