Mind Your Money

 

Welcome to the library's multi-author blog and associated resources for increased financial literacy. This program is made possible by a grant from the FINRA Investor Education Foundation through Smart investing@your library®, a partnership with the American Library Association

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For questions or comments about this program, please send email to mym [at] hmcpl [dot] org.

 

 

What you know about investing in retirement may be wrong

You probably know the conventional wisdom: People just entering retirement should have a big portion of their savings—say, 40% to 60%—invested in stocks to help their nest egg grow over time. And as they age, all but the wealthiest should gradually reduce their equity exposure to protect against 2008-style market declines. 

Actually, those who reduce their equity exposure right after retiring and then gradually raise it are less likely to run out of money, says The Journal of Financial Planning. Read more from The Wall Street Journal...

Thanks to Dorla Evans, one of our class instructors, for the tip!

12 Financial Tips for Women

12 financial tips for women
By Dana Dratch
Bankrate.com

While neither gender has an exclusive lock on money management skills, the financial deck is stacked against women. They earn about three-quarters of what men make. In a divorce, they get less of the assets and more of the children.

Read the full story at http://www.bankrate.com/brm/news/pf/20060426a1.asp.

 

$ave $teve

$ave $teve is an innovative, fun way for gamers of all ages to increase their financial literacy. With the help of the Krackle Botz, benevolent robots from another dimension, $teve gains financial knowledge, fiscal responsibility and investment insights on his adventure through secret laboratories and parallel universes.

$ave $teve was developed by Phyllis Schirle and Jim Blanton at The Chesapeake Public Library, in partnership with the Norfolk State University’s Creative Gaming & Simulation Department, as part of the Smart investing@your library program. You can read more about how $teve came to be here.

Morningstar Announced 2013 U.S. Fund Manager of the Year Awards

Morningstar announced the nominees for its 2013 U.S. Fund Manager of the Year awards. The
awards acknowledge managers who not only delivered impressive performance in 2013,
but who have also delivered excellent long-term risk-adjusted returns, and have been
good stewards of fund shareholders' capital. To recognize outstanding fund managers
each year, Morningstar selects leaders in five strategies: domestic stock,
international stock, fixed income, alternatives, and allocation.

For the winners and related article to go:
http://www.reuters.com/article/2014/01/15/morningstar-awds-idUSnPnCGkm5tT+161+PRN20140115

For the video of the announcement on CNBC's Power Lunch
http://video.cnbc.com/gallery/?video=3000236106

 

Just in time for tax season: Download your previous tax returns from the IRS

A small part of doing your taxes might not be so daunting anymore. An official from the United States Department of the Treasury announced today that Americans can now download their tax returns directly from the IRS from the new service Get Transcript. The announcement was made at the White House’s education "Datapalooza," a meeting of hackers and policy leaders that explored how open government data can help the country's education system.

Read more from The Verge

Screenshot of the Get Transcript .gov site

Northrop Grumman hosts the first Mind Your Money Class

Congratulations to our first class! The students, all who are employees of our corporate partnerNorthrup Grumman, enjoyed a light lunch as they began to learn practical steps to a secure financial future. Mohammad G. Robbani, Ph.D., Chair of the Department of Economics & Finance at Alabama A&M University, was the instructor for this session.

Thanks to all who participated, we look forward to the second session on January 28th!

Mohammad G. Robbani, Ph.D. Chair, Department of Economics & Finance. Alabama A&M
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