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Fraud? Did she say Fraud?

November 24, 2013 by

I love the fact that FINRA has created a set of tools to help you, and me, find fraud and fight it.

FINRA’s Fraud Center

FINRA provides a set of tools and explanations as  part of its campaign to  protect investors.

The idea is simple. If you know more, you will be able to fight off fraudsters. So take a look at this site.

And if you are brave, check out the thing they call the  “fraud meter.” It measures how susceptible you are to fraud. Go ahead and take the test.
Scam Meter Don’t worry, it doesn’t hurt (anything but your pride)

Now, if this teaches you something, share it with your friends. Host a party and show a video that helps you and your friends protect yourselves from con artists. This show aired on PBS, so it is a good one. And you can get it for free. So start popping the popcorn and dust off your couch. And get your friends in to watch the show. Then discuss the issues among yourselves.

You will be glad you did.

Oh, and tell them Hot Flash Financial sent you.

Filed Under: Budget, Financial Literacy, Fraud Risk, Motivate you to ACT!, Risk Tagged With: , , , , ,

Hot off the presses!

August 9, 2013 by

Here it is! Your very own paperback version of  Hot Flash Financial!

It is a grown up version of the website. No actually it is a development of the Hot Flash Financial approach. Yes it retains the hot flash method– laugh while you learn. And it offers clear explanations of complex issues, plus a set of STEPs to follow, STEPs you can rely on, if you want to increase your financial security.

So why buy a copy?HFF cover

The more you  know, the more control you will feel. Your stress about money will start to melt away, because you will know what you are doing with your money, and how. That is the best way that you can improve your future.

And, by the way, it is cheap. Your $15 investment will pay back a thousand fold!

So, hit the link to  buy your paperback copy  “and get one today!!!!” (as they shamelessly say on TV)

You will be glad you did.

 

Filed Under: Financial Plan, Hot Flash Stash, Housing decisions, Income, Income, List of Assets, List of Income and Assets, middle age, Motivate you to ACT!, Retirement, Risk, Save money, Social Security, Tools, Widows, women and money Tagged With: , , , , , , , , ,

Open those envelopes

January 17, 2013 by

It’s that time again. When important envelopes come flying into your mailbox. These envelopes usually have BOLD text on the front that say something like

 IMPORTANT TAX DOCUMENT ENCLOSED.

What do you usually do with those envelopes? Just pile them up?

Aren’t you just the least bit curious about that important  information?

Why not do something different this year?  After all, you are older and wiser now.

Sooooooo

OPEN THE ENVELOPES!

READ THE FORMS!

Then file them in a  careful TAX file, so you can start getting more organized about your money.

In addition, your clever organization will help you get ready for taxes, early. And maybe file early so you get your refund early!


Those are some good reasons to open them and read them. So let’s tell you what to expect and why you should read them.

In January, here are 2 kinds of documents that come in the mail. The first set of envelopes hold statements that tell you how much money you (and/or your partner) made last year. The second set, usually 1099 forms, tell you how much you earned in dividends or interest, and provide other information.

Focus on the first set of envelopes. There are thick ones, and very thin ones.

  • The thin envelopes hold forms called W-2 (forms).  A W-2 tells you  how much money you (or your partner) earned last year.
    • When you see a W-2, look for Box 1. It lists WAGES, TIPS AND OTHER COMPENSATION. What is the dollar amount? That’s your “gross” or total income. The amount that you get paid before all the benefits and taxes are taken out. That is a good number to know. And, it is an important tax document. You will need it to fill out your income tax documents and send it to the IRS. So put it into your new Tax File.
  • The thick envelopes tell you how much money you hold in your retirement accounts, and other accounts at banks and investment houses. These are year-end statements. So grab them, and read them so you know how much money you held in each account on December 31 of last year. Then go one better. Add this information to a list, your List of Assets. (See the Tools menu for the template you can use.) Make this a New Year’s Ritual. Every year, write down how much money you hold in each and every account. Then add up the total. This total  is another important number to know.

Now let’s look at the second set of envelopes. They generally come from Banks or other financial institutions . They tend to hold forms called 1099s.

  • A 1099 form tells you how much interest (1099-INT) or dividends (1099-DIV) you earned in each and every account that you hold. There are also 1099-R forms and 5498 forms that list IRA accounts, and contributions made to retirement accounts.

