Does my Fund Manager Doing A Good Job?

In order to justify the extra cost, multiply your fund's expense ratio by 10.  The result is the % by which it needs to outperform a low-cost index.  For example, a fund with an expense ratio of 1.5% needs to do 15% better than the index, which averaged 6% in 2007.

New Car vs. Saving

Ever wonder what you are giving up in retirement savings when you spend money today?  Well add a zero to the price tag, and that's what you'd have in 30 years if you invested the money and earned 8% per year.  So a $40,000 car today trims your nest egg by $400,000.

How Many Years Will It Take to Double My Money?

Simply divide the number 72 by your annual investment return.  Therefore, if your making 8%, you'll double your money in nine (9) years.

What am I Worth by the Hour?

Divide your annual pay in half, and drop the last three (3) zeros.  For example, if you make $100,000 a year, you would make $50 an hour (based on a 40-hour week.)

Should I Collect Social Security at 62 or 67?

In a nutshell: If your healthy and don't absolutely need the cash, wait.

Accoring to the SSA, the typical 62-year-old man should live until 81, while the life expectancy for a 62-year-old woman is 84. Collecting social security at age 62 cuts your annual benefit by about 25% compared with what you'd get if you waited. The best stragetgy for many couples is for the wife to take social security at 62 and the husband to wait. This is because she can inherit her husband's larger check later.

To get a more precise handle on your benefits, visit the Social security Administration's Quick Benefits calculator at ssa.gov/OACT/quickcalc.

Lost Federal Savings Bonds

If you have misplaced afederal saving bond, you can go to the U.S. Treasury's website at treasurydirect.gov to search for missing bonds all the way back to 1935. You will most likely have to fill out Form 1048, and the cost is free.

No More Lines at the Airport?

For $100 a year, the Registered Traveler Program promises travelers that they can get through security in less than four minutes. The cactch is that there are only 14 U.S. airports (12/31/2007) that participate in the program. Although the program is expanding, it's probably best for business travelers or those who constantly run late to appointments.

For more information aout the program, including a list of cities or how to apply forthe background check, visit flyclear.com.

What am I Worth?

Before negotiating a staring salary or raise,  know what your worth in the market place.  Web sites like salaryexpert.com or payscale.com are a great place to find out the salary range for job.  Another useful guide is the Occupational Outlook handbook from the Labor Department.

Remember to frame the discussion as a benefit to your employer.  At a minimum your employer should agree to match inflation annually, which has averaged 3% over the past decade.  Companies rarely deny merit-based wage increases because pay is the most fundamental tool for attracting and keeping valuable employees.  

Click here for additional information about negotiating a raise from the New York Times.

'Tis the Season

Want to give back to your community?  Click here to find a volunteer position you'd enjoy.

If you want to give money instead of time, consult the following website before making a charitable contribution:  Charitynavigator.org.  When comparing the expense ratios of different charities, remember to compare organizations that have similar missions.  It would be unfair to compare the administrative costs of a food bank to a museum, for example. 

Looking for a new job?

Click here to search for a new job across the web and company employment sites.

Did we leave someone home alone?

Do you constantly worry that you forgot something when traveling?  Click here to make a list of items to take on vacation.

Menu Pages

Click here to order takeout from more than 25,000 restaurants in eight cities, including New York City and South Florida.

Letters of Instruction Sample Form

Taking the time to write a letter of instruction to be found and acted upon after death can save survivors time and expense.  Click here for a sample letter of instruction containing information helpful to survivors.  A few minutes now preparing such a letter can mean the difference between survivors carrying out the wishes of a loved one or second guessing their wishes and extra expense.

IMPORTANT:  The Letter of Instruction should be left with a trusted friend or professional.  Otherwise, it should be left where it can be easily found along with other important documents, including wills and titles. 

Passport Home Page

For more information about how to obtain, replace or change a passport, click here.

New Benefits for Student Loan Borrowers in Repayment

The College Cost Reduction and Access Act (H.R. 2669) is now Public Law 110-84.  This legislation includes a new Income Based Repayment (IBR) program and student loan forgiveness for public service.  To learn more:

http://www.projectonstudentdebt.org

To see how IBR could possibly affect your loan payments, visit this calculator at Finaid.org.