April 2001 Newsletter

April 11: Lesson 3 Understanding Social Security
The discussion of Social Security will be more meaningful if you have a copy of your SS benefits statement with you. If you have not received a statement within the past couple of years, order one (for yourself and for your spouse): http://www.ssa.gov/mystatement/ Then click on: "request a Social Security Statement" in bottom left corner. (This may take 3-6 weeks to arrive). Another option: Calculate your own benefits: http://www.ssa.gov/planners/calculators.htm

Where can you find money to pay down your debts or invest? The average US taxpayer received a refund of $1827. This is $150 per month. Instead of giving the IRS an interest free loan, contact your payroll department and adjust your withholding; AT THE SAME TIME, commit yourself to putting the extra income to good use– Pay an extra $160 (or your amount) on your credit card debt every month or set up an automatic transfer from your checking account to a money market mutual fund to build up your emergency fund or a stock mutual fund. That $1927 is almost the maximum yearly IRA contribution!
Do you itemize your deduction? Fully 7 of 10 taxpayers do not; instead they claim the standard deduction ($7350/married couple in 2000; $ per single taxpayer). Typically what makes it worthwhile to itemize is owning a home and deducting the mortgage interest and property taxes. If you are not familiar with potential deductions...
For 2001, track your potential deductible expenses and maybe your can benefit by itemizing and lowering your federal income taxes.

Sound Money, broadcast Saturdays 9-10 am on 91.5 FM
http://www.soundmoney.org/
April 7 Venture capital for women
April 14 Your Money Manager: financial planner Erica Whittlinger
April 21 Socially Responsible Investing
April 28 Taking money Out (distributions from IRAs and other qualified retirement plans)

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May 9: Couples Communication About Money with Barbara Kerkmann, B.S. in Family Finance, M.S. in Marriage and Family Therapy.
Note different locations! 12:30 in TSC 335 and 7 p.m. at the USU Community Credit Union