While these forms may seem boring, they actually can help you understand a lot about your money. Let’s say you don’t remember how many accounts you or your partner holds. Well, these forms remind you. Each one lists the name of a bank or financial institution that holds your account your partner’s. And it tells you

    •  the type of account (like savings, or investment or retirement)  held at that Bank
    • the account number
    • and the name of the person, or persons who own the account and control the money in it.

So if you forgot to include 1 or 2 accounts in your List of Assets, these 1099 forms can remind you of their existence. After all, Hot Flash Financial wants you to keep track of every account that holds your hard earned money. So pile all of these 1099 forms into your Tax file, and use these forms to cross-check your holdings.

If you find more accounts, add them to your List of Assets. Then track down the total dollar amounts held in each and write it on your List of Assets.  When you add up your total balance, you will really be happy to see value of your assets grow!

So watch for these envelopes. Open them up and read them. Use them to update your List of Assets.That way you will  know how much money you have. And, you can get organized for tax time.

You will be glad you did.

———————–

If you get all your tax documents organized you can file your income taxes early. THAT MEANS YOU CAN GET YOUR REFUND EARLY!!!!

Filed Under: List of Assets, Motivate you to ACT!, New Year's Resolution, Tax Refund, Tax time, women and money Tagged With: , , , , , ,

Social Security and you

August 15, 2012 by

You are probably going to  hear  a lot about Social Security in the run-up to the next election. Each party will be talking about what are sometimes called “Entitlements.”  It is important for you, as a woman “of a certain age and distinction,” to know who really supports specific programs, especially Social Security.

Why? Because Social Security is one of the most important sources of money for women after age 65.

Really? Yes. Because women live so much longer than men. So we rely on Social Security (and Medicare) for a greater number of years and a greater number of dollars.  As we women age, a bigger and bigger portion of our monthly income comes from Social Security!

How much do we rely on Social Security? Well, we have some figures for you. Women are who 65 and older, get more than half (or  58%) of their income from Social Security. And, as we get older, and spend down the money we had saved for retirement, we increasingly rely on Social Security for all or nearly all (90%) of the money we use to buy food, pay for housing, etc. By the time you pass your 80th birthday, many  (38% ) of you will be completely or nearly completely (90%) reliant on Social Security.

So now you have to know the facts about Social Security.  You have to know if Social Security will be there for you, your sisters, and your children. So start here, and then click on this link Social Security.

Remember, you have to think long and hard about a candidate and his stand on Social Security and other “Entitlements” So when you decide to vote for your representative in Congress, in the Senate, and for the President, make sure you vote for someone who will continue to support Social Security and so older women. Cut through the “stuff ” on those political commercials. Make sure you check out the truth about past voting behavior, key proposals (like budget proposals) made by each candidate, and cross-check with an independent fact checker.

Why? If you, or your sister or best friend, is one of the women who will rely on Social Security for 58% of her income from age 65 on through the rest of your life, you need to vote to make sure every candidate who has your backing will support Social Security.

 

footnote: I am drawing my facts based on 2010 statistics and analyzed by the  National Women’s Law Center “Women and Social Security: Key Facts” May 20, 2011. Here is the link. http://www.nwlc.org/resource/women-and-social-security-key-facts)

 

Filed Under: Income, Income, Longevity Risk, middle age, Motivate you to ACT!, Social Security, women and money Tagged With: , , , , , , , ,

The Supreme Court helps Hot Flash Mamas

June 29, 2012 by

The Supreme Court’s decision on Obama’s Health Care Law (actually called the Affordable Care Act) is a win for women and families. So smile a very sweet smile and read what this means for you. This is a quick summary, designed for Hot Flash Financial Mamas (or women “of a certain age and distinction”).

If you have a parent who is elderly, you will be pleased to know that s/he will be able to buy a lot more of her/his prescription drugs at affordable prices. The Affordable Care Act (also called Obamacare) closed the “donut hole” for people with Medicare Part D. That hole was created (during the Bush Administration) once elderly people, like your mother, bought more than $2,930 of medicines prescribed for her. So, after your mother’s retail  prescription costs hit $2,931, she “fell into that hole.”  Her next prescription refill cost her much more money. She was not shielded by Medicare’s discount or recommended price. That increase in costs was really hard for elderly people whose income is “fixed” and often limited.

Today, Obama’s Affordable Care Act will continue to close that “donut hole” thanks to the Supreme Court decision. Your mother, and father too,  will  be able to pay less for their prescription drugs, so important as they age.

Wow, that is a great load off your mind.

If you  have adult children who are unable to find a job in the Great Recession, the Obama Affordable Care Act allows them  stay on your health insurance until their 26th birthday.

