07/06/21

IRAs and Roth IRAs&nbsp;- what are the rules if you need to withdraw money? How do you set one up? What’s the difference between the 2 anyway?&nbsp;What about an inherited IRA or RMDs? <ul><li>What about the new rules concerning RMDs – required minimum distributions?</li><li>Why do we have RMDs?</li><li>Who takes them?</li><li>When do you have to take them?</li><li>Is there a special time of the year to take them?</li><li>What can you do or what can you NOT do with the funds?</li></ul> Calls:<ul><li>RMD to a charity</li><li>inherited IRA</li><li>what to do with an old employers 401K</li><li>SIMPLE IRAs: Savings Incentive Match PLan for Employees</li><li>email </li><li>difference between IRA and 401K RMD</li><li>limit to contributions</li><li>how kids learn money skills <a href="http://moneytalks.mpbonline.org/episodes/money-talks-kids-learning" rel="noopener noreferrer" target="_blank">http://moneytalks.mpbonline.org/episodes/money-talks-kids-learning</a> <a href="https://mscee.org/" rel="noopener noreferrer" target="_blank">https://mscee.org/</a></li><li>money and taxes</li></ul>

Money Talks: IRAs in 2021

12/07/2021

Is paper cluttering up your home? Does it add to your stress rather than give you financial comfort? We’ll talk today about what important documents you should keep and for how long. <ul><li>Where to store paper</li><li>Where to store digital</li><li>Tax returns and supporting documents</li><li>Pay stubs, bank statements, credit card statements</li><li>Utility bills</li><li>ATM receipts</li><li>Home purchase records</li><li>Home mortgage records</li><li>Rental records</li><li>Brokerage statements</li><li>What to keep forever</li><li>What else to keep</li><li>Dispose of paper</li><li>Safe digital records</li></ul> IRS Topic number 305 Recordkeeping <a href="https://www.irs.gov/taxtopics/tc305" rel="noopener noreferrer" target="_blank">https://www.irs.gov/taxtopics/tc305</a> Suggestions from Ryder: <a href="https://www.macrumors.com/2021/12/06/life360-selling-location-data-of-millions" rel="noopener noreferrer" target="_blank">https://www.macrumors.com/2021/12/06/life360-selling-location-data-of-millions</a><a href="https://gizmodo.com/verizon-may-have-just-enrolled-you-in-a-data-collection-1848156157" rel="noopener noreferrer" target="_blank">https://gizmodo.com/verizon-may-have-just-enrolled-you-in-a-data-collection-1848156157</a>

Money Talks: Record Keeping

11/30/2021

&nbsp;Why do YOU give to charities? Our crew will give their reasons while you think about yours and think about any questions, you’d like to ask our Chartered Financial Analysts about making charitable donations or any personal finance question that comes to mind. Extra reading: <a href="https://www.usa.gov/donate-to-charity" rel="noopener noreferrer" target="_blank">https://www.usa.gov/donate-to-charity</a><a href="https://www.fbfs.com/learning-center/6-surprising-facts-about-charitable-giving" rel="noopener noreferrer" target="_blank">https://www.fbfs.com/learning-center/6-surprising-facts-about-charitable-giving</a> Scams&nbsp;3/13/2018 <a href="http://moneytalks.mpbonline.org/episodes/5cd31f1533f6c1be55607d8c" rel="noopener noreferrer" target="_blank">http://moneytalks.mpbonline.org/episodes/5cd31f1533f6c1be55607d8c</a>Community Foundation 12/01/2020&nbsp;<a href="http://moneytalks.mpbonline.org/episodes/money-talks-community-foundations" rel="noopener noreferrer" target="_blank">http://moneytalks.mpbonline.org/episodes/money-talks-community-foundations</a>Giving Tuesday 2019 12/03/2019 <a href="http://moneytalks.mpbonline.org/episodes/money-talks-giving-tuesday-2019" rel="noopener noreferrer" target="_blank">http://moneytalks.mpbonline.org/episodes/money-talks-giving-tuesday-2019</a>2018 <a href="http://moneytalks.mpbonline.org/episodes/5cd31f1533f6c1be55607d67" rel="noopener noreferrer" target="_blank">http://moneytalks.mpbonline.org/episodes/5cd31f1533f6c1be55607d67</a>Charity Fraud with then Secretary of State Delbert Hosemann 09/26/2017 <a href="http://moneytalks.mpbonline.org/episodes/5cd31f1633f6c1be55607da0" rel="noopener noreferrer" target="_blank">http://moneytalks.mpbonline.org/episodes/5cd31f1633f6c1be55607da0</a>&nbsp;2016&nbsp;<a href="http://moneytalks.mpbonline.org/episodes/5cd31f1633f6c1be55607dbf" rel="noopener noreferrer" target="_blank">http://moneytalks.mpbonline.org/episodes/5cd31f1633f6c1be55607dbf</a>

