Friday, April 25, 2008
Monday, April 14, 2008
Try Brokered CDs for Higher Rates
Try Brokered CDs for Higher Rates
By Mark P. Cussen on certificates of deposit
By Mark P. Cussen
First Interstate Bank
Thanks to the FDIC, millions of Americans are able to sleep peacefully at night, knowing that their savings are protected by government-backed insurance. Since the thirties, certificates of deposit have become synonymous with safety of principal. Bank customers who shop for CDs concern themselves only with the rates and terms that are available.
Unfortunately, the safety that comes with FDIC insurance comes with a price. Will Rogers once said, “It’s not the return on my money that concerns me, it’s the return of my money.” This famous saying exemplifies the attitude of many bank customers. While CDs are among the safest types of investments available, their rate of return is correspondingly low. If interest rates are around 5%, then that is about what you can expect a short term CD to pay. While longer term and jumbo CDs can pay slightly more, it is very difficult to see much real growth from them over time.
However, there is another option available for those seeking higher rates on their guaranteed investments. Unbeknownst to many CD buyers, many brokerage and investment firms offer CDs that are every bit as safe and secure as those found in banks. While these CDs do differ from their cousins in the banking system in some respects, they are still FDIC insured up to $100,000 per CD owner. Furthermore, this type of CD generally pays a higher rate than bank CDs, and they often contain other features, such as put or call options that allow either the buyer or the issuer to redeem the certificate prematurely without penalty. For example, a brokered CD with a 20-year maturity could be “puttable” at a premium, such as $105, after five years, if the buyer so desires. That means that five years from now, if rates have gone up and the buyer wishes to move the money in this CD to another one, then he or she will receive $1,050 in return for each thousand dollars that was originally invested. Therefore, a $100,000 CD holder will see a return of $105,000 on the principal-in addition to the five years of interest the holder received. Call features give the issuer the same privilege. Brokered CDs can also be bought and sold in the secondary market like any other type of bond. However, the FDIC guarantee will only apply for investors that either hold their certificates to maturity or redeem them in a put or call transaction. If the certificate is sold prematurely in the secondary market, then the owner may receive more or less than his original investment, depending on market conditions. But those who hold their CDs to maturity or call will be safe.
By Mark P. Cussen on certificates of deposit
By Mark P. Cussen
First Interstate Bank
Thanks to the FDIC, millions of Americans are able to sleep peacefully at night, knowing that their savings are protected by government-backed insurance. Since the thirties, certificates of deposit have become synonymous with safety of principal. Bank customers who shop for CDs concern themselves only with the rates and terms that are available.
Unfortunately, the safety that comes with FDIC insurance comes with a price. Will Rogers once said, “It’s not the return on my money that concerns me, it’s the return of my money.” This famous saying exemplifies the attitude of many bank customers. While CDs are among the safest types of investments available, their rate of return is correspondingly low. If interest rates are around 5%, then that is about what you can expect a short term CD to pay. While longer term and jumbo CDs can pay slightly more, it is very difficult to see much real growth from them over time.
However, there is another option available for those seeking higher rates on their guaranteed investments. Unbeknownst to many CD buyers, many brokerage and investment firms offer CDs that are every bit as safe and secure as those found in banks. While these CDs do differ from their cousins in the banking system in some respects, they are still FDIC insured up to $100,000 per CD owner. Furthermore, this type of CD generally pays a higher rate than bank CDs, and they often contain other features, such as put or call options that allow either the buyer or the issuer to redeem the certificate prematurely without penalty. For example, a brokered CD with a 20-year maturity could be “puttable” at a premium, such as $105, after five years, if the buyer so desires. That means that five years from now, if rates have gone up and the buyer wishes to move the money in this CD to another one, then he or she will receive $1,050 in return for each thousand dollars that was originally invested. Therefore, a $100,000 CD holder will see a return of $105,000 on the principal-in addition to the five years of interest the holder received. Call features give the issuer the same privilege. Brokered CDs can also be bought and sold in the secondary market like any other type of bond. However, the FDIC guarantee will only apply for investors that either hold their certificates to maturity or redeem them in a put or call transaction. If the certificate is sold prematurely in the secondary market, then the owner may receive more or less than his original investment, depending on market conditions. But those who hold their CDs to maturity or call will be safe.
Sunday, March 30, 2008
Saturday, March 22, 2008
Remove Pet Hair from Anything [Cleaning]
Remove Pet Hair from Anything [Cleaning]
By Tamar Weinberg on Pets
hairball_kitty.jpgIf you've got hairy pets in the house, you know what it's like to live with a permanent coating of fur on everything. Web site wikiHow suggests ways to clean and remove pet hair—at least until your pet comes around again. One tip is to use water and the palm of your hand:
Lightly dampen the palm of your hand. Wipe the pet hair off in a downward motion. The hair will ball up and stick to your damp hand.
