Well, I did it. (Looked at my retirement account balances)

Each year, about this time after all my account statements have arrived in the mail, I pick a day to enter my various retirement account balances into a spreadsheet. I say various accounts because I have rollover accounts with 4 difference fund companies.

In this very hard economic time, I've talked with lots of folks who have told me that when their retirement fund papers come in the mail, they don't even open the envelope. They'd rather not know how bad it is. I can certainly understand where they are coming from although I do not agree with what they are doing.

After graphing my retirement account balances, I'm down 36% from a year ago. Ouch! But no need to panic. There was a need for me to "rebalance" how I'm allocating my current retirement withholding's. The only way I knew to do this was by looking at my statements.

I take comfort in this as I look at my declining retirement fund balances.

1. God is in control and I'm not.
2. I've got time on my side even at 42 years of age.
3. As I put money into the market now, I'm getting more shares for the same dollars.
4. The Bible tells us to save for the future and saving is a retirement fund is the best way I know how to do that.

Ice and Snow. . . Oh no

Today is one of the worst weather days in some time. So much so, we closed the office and sent everyone home today.

From my kitchen bar, I'm looking out our window and it's almost a white-out outside.

Hot cup of coffee in my hands, laptop with a 9 cell battery (it runs forever on it), a fire in our wood burner and Clark Howard and Dave Ramsey on Itunes. What a neat day.

It's kind of cool how God can slow you down and mix things up with a some snow.

Working on your taxes yet? Direct deposit

I started working on my taxes this weekend. (Along with taxes for by brother and a few friends.) When you're taxes are completed and you've check, double checked and checked one more time before you file them, you'll have one of two outcomes.

1. You owe the IRS
2. You are getting a refund

First, if you owe, don't panic, Start saving now and don't file your taxes until April 15. This will give you about 2 1/2 months to save for what you owe. (Use this same principal if you owe your state and or city) Even if you can't pay 100% of what you owe, please file your return. This will keep you for going to jail.

If your getting a refund, did you know you can have your refund direct deposited into as many as 3 different accounts? I think this is way cool. You could have a few buck deposited into your checking account, a few more into your savings account and even some into your IRA. All you have to do is include form 8888 as part of your tax return and the IRS will do the rest.

By the way, how big is your refund? I blog about why a large refund is a bad idea later on. Stay tuned.

Syncing my office and home computer

I'm a big fan of Firefox web browser. Now I have another reason to love this program. I recently came across a Firefox add-on called Foxmarks.

Foxmarks is a free add-on that syncs and backs up your bookmarks across multiple computers. (For me this is my office PC and my home PC). This is way cool in so many ways. I've often bookmarked a site on my home computer knowing full well I really need that information at work. I usually send myself and email with the web address linked into the body of the email.

Give Foxmarks a try its a very cool and useful tool.

Life Change began again last night

Last night was fantastic. We had 65 people in the room for Financial Peace University. There was lots of laughs during the DVD time and everyone seemed to be open to what Dave Ramsey was sharing.

We then broke out into small groups. I've got 13 people in my group. We had some great discussion and I even received an email already from one couple in the group. In a nutshell, I sensed some real hope in their lives by what they shared with me.

I wish I could covey how great it feels when you know God is using you to change peoples lives. I can't believe I get to do this.

I'm excited about. . .

Yes, I know today's the day we get a new president. That's cool and all but that's not what has me excited.

What I'm excited about is Financial Peace University starts tonight and we'll have over 50 people taking this round of classes. Why am I so excited? Because I know, life change happens in and through our FPU program here at NewPointe.

I have no doubt that people will begin to free themselves from the bondage of payments and debt. Can you sense the joy in me? I hope so.

I encourage you to take steps today to get in control of your finances and not let them control you.

One more reason I love Kiplinger's magazine. $100

I love personal finance. One of the resources I look forward to reading each month is Kiplinger's magazine. It's got some great down to earth financial advise, month in and month out.

