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Money 101:
Personal Money Planning's Newsletter
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Money 101
FEBRUARY 9, 2013 |
Howdy! 
We're back! A few of us from the office took a few days to visit the TD Ameritrade conference in San Diego last week. We'll have a few words about the trip and what we learned in upcoming newsletters, but for now, if you would like to see a few of the highlights, visit our Facebook page.
UPCOMING SEMINAR:
"Getting Your Financial House In Order"
Lexington Suites, Wichita Falls
Thursday, February 28
6 P.M. to 8:30 P.M.
Join attorney Dan Campbell and me for an evening designed to help you "get-r-done." Topics: - setting financial goals
- planning your retirement
- balancing the risks and rewards of your investments
- optimizing your insurance
- estate planning (wills, trust, power of attorney)
This is a great review for you, or even better, a great help for kids, grandkids, and friends who want to straighten out the money aspects of their lives. Call the office at 940-692-6885 or email gary@personalmoneyplanning.com to RSVP.
--Gary |
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Gary's Soapbox: Guest Article
The Funeral Consumers Alliance (FCA) is a non-profit organization which was started to advocate for consumers and assist them in knowing their death-care and end-of-life funeral and memorial options. Rodger Ericson is on the FCA national Board of Trustees and is active in their Austin affiliate called Austin Memorial and Burial Information Society (AMBIS). Go to funerals.org for more information.
"Shop Around"
One of the slogans of the FCA is "Shop Before You Drop". On a bumper sticker I prepared for the FCA I ask if people are 'Dying' to Pay More?. The reason? Situations like this: One San Antonio funeral home charges up to $14,000 for a direct cremation. No, that's not a misprint. $14,000. An FCA contracted option of $565 is available for the same service. Providing education and encouragement to consumers and advocacy for consumer friendly legislation is the goal of the FCA.
We encourage people to "Shop Around" in order to understand the options for you and your family. When you need it, you'll be glad you did. Being aware will allow you to help friends and family. You'll be able to comfort them when they are most vulnerable, and your information may help them save money that may have otherwise been wasted because they were not aware of the alternatives.
A funeral can be simple or elaborate, inexpensive or costly. But unless you plan well in advance and shop around, you'll likely pay top dollar. Consumer surveys show that most people don't shop around for a funeral-- they pick the funeral home closest to them, or the one their family has always used. Neither of these criteria tells you whether you're getting a good value. If you've never checked another funeral home for its prices and services, you may have been paying the highest rate in town. For example, many funeral homes which have been around for three generations may now be owned by corporations that buy family funeral homes. Although the name may be the same, the prices may have been raised.
By federal regulation, funeral homes must give you price quotes over the phone. In addition, they must give you printed, itemized price lists when you show up in person to discuss funeral arrangements. That means you have the right to stop in to any funeral home and request a General Price List (GPL), no questions asked. It's a good idea to visit several funeral homes to pick up price lists and take them home for comparison at your own kitchen table. Share them with your family. Compare the cost of the items among funeral homes. You'll likely find a variation in price, sometimes quite substantial. See our pamphlet, How to Read a General Price List, to understand your rights and options.
The best place to start shopping is your local funeral consumer group. A nationwide directory of our nonprofit information organizations can be found here . These volunteer groups can often recommend reasonably priced funeral homes and crematories. Some of our groups have contracted for substantial discounts for our members, too.
When shopping on your own, the Yellow Pages is a good place to start. You can get numbers for funeral homes and crematories online, too. Google "funerals" and "cremation" to search for businesses in your area. There are internet based companies, such as aCremations, that can arrange a cremation for around $800 (Texas and California) and arrange for a body burial at a very low cost; this is especially helpful if you did not have a chance to "shop around" and need to make a quick decision.
-- Rodger Ericson
Previous FCA articles can be found in newsletters from earlier this year: Rodger's Story "How Do I Start?" "What are my Options?" |
Gary's Latest Articles
From Times Record News
Falling Behind Not The Same As Losing The message is clear-- save early, save often--but sometimes life gets in the way. Don't panic. There are still ways to catch up. Read More...
The Lost Art of Compromise
Although many differ on the ideologies behind how estate taxes should be handled, a compromise was still reached. Is it possible in other areas of debate? Read More... |
Money 101:
Tax Mistakes to Watch Out For
It's tax time! This article offers a few hints of common problems for filers. From charitable deductions to dividend re-investments, this short list acts as a reminder to ask your tax professional a question or two soon. Find out more... |
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Speak Up!
During last week's TD Ameritrade conference, we had the opportunity to hear Condoleezza Rice speak, among others. A few people asked if she would consider running for president in 2016. She explained quickly that it wasn't in the cards for her. Apparently, she's had to answer this question before, as I discovered this quote attributed to her:
"I didn't run for student council president. I don't see myself in any way in elected office. I love policy. I'm not particularly fond of politics." --Condoleezza Rice
Have a great week!
Sincerely,
 Gary Silverman Personal Money Planning |
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DISCLOSURE
This newsletter is produced by Gary Silverman, dba Personal Money Planning, a registered investment advisor located in Wichita Falls, Texas.
Information in this newsletter is believed to provide accurate and authoritative information in regards to the subject matter covered. However, the accuracy, timeliness, or applicability of the information is not guaranteed and is provided with the understanding that we are not rendering legal, accounting, tax, or other professional advice or services.
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A copy of Personal Money Planning's current written disclosure statement discussing Personal Money Planning's business operations, services, and fees (known as an ADV Part II) is available from Personal Money Planning upon written request (and can be downloaded from our web site).
Personal Money Planning does not make any representations or warranties as to the accuracy, timeliness, suitability, completeness, or relevance of any information prepared by any unaffiliated third party, whether linked to Personal Money Planning's web site or incorporated herein, and takes no responsibility therefore. All such information is provided solely for convenience purposes only and all users thereof should be guided accordingly. |
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