Rubber gloves or latex gloves are also great pet hair removers, as well as a spare FedEx pouch.
By Tamar Weinberg on Pets
hairball_kitty.jpgIf you've got hairy pets in the house, you know what it's like to live with a permanent coating of fur on everything. Web site wikiHow suggests ways to clean and remove pet hair—at least until your pet comes around again. One tip is to use water and the palm of your hand:
Lightly dampen the palm of your hand. Wipe the pet hair off in a downward motion. The hair will ball up and stick to your damp hand.
Rubber gloves or latex gloves are also great pet hair removers, as well as a spare FedEx pouch.
Tuesday, March 11, 2008
Busting Myth, People Turn More Liberal With Age
Busting Myth, People Turn More Liberal With Age
By Clara Moskowitz, LiveScience Staff Writer
posted: 2008-03-10 9:20 a.m. ET
New research has debunked the myth that people become more conservative as they age. Credit: stock.xchng
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New research has debunked the myth that people become more conservative as they age. Credit: stock.xchng
The stereotype of a cranky old man, set in his ways, getting more conservative by the day, is an enduring one. But new research has debunked the myth that people become more conservative as they age.
By comparing surveys of various age groups taken over a span of more than 30 years, sociologists found that in general, Americans' opinions veer toward the liberal as they grow older.
"All the evidence we have found refutes the idea that as people age their attitudes become more conservative or more rigid," said Nicholas Danigelis, a sociologist at the University of Vermont. "It's just not true. More people are changing in a liberal direction than in a conservative direction."
Detailed study
Danigelis and collaborators Stephen Cutler of the University of Vermont and Melissa Hardy of Pennsylvania State University analyzed data from the U.S. General Social Surveys of 46,510 Americans between 1972 and 2004. While the surveys did not provide data for the same individuals at different stages, they represented snapshots of the changing attitudes of respondents in different age cohorts over time. The researchers corrected for the fact that the age groups at different survey times are made of up new members with unique baseline opinions.
The surveys assessed attitudes on politics, economics, race, gender, religion and sexuality issues. In some cases, such as racial issues and questions of civil liberties for communists, the researchers measured a greater change toward liberalism in older people than in younger people.
"What we believe has happened, at least for the race relations, is that the older group, starting out at a position of significantly more negative feelings, had further to go," Danigelis told LiveScience.
If people really become more liberal as they age, why does common wisdom hold the opposite to be true?
People might find an average 60-year-old to be more conservative than an average 30-year-old, Danigelis said, but beware of extrapolating a trend. The older person, for example, might have started off even more conservative than he or she is now.
Danigelis also blamed the misconception on pervasive negative attitudes toward the elderly in our country, and stereotypes that depict seniors as rigid, ornery and set in their ways.
"If you look at any greeting cards about getting older you’ve got a wonderful lecture about age stereotypes," he said. "My colleague continues to cut out cartoons about getting old and trying to teach old dogs new tricks."
The study was published in the October 2007 issue of the journal American Sociological Review.
In the future, the researchers hope to investigate whether similar trends occur in other cultures and societies.
"There are international surveys that might allow you to do a similar study," Danigelis said. "Our gut feeling is yes but we haven’t tested that and we hope to."
By Clara Moskowitz, LiveScience Staff Writer
posted: 2008-03-10 9:20 a.m. ET
New research has debunked the myth that people become more conservative as they age. Credit: stock.xchng
Full Size
Previous Image Next Image
1 of 1
New research has debunked the myth that people become more conservative as they age. Credit: stock.xchng
The stereotype of a cranky old man, set in his ways, getting more conservative by the day, is an enduring one. But new research has debunked the myth that people become more conservative as they age.
By comparing surveys of various age groups taken over a span of more than 30 years, sociologists found that in general, Americans' opinions veer toward the liberal as they grow older.
"All the evidence we have found refutes the idea that as people age their attitudes become more conservative or more rigid," said Nicholas Danigelis, a sociologist at the University of Vermont. "It's just not true. More people are changing in a liberal direction than in a conservative direction."
Detailed study
Danigelis and collaborators Stephen Cutler of the University of Vermont and Melissa Hardy of Pennsylvania State University analyzed data from the U.S. General Social Surveys of 46,510 Americans between 1972 and 2004. While the surveys did not provide data for the same individuals at different stages, they represented snapshots of the changing attitudes of respondents in different age cohorts over time. The researchers corrected for the fact that the age groups at different survey times are made of up new members with unique baseline opinions.
The surveys assessed attitudes on politics, economics, race, gender, religion and sexuality issues. In some cases, such as racial issues and questions of civil liberties for communists, the researchers measured a greater change toward liberalism in older people than in younger people.
