Monthly Investment Message: May 2017

Barbara O’Neill, Extension Specialist in Financial Resource Management

Rutgers Cooperative Extension

May 2017

The Benefits of Being a Future-Minded Planner

Want to be a successful investor? Develop your future-mindedness. That is the conclusion of a recent study that found a connection between positive financial behaviors, such as saving and investing, and impulsiveness and materialism.

When people focus on their future they tend to be less impulsive spenders, regardless of their level of financial literacy. In fact, the strongest predictor …

Monthly Investment Message: June 2017

Barbara O’Neill, Extension Specialist in Financial Resource Management

Rutgers Cooperative Extension

June 2017

Income Taxes on Investment Profits

A high priority financial goal for many people is to have a comfortable lifestyle in later life. Investing can help. Most people do not become wealthy from their earnings alone but, rather, by investing a portion of their income and letting it grow for several decades. Through a combination of regular investment deposits and compound interest, it is possible to build …

Monthly Investment Message: August 2017

Barbara O’Neill, Extension Specialist in Financial Resource Management

Rutgers Cooperative Extension

August 2017

Retirement Planning is a 40-Year Journey

The retirement planning process has been described as a “40 (or more) year journey” from the start of someone’s working life in their 20s through retirement in their 60s (or beyond). However, it is actually much longer, if you consider how long someone can live during retirement. Unlike shorter-term financial planning goals like buying a car, a house, or saving …

Data Breaches, Credit Freezes, and Vigilance

Credit Freezes: