Financial FYI: Issue 112607
Last Year Americans Spent:
More in restaurants ($390 billion) than in grocery stores ($364 billion)
$155 billion on alcoholic beverages, enough for every person to down 7 bottles of liquor, 12 bottles of wine, and 230 cans of beer.
$4.9 billion on fitness equipment and $17.4 billion on fitness clubs, but according to the American Time Use Survey, 83% of us don’t exercise at all on any given day. Source: Time Magazine.
Sponsor: MyFinancialReflection.com The Webs First and Only Financial Life Planning Software.
****************************************************************************
Economic Conditions
A Gallop Poll survey said 78% of Americans say economic conditions are getting worse, the highest reading since the gallop organization started polling on the question in 1991. Source: USA Today.
Sponsor: EconomicSignals.com Economic Signals That Help You Manage The Market.
****************************************************************************
How Much College Does The GI Bill Really Pay For?
The original GI Bill entitled World War II Veterans to tuition, books, and a living stipend that covered the cost of education. Today, the maximum benefit for a nine-month academic year is $9,609. That covers about 66% of the tuition, room and board charges and estimated costs for books and supplies at an in-state four-year public university, estimated this year to be an average of $14,577. Source: USA Today.
Sponsor: HeroAct.com Helping Soldiers Save For Retirement.
****************************************************************************
IRS May Owe You Some Money
The IRS is seeking more than 115,000 taxpayers who are due more than $110 million. Most of the check were returned to the IRS as underliverable. The refunds can be claimned as soon as taxpayers update their address with the IRS, taxpayers can check the status of the refunds by using ther “Where’s My refund tool” at www.irs.gov or by calling 1-800-829-1954. Source: USA Today.
Sponsor: Latefile.com Tax Forms And Help For Filing Late Tax Returns.
****************************************************************************
Changes In Financial Aid
In a bill passed last year, congress decreed that when determining how much each family can afford to contribute to a child’s education, the federal government should not consider the assets of owners of small businesses with 100 full-time employees or fewer. The College Board says that about 14% of the parents who file their own PROFILE aid application reported owning a business. And the Census bureau reports that 98 percent of the nations 5.8 million businesses have 99 or fewer employees. Source: US News & World Report.
Sponsor: FSAhelp.com College Financial Aid Planning.
****************************************************************************
ATM Usage
A 2006 study done by Diebold and Harris Interactive found 82% of consumers surveyed indicated that they used ATM’s for cash, 30% said they deposited checks, 24% said they checked their account balances, and 19% used the machines to deposit cash. Banking Magazine.
Sponsor: EFinancialBank.com Online Banking And Investing Made Easy, E Financial Bank.
****************************************************************************
Single People
In the 1950’s married couples made up 80% of the country’s households. Today they account for a hair over 50% and according to the Census Bureau, singles are positioned to take the lead soon. According to A Harris Interactive Poll, 27% of single people feel financially secure, and 13% have savings equal to 6 month of their expenses. Source: Money Magazine.
Sponsor: FinancialBlogs.org Share Your Financial Life With A Free Financial Blog.
****************************************************************************
World’s Most Expensive Dessert
The world’s most expensive dessert is available at New York’s Serendipity 3. The delicacy consists of milk, cocoa, 5g of 24-karat gold, gold-flecked whipped cream and shavings from a rare chocolate truffle. None have been sold. Source: Time Magazine.
Sponsor: Investingenough.com Are You Investing Enough To Live The Life You Deserve?
****************************************************************************
Green Employees
A recent poll by MosterTRAK , a job website geared toward students and entry level-hires found that 80% of young professionals are interested in securing a job that has a positive impact on the environment, and 92% would be more inclined to work for a company that is environmentally friendly. Source: Wall Street Journal. S
ponsor: Ecovesting.com Make Lots of Green With Eco Friendly Stocks, Bonds, and Mutual Funds.
****************************************************************************
Super Bowl Advertising Rates For 2007
Current ad rates for this year’s Super Bowl have topped $2.7 million for a 30-second slot, up from as high as $2.6 million in 2006. Some media buyers believe that the final slots for the big game could sell for as much as $3 million before it’s all over. Source: Wall Street Journal.
Sponsor: FFLBlog.com Hardcore Fantasy Football Advice.
****************************************************************************
Please BOOKMARK us or email your comments and questions to corporateservices@financialfyi.com
Financial FYI: Issue 111807
Do You Have A Retirement Income Plan?
Only 22% of pre-retirees have created a plan to convert their retirement assets into Income. Source: Investment News.
Sponsor: EnoughIncome.com Will You Have Enough Income To Retire On?
*************************************************************************
How Much Are You Saving In Your 401(k)?
The average overall 401(k) participation rate for 2006 was 63.1%, down slightly from 63.4% in 2005. Participants saved 7% of their pre-tax salary last year, unchanged from the amount in 2005. Source: Investment News.
Sponsor: InvestedEnough.com Have You Invested Enough For Retirement?
