Money Talks

After you’ve paid Rent, utility bills, debt payments, and groceries and set aside at least a little cash in an emergency fund, it's time to start investing. 

• Magic of compounding interest
• Don't pass up free matching 401K money
• Decide how much to contribute
• Ways to save for retirment
• Broker

Questions:

• lottery
• stock cerfificate
• earned income for Roth IRA
• rolling over a Roth IRA
• stock options
• robo advisors such as ACORN
• cash in checking account

Suggested articles: https://www.nerdwallet.com/article/investing/how-to-start-investing

https://www.investopedia.com/articles/basics/06/invest1000.asp

https://www.fool.com/investing/how-to-invest/

Investment podcast http://moneytalks.mpbonline.org/episodes/money-talks-retirement-investing

Brokers podcast http://moneytalks.mpbonline.org/episodes/money-talks-brokers

Determining your invetment risk tolerance http://moneytalks.mpbonline.org/episodes/5cd31f1633f6c1be55607da7

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Our experts talk about what's in the news and answer your personal finance questions.

Dr. Nancy Lottridge-Anderson, President of New Perspectives and Ryder Taff, portfolio manager at New Perspectives. Nancy and Ryder are both Chartered Financial Analysts and Ryder also holds the Certificate in Investment Performance Measurement from the CFA Institute.

• Stimulus checks have been deposited, are being sent as paper checks, and sent as debit cards. The IRS Get My Payment tool is the most appropriate and timely avenue for status updates on your EIP. https://www.irs.gov/coronavirus/get-my-payment Visit the IRS.gov website with questions
• Saturday, Jan 16th is National Use Your Gift Cards Day
• Additional unemployment assistance is avaialble. https://mdes.ms.gov/unemployment-claims/covid19/pandemic-unemployment-assistance-pua/
• MDES: Call 7am to 7pm Monday to Friday: 601-326-1119, or 601-493-9427. You can leave a call back number. They are very busy so penitence is requested – so says MDES on THEIR twitter page. 
• https://accessms.mdes.ms.gov/accessms/faces/login/login.xhtml
• December jobs numbers are out: all the jobs lost in the United States were held by women. https://www.thecut.com/2021/01/all-jobs-lost-in-december-2020-were-held-by-women-report.html
• The next Powerball drawing is  WED, JANUARY 13 AT 9:59 P.M. CT for at least 550 million dollars.
• The next drawing for Mega Million is : TUE, JANUARY 12 AT 10 P.M. CT for at least 615 million dollars.
• Bitcoin discussion

Calls:

• stimulus cards
• mutual fund
• 2020 born baby
• "fed tax exempt" on retirement
• stimulus

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Our guest today is Dr. Rebecca Campbell Smith, associate professor with the MSU Extension Service.

Dr. Smith works with the Extension Center for Economic Education and Financial Literacy.

http://extension.msstate.edu/

Family finanical management website

The Healthy, Wealthy and Wise Program is designed to motivate adults to improve financial health and increase wealth by reducing debt, increasing savings and gaining confidence in the ability to make wise financial decisions.

When Your Income Drops If your family suffers loss of income, try to remain calm and don’t waste time and energy blaming yourself. Instead, take control of the situation by doing the best you can with the resources available to your family.

Managing Personal Finances During COVID-19: This toolkit provides information and resources to help individuals and families stabilize and improve their financial well-being as they weather loss of income and declining asset values. It is also intended to help consumers protect themselves now and position themselves for a stronger financial future.

Other pamphlets and videos include:

• Basic Money Management
• Credit
• Disaster Relief
• Estate and Finanical Planning
• Fraud and Identity Theft
• Housing and Homebuyer
• Volunteer Money Mentors
• Youth Finanical Literacy

Calls:

• stimulus taxable?
• kids and stimulus
• unemployment
• dependent and stimulus
• landlord help
• social security and stimulus
• 
  

How To Get Your Second Stimulus Payment Direct Deposited To Your Bank Account - a Forbes article

Congress has agreed to a roughly $900 billion economic relief package that includes a second round of stimulus payments.

