Financial Empowerment
"Financial Empowerment" is a service of CalCPA Institute. Monthly podcasts help consumers make sense today’s complex financial issues. All podcasts are under 15 minutes in length.
Questions? Write us at FinancialEmpowerment@calcpa.org.
The Latest
June 2008: Getting Control of Your Debt
Overextended on your credit cards? Do you have difficulties paying your bills? If debt is overwhelming you, San Jose CPA Dan Morris offers advice on how you can control your current debt and suggests ways you can minimize debt problems in the future.
The News You Can Use segment focuses on the benefits for small businesspeople and entrepreneurs that are in the federal government's economic stimulus package.
Download the podcast (Mp3, 5.4 MB)
Links discussed in podcast:
www.nfcc.org
www.sba.org
The archive:
May 2008: How to Teach Children About Money
Parents
should teach children about the value of a dollar as early as possible,
believes CPA Jason Melillo. He's helping his own children understand
financial concepts through games and by getting them to find ways to
save for a trip to Disney World. Melillo provides additional tips that
can make learning about money fun for both parents and children.
The
News You Can Use segment notes the growing longevity of Americans and
what people should do to minimize financial worries in their later
years.
Download the podcast (Mp3, 3.6 MB)
Links discussed in podcast:
http://www.familyeducation.com
April 2008: How Small Businesses Can Succeed in a Recession
Is
a recession good for small business? That sounds counterintuitive, but
if a small business pays careful attention to both its numbers and its
customers, it may even thrive during an economic downturn. CPA and
business consultant Gloria Birnkrant explains what small
businesspersons need to do to keep their firms profitable.
Download the podcast (Mp3, 2.6 MB)
March 2008: How a Recession Affects Home Sales
With
housing prices dropping and many homeowners facing foreclosure because
they can no longer afford their mortgage, this may not be the right
time to sell your house ... or maybe it is. It depends on more than
just what is happening in the economy. Tustin CPA Bob Weinberg provides
some guidance for sellers and buyers in today's housing market.
In
the News you Can Use segment, learn why requesting direct deposit for
your tax refund will speed up your tax rebate. And it also helps if you
have a Social Security number whose last two digits are 20 or below.
Links discussed in podcast:
www.yourhome.ca.gov
www.rcac.org
www.irs.gov
Download the podcast (Mp3, 4.4 MB)
February 2008: Recession-Proof Your Retirement
If a recession
comes and you are nearing retirement, you'll need the proper mix of
investments as well as strong saving habits to ensure a comfortable
lifestyle in the years ahead. Dan Thomas, Newport Beach CPA and a
personal financial specialist, explains what you can do to retire with
a decent nest egg even if the economy suffers a setback.
In the News
You Can Use segment, you'll learn how you can send your child or
grandchild to an elite, private university for next to nothing.
Links discussed in podcast:
www.ssa.gov
www.medicare.gov
Download the podcast (Mp3, 5.4 MB)
January 2008: Credit Card Fraud
Keeping credit cards and
their numbers safe should be a top priority forevery consumer. Thieves
can easily steal credit card numbers as well as personal identification
numbers (PINs) from people who log onto unsecured websites or who don't
monitor their cards while making purchases. San Diego CPA Minel Diaz
provides advice on how you can minimize the possibility of credit card
fraud.
The News You Can Use segment has some suggestions
regarding wise use of the tax rebate the federal government likely will
give taxpayers.
Links discussed in podcast:
www.experian.com
www.transunion.com
www.equifax.com
December 2007: Registered Investment Advisers
Putting
together a good portfolio of investments requires the advice of an
expert, such as a registered investment adviser. Sheryl Rowling, a San
Diego CPA, explains the differences between a fee-based RIA firm and a
broker, who usually works on commission. You'll learn how to select an
investment adviser and more wisely invest your hard-earned money. In
the News You Can Use segment, learn about recent activity by the
Federal Reserve Board that could reduce the likelihood of another
subprime mortgage crisis.
Links discussed in podcast:
www.federalreserve.gov
Download the podcast (Mp3, 4.9 Mb)
November 2007: 529 Plans
A great way to save for a college education--whether it be for your child or yourself--is through a 529 Plan. Every state offers 529 plans, which allow you to place money into investments that grow tax-deferred and which can ultimately pay most or all of college educational expenses. CPA Joe Kovar, who has helped numerous clients set up 529 plans, explains how they work. The podcast also discusses student loan consolidations, and why recent graduates might consider waiting until next summer to consolidate their loans.