*************************************************************************
Say Goodbye To The $1.oo Double Cheesburger
As the cost of food ingredients rises, the profit margin on McDonald’s most popular “Dollar Menu” item, the Double Cheesburger” is shrinking to the point where restaurants have taken the sandwich off the “Dollar Menu” and are charging more. Source: Wall Street Journal.
Sponsor: FinancialBlogs.org Share Your Financial Life With A Free Financial Blog.
*************************************************************************
Households Worth $5 Million or More Increase
The number of U.S. households with net worths of $5 million or more, excluding primary residence, rose to 1.14 million in 2006 – a 23% increase from 2005’s total and four times the level of 1996 according to the Spectrum Group. Source: Barrons.
Sponsor: Centimillionaires.com Helping The Rich Get Wealthy.
*************************************************************************
Households Without A Will
In a recent PNC Wealth Management Survey, 30% of adults with investible assets of $500,000 or more admitted that they didn’t have a will. A Harris Interactive survey of the general population found that 55% had no will. Source: Forbes.
Sponsor: Successortrustee.Com Keeping Families Intact During Financial Changes.
*************************************************************************
The World’s First Trillion Dollar Company
The World’s first trillion-dollar company debuted last week when PetroChina shares began trading on the Shanghai Stock Exchange. On the first day of trading shares nearly trippled, pushing PetroChina’s market capitalization into the $1 trillion range. By the end of the week their market cap slipped back to about $878 billion, roughly the size of Exxon Mobile and General Electric combined. Source: Financial Week.
Sponsor: EconomicSignals.com Economic Signals That Help You Manage Markets.
*************************************************************************
The Cost Of Retirement Is Too Scary
According to Bankrate.com 68% of adults avoid news about the cost of retirement. Source: Money Magazine.
Sponsor: MyFinancialReflection.com Financial Planning Without Numbers.
*************************************************************************
Watch Your Credit report
A recent study by the Internet Public Research Group found that 25% of credit reports contain a mistake serious enough to cause a denial of credit. Source: Money Magazine.
Sponsor: DebtKarma.com Helping People Create Positive Financial Karma.
*************************************************************************
The Link Between Income and Heaven
78% of Americans age 50 or older with a household income of $75,000 or more say they believe in heaven. 90% of Americans who make less than $25,000 annually say they believe in heaven. Source: Time Magazine.
Sponsor: FinancialPrayers.com Share Your Financial Hopes, Needs, and Blessings.
*************************************************************************
Please bookmark us…
Financial FYI: Issue 111207
The FDIC reports that about 37% of the $6.7 trillion in domestic bank accounts are uninsured. Of the 8,600 insured institutions by the FDIC, three, including Net Bank have failed this year. There were no bank failures in 2005 and 2006. Source: USA Today.
Sponsor: EFinancialBank.com Online Banking Made Easy, E Financial Bank.
***************************************************************************
According to the Energy Information Administration, those who heat with oil are expected to pay a record $1,841 on average from October to March to keep their homes warm, up 25.6% from last year. The winter tab for natural gas, which is used to heat most US homes, is expected to be up 10.7% this year to $900 on average, while those who heat with electricity are expected to see a gain of 2.7%. Source: USA Today.
Sponsor: myFIQ.com Financial Planning Without Numbers For Financial Life Planners.
***************************************************************************
The national average for a home health care aide to assist with hygeine and medication is $19 an hour, while adult day care costs an average of $61 a day. Source: US News & World Report.
Sponsor: AdultRespiteCare.com Adult Day Care Services & Health Care Aides.
***************************************************************************
Baby Boomers currently control $13.3 trillion in household investible assets, representing 53% of total US household investible assets. Source: Investment News.
Sponsor: RetireeJobs.org New Careers & Second Chances For Boomers & Retirees.
***************************************************************************
Whole-life insurance policyholders seem significantly more prepared for retirement than those without such policies. Research showed that 80% of people who owned whole-life policies believed they would have enough money to live comfortably during retirement, compared to 60% of people who did not own whole-life policies. Source: Investment News.
Sponsor: CashValueLoans.com Get Money Out Of Your Life Insurance Policy.
***************************************************************************
Wal-mart, the worlds largest company reported fiscal year 2007 sales of $344,992,000,000 (That’s $345 Billion) which is larger than the total GDP of Sweeden. Source: Time Magazine.
Sponsor: EconomicSignals.com Economic News That Takes You Inside The Market.
***************************************************************************
Since 1982 there has been a 32% decline in the number of farms who produce revenue of $10,000 to $250,000. During the same period of time, there has been a 220% increase in the number of farms with revenue of more than $5 million. Sponsor: Time Magazine.
Sponsor: FinancialSubsidy.com Get The Financial Help You Need, Financial Subsidy.
***************************************************************************
Roughly three-quarters (73%) of pet owners surveyed by the American Animal Hospital Association in 2004 said they would be willing to go into debt to provide medical care for their pets. Source: Financial Planning Magazine.