The second stimulus payment will be:

A onetime stimulus payment of $600 for each individual

A onetime stimulus payment of $1,200 for married or joint filers

A onetime stimulus payment of $600 for dependents age 16 and under

In order to qualify for the second stimulus payment, you will need to have earned (in 2019) less than $75,000 (for individuals) or $150,000 (for married/joint filers). If your income is higher than those limits, then the stimulus payment is reduced by 5% of your adjusted gross income above those limits. This was the formula and income threshold under the first stimulus payment bill.

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Our experts are Dr. Nancy Lottridge-Anderson, President of New Perspectives and Ryder Taff, portfolio manager at New Perspectives. Nancy and Ryder are both Chartered Financial Analysts and Ryder also holds the Certificate in Investment Performance Measurement from the CFA Institute. https://www.newper.com/

Blog: Leaving Money on the Table https://newper.blogspot.com/2020/12/leaving-money-on-table.html

talking about when to take social security.

Social Security https://www.ssa.gov/

My Social Security https://www.ssa.gov/myaccount/

Money Talks Social Security Podcast: http://moneytalks.mpbonline.org/episodes/money-talks-social-security-december

Money Talks on You Tube on the MPB Think Radio Channel

Frugal Fit Mom’s video called 132 meals for $42

The Minimal Mom channel has a video called 57 Things We Don’t Buy Anymore

Blog: What Were We Thinking ?!? https://newper.blogspot.com/2020/10/reading-along-with-ryder-part-5-what.html

During these times of COVID-19, accessing your credit is important. That's why Equifax, Experian, and TransUnion are now offering free weekly online reports through April 2021.  https://www.annualcreditreport.com/

FICO videos https://www.fico.com/en/sabf/resources

Blog: Credit Score Questions https://newper.blogspot.com/2020/12/credit-score-questions.html

Webinare video: https://vimeo.com/489583454 Password: ^0u?Rmg% Thank you Mississippi Council for Economic Education https://mscee.org/

If you get your credit score from Credit Karma, you’re probably getting a Vantage Score not a FICO Score. Different credit lending institutions look at different scores issued by scoring bureaus. Besides those two agencies, there are about a dozen more credit scoring agencies. 

Blog: How to Give https://newper.blogspot.com/2020/09/how-to-give.html

Money Talks Community Foundation podcast: http://moneytalks.mpbonline.org/episodes/money-talks-community-foundations

Calls:

• 401K pandemic taxes
• ssa - which years do they use?
• email - top earnings
• ssa - older workers
• transfering money and spam emails http://moneytalks.mpbonline.org/episodes/money-talks-transferring-cash-encore
• ssa - expired check
• email - PERS http://moneytalks.mpbonline.org/episodes/money-talks-pers

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We’ve all been invited to a webinar. FICO – the credit score company – and the Mississippi Council on Economic Education has teamed up to teach us about our credit score and allow each of us to sign up for free one on one counseling from a local non-profit credit counselor.

The invited guest speaker is Congressman Bennie Thompson -US Representative for our 2nd district.  https://www.fico.com/sabf?utm_source=social&utm_medium=social_SABF&utm_campaign=jackson_partners

After you register, you’ll get the link to the webinar, which will be held from noon to 1:15pm Wednesday Dec. 9th, 2020.

Our guest, Shawn Mercer - District Manager for Social Security, takes your call and emails. ssa.gov

• scam phone calls
• ssa.gov
• retirment estimator
• my social security
• Don't carry your card with you!
• Use the "office locator" on ssa.gov to get your local ssa phone number
• disability claims and medicare sign up

Calls and emails:

• structured investments
• optimal time to retire
• estimated benefit
• change name
• giving out your social security number
• more name change
• collecting social security and working
• changing name back
• medicare

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On Giving Tuesday, our guest is: Keith Fulcher, president of the Community Foundation for Northwest Mississippi https://cfnm.org/ Find out more on their YouTube Channel: https://www.youtube.com/user/CFNM2002/videos

We learned what a community foundation is and who the CFNM serves (eleven Mississippi counties: Bolivar, Coahoma, DeSoto, Leflore, Marshall, Panola, Quitman, Sunflower, Tallahatchie, Tate and Tunica)

Other community foundations in the area:

