Update on “Is your money safe?

A few days ago one television news report showed a woman who had her family funds in an FDIC insured bank. Yet she said she still lost over $20,000. Why? She did not realize that she was over the monetary limit because of recent changes to her and her husband’s financial picture. When you check to see if all of your finances are insured, don’t forget to check your retirement account, savings, CDs, etc. Check and double check everything.
Today was an historic day in our nation and especially on Wall Street. The President asked for a $700 billion bailout for the financial industry and the House of Representatives voted, “No!” Wall Street responded with the Dow Industrials dropping 777 points and NASDAQ losing over 9% of its value, the largest single day’s percent drop since 1987.
What will tomorrow bring?

Is Your Money Safe?

A few banks have failed, some businesses have gone belly-up, many people have lost their homes, job losses are high and gas prices are exorbitant. The near failure of our economy was caused in part by poor mortgage practices, shaky loans, bad investments and stock market losses.
In light of the government’s request for a $700 billion bailout for the U. S. financial market which will cost every U. S. citizen, including our children, approximately $5,000 each, you need to know if your money is safe. If the bailout isn’t approved, our financial markets will collapse according to President Bush, U. S. Treasury Secretary Henry Paulson, Federal Reserve Chairman Ben Bernanke and the “experts” on Wall Street.
I am not a financial expert, but I will give you information on where to get the info you need. Is your money safe?
Quoting the Federal Deposit Insurance Corporation website, “The basic insurance amount is $100,000 per depositor per insured bank. Certain retirement accounts, such as Individual Retirement Accounts, are insured up to $250,000 per depositor per insured bank.” HOWEVER, you must check out this information for yourself and your family. Do not depend upon any advice given by just anyone.
The website that you should go to for banking information is www.fdic.gov or to www.myfdic.gov.
For credit union information Google the National Credit Union Share Insurance Fund (NCUSIF) and Google Excess Share Insurance (ESI). You may be able to determine how much of your money is actually insured.
Now is the time to become informed.

Protect Your Money: FDIC Information

The economic picture in the United States is frightening especially to seniors who lived through the stock market crash in 1929 and the Depression. Years ago, my late father told me that he lost the money he saved from his paper route when his bank failed. He said it wasn’t much, but it was important to him.
But now the government insures our money for up to $100,000 for each depositor in each bank or thrift institution. This is done through the Federal Depositors Insurance Corporation or FDIC. Separating your money into different branches of the same institution doesn’t increase the insurance protection. You are still one depositor. Accounts include savings, checking and CDs or any other accounts in that institution. It is very important that you know exactly how much you have and where all of your funds are located. Very important banking information can be found at www.fdic.gov. Also a copy of the FDIC publication, Your Insured Deposits, will give you important banking information about federal deposit insurance. Or call FDIC’s Central Call Center at 877-275-3342.
The website may also give you information on banks that have failed. It is wise to check before you lose all that you have saved.

More Travel Tips

If we are traveling with our adult children and young grandchildren, we let each person pick one or two activities and places to eat. This gives everyone something to look forward to no matter where we are. For example, I don’t like carnival rides but my husband does. He rides with the grandchildren while I take pictures of them. Of course, we try to introduce the youngsters to new activities whenever possible. Putt-Putt golf was a hit with the grandchildren. And a stop at a McDonald’s is always a treat for them.
Swimming, attending the state fair, riding the train and petting the animals at the zoo are some of the activities we have enjoyed together. We have heard some people make negative comments about taking grandchildren on vacation. For us, these family oriented vacations are fun and help expose children to adventures they enjoy.
But, of course, my husband and I often travel alone. I first learned to play golf last year. Since then we have played golf together in six different states. Some of the beautiful golf courses are picture worthy.
One of our favorite trips was on the Dave Koz Jazz Cruise. We enjoyed the talented musicians, great singers, delicious food, fun activities, great shopping, informative site seeing, and the friendly people we met on the cruise ship. It was a perfect romantic vacation. That is a trip we will take again some day.

Travel Tips

My husband and I have returned from an extensive, fun filled vacation. We’ve made some significant changes in the way we travel. I now pack fewer clothes because many airlines are charging for a second checked bag. Some even charge for the first one. At least one airline charges $100 for a third bag; and the dimensions of a carry-on bag are limited.
To stay under the luggage weight limit, we now take three carry-on size suitcases at the most for long trips and wash clothes if necessary. We check two of the bags and my husband takes the third one. I carry a purse and a smaller carry-on for books, healthy snacks, water (purchased after going through security), travel Scrabble and our meds (which should never be in checked bags). Finding more light weight, wrinkle resistant clothing will also help us stay under the luggage weight limit and will make washing our clothes more convenient. I plan to do a catalog search for travel magazines that specialize in this type of clothing.
We have always booked non-stop flights whenever possible. We may have to take one- and two-stop flights because the price has increased for some non-stop flights. Also the idea of taking the train sounds more and more appealing to our budget conscious minds.
Internet searches for possible destinations, accommodations and weather conditions help make our trips care free. I record in my small notebook the pluses and minuses of our trips so that we’ll know which vacation spots we may wish to visit again.
This senior has learned to relax and find pleasure every day whether I am on vacation or having a “staycation.”

On the Cusp of History

We are on the cusp of an American, historical political change. As seniors, many of us never thought we would see this in our lifetime. This year we will elect the first African American--a male--as president of the United States of America OR the first white female as vice president. Our country has always elected white males to these two top positions.
The political campaigns of both major parties have called for "change." Some governmental changes have included the introduction of females and African American males to the Supreme Court. We have seen women and minorities become city council members, mayors and state governors. Other occupations previously closed to women are now commonly held by women. Police chiefs, bus drivers, construction workers and electricians may be female. But this year's political change is significantly different.
An African American male as a Democratic president or a white female as a Republican vice president. Which ticket will I choose? Hmmm. It's called a secret ballot for a reason.
Don't forget to vote?