Money Talks

Whether you’re 25, 55, or 75, maybe you’re dreaming of retirement. Today, we’ve got some tips geared for the 25 year-olds but everyone else will find some great information. Are you on fire for retirement? We're talking F. I. R. E.? We learn what that is and take your personal finance questions.

Financial Independence, Retire Early from the 1992 book "Your Money or Your Life"

• save up to 70% of annual income, invest it with the help of a professional
• goal of retiring in 40s to either do nothing or travel or be selective in their job
• once savings reaches 30 times annual expenses you could retire

Calls:

• saving advice
• saving advice
• email - bond interest
• savings bonds

Other resources:

https://www.mrmoneymustache.com/2012/01/13/the-shockingly-simple-math-behind-early-retirement/)

https://www.ramseysolutions.com/retirement/what-is-the-fire-movement#:~:text=Movement%3F-,F.I.R.E.,Be%20confident%20about%20your%20retirement.

https://www.investopedia.com/terms/f/financial-independence-retire-early-fire.asp

https://www.investopedia.com/articles/retirement/08/retiring-early-retirement.asp

https://www.mrmoneymustache.com/2012/01/13/the-shockingly-simple-math-behind-early-retirement/

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Who needs a job? Who needs a better job? Who has no idea what they want to do so they need help figuring out what kind of job would suit them? If you answered yes to any of these – have we got a broadcast for you. Our guests are Daphne James from WIN Job Centers and Adam Todd from the Governor’s Job Fair Network.

https://mdes.ms.gov/

WIN Job Centers https://mdes.ms.gov/win-job-centers/

Governor's Job Fairs https://www.jobfairs.ms.gov/

Don't forget to register to attend! https://wings.mdes.ms.gov/wings/spring/self-service/job-fair/job-fair-registration;jsessionid=429BB51DD0F68C55BA00AAA1AA69A2B2?execution=e1s1

Greenwood Leflore Job Fair:

Begins: 9:00 am, May 25, 2022

Ends: 1:00 pm, May 25, 2022

Leflore County Civic Center

200 Mississippi Hwy 7

Greenwood, MS

East Mississippi Job Fair

Begins: 9:00 am, June 7, 2022

Ends: 1:00 pm, June 7, 2022

The Communiversity 2.0

7003 S Frontage Road

Columbus, MS

I-59 Job Fair

Begins: 9:00 am, June 16, 2022

Ends: 1:00 pm, June 16, 2022

Sawmill Square Mall - inside the old JCPenney

910 Sawmill Road

Laurel, MS

Mississippi Re-Entry Job Fair 2022

When: 06/22/2022 : 9:00 AM - 1:00 PM

Where: MS Agriculture & Forestry Museum - Sparkman Building, 1150 Lakeland, Drive

Jackson, Mississippi

Smart Start https://skillupmississippi.com/smart-start/

Fidelity Bonding Program https://mdes.ms.gov/i-need-a-job/job-searching-resources/fidelity-bonding-program/

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We always talk about what’s in the news at the top of the show but today we’ll discuss what’s in the news the whole show. It’s an Open Topic Day. Our experts take any personal finance question you’d like. They can answer a question about a news story you heard or maybe you’d like a financial term explained better. Ask us anything – within reason.

• Gold standard
• Twitter and the collective wisdom of the market
• Housing – feds supporting more housing
• https://www.ssa.gov/
• Financial terms
• Comforting words during volatility
• Empowering States to Protect Seniors
• Cryptocurrencies
• Investing in electricity
• Student loans
• Money: The True Story of a Made-Up Thing by Jacob Goldstein
• https://www.federalreserve.gov/faqs/how-long-is-the-life-span-of-us-paper-money.htm

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Do you have a “My Social Security Account”? After listening to this show, you’ll learn why you need one. Our guest is District Manager for Social Security, Shawn Mercer who is a fantastic resource Money Talks has from time to time to answer your questions personally. Ryder is in the studio taking your personal finance questions.

https://www.ssa.gov/

https://www.medicaid.gov/

National Social Security Phone Number: 1-800-772-1213

Questions:

• International access
• Deceased spouse
• Turning 65
• “State Buy In” https://secure.ssa.gov/poms.nsf/lnx/0600815042
• Universal life insurance
• Reported income

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If you aren’t married to the other adult in your home, how do you handle your household finances? The relationships in an unmarried home could be Cohabitation, Roommates, or Intergenerational. Do you discuss who pays the bills? How should expenses be handled? These are some of the questions Money Talks address today in addition to taking your personal finance questions.