• Community Foundation of East Mississippi: five county area, Lauderdale, Kemper, Neshoba, Newton and Clarke. https://www.cfem.org/
• The Gulf Coast Community Foundation: South Mississippi. https://www.mgccf.org/
• West Point Community Foundation http://www.wpnet.org/index.php/community/community_foundation
• CREATE Foundation serves Northeast MS: Alcorn, Benton, Calhoun, Chickasaw, Clay, Itawamba, Lafayette, Lee, Lowndes, Marshall, Monroe, Oktibbeha, Pontotoc, Prentiss, Tippah, Tishomingo and Union counties.  https://createfoundation.com/
• Pinebelt Foundation https://www.pinebeltfoundation.org/
• Community Foundation of Greater Jackson become the Community Foundation of Mississippi  https://formississippi.org/
• Community Foundation of Greater Memphis serves Eastern AR; Northern MS; Western TN https://www.cfgm.org/

Listen and learn how the donations are managed, what a donor-estabished fund is, how to establish a scholarship fund, and what charities CFNM provides assistance.

If you would like to financially support Mississippi Public Broadcasting, reach out to the MPB Foundation and find out how at https://www.mpbfoundation.org/

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Our experts from New Perspectives discuss with our MPB host ways to cut expenses from your life.

First: start by tracking your spending habits.

Next, get on a budget.

When looking to cut expense, re-evaluate your subscriptions.

Utility and specifically electric use are large portions of the average household budget.

The food budget is usually a pretty big part of a budget.

If you’re looking to cut expenses, make it harder to spend money.

( didn’t get to:

Your insurance payments may be taking up more of your budget than needed.

Sometimes cutting expenses means more drastic measures.

Look at housing costs

Sometimes vices or bad habits are putting a drain on your wallet.

A very drastic measure to save money might be have a family member live somewhere else – such as a pet.

Also look at gift giving options, organized children’s activities, and personal grooming.)

Websites to look at:

https://www.debt.org/blog/how-to-cut-expenses/

https://www.thesimpledollar.com/save-money/trimming-the-fat-forty-ways-to-reduce-your-monthly-required-spending/

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Guest: Charles Mortimer, Owner/Manager at Windsor Properties of Mississippi

How to make money from real estate?

How to include property in your investment portfolio?

• Home ownership
• Rental properties
• Flipping houses
• Real Estate Investment Groups
• Real Estate Trusts
• Online Real Estate platforms

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Our experts from New Perspectives https://www.newper.com/ help us learn all about CDs.

Dr. Nancy Lottridge-Anderson, President of New Perspectives and Ryder Taff, portfolio manager at New Perspectives. Nancy and Ryder are both Chartered Financial Analysts and Ryder also holds the Certificate in Investment Performance Measurement from the CFA Institute.

• What is a CD?
• When is opening a CD a good idea?
• Is a 6-month CD at one institution identical to another?
• Where can you buy one?
• What’s the minimum or maximum for putting money into a CD?
• Do you earn a higher rate of return if you put in more money?
• Do CDs ever “go on sale”?
• How safe are CDs?
• Can you ever get out of a CD early?
• What are: Bump-up, Add-on, No penalty, Jumbo, IRA, and Callable CDs?

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Open Topic November! What's in the News:

If you haven’t received the first and so far only Economic Impact payment:

November 21 at 3 p.m. ET Deadline to Request Your Economic Impact Payment

If you did not:

• file a 2019 federal tax return,
• get an Economic Impact Payment,
• register for an Economic Impact Payment already.
• If that is you then, use Non-Filers: Enter Payment Info by November 21 to register for your payment.
• Social Security, Railroad Retirement and Department of Veteran Affairs benefit recipients who already received a $1,200 payment now have until November 21 to register for a payment for their spouse or qualifying child.

You will receive an additional $500 Payment for each qualifying child you claimed on your tax return being used to calculate your Payment. Here's the criteria you should consider:

• Relationship to the individual who is eligible for the Payment: The child is the son, daughter, stepchild, eligible foster child, brother, sister, stepbrother, stepsister, half-brother, half-sister, or a descendant of any of them (for example, grandchild, niece, or nephew).
• Child's age: The child was under age 17 at the end of the taxable year.
• Dependent of the individual who's eligible for the Payment: The child is claimed as a dependent on the 2018 or 2019 tax return or entered on the Non-Filers: Enter Payment Info Here tool.
• Child's citizenship: The child is a U.S. citizen, U.S. national, or U.S. resident alien.
• Child's Residency: Child must have lived with the individual eligible for the Payment for more than half the tax year.
• Support for Child: Child must not provide over half of own support for the tax year.
• Child's taxpayer identification number: The child has a valid work eligible Social Security number or an Adoption Taxpayer Identification Number (ATIN) that was issued before July 15, 2020.