Links discussed in podcast:
www.savingforcollege.com
www.scholarshare.com
www.finaid.org
Download the podcast (Mp3, 4.6 Mb)
October 2007: Disaster Preparedness
The fires that swept through Southern California at the end of October underscore the importance of disaster preparedness. Everyone should make sure that important records are secure from fire damage. CPA Mitch Freedman, an expert in disaster preparedness, provides advice based on his own experiences, not only with the fire that approached his own Malibu home but also with the Northridge earthquake of 1994.
Download the podcast (Mp3, 4.6 Mb)
September 2007: Financial Adviser Team
Link discussed in podcast:
Los
Angeles CPA Harold Katz explains why everyone could use a team of
advisers to provide a lifetime of financial guidance. He recommends
that the team consist of a life insurance agent, a disability insurance
agent, an investment adviser, a trust and estate attorney, and a
certified public accountant. The podcast also provides information
about checking on the background of the advisers. The News You Can Use
feature explains how to save money when using ATMs.
www.finra.org.
Download the podcast (Mp3, 4.8 Mb)
August 2007: Financial Aspects of Divorce, Part Two In
the second of two podcasts on how divorce affects a couple's financial
situation, CPA Leslie Dawson talks about the tax consequences of
spousal support, selling the family home and the monetary aspects of
remarriage. She even notes that sometimes couples thinking of divorce
may have second thoughts once they carefully review their financial
situation. Download the podcast (Mp3, 3.3 Mb)
Links discussed in the podcast:
www.courtinfo.ca.gov (Family Court Services Programs)
www.calbar.ca.gov (California State Bar)
July 2007: Financial Aspects of Divorce, Part One
People
thinking about divorcing their spouse should review their financial
situation before filing the paperwork. In the first of two podcasts
about the financial aspects of divorce, CPA Leslie Dawson discusses how
divorce affects a couple's income tax situation, their investments,
life insurance, retirement plans and their joint holdings, such as
residences and businesses.
Download the podcast (Mp3, 3.3 Mb)
June 2007: The Tax Advantages of Buying a Home
Buying a home not only results in a place to live, it also provides
several tax advantages. Angie Grainger, CPA/PFS, discusses expenses
that can be deducted as well as those that can't. She also explains
some of the resources that can be tapped for the down payment and loan.
Download the podcast (Mp3, 11.9 Mb)
April and May 2007: Good Habits For Keeping Out of Debt (Parts 1 and 2)
Just knowing that we need to save more isn't always enough. These valuable tips will help you become more aware of your spending habits and will help you develop the necessary discipline to get back into financial shape.
Download the podcast Part One (Mp3, 11.7 Mb)
Download the podcast Part Two (Mp3, 12.4 Mb)
March 2007: Your Retirement: Start Saving Early
If you want a comfortable lifestyle in your 70s and 80s you should start saving for it in your 20s. This edition of Financial Empowerment helps you get started.
Download the podcast (Mp3, 11.4 Mb)
January and February 2007: Prepare Now for Filing Your 2007 Taxes (Parts 1 and 2)
Putting money in the collection plate every Sunday? Get a receipt! Learn about the new rules for deductions that will affect your 2007 taxes.
Download the podcast Part One (Mp3, 6.2 Mb)
Download the podcast Part Two (Mp3, 5.8 Mb)
November and December 2006: Renting an Apartment (Parts 1 and 2)
There’s more to renting an apartment than the monthly check to the
landlord. There’s also the security deposit, utility bills, insurance,
and other costs. Even your commute can affect whether or not an
apartment is right for you. CPA Mitch Freedman points out what other
factors you need to consider before signing a lease in our second
podcast about renting an apartment.
Download the podcast Part One (Mp3, 6.1 Mb)
Download the podcast Part Two (Mp3, 6.1 Mb)
September and October 2006: Identity Theft (Parts 1 and 2)
Do you need identity theft insurance? Young adults who are the prime target of identity thieves might want to consider it. In our second podcast about identity theft, Michael Eisenberg, CPA, offers additional advice about ways to reduce your chances of having your identity stolen and what you can do should you be a victim.
Download the podcast Part One (Mp3, 5.2 Mb)
Download the podcast Part Two (Mp3, 6.6 Mb)
Links to websites mentioned in the Financial Empowerment interviews
www.consumer.gov/ncpw (interactive games that teach participants about identity theft)
www.consumer.gov/idtheft (information about identity theft as well as forms victims can use to close fraudulent accounts)
www.irs.gov