"What we believe has happened, at least for the race relations, is that the older group, starting out at a position of significantly more negative feelings, had further to go," Danigelis told LiveScience.
If people really become more liberal as they age, why does common wisdom hold the opposite to be true?
People might find an average 60-year-old to be more conservative than an average 30-year-old, Danigelis said, but beware of extrapolating a trend. The older person, for example, might have started off even more conservative than he or she is now.
Danigelis also blamed the misconception on pervasive negative attitudes toward the elderly in our country, and stereotypes that depict seniors as rigid, ornery and set in their ways.
"If you look at any greeting cards about getting older you’ve got a wonderful lecture about age stereotypes," he said. "My colleague continues to cut out cartoons about getting old and trying to teach old dogs new tricks."
The study was published in the October 2007 issue of the journal American Sociological Review.
In the future, the researchers hope to investigate whether similar trends occur in other cultures and societies.
"There are international surveys that might allow you to do a similar study," Danigelis said. "Our gut feeling is yes but we haven’t tested that and we hope to."
Excellent Attorney's Advice
ATTORNEY'S ADVICE - NO CHARGE
Read this and make a copy for your files in case you need to refer to it someday. Maybe we should all take some of his advice! A corporate Attorney sent the following out to the employees in his company.
1. Do not sign the back of your credit cards. Instead, put "PHOTO ID REQUIRED."
2. When you are writing checks to pay on your credit card Accounts, DO NOT put the complete account number on the "For" line. Instead, just put the last four numbers. The credit card company knows the rest of the number, and anyone who might be handling your check as it passes through all the check processing channels won't have access t o it.
3. Put your work phone # on your checks instead of your home Phone. If you have a PO Box use that instead of your home address. If you do not have a PO Box, use your work address. Never have your SS# printed on your checks. (DUH!) You can add it if it is necessary But if you have It printed, anyone can get it.
4. Place the contents of your wallet on a photocopy machine. Do both sides of each license, credit card, etc. You will know what you had in your wallet and all of the account numbers and phone numbers to Call and cancel. Keep the photocopy in a safe place. I also carry a Photocopy of my passport when I travel either here or abroad. We've all heard horror stories about fraud that's committed on us in stealing a Name, address, Social Security number, credit cards.
Unfortunately, I, an attorney, have firsthand knowledge because my Wallet was stolen last month. Within a week, the thieve(S) ordered an Expensive monthly cell phone package, applied for a VISA credit card, had A credit line approved to buy a Gateway computer, received a PIN number From DMV to change my driving record information online, and more. But here's some critical information to limit the damage in case this happens to you or someone you know:
5. We have been told we should cancel our credit cards immediately. But the key is having the toll free numbers and your card Numbers handy so you know whom to call. Keep those where you can find them.
6. File a police report immediately in the jurisdiction where your credit cards, etc., were stolen. This proves to credit Providers you were diligent, and this is a first step toward an Investigation (if there ever is one).
But here's what is perhaps most important of all: (I never even thought to do this.)
7. Call the 3 national credit reporting organizations Immediately to place a fraud alert on your name and also call the Social Security fraud line number. I had never heard of doing that until advised by a bank that called to tell me an application for credit was made over The Internet in my name. The alert means any company that checks your Credit knows your information was stolen, and they have to contact you by Phone to authorize new credit.
By the time I was advised to do this, almost two weeks after the theft, all the damage had been done. There are records of all the Credit checks initiated by the thieves' purchases, none of which I knew about before placing the alert. Since then, no additional damage has been done, and the thieves threw my wallet away this weekend (someone turned it in). It seems to have stopped them dead in their tracks.
Now, here are the numbers you always need to contact about your wallet, etc., has been stolen:
1.) Equifax: 800-525-6285
2.) Experian (formerly TRW): 888-397-3742
3.) Trans Union : 800-6807289
4.) Social Security Administration (fraud line): 800-269-0271
Read this and make a copy for your files in case you need to refer to it someday. Maybe we should all take some of his advice! A corporate Attorney sent the following out to the employees in his company.
1. Do not sign the back of your credit cards. Instead, put "PHOTO ID REQUIRED."
2. When you are writing checks to pay on your credit card Accounts, DO NOT put the complete account number on the "For" line. Instead, just put the last four numbers. The credit card company knows the rest of the number, and anyone who might be handling your check as it passes through all the check processing channels won't have access t o it.
3. Put your work phone # on your checks instead of your home Phone. If you have a PO Box use that instead of your home address. If you do not have a PO Box, use your work address. Never have your SS# printed on your checks. (DUH!) You can add it if it is necessary But if you have It printed, anyone can get it.