• Discuss finances
• Nonmarital Agreement
• Join Purchase Agreement
• Have a will

Questions:

• I Bonds and interest rates (Previous MT show: http://moneytalks.mpbonline.org/episodes/money-talks-open-topic-august
• Robo Investments
• I Bonds

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We throw around financial terms on Money Talks. Maybe you’re familiar with them or maybe you’re not. We’ll talk today about some vocabulary that’s good to know. We also answer questions that relate to your personal finances.

In the news:

• streaming
• twitter

Terms:

• APR
• Blue Book Value
• COBRA
• DRIP
• escrow
• Joint tenancy with right of survivorship verses tenancy in common
• Liability
• Load
• Nonmarital agreement
• Term life insurance verses whole life insurance

An official website of the United States government is consumer finance.gov. It’s part of the Consumer Financial Protection Bureau. Click on their Consumer Education tab to learn more about money topics. https://www.consumerfinance.gov/

According to Merriam Webster.com, the term “check” which refers to something that is used for verifying accuracy, authenticity, correctness began as a detachable stub – like a claim check. “Check” was first applied to the detachable stub in the early 18th century and then to the bank draft—the written order directing a bank to pay money as instructed. https://www.merriam-webster.com/words-at-play/financial-word-origins/capital

From Merriam Webster.com :The term as applied to the stock market derives from the actual use of blue chips in another type of game of stakes—poker. This quote from an 1874 edition of The San Francisco Chronicle nicely connects the two:

If times are good and the market flourishing, the game may be played with ‘blue chips,’ as a gambler would say, the very high-priced stocks being the favorites.

Blue chips in poker have the highest value, with red and white chips as lower denominations.

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One way to increase your earning potential may be attending a Community College. Who are they for? Those right out of college? Those who may have started but not finished a degree? Someone wanting to retrain for a new career? We’ll learn today with our guest Kell Smith, Interim-Executive Director for the Mississippi Community College Board.

(601) 432-6518 https://www.mccb.edu/

[email protected]

Accelerate Mississippi: https://acceleratems.org/

If you cheer for an educational institution because of their mascots, we’d like you to know the Mississippi Community Colleges have 2 Tigers, 2 Eagles, 2 Bulldogs, a Lion a Bobcat and a Wildcat; a Bear and a Wolfpack; plus Indians, Rangers, Trojans, and Warriors.

Some of Mississippi Community Colleges famous students?

• American singer-songwriter, Jimmy Buffett
• engineer and former NASA astronaut Fred Haise
• world record holder for long jump and Olympian Brittney Reese
• award winning immunologist Max Dale Cooper
• United States federal judge The Honorable Michael P. Mills
• and financial expert Dr. Nancy Lottridge-Anderson

On Thursday, April 14th MPB's Auto Correct had the owner of Classic Restoration on the show. Mike Martin talked about how he attended Holmes Community College to learn skills that allowed him to turn his car hobby into a business. http://autocorrect.mpbonline.org/episodes/auto-correct-classics

Questions:

• positive experience with community colleges
• faculty
• one day training

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Are you ready to travel? With restrictions and procedures changing back and forth you might need a little assistance. Need help selecting and booking a vacation? Would you like to experience a city like a local? We’ll learn about different services travel professionals can offer with our guest Jane Halbert Jones from More Than A Tourist. Ryder is on hand to answer your personal finance questions.

https://www.morethanatourist.net/ Affiliate of Magnolia Travel Group

https://www.magnoliatravelgroup.com/

Magnolia Travel Group is a concierge travel agency offering our clients custom & unforgettable travel experiences.