Money Talks: Charitable Giving 2021

11/26/2021

<a href="https://newper.blogspot.com/2021/11/your-spending-and-your-values.html" rel="noopener noreferrer" target="_blank">https://newper.blogspot.com/2021/11/your-spending-and-your-values.html</a> <h4>Friday, November 19, 2021</h4> <h3>Your Spending and Your Values</h3> Money Talks expert hosts are Chartered Financial Analysts from New Perspectives. They’ve posted a new blog on their website new per.comMoney Talks can be heard live on MPB Think Radio Tuesdays at 9am. Or listen to the podcast. Our website is <a href="http://moneytalks.mpbonline.org/" rel="noopener noreferrer" target="_blank">http://moneytalks.mpbonline.org/</a>Email us your questions: money@mpbonoine.org

Money Talks: Spending / Values Blog

11/23/2021

Do you dream of retiring from your job? No so fast. We have a list of boxes to “check off” in the decade before you make this dream a reality. The final decade before retirement is an opportunity to strengthen a retirement plan and tie up any remaining details that can help secure your future.&nbsp; Brighthouse Financial published an article that will be our guide for our discussion today: A Checklist for the Decade Before Your Retirement Date&nbsp;&nbsp;&nbsp;<a href="https://www.usatoday.com/interactives/sponsor-story/brighthouse-financial/a-checklist-for-the-decade-before-your-retirement-date/" rel="noopener noreferrer" target="_blank">https://www.usatoday.com/interactives/sponsor-story/brighthouse-financial/a-checklist-for-the-decade-before-your-retirement-date/</a> Our experts discuss their suggestions:<ol><li>Review your savings. </li><li>Adjust your investment mix.</li><li>Make a plan to pay off debt. </li><li>Estimate retirement expenses. </li><li>Examine options to cover medical costs</li><li>Develop a retirement income plan. </li><li>Review options for Social Security. </li><li>Develop a plan for enrolling in government benefit programs.&nbsp;</li></ol>

Money Talks: Decade Before Retirement

11/19/2021

<h5>Friday, November 19, 2021</h5> <h3><a href="https://newper.blogspot.com/2021/11/how-and-why-are-you-buying-bitcoin.html" rel="noopener noreferrer" target="_blank">How and WHY are you buying Bitcoin?</a></h3> This blog post a too long to post here. Please follow the link above to read about Bitcoin.<a href="https://www.newper.com/" rel="noopener noreferrer" target="_blank">https://www.newper.com/</a> Money Talks expert hosts are Chartered Financial Analysts from New Perspectives. They’ve posted a new blog on their website new per.comMoney Talks can be heard live on MPB Think Radio Tuesdays at 9am. Or listen to the podcast. Our website is moneytalks.mpbonline.org. Email us your questions: money@mpbonoine.org

Money Talks: Bitcoin Blog

11/16/2021

Diversification is a buzz word for your investment portfolio. We’ll talk about two ways you could do that: mutual funds and ETFs – exchange traded funds. Are they the same? How are they different?&nbsp; New Perspectives puts up a new blog post. Here's the latest. It's about Inflation:<a href="https://newper.blogspot.com/2021/11/chicken-little.html" rel="noopener noreferrer" target="_blank">https://newper.blogspot.com/2021/11/chicken-little.html</a><a href="http://moneytalks.mpbonline.org/episodes/money-talks-inflation-blog" rel="noopener noreferrer" target="_blank">http://moneytalks.mpbonline.org/episodes/money-talks-inflation-blog</a> Discussion:<ul><li>inflation</li><li>cash back credit cards</li><li>Medicaid premiums</li></ul> Mutual Funds:<ul><li>What are they?</li><li>How are they managed?</li><li>What types are there?</li><li>How can they make us money?</li><li>Can they lose money?</li></ul> Exchange Traded Funds - ETFs<ul><li>How do they compare to mutual funds?</li><li>How easy is it to invest?</li><li>Bit Coin ETF</li></ul> Call - how are advisor's are paid

