Comments for Consumer University Blog http://consumeruniversity.com/blog Managing money and avoiding fraud Tue, 14 Feb 2012 17:57:17 +0000 http://wordpress.org/?v=2.9.2 hourly 1 Comment on Do You Love Your Kids? by Lyn Peters http://consumeruniversity.com/blog/2012/02/14/do-you-love-your-kids/comment-page-1/#comment-31164 Lyn Peters Tue, 14 Feb 2012 17:57:17 +0000 http://consumeruniversity.com/blog/?p=120#comment-31164 We all struggle with wanting to make our loved ones happy with presents - that one gift that someone will treasure forever and remember you fondly any time they see/use/hold it. I agree with Consumer University, however. My nieces, nephews and godson have more than enough toys. I don’t think any of them has an IRA set up in their name, however, and I’m doubtful they have a GET/529 for college, either. If you don’t want to become – or see your family members become - part of the ever increasing "sandwich generation" – put some money aside today for tomorrow’s needs. The “sandwich generation” occurs when our parents, whose retirement is devastated by the economic downturn, require financial assistance, and may even move in AND our children are unable to find work after earning a college degree - often after taking on thousands of dollars in student loan debt - also return home. We need to start today to teach tomorrow’s generations the importance of saving for our futures. We can’t all live the posh lives of the people in TV land. When I was in high school, it was “Dallas” “Dynasty” and “Melrose Place.” Today we have “Housewives of (fill in the city here)” “Jersey Shore” “Cribs” and the like. These shows have people living well beyond their means, often not working, wearing the hottest new fashions, driving the coolest new cars, going on the most fabulous vacations, etc. What they aren’t telling us, is how many are facing bankruptcy, foreclosure, repossession, etc. Today, we are saving less than previous generations, and living longer. What this means is many of us are outliving our retirement savings. FYI – this is NOT a good thing. Start with yourself, make sure you have a retirement plan and are regularly assessing and updating to make sure you will have enough money to live better, longer. While you’re doing this, teach your children, nieces, nephews, grandchildren, godchildren, etc. to do the same. If they learn today, the importance of saving for the future, hopefully they won’t fear changes in the economy as much as we have this past decade – they’ll have enough set aside to ride out the lean times and get them well into their 90’s. That cute red fluffy bear won’t help our kids go to college, buy a home, have their own family or retire well. Funds in a Roth IRA will. Lyn Peters Director of Communications / Financial Education & Outreach Washington Department of Financial Institutions "Regulating financial services to protect and educate the public and promote economic vitality." lyn.peters@dfi.wa.gov / www.dfi.wa.gov En Español at 1.888.976.4422 www.dfi.wa.gov/financial-education / www.twitter.com/FinEd4All / www.twitter.com/DFIConsumers / www.finlit.blogspot.com / www.youtube.com/user/WADFI / www.homeownership.wa.gov We all struggle with wanting to make our loved ones happy with presents – that one gift that someone will treasure forever and remember you fondly any time they see/use/hold it. I agree with Consumer University, however.
My nieces, nephews and godson have more than enough toys. I don’t think any of them has an IRA set up in their name, however, and I’m doubtful they have a GET/529 for college, either.
If you don’t want to become – or see your family members become – part of the ever increasing “sandwich generation” – put some money aside today for tomorrow’s needs.
The “sandwich generation” occurs when our parents, whose retirement is devastated by the economic downturn, require financial assistance, and may even move in AND our children are unable to find work after earning a college degree – often after taking on thousands of dollars in student loan debt – also return home.
We need to start today to teach tomorrow’s generations the importance of saving for our futures. We can’t all live the posh lives of the people in TV land. When I was in high school, it was “Dallas” “Dynasty” and “Melrose Place.” Today we have “Housewives of (fill in the city here)” “Jersey Shore” “Cribs” and the like. These shows have people living well beyond their means, often not working, wearing the hottest new fashions, driving the coolest new cars, going on the most fabulous vacations, etc. What they aren’t telling us, is how many are facing bankruptcy, foreclosure, repossession, etc.
Today, we are saving less than previous generations, and living longer. What this means is many of us are outliving our retirement savings. FYI – this is NOT a good thing. Start with yourself, make sure you have a retirement plan and are regularly assessing and updating to make sure you will have enough money to live better, longer. While you’re doing this, teach your children, nieces, nephews, grandchildren, godchildren, etc. to do the same. If they learn today, the importance of saving for the future, hopefully they won’t fear changes in the economy as much as we have this past decade – they’ll have enough set aside to ride out the lean times and get them well into their 90’s.
That cute red fluffy bear won’t help our kids go to college, buy a home, have their own family or retire well. Funds in a Roth IRA will.
Lyn Peters
Director of Communications / Financial Education & Outreach
Washington Department of Financial Institutions
“Regulating financial services to protect and educate the public and promote economic vitality.”
lyn.peters@dfi.wa.gov / http://www.dfi.wa.gov
En Español at 1.888.976.4422
http://www.dfi.wa.gov/financial-education / http://www.twitter.com/FinEd4All / http://www.twitter.com/DFIConsumers / http://www.finlit.blogspot.com / http://www.youtube.com/user/WADFI / http://www.homeownership.wa.gov

