February 2002 Newsletter

Financial Planning for Women
February 2002 newsletter
A monthly educational seminar designed to empower women, "Financial Planning for Women" is offered the second Wednesday of each month at 12:30-1:30 p.m. (USU Family Life building Rm 318) and 7-8:30 p.m. at the Family Life Center (493 N 700 E).
Facilitator: Dr. Jean Lown, lown@cc.usu.edu; 797-1569
Visit the FPW website for lots more information: http://www.usu.edu/fpw/
2002 FPW Schedule: http://www.usu.edu/fpw/

Feb. 13 Program: Tax Changes Resulting from the 2001 Tax Law
Congress made massive changes in the tax laws to increase the amount one can invest in tax-deferred retirement accounts, raising contribution limits for IRAs, 401(k), and other plans. Plus you will learn about the temporary retirement tax credit of up to 50% of the amount you invest, up to a $1,000 credit on $2,000. If you are behind in investing for your retirement, this program will motivate you to take advantage of the new tax law.
Other changes: increase in child care credit,

Planning Ahead
March 13: The Financial Checkup Workshop
If you would like personal attention and answers to your financial questions this workshop is for you! For the past year The Financial Checkup workbook has been distributed free (courtesy of the Foundation for Financial Planning) at each FPW meeting. Now it is time to fill out those forms and evaluate your financial situation. Bring your filled out TFC forms for the topics of most concern to you to the workshop with your questions and concerns. Family Finance students will work with individuals to answer their questions. $5 donation for AFCPE Conference Student scholarship fund suggested.

Bring someone new to FPW and get your choice of a new personal finance book Money Mastery in Just Minutes a Day or How to Survive in the real World: Financial Independence for the Recent Graduate.

Stop the flow of junk mail and credit card offers & protect your personal financial privacy
Remove your name from mailing & telemarketing lists: http://www.the-dma.org/consumers/consumerassistance.html
If you do not want to receive pre-approved credit offers call (888) 567-8688 to opt-out.

Join a Simplicity Circle
Organizational meeting Sunday evening, Feb. 24 at home of Marianne and Dave Christian. Marianne was FPW speaker in December. Contact: mardave1@msn.com.

Quote of the month:
"If you bought right, sit tight." For those who didn't, "For God's sake, don't stay the course. You don't have to be wrong forever." John Bogle, founder of Vanguard Mutual Fund family, about assessing your 401(k) statement. Quoted in "Investing for Tough Times: Shoring up your 401(k)" in Consumer Reports, March 2002, 36-38. (Recommended reading at your local library)

Book of the month
The Only Investment Guide You'll Ever Need (revised and updated), by Andrew Tobias
He often uses himself as a financial guinea pig. Brash, funny, good stories - and sound advice as well. The million copy best-selling classic sells for $13
A look at the table of contents:
Part 1: Minimal Risk
• If I'm So Smart How Come this Book Won't Make You Rich?
• a Penny Saved Is Two Pennies Earned
• You Can Get by on $165,000 a Year
• Trust No One
• The Case for Cowardice
• Tax Strategies
Part 2: The Stock Market
• Meanwhile, down at the Track
• Choosing (To Ignore) Your Broker
• Hot Tips, Inside Information– and Other Fine Points
• What to Do If You Inherit a Million Dollars
• What to Do Otherwise
Appendix Includes, among Other Topics: Cocktail Party Financial Quips to Help You Feel Smug & Still Not Sure What to Do?

Indexing on a Shoestring: What's Out There for $50 a Month
http://www.indexfunds.com/PFarticles/20000706_cheap_iss_veh_AK.htm
No longer can you use the excuse that you can't invest because you don't have the $1,000 to get started. Five companies enable investors to open an index mutual fund with a $50/month automatic investment plan. The article was posted 7/6/00; since then TIAA-CREF has increased its minimum investment from $25 to $50/month, still a great deal.

Sound Money http://www.soundmoney.org
is a call-in radio program (Sat. 9-10 am 89.5 or 91.5 FM). Each program contains several interviews with special guests who address a wide variety of topics of interest to individual investors and consumers. Upcoming topics:
Kids and Money
February 9, 2002
This week on Sound Money, learn what your kids need to know about money—and how you should tell them. Kiplinger's Janet Bodnar and Certified Financial Planner Ross Levin share ideas on teaching kids the value of money: making it, saving it, and giving it away. Plus Chris Farrell takes your calls.
Investment Clubs
February 16, 2002
There seem to be clubs for everything these days, including investing. In this show, we'll not only talk about how to start an investment club and how to make it fun and successful, we'll also talk to people in an investment club. Plus Money Manager Erica Whittlinger talks to us from the Winter Olympics.
Living WillsFebruary 23, 2002

Resources
Building Wealth: A Beginner's Guide to Securing Your Financial Future
Federal Reserve Bank of Dallas, http://www.dallasfed.org/htm/wealth/index.html
Internet home study courses:
Fundamentals of Financial Planning: http://www.learningforlife.fsu.edu/fp101/
Investing For Your Future Home Study Course: http://www.investing.rutgers.edu
Money101 (25 lessons): http://money.cnn.com/pf/101/
Planning for Financial Independence and a Secure Retirement: http://www.ces.purdue.edu/retirement

The U.S.U. Family Life Center, 493 North 700 East in Logan offers free financial and housing counseling. If you want help getting out of debt or simply organizing your finances and developing a realistic budget (or know someone who can use this help), call 797-7224 for an appointment. The FLC offers first-time homebuyer workshops the last Saturday of each month.
Funding for Financial Planning for Women (copying cost, postage, book purchases, etc.) is made possible by a grant from the Foundation for Financial Planning: http://www.foundation-finplan.org/