A few months back, I took the magazine up on an offer and agreed to take part in their monthly online survey. The ask questions about the magazine. I'm sure there's a great marketing angle in the survey but I don't mind. The survey doesn't take very long and they always "goat' you into taking it by saying, "You'll be entered into a drawing for a $100 Amazon gift card."

Well, I'm here to tell you, the do give away those $100 Amazon gift cards. Today in my mailbox was a letter from Kiplingers. The first thing that came to my mind is "Why are they sending me something in an envelope. Where's the next issue?" To my great surprise, I opened up the envelope to a Congratulations card with a $100 Amazon gift card. Way cool!

See, It pays to read up on your personal finances. Off to Amazon.com

New Tax Deduction related to Real Estate Taxes

Up to this point, you had to have itemized, Schedule A on your 1040 tax return in order to be able to deduct Real Estate Taxes. The IRS has made a rule change that lets those who do not itemize deduct R/E taxes for 2008 and 2009

Real Estate Tax Deduction — There is an additional standard deduction for those who don’t itemize their deductions, but pay real estate taxes. The additional deduction amount is equal to the amount of real estate taxes paid up to $500 for single filers or up to $1,000 for joint filers. This deduction is available for the 2008 and 2009 tax years and increases your standard deduction.

Although most people who own a home pay more than $1,000 in R/E taxes, a $1,000 deduction is better than the zero you got last year. So don't miss this when doing your taxes this year.

Text message in your weekly offering

I'm always on the lookout for and am interested in technology that can help me and our church. I recently came across a new technology by "Ministry Kiosks" that allows you to make your charitable donations via text message.

My first thought when I saw this way, "No way, this is really cool". I watched a demo on the Ministry Kiosks' web site and I'm even more impressed with the technology.

Please give me your feedback on this. Would you consider giving this way? Why or why not?

Today's the Day . . . . Free Financial Advice

I blogged last week about Kiplinger's "Jump-Start Your Retirement Plan Days". Today from 9am to 6 pm est, you can call 888-919-8945 and a Professional Financial Adviser will answer your questions for Free.

Let me know if you called in today.

Secuity Allerts . . . Another weapon in my identitiy protection

I recently did a little digging into my account setup at Chase.com. I bank with Cash. In digging, I started playing around with their "account alerts". I've really come to love them.

I was able to set up alerts to email me and text me when certain things happen on my account. Here's the one's I've set up thus far.

• Transactions or ATM withdrawals exceed specified limits (text & emailed)
  
• My Online ID or Password is changed (text & emailed)
• My mailing address has been updated (text & emailed)
• When my direct deposits have posted (text & emailed)
• Daily account activity (emailed)

Does your bank have this powerful tool? Are you tanking advantage of it?

I like the IRS . . .

Well, I at least like their web site. Believe it or not, the IRS web site is full of great and useful information related to your tax life. This this time of year in particular I visit their 1040 Central page.

1040 Central is a plethora of great information that could save you money on your 2008 taxes and put more money in your wallet as you move through 2009. The sight covers new tax law changes, has online tools and links to FREE tax return sites.

So, as much as people don't like to think about or deal with their taxes, spending some time on the IRS web site may be time and money well spent.

Want some FREE financial advise from a licensed professional?

Checking up on your investments / savings at least once a year is a must. This is even more important these days with the economic turmoil we are in.

Here's your chance to talk with a licensed financial adviser for free. These advisers normally charge between $100 to $250 an hour.

Take your pick on either Jan 13th an again on Jan 30th, Kiplinger's is sponsoring their annual "Jump-Start Your Retirement Plan Days". From 9am to 6pm est you can call 888-919-2345 and a NAPFA (National Association of Personal Financial Advisors) will answer your financial questions for FREE.

To make the most out of your time on the phone with the, list out your questions before you call and it may be a good idea to have your 401k statements in hand as well.

I plan on calling and i look forward to this each year.