How do you know you need a new mattress? How do you choose one?

Our guest, Horace McMillon from Miskelly's Furnature will guide us through how to tell when it's time for a new mattress, what are our options, and how to choose a mattress.

https://www.consumerreports.org/mattresses/buy-a-better-mattress/

https://brandongaille.com/31-mattress-industry-statistics-and-trends/

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We let the listeners decide what to talk about on this Open Topic day. The results: savings bonds, 401 K contributions, what to do with your cash, and credit card debt. We also suggested what to buy in May and what gifts a new graduate might like.

Savings Bonds information: https://www.treasurydirect.gov/

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You've got 11 months before the next tax day. What can you do to make it easier on yourself?

How long do you need to keep what paper? It's time for Financial Spring Cleaning. Listen to the show to learn what you should do about your retirement accounts, insurance, beneficiary information, debts, and automated payments.

It's time to evaluate your tax withholding, charitable giving, and scheduled medical procedures. Keep good records for yourself and your family for emergencies, disasters, or in case of death. 

• Keep Sales Receipts until warranty expires or can no longer return or exchange
• What to keep for 1 month:  ATM Printouts (When you balance your checkbook each month throw out the ATM receipts)
• What to keep for 1 year:
• Paycheck Stubs
• Utility Bills
• Cancelled Checks
• Credit Card Receipts
• Bank Statements
• Quarterly Investment Statements
• What to keep for 3 years
• Income Tax Returns (Please keep in mind that you can be audited by the IRS for no reason up to three years after you filed a tax return. If you omit 25% of your gross income that goes up to 6 years and if you don't file a tax return at all, there is no statute of limitations.)
• Medical Bills and Cancelled Insurance Policies
• Records of Selling a House
• Records of Selling a Stock
• Receipts, Cancelled Checks and other Documents that Support Income or a Deduction on your Tax Return
• Annual Investment Statement
• What to keep for 7 years:  Records of Satisfied Loans
• What to hold while active:
• Contracts
• Insurance Documents
• Stock Certificates
• Property Records
• Stock Records
• Records of Pensions and Retirement Plans
• Property Tax Records Disputed Bills
• Home Improvement Records
• Keep Forever
• Marriage Licenses
• Birth Certificates
• Wills
• Adoption Papers
• Death Certificates
• Records of Paid Mortgages

*These documents should be kept in a very safe place, like a safety deposit box.

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Do you have a part time gig? Do you have many part time gigs as your only source of income?

We have some helpful tips for those who are looking to increase their income and some cautions for those who aren't considered "employees". 

Remember: if you aren't an employee, you probably aren't having Social Security, State and Federal Taxes with held from your payment. You are responsible for paying those amounts in each quarter. 

There are a few tests that must be passed to determine if a worker is an employee or if they are an independent contractor: https://www.dol.gov/newsroom/releases/whd/whd20190429

 https://www.thebalancecareers.com/15-side-jobs-to-make-some-extra-money-4074574 has a list of 15 Side Jobs to Make Some Extra Money and web links to get you started:

1. Ride Share/Delivery Driver

2. Household Helper/Personal Assistant

3. Care Giver

4. Pet Sitter or Dog Walker

5. Customer Service Representative

6. Get a Freelance Gig

7. Rent Your Extra Space

8. Sell Your Stuff

9. Get Some Micro Jobs

10. Participate in Research Studies or Focus Group

11. Organizer/Mover

12. Party Planner

13. Work for a Caterer

14. Tutoring

15. Work at a Market or Festival

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Today's show was listener driven. Callers wanted to talk about Social Security and Student Loans.

So that's what we did! 

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/

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How should an investor evaluate a stock? Our financial advisers give some tips and take personal finance questions on the show. 

Our experts are Dr Nancy Lottridge Anderson, President of New Perspectives and Ryder Taff, Portfolio Manager at New Perspectives. https://www.newper.com/

Seven things an investor should consider when picking stocks:

• Earnings growth
• Stability
• Relative strength in industry
• Debt-equity ratio
• Price-earnings ratio
• Management
• Dividends

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• The difference between an Traditional IRA, a Roth IRA, a Simple IRA
• Rules concerning contributions
• Rules concerning distributions

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This was an Open Topic day with a few tips to help your clothing budget.

Questions anwered: 

• Roth IRAs for tuition payments
• IRA contribution caps
• Saving for retirement vs cash in the bank
• 403B and Lifestyle accounts
• Banking interest rates
• IRA withdrawals and charity contributions
• Medicare plans

Clothing buying tips:

• Shop off season but NOT in April or October
• Items may go on sale after 6 weeks in the store
• Shop thrift stores
• Be careful at outlet stores - factory line: made for outlet sales NOT regular merchandise
• Treat clothing shopping like grocery shopping - make a list
• When shopping online "abandon" your cart. The site may send you a discount code to get you to come back and make a purchase
• Avoid dry-clean only clothes to save money
• Take care of your clothing so they last longer
• Buy classic clothes they stay in style
• Pay in cash and ask for a discount
• Learn the price codes:  https://lifehacker.com/know-the-secret-price-codes-at-major-retailers-to-save-921445013

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Guests Marcia Reed and David Johnson from Bank Plus join financial adviser Ryder Taff to talk about establishing a banking relationship. Credit Plus https://www.bankplus.net/Personal/CreditPlus/CreditPlus/

Want to access your free annual credit report? Get one free each year from each of the three credit reporting agancies at https://www.ftc.gov/faq/consumer-protection/get-my-free-credit-report 

36 Best New Bank Account Promotions & Offers – March 2019  https://www.moneycrashers.com/best-new-bank-account-promotions-offers/

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Jay White, host, and Shawn Mercer, District Manager with the Social Security Administration, spend the entire hour taking listener questions only about Social Security matters.

You can find many answers to your Social Security, disability, and Medicare questions at http://ssa.gov

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