Archive for the ‘Resources’ Category

Calculating Your Social Security Benefits

A reader of AskTheMoneyCoach.com had a question about their social security benefits. Here is what the person asked:

Q: Where can I go to calculate my future social security benefits?

A: The official website of the U.S. Social Security Administration is the best and easiest resource to calculate your social security benefits. You can find the agency online at http://www.socialsecurity.gov.

Continue reading “Calculating Your Social Security Benefits” »

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Jay-Z Teams Up With Warren Buffett’s “Secret Millionaires Club”

Remember a year ago, when Forbes dubbed Jay-Z a billionaire in the making and highlighted how the rapper met with the legendary investor Warren Buffett and the two found out they had more in common than one might suspect?

Well, apparently the 41-year-old rapper turned entrepreneur and the 81-year old Oracle of Omaha have gotten even closer since then, because now the two famous men are putting their work and reputations into teaching kids about financial literacy.

Buffett is launching the “Secret Millionaires Club, an online animated series for kids that teaches youth good financial habits. This month, October 2011, “Secret Millionaires Club” is coming to television, rolling out in U.S. schools and in after-school curriculum, and is also launching a nationwide business competition for kids between the ages of 7 and 16.

As a way to target kids and impart his immense financial wisdom, Buffett is partnering with children’s network The Hub for a series of half hour specials. And during the first special airing on October 23, none other than an animated Jay-Z makes a special guest appearance.

With the rollout of the “Secret Millionaires Club,” there’s also a “Learn and Earn” promotion, an educational program designed to teach financial education to children wherever they may be. The promotion is sponsored by CreditReport.com and will involve disseminating more than 100,000 educational kits to teachers nationwide starting October 20, the same day the  “Grow Your Own Business Challenge” debuts. The “Challenge” is an online competition designed to stimulate kids’ entrepreneurial ambitions.

To view any of the 26 available webisodes of the “Secret Millionaires Club” go to http://www.smckids.com.

I think it’s great that Buffett and Jay-Z are clearly demonstrating a commitment to educating this country’s youth about personal finances. That’s the only way we’re going to raise a generation of financially savvy and independent citizens who know and appreciate the value of a dollar, respect hard work as a means to earn money, and know how to think and act in financially prudent ways.

As a Money Coach and a parent of three children – who are currently 5, 11 and 14 – I too share a passion for teaching kids about financial responsibility and proper money management. That’s one reason I co-wrote a four-book series on finances for youth between the ages of 5 and 12.

Coincidentally, my book series shares a similar title to Buffett’s work. My multi-cultural book series is called The Millionaire Kids Club, and it emphasizes that we all have choices with how we handle money: namely, you can save it, spend it, invest it or donate it. (Here’s a link to my book series as well as a TV interview I did about the books)

And here’s to teaching our children – as early as possible – smart financial lessons that will hopefully last a lifetime!

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Use The Do Not Call Registry To Stop Telemarketers From Calling You

The Do Not Call Registry

In my book Zero Debt I talk about the benefits of stopping the flood of credit card and promotional offers that fill up your mailbox. There is another source of unwanted and frequent solicitations…your phone.

If you are tired of receiving a flood of phone calls from telemarketers and other pesky sales people constantly harrassing you by calling your phone daily, try adding your phone number(s) to the National Do Not Call Registry.

The Federal government created the The National Do Not Call Registry to offer consumers a simple and easy way to stop most unwanted telemarketing calls. You can add your number to the Registry online or by calling toll-free, 1-888-382-1222 (TTY 1-866-290-4236), from the number you wish to register.

Here is how it works

31 days after you add your phone or cell number to the registry, telemarketers are prohibited from contacting you by phone under federal law. The law is enforced by the FTC, FCC and by the state in which you live.

If you add your phone number to the registry, and are receiving calls from telemarketers after 31 days, you can and should file a complaint. However, you should be aware that calls from the following entities are exempt from the law:

  • Political organizations
  • Charities
  • Telephone surveyors
  • Any company that you have an existing business relationship with (like your bank, insurance company, or even that retailer that you bought something from)
  • Any one that you gave written permission to call you (so be sure to read the fine print before you sign anything)

There are a few special circumstances that pertain to each of the above.

First, if a third-party contacts you on behalf of a charity, you may ask them not to contact you anymore on behalf of that charity.

Second, if you ask a company that you have an existing business relationship with to add you to their “do-not-call” list, they must honor your request.

Third, if someone calls you to ask you to take a survey, but what they are really trying to do is sell you something, then they too must comply if you tell them to remove you from their call list.

According to the FTC, violators can be subject to fines of up to $16,000.

Add your phone number to the National Do Not Call Registry.

Visit the FTC to learn more about the National Do Not Call Registry.

 

 

 

 

 

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What Is The Consumer Financial Protection Bureau (CFPB)

If you’ve ever worried about hidden credit card fees, wondered if your insurance company is being honest about your claim, or have been having a hard time dealing with your mortgage provider, the Consumer Financial Protection Bureau is there to help you.

The Consumer Financial Protection Bureau (CFPB) is designed to protect consumers against many of the financial tricks and traps that are often extended by credit card companies and financial institutions. The CFPB is also responsible for regulating consumer financial service providers, including payday loan providers and online banks.

Here are a few key points that you should know about the CFPB:

  • They maintain a toll-free consumer hotline for complaints.
  • The CFPB monitors the marketplace and reviews business practices.
  • Enforce federal consumer financial laws.
  • Reviews business practices and regulates financial services providers.

The Consumer Finance Protection Bureau website has a wealth of information that every consumer can benefit from. Visit the Consumer Financial Protection Bureau website for more information.

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Disclaimer

All information on this blog is for educational purposes only.  

Lynnette Khalfani-Cox, The Money Coach, is not a certified financial planner, registered investment adviser, or attorney.

If you need specialty financial, investment or legal advice, please consult the appropriate professional.

Per FTC guidelines, this site may accept advertising, affiliate payments or other forms of compensation from companies mentioned.

Details of any products, services, prices or offers highlighted on this site may change, so check with the company or provider for up-to-date terms.