4. Place the contents of your wallet on a photocopy machine. Do both sides of each license, credit card, etc. You will know what you had in your wallet and all of the account numbers and phone numbers to Call and cancel. Keep the photocopy in a safe place. I also carry a Photocopy of my passport when I travel either here or abroad. We've all heard horror stories about fraud that's committed on us in stealing a Name, address, Social Security number, credit cards.
Unfortunately, I, an attorney, have firsthand knowledge because my Wallet was stolen last month. Within a week, the thieve(S) ordered an Expensive monthly cell phone package, applied for a VISA credit card, had A credit line approved to buy a Gateway computer, received a PIN number From DMV to change my driving record information online, and more. But here's some critical information to limit the damage in case this happens to you or someone you know:
5. We have been told we should cancel our credit cards immediately. But the key is having the toll free numbers and your card Numbers handy so you know whom to call. Keep those where you can find them.
6. File a police report immediately in the jurisdiction where your credit cards, etc., were stolen. This proves to credit Providers you were diligent, and this is a first step toward an Investigation (if there ever is one).
But here's what is perhaps most important of all: (I never even thought to do this.)
7. Call the 3 national credit reporting organizations Immediately to place a fraud alert on your name and also call the Social Security fraud line number. I had never heard of doing that until advised by a bank that called to tell me an application for credit was made over The Internet in my name. The alert means any company that checks your Credit knows your information was stolen, and they have to contact you by Phone to authorize new credit.
By the time I was advised to do this, almost two weeks after the theft, all the damage had been done. There are records of all the Credit checks initiated by the thieves' purchases, none of which I knew about before placing the alert. Since then, no additional damage has been done, and the thieves threw my wallet away this weekend (someone turned it in). It seems to have stopped them dead in their tracks.
Now, here are the numbers you always need to contact about your wallet, etc., has been stolen:
1.) Equifax: 800-525-6285
2.) Experian (formerly TRW): 888-397-3742
3.) Trans Union : 800-6807289
4.) Social Security Administration (fraud line): 800-269-0271
How to Fly Through Airport Security
ly Through Airport Security
From Wired How-To Wiki
You might as well check your dignity curbside. Soon you'll be shoeless and flustered, spilling comics across the floor as you dig your MacBook from the depths of your duffel. But take a deep breath, frequent fliers: It is possible to pass security with your ego intact. Here's how.
1. Do recon online. Security delays vary widely by concourse and terminal. Go to tsa.gov to find average wait times. If you're not checking bags, print your boarding pass at home and head to the fastest line. (Be sure your gate is accessible from that security checkpoint.)
2. Carry a messenger bag. The topside flap gives easy access to your laptop and Ziploc of liquids and gels while the pockets provide plenty of storage for alarm-trippers. As soon as you get in line, tuck your belt, wallet, keys, watch, and phone into the sack.
3. Wear laceless shoes. And holeless socks. Just think of all the foot fungi of travelers past. Or don't.
4. Go! After you pass ID screening, make a beeline to the shortest x-ray queue. Don't wait to be directed, and don't hesitate to bypass dawdlers. Not only will you get there faster, you'll keep the whole line moving.
5. Use only two bins. Place shoes, coat, and toiletries in the first bin; laptop in the second; followed by the messenger bag. Keep the roller on the floor, where it's easy to manage, until the last minute.
6. Dress strategically. Don your coat and shoes while waiting for your bags. Put on your belt and watch at the gate.
From Wired How-To Wiki
You might as well check your dignity curbside. Soon you'll be shoeless and flustered, spilling comics across the floor as you dig your MacBook from the depths of your duffel. But take a deep breath, frequent fliers: It is possible to pass security with your ego intact. Here's how.
1. Do recon online. Security delays vary widely by concourse and terminal. Go to tsa.gov to find average wait times. If you're not checking bags, print your boarding pass at home and head to the fastest line. (Be sure your gate is accessible from that security checkpoint.)
2. Carry a messenger bag. The topside flap gives easy access to your laptop and Ziploc of liquids and gels while the pockets provide plenty of storage for alarm-trippers. As soon as you get in line, tuck your belt, wallet, keys, watch, and phone into the sack.
3. Wear laceless shoes. And holeless socks. Just think of all the foot fungi of travelers past. Or don't.
4. Go! After you pass ID screening, make a beeline to the shortest x-ray queue. Don't wait to be directed, and don't hesitate to bypass dawdlers. Not only will you get there faster, you'll keep the whole line moving.
5. Use only two bins. Place shoes, coat, and toiletries in the first bin; laptop in the second; followed by the messenger bag. Keep the roller on the floor, where it's easy to manage, until the last minute.
6. Dress strategically. Don your coat and shoes while waiting for your bags. Put on your belt and watch at the gate.
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