What a relief for moms (and dads too) to know your young adult children are covered by medical insurance until they find a job that provides medical benefits, or age 26.

And for you, and anyone you help care for, insurance companies can not kick you or your family member off of their coverage because

  1. You or a family member has  reached a lifetime dollar limit, or
  2. You or a child or any other family member has a pre-existing condition. (There is some small print in this part of the bill, a function of negotiation with insurance companies, that delays some of this benefit until 2014. But let’s use this summary to make some of the key points.)
  3. If you pay all your health insurance bills and become sick and disabled, you and your family member can not be denied coverage

More preventive care is covered at no additional costs to women. This includes mammograms.

So let’s celebrate the Supreme Court’s decision to uphold a law that must have been written for mothers and daughters, to ease their minds about the health of their family.

Filed Under: Health, health care, middle age Tagged With: , , , , , ,

Has someone stolen your identity?

June 27, 2012 by

If someone steals your identity, he can get your tax refund and have it mailed to his house. Really. He can get into your bank accounts and siphon out money. He can use your credit card account numbers and run up a big bill. He can mess with your credit score. And his  stealing, putting your name on bill and then a collection agency’s call list, can keep you from getting more credit or even a job.

(Now for the giggle part of the Hot Financial take on this issue.

No, identity thieves never steal your wrinkles, gray hair, love handles, nor muffin tops. Nope. They want your money. And if they masquerade as you, using your account numbers, they can get some moolah. Why mug you in a dark alley? It is so much less fuss and bother for an identity thief to just input your information into a computer, pretend he is you, and take money out of your accounts.

These identity theft efforts are even harder to catch than those old emails from   so-called “Nigerian princes.”)

Note to readers: this indented section  is designed to encourage you to LOL. So note the little smiley face here   🙂

Identity theft is serious. It could really put a crimp in your financial security and your future. So click on this government site  FTC Identity Theft  (you can trust it) to get some important and free copies.

There are 3 brochures on the basics :

  1. One on the basics called “What to do know and what to do.”
  2. One to help you protect your children.
  3. And the last one is for you, if you suspect their is a problem or you are “in crisis” it is called “What to do if your identity is, in fact, stolen.”

 

Take action. This is important. Hot Flash Financial Important!!

 

OH AND COMMENT BELOW.

DID YOU WRESTLE WITH AN IDENTITY THIEF? WHAT HAPPENED?

DO  YOU SUSPECT YOU MAY BE VULNERABLE TO IDENTITY THEFT? TAKE ACTION.

 

(TO PROTECT YOURSELF–DO NOT TELL US YOUR SOCIAL SECURITY NUMBER, OR ANY ACCOUNT NUMBERS WHEN YOU RESPOND.)

Filed Under: Identity Theft, Motivate you to ACT!, Risk, Tax Refund, Track Spending Tagged With: , , , , ,

Want to win $50,000?

June 19, 2012 by

Get into the running for the Grand Prize of the Retirement Trivia Game!

Yes, you can win, but only if you take that important step, and start to learn about your finances and your future. Yup! You have to learn about things like social security, and creating a retirement budget. That means you  just have to find out about things that you will need to know in your future. Not a bad use of your time.

Trivia? Well it is the stuff you will be talking  about on the phone with your girlfriend, or other close person, when you reach a “certain age.” In this game, you will probably have to know precisely, what that age is for, let’s say, registering for MediCare.

How can you do this? It is free. Just take some time to learn more about retirement, on the AARP website. They have a lot of good resources that help you with retirement planning. These resources complement the Hot Flash Financial site pretty well. (So you won’t have to start from scratch.)

So what are you waiting for?

  • Click on this Link to enter the Retirement Trivia Game.
  • Read the information available, and push the red GET STARTED button.

Than win that $50,000 and add it to your Hot Flash Stash of Retirement Cash.  Brag about it on our Hot Flash Financial site (use the comments below).

 

Filed Under: Retirement Tagged With: , , , ,

What will motivate you to ACT in your self interest! FEAR? RISK?

April 12, 2012 by

FEAR? Or the knowledge that you face some serious RISKS?  Will they motivate you to ACT in your own self interest? If they do, read on. Because we, at Hot Flash Financial want you to take action to improve your finances.

Do you know that you face a big risk, or even 2 risks?