https://www.irs.gov/coronavirus/economic-impact-payment-information-center

For Election Day, you can get:

• A free glazed doughnut at Krispy Kreme along with a special voting sticker while supplies last Tuesday.
• Planet Fitness is offering a way to work off the stress of the election with a free workout and massage Tuesday through Nov. 8.
• Uber and Lyft also are offering discounted rides to the polls.
• DoorDash: The on-demand delivery app will have free delivery on all orders with a $15 minimum placed on Election Day with promo code VOTE
• Starting Tuesday and through Nov. 9, McDonald's is giving away its new pastry items with the purchase of a hot or iced coffee through its app.
• Get free delivery Tuesday on Grubhub orders over $25.
• Shake Shack: Poll workers get a free sandwich including the Shackburger and the Chick’n Shack from Sunday through Election Day with proof of badge.

https://www.usatoday.com/story/money/food/2020/11/03/voters-freebies-poll-workers-deals-election-day-2020/6090281002/

We discussed buying coconut mild picked by monkeys. https://www.usatoday.com/story/money/food/2020/10/28/coconut-milk-chaokoh-monkey-labor-peta-costco-walgreens/5918418002/

According to an article on CNN:

The S&P 500 fell 0.04% between July 31 and October 31. That means the market forecasts -- by a hair -- that Joe Biden will win, according to CFRA Research's Presidential Predictor.

The stock market has a fairly reliable track record: Since World War II, when the S&P 500 fell in the three months leading up to the November vote during a presidential election year, the incumbent president or party of the outgoing president has lost the election 88% of the time.

https://www.cnn.com/2020/11/01/investing/stock-market-joe-biden-donald-trump-election/index.html

The Governor’s Job Fair, a division of The Mississippi Department of Employment Security has some job fairs coming up.

• 2020 I-59 Drive-Thru Job Fair Begins:9:00 am until 3pm on November 5, 2020 at Magnolia Center Fairgrounds Parking Lot, 1459 Ellisville Blvd, Laurel, MS https://www.jobfairs.ms.gov/node/58
• 2020 Mississippi Drive-Thru Job Fair Begins:9:00 am until 3pm on November 10, 2020 at Trustmark Park Parking Lot, 1 Braves Blvd, Pearl, Mississippi https://www.jobfairs.ms.gov/node/60  
• 2020 Gulf Coast Drive-Thru Job Fair Begins:9:00 am until 3pm on November 12, 2020 at Edgewater Mall Parking Lot, 2600 Beach Blvd, Biloxi, Mississippi   https://www.jobfairs.ms.gov/node/59

• The Madison County Economic Development Authority has announced UPS will be building a new $28.6 million distribution facility in Ridgeland starting in early 2021 and is expected to bring more than 160 new jobs to the area with an average annual salary of $57,000. Those interested in applying for a position at the new facility can visit www.upsjobs.com.
• Amazon is prepping for another facility in Mississippi, this time in Madison County. The development marks the fourth investment by the company in Mississippi in just over two years. In July, Amazon announced hiring more than 500 new, full-time positions at its fulfillment center in Olive Branch, MS. Interested candidates applied online at www.amazon.com/missjobs The full-time jobs started at $15 an hour with comprehensive benefits starting on day one.
• Home furniture maker Fusion Furniture has announced a new manufacturing plant in Mississippi. Between 150 and 180 new jobs will added. Production was to begin yesterday. Starting pay for experienced woodworkers and upholsters will be $21 an hour and all positions come up with benefits. 

https://www.clarionledger.com/story/business/2020/10/29/ups-build-28-6-million-facility-ridgeland-create-160-jobs/6071327002/

https://www.localmemphis.com/article/money/business/amazon-to-hire-500-full-time-workers-in-olive-branch-mississippi/522-ef9dcf55-4c88-4d2c-a05b-636bd2849ab4

https://www.woodworkingnetwork.com/news/woodworking-industry-news/fusion-furniture-adds-200000-sq-ft-facility-150-jobs

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