Money Talks: Mutual Funds / EFTs

11/10/2021

<a href="https://newper.blogspot.com/2021/11/chicken-little.html" rel="noopener noreferrer" target="_blank">https://newper.blogspot.com/2021/11/chicken-little.html</a> Money Talks expert hosts are Chartered Financial Analysts from New Perspectives. Their firm has researched additional information about inflation in 2021. Please read their post here. Money Talks can be heard live on MPB Think Radio Tuesdays at 9am. Or listen to the podcast. moneytalks.mpbonline.org is our website. Email your questions: money@mpbonoine.org <h3>Chicken Little</h3> The sky is falling! The sky is falling! Or is it? We just got the latest numbers on inflation. The data show that inflation increased 6.2% for the 12 month period ending in October of this year. That’s WAY beyond the historical average of 3% annually and stirred up the inflation ghosts of the 80s.&nbsp;&nbsp;While we take inflation pressures seriously, we find there are some mitigating factors here and some variables that mean these numbers will moderate. First, this is being measured against the twelve months ending in October, 2020, when we were, mostly, in pandemic mode. Much of the twelve months from November, 2019, through October, 2020, were spent in full or partial lockdown. That means we are measuring from a low point. The previous inflation rate for that period is 1.2%, much lower than the historical average. And what determines prices? Supply and demand. And we have some weird things going on for both sides of the equation. On the supply side, we our seriously bogged down. Factories are trying to gear back up to full steam. Ships are backed up at ports. There are not enough drivers to deliver goods. There is a multitude of variables contributing to the mess, but it’s not permanent. Gradually, we will see&nbsp;&nbsp;the chain unkink, but, right now, inventory levels are low. Want the hottest Christmas toy? You’re going to pay big bucks. And what of the demand side? We’ve all been hunkered down, spending less and accumulating more. As my mother used to say, “The money is burning a hole in our pockets.” And we’re not just buying stuff. Now, we are buying experiences—booking travel like there’s no tomorrow. More people chasing fewer goods/services. It’s a recipe for classic inflation. But will we keep spending like drunken sailors? Probably not. Things will slow down. We’ll get it all out of our system and settle back into normal patterns. And what about the biggest cost of business? Labor. Well, we are waiting to see how this pans out. Yes, the labor market is tight, and wages are increasing. Will they stick? In some cases, yes. In areas with a lot of turnover, maybe not. Ultimately, we believe prices will moderate, but don’t expect to go all the way back down to earth. For the last decade, inflation has been in the 2% range or less. We expect it to go above historical levels in the next year or two and hover in the mid 3% range. That’s highER inflation but not HYPER inflation. So, when it comes to inflation, it’s a little cloudy, but we don’t think the sky is falling.

Money Talks: Inflation Blog

11/09/2021

We hope our listeners are familiar with some of the different types of financial institutions. Many in Mississippian aren’t. Many of us are un-banked. Money Talks going to talk about Credit Unions today with our guests from Hope Credit Union. Felicia Lyles, HOPE Senior Vice President of Retail Operations and Carrus King, HOPE Vice President and a Branch Manager of Hope Credit Union will tell us how they are trying to help educate Mississippians against predatory lending and the benefits of having a&nbsp;banking relationship. Ryder will be taking your general personal finance questions.Jackson branch of Hope Credit Union 601-965-7100<a href="https://hopecu.org/" rel="noopener noreferrer" target="_blank">https://hopecu.org/</a><a href="https://www.mycreditunion.gov/" rel="noopener noreferrer" target="_blank">https://www.mycreditunion.gov/</a> Discussion:<ul><li>GE stock</li><li>Hope history</li><li>Transformational deposits</li><li>Member benefits</li><li>Services availalble</li><li>Unbanked</li><li>Predatory lending</li></ul> Calls:<ul><li>infrastructure</li><li>home loans with student loan debt</li><li>how to invest</li></ul>