Sponsor: FinancialBlogs.org Share Your Financial Life With A Free Financial Blog.
***************************************************************************
Get tips on “How To” best use Financial FYI to create financial buzz…
Check our Financial FYI’s Corporate Services…
Please bookmark us and tell a friend…
Financial FYI: Issue 110607
Cut Your Medical Bills In Half
An estimated 150,000 Americans traveled abroad for medical care in 2006, and it’s easy to see why. Open heart surgery in the US costs about $100,000, while in India the same surgery costs just $7,500. A US facelift costs about $15,000, while Guadalajara, Mexico offers the same procedure for $3,000. Hip replacement surgery in the US will run you about $40,000, while a trip to India, including airfare and hospital stay will cost you less than $10,000. Source: Forbes Life.
Sponsor: Medical Information Bureau Organize And Manage Your Medical Records.
**************************************************
Early Retirement
A phone survey of 1,032 American adults by Edward Jones showed that nearly two in five respondents between the ages of 25 and 34 said they expected to retire before they turned 60, but 55% of those with such expectations said they weren’t saving enough. The study also found that 34% of respondents between 35 and 44 cited family obligations as the number one reason for their lack of retirement preparation. Source: Investment News.
Sponsor: my Financial IQ Financial Planning Without Numbers.
**************************************************
You Should Have Went To Law School
Over the past 20 years, law school tuition increases were nearly triple the rate of inflation, and in 2006, graduates of public and private law schools had borrowed an average of $54,509 and $83,181, respectively, up 17% and 18.6% from the amounts borrowed by graduates in 2002, according to the National Bar Association. Source: Wall Street Journal.
Sponsor: Retirement Jobs New Careers For Retirees.
**************************************************
Please Keep Reducing Fed Interest Rates
A study of the correlation between changes in Federal Reserve monetary policy and equity performance between 1975 and 2005 showed that the overall market returned 17.4% in expansive periods (that is when the Fed is lowering rates), while returning 5.3% in restrictive periods. Source: Financial Planning Magazine.
Sponsor: Investment Check Up Investment Speakers, Education, and Coaching.
**************************************************
The Cost of Long-Term Care
The current average daily rate for a stay in a nursing home is $183 or nearly $67,000 annually. If costs rise a bit faster than inflation as expected, by 2026 the daily rate could hit $486 a day or $177,000 a year. Source: Money Magazine.
Sponsor: Long-Term Care Insurance Maintain Your Independence and Dignity.
**************************************************
Current Unemployment Rate
Nationally, the US unemployment rate stood at 4.7% in September 2007, up marginally from 4.6% in September 2006. Michigan’s unemployment rate hit a 14 year high of 7.5% in September, up from 7.1% in September 2006, giving it the highest jobless rate of the 50 states. Texas by contrast, has seen its unemployment rate fall from 4.8% in September 2006 to 4.3% in September 2007. Source: Barrons.
Sponsor: Unemployment Income Make The Most Of Your Unemployment Benefits.
**************************************************
Average Funeral Costs
The average funeral, excluding burial expenses, costs $6,580 according to the National Funeral Directors Association. Source: US News & World Report.
Sponsor: Burial Instructions Don’t Let Your Kids Decide Where To Put You.
**************************************************
College Costs: Hurry Up and Graduate
Since it’s now taking the average public university student more than six years to graduate, the cost of a public college degree is now more than $90,000, about 25% more than it was for freshman five years ago. Source: US News & World Report.
Sponsor: Charitable Endowments Strategies For Spreading Your Wealth.
**************************************************
Holiday Shopping: How Much Are You Spending?
$816.69 is the average amount consumers plan to spend this year on holiday-related shopping, both online and in stores. Source: Time Magazine
Sponsor: Financial Blogs Share Your Financial Life, Experience, and Knowledge.
**************************************************
Get tips on “How To” best use Financial FYI to create financial buzz…
Check our Financial FYI’s Corporate Services…
Please bookmark us and tell a friend…
NAKED RETIREMENT
Naked Retirement strips down the old traditional models of retirement planning and replaces the it with a more creative and intuitive one that helps people take control of their retirement planning, saving, and investing.
The book details the evolution of retirement and uses it to help baby boomers and retirees understand why they are behind in saving and what they can do about it.
"Retirement planning can no longer be one-dimensional, focused exclusively on merely providing information such as how pensions or a 401(k)’s work. It needs to extend beyond financial planning to include aspects of health and social issues that will impact future retirees," according to author, Robert Laura.
Billed as the ultimate defense against the scary, anxious, and stressful feelings people get on their first day of retirement when they have only a financial plan full of numbers and charts to guide them, Laura simplifies the mental and emotional aspects of retirement planning with thought-provoking questions about your definition and approach to retirement as well as important retirement conversations that foster strong relationships in retirement.
The book culminates into a one-page Naked Retirement plan that will help people as well as planners successfully estimate retirement preparedness and future success.
Book is available at NakedRetirement.com and is emailed in pdf format directly to participants.