https://www.instagram.com/morethanatourist/

As of 04/12/2022: According to the TSA: At the CDC’s recommendation, TSA will extend the security directive for mask use on public transportation and transportation hubs through April 18th. During that time, CDC will work with government agencies to help inform a revised policy framework for when, and under what circumstances, masks should be required in the public transportation corridor. We will communicate any updates publicly if and/or when they change.

https://www.tsa.gov/news/press/statements/2022/03/10/statement-regarding-face-mask-use-public-transportation

As of 04/12/2022: The CDC has a page for travel notices. CDC recommends that travelers avoid all nonessential travel to Venezuela. Everyone should be fully vaccinated against polio before visiting a long list of countries in Africa, Eastern Europe, and Asia.

https://wwwnc.cdc.gov/travel/notices

https://www.mississippimarkers.com/ is one website that lists some of the marker trails throughout Mississippi. Our state has markers for trails about Mississippi History, Country Music, Writers, Blues Music, Freedom Trail, Mound Trail, and the United States Civil Rights Trail.

https://www.mississippimarkers.com/

Questions:

• I Bonds: MT 08/17/22 http://moneytalks.mpbonline.org/episodes/money-talks-open-topic-august
• Green Travel

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Join Money Talks in playing “It’s A Numbers Game” with numbers that relate to personal finance. Play along with us and test your personal finance knowledge.

Our digits:

2 for 1

W-2 and W-4

Chapter 7 and Chapter 13

65 years old

70 and 1/2 years old

Rule of 72 https://www.investopedia.com/terms/r/ruleof72.asp

401(k), 403(b), and 457

529

1099

By the way: Halley's Comet returns to Earth's vicinity about every 75 years (not 72). But it did visit us in 1066. https://www.space.com/19878-halleys-comet.html

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At Money Talks we can’t give you money but we can remind you that you might save money by planning ahead. Compounding interest, buying in bulk, watching for sales are all ways that might put you in a better financial position. We’ll discuss saving money by planning ahead today. We’ll also take your general personal finance questions.

In the news: job rate, yield curve.

Income Tax payments and filings are due Monday, April 18th this year. https://www.irs.gov/individuals/steps-to-take-now-to-get-a-jump-on-next-years-taxes https://blog.taxact.com/planning-next-years-taxes/

• Have a bank account. The fastest way for you to get your tax refund is by filing electronically and choosing direct deposit.
• Consider adjusting your withholding if you owed taxes or received a large refund last year.
• Take action when life changes occur
• Decide if bunching deductible expenses can help you.
• Try to match major deductions to high-income years.
• Contribute to an IRA for next year now.

Atlantic and Gulf hurricane season starts until June 1st. Now is the time to prepare disaster supplies.

https://www.webmd.com/a-to-z-guides/is-it-safe-to-reuse-plastic-water-bottles

https://www.ready.gov/kit

5/8/2018 Money Talks: Financial First Aid Kit http://moneytalks.mpbonline.org/episodes/5cd31f1533f6c1be55607d84

03/30/2021 Preparing for Emergencies http://moneytalks.mpbonline.org/episodes/money-talks-prepare-for-emergencies

9/7/2017 Money Talks: Emergency Financial Preparedness http://moneytalks.mpbonline.org/episodes/5cd31f1633f6c1be55607da4

• Rotate your disaster kit’s non-perishable food in your regular pantry so you don’t let food expire and go to waste.
• Reuse water jugs, safely by washing between uses. We can have a link on how to do this.
• Watch for sales at the grocery store and stock up when regularly used items have lower prices.
• Keep your generator maintained or buy one if you think you might want one during a disaster.
• Keep your vehicle’s fuel topped off.

Families can lock in tuition rates and prepay their child’s tuition and fees. Currently for newborns who would enter college in 2039, parents could pay $38,812 one time or pay $395 monthly for 4 years of university tuition.

Treasurer David McRae was a guest on Money Talks September 15th of 2020 and discussed this and our other college savings program. http://moneytalks.mpbonline.org/episodes/money-talks-treasurer-david-mcrae

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