Money Talks: Credit Unions

Money Talks loves bringing in expert guests to bring you a variety of topics but sometimes we just sit back and encourage you to call in about anything you’d like to discuss when it comes to your personal finance. We do have a selection of stories that have been in the news to discuss between your questions. Discussion:<ul><li>"Stay the course" - S &amp; P up this year</li><li>Meta -verse</li></ul> On April 13th, 2021 Money Talks hosted Executive Director for Mississippi Home Corporation, Scott Spivey. We learned about the Rental Assistance For Mississippians Program known as RAMP. You can find our podcast from April 13th 2021 for additional information. <a href="http://moneytalks.mpbonline.org/episodes/money-talks-ms-home-corp" rel="noopener noreferrer" target="_blank">http://moneytalks.mpbonline.org/episodes/money-talks-ms-home-corp</a>&nbsp;<a href="https://ms-ramp.com/" rel="noopener noreferrer" target="_blank">https://ms-ramp.com/</a> NPR recently reported that a California man in 2014 bought a season pass at Six Flags for $150 that included two meals a day. He has eaten nearly every meal at Six Flags over the last 6 years.&nbsp;He says with all his savings, he paid off his student loans and bought a house.<a href="https://www.npr.org/2021/10/26/1049222059/california-man-has-eaten-nearly-every-meal-at-six-flags-over-the-last-6-years" rel="noopener noreferrer" target="_blank">https://www.npr.org/2021/10/26/1049222059/california-man-has-eaten-nearly-every-meal-at-six-flags-over-the-last-6-years</a> The head of the office of Federal Student Aid told lawmakers that his agency is preparing for federal student loan repayments to resume early next year. <a href="https://www.npr.org/2021/10/28/1050110273/4-things-to-know-about-possible-changes-to-your-student-loan-debt" rel="noopener noreferrer" target="_blank">https://www.npr.org/2021/10/28/1050110273/4-things-to-know-about-possible-changes-to-your-student-loan-debt</a> If you are employed by a U.S. federal, state, local, or tribal government or not-for-profit organization, you might be eligible for the Public Service Loan Forgiveness Program. <a href="https://studentaid.gov/manage-loans/forgiveness-cancellation/public-service" rel="noopener noreferrer" target="_blank">https://studentaid.gov/manage-loans/forgiveness-cancellation/public-service</a> According to various websites, here are recommendationsOn what TO buy in November: <ul><li>Smart home devices, Cookware and small kitchen appliances, Smartwatches and wearables, Smartphones, wine, baking ingredients, travel - other than Thanksgiving, tools, and cookware</li></ul>Here’s what NOT TO buy in November:<ul><li>Doorbuster TVs – wait to buy before the Superbowl, Ultra-low-price laptops (There is disagreement about these items. Some say the electronics offered aren’t the best quality.) Jewelry, Holiday merchandise – buy after Christmas, A new car – there’s a tight supply due to chip shortage, Large appliances and mattresses – buy these Independence Day, Labor Day and Memorial Day sales.&nbsp;</li></ul> Mississippians enrolled in the Supplemental Nutrition Assistance Program are eligible for a supplemental benefit in November. Similar benefits were offered over the previous months to assist certified SNAP households during the pandemic, Mississippi Department of Human Services officials said last week. Check for eligibility for SNAP benefits <a href="https://www.mdhs.ms.gov/economic-assistance/snap/" rel="noopener noreferrer" target="_blank">https://www.mdhs.ms.gov/economic-assistance/snap/</a> &nbsp;Calls:<ul><li>debt ceiling</li><li>meta money</li><li>IRAs and Roth IRAs</li></ul>

Money Talks: Open Topic Nov 2021

Airs Tuesdays at 9 a.m. on MPB Think Radio

email: money@mpbonline.orgMoney Talks airs Tuesday mornings at 9 Central Time on MPB Think Radio and over the internet at mpbonline.org Money Talks focuses on personal finance as it applies to Mississippians. In any given week, we’ll talk about anything from preparing your taxes to saving for college or investing in the stock market. 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. They join Kevin Farrell in the studio to answer your personal finance questions about family budgeting, retirement savings, Social Security, investments, debt management and more.

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Money Talks: IRAs in 2021

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