]]> Comment on Investor Education In Your Community and Olympia’s ICSEW by Alicia http://consumeruniversity.com/blog/2010/01/14/investor-education-in-your-community-and-olympias-icsew/comment-page-1/#comment-75 Alicia Fri, 22 Jan 2010 00:07:41 +0000 http://consumeruniversity.com/blog/2010/01/14/investor-education-in-your-community-and-olympias-icsew/#comment-75 Well thanks to you and the group for having me. The opportunities you provide for state employees and citizens in the community are fantastic. Keep up the great work! Well thanks to you and the group for having me. The opportunities you provide for state employees and citizens in the community are fantastic. Keep up the great work!

]]> Comment on Investor Education In Your Community and Olympia’s ICSEW by Kim http://consumeruniversity.com/blog/2010/01/14/investor-education-in-your-community-and-olympias-icsew/comment-page-1/#comment-73 Kim Tue, 19 Jan 2010 22:36:09 +0000 http://consumeruniversity.com/blog/2010/01/14/investor-education-in-your-community-and-olympias-icsew/#comment-73 Thank you so much Alicia; it was a pleasure to have you! Thank you so much Alicia; it was a pleasure to have you!

]]> Comment on Turn Checks From Grandma Into Gold by Jeremy http://consumeruniversity.com/blog/2009/12/28/turn-checks-from-grandma-into-gold/comment-page-1/#comment-38 Jeremy Mon, 28 Dec 2009 20:04:19 +0000 http://consumeruniversity.com/blog/?p=31#comment-38 Helpful article, and $105,000? That's definitely better than a $50 gift card. Compounding interest is the gift that keeps on giving. Helpful article, and $105,000? That’s definitely better than a $50 gift card.

Compounding interest is the gift that keeps on giving.

]]> Comment on Successful Events In Olympia & Auburn by Alicia Diefenbach http://consumeruniversity.com/blog/2009/11/15/successful-events-in-olympia-auburn/comment-page-1/#comment-4 Alicia Diefenbach Fri, 20 Nov 2009 16:27:41 +0000 http://consumeruniversity.com/blog/?p=4#comment-4 Thanks Cindy! The Investor Protection Trust (the sponsor of that presentation) created some amazing resources for the audience, didn't they? I think those Kiplinger booklets are going to provide further information for you about making great investment choices, as well as protecting your savings from fraud. The information on identity theft prevention resources from the Dept of Financial Institutions is helpful as well. I'm so glad to hear you're taking advantage of it! We've got lots of dates where we can schedule a school visit to present to your students, your teachers, and anyone else in the community who wants to learn more about saving and investing. Just let me know what you're looking for and we'll be there! :-) Thanks Cindy! The Investor Protection Trust (the sponsor of that presentation) created some amazing resources for the audience, didn’t they? I think those Kiplinger booklets are going to provide further information for you about making great investment choices, as well as protecting your savings from fraud.

The information on identity theft prevention resources from the Dept of Financial Institutions is helpful as well. I’m so glad to hear you’re taking advantage of it!

We’ve got lots of dates where we can schedule a school visit to present to your students, your teachers, and anyone else in the community who wants to learn more about saving and investing. Just let me know what you’re looking for and we’ll be there! :-)

]]> Comment on Successful Events In Olympia & Auburn by Cindy http://consumeruniversity.com/blog/2009/11/15/successful-events-in-olympia-auburn/comment-page-1/#comment-3 Cindy Tue, 17 Nov 2009 03:31:04 +0000 http://consumeruniversity.com/blog/?p=4#comment-3 The lesson was very useful and it taught me simply ordinary things in a daily basis we do that we don't pay much attention to that can be very risky to getting our identity stolen. highly recommend requesting a presentation at your school. The lesson was very useful and it taught me simply ordinary things in a daily basis we do that we don’t pay much attention to that can be very risky to getting our identity stolen. highly recommend requesting a presentation at your school.

]]> Comment on Successful Events In Olympia & Auburn by Jeremy http://consumeruniversity.com/blog/2009/11/15/successful-events-in-olympia-auburn/comment-page-1/#comment-2 Jeremy Sun, 15 Nov 2009 19:31:27 +0000 http://consumeruniversity.com/blog/?p=4#comment-2 The program is so cool. Congrats! The program is so cool. Congrats!

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