  1. Because you are a woman in the U.S. today, you  are likely to live longer than a man. So you face LONGEVITY RISK. That is you RISK  running out of money before you run out of breath.
  2. Since you are going to live 30, 40, or maybe 50 years after your Hot Flashes start, you also face another risk–INFLATION RISK.  Why? Well, you know that, over time, prices always go up, rather than down. So the amount you will pay for food, electricity, cable, mobile phones and other things will go up in a decade or 3. So you will need more money 30 years from now to pay for the comforts you enjoy–electricity, heat, air conditioning and the things you have today.

Now don’t get fearful. Get ACTIVE. Work with Hot Flash Financial to combat these risks. Or at least manage these risks. 

At Hot Flash Financial we will give you a clear set of Steps to follow so that you can ACT to make you more financially secure. Use this site, use the steps we give you,

  • to increase your knowledge about your money and your finances.
  • to learn to think about your money in a different way.
  • to learn to CHANGE the ways you use money (after all Hot Flashes are also called “The Change”).
  • to begin to practice new skills, then get better and better at DOING the THINGS YOU NEED TO DO to be more financially secure.
  • to learn to laugh to release the tensions you might feel about money and the RISKS you face
  • to appreciate the joy that comes from increasing your control over money, while laughing your way to the bank and a secure future.
  • to enjoy the  the independence that money brings .

 

So work with us here at Hot Flash Financial. Set aside an hour  each week, to click on this site and  follow the steps we give you.

That is, if you want to reduce your RISK.

 

Because if you DO NOTHING, you INCREASE YOUR RISK exponentially.

Filed Under: Motivate you to ACT!, Risk Tagged With: , , , , , , ,

What will motivate you? A bargain?

March 27, 2012 by

Are you one of those girls who wants to get something for free, or at least 20% off.

Well, have we got a bargain for you!

Hot Flash Financial’s 3 step Financial Plan to improve your money situation and your future. Hot Flash Financial offers a major breakthrough. Unlike competitors who offer just one method, we eliminate the discomfort of having too little money when you are 85.

Hot Flash Financial easily removes Money Stress. It is GREAT for any woman with, or without, Hot Flashes.

 

What’s more,  Hot Flash Financial is Absolutely  Free!!! (for more than 30 days).

But Wait! If you click right now, we will give you very professional advice to improve your money situation today and in the future. 
  Advice that you probably know you should follow.
If you click on this site now, we will give you 8 Questions at no additional cost. And we will give you some hints to help you formulate your answers.Then, we will give you the steps you can take to make your life better. You will see the results in 6 weeks or more.
So click on this site now!
You can Buy One and Get one FREE. That way you Girlfriend  can start TODAY!
Who else will give you such important information that will improve your life, while not asking for money from you? Your hairdresser wants to be paid for his/her time. So does the manicurist and pedicurist, your masseuse, doctor, dentist, ….. you name it. 
We at Hot Flash Financial don’t demand cash nor credit to “make your life better.” Take advantage of our offer.”
Filed Under: Financial Plan, middle age, Motivate you to ACT!, Uncategorized, women and money Tagged With: , , , , , ,

So,…………why not consider saving more money?

February 4, 2012 by

How can you do this?  

HERE ARE SOME EASY STEPS TO FOLLOW:

1. SET A GOAL FOR YOURSELF.  It can include adding to a savings account, or reducing your over all debt. Did you know that –in the past year, 1 in 6 American Savers selected paying off consumer debts as their goal?  

2. MAKE A PLAN that you can FOLLOW.  If you want an easy one, that does not take much of your time— increase your contributions to your retirement account. Go On-Line and change your contribution level, by a certain amount of dollars or a percentage (like 1%).  You will be in very good company if you increase your retirement savings:  44% of those who reported having a retirement savings goal made a change to their retirement plans.

If you feel you can do more than one thing, and want some guidance,  click on our site.

  • Select the ASK & ANSWER button and look at the drop down menu. Select Extra money? Is she kidding? and also read about Trade Offs.
  • There is more for you, if you would like.  Select the  ACT button and look at the drop down menu and select Build you Stash.

3.  LEARN A FEW GOOD SAVINGS TRICKS.

  • Think carefully about what  you will do with your tax refund.  Did you know you can use your #tax refund to buy US Savings Bonds? It’s an easy, safe way to diversify your savings.    Check out the Tweets at   #ASW2012           http://ow.ly/8IUNX
  • Join @AmericaSaves for tips, news, and advice to help you save. Reach your savings goals.  Follow #ASW2012  on Twitter, or go to http://ow.ly/8dnzz

 

Filed Under: Budget, debt reduction, Hot Flash Stash, Save money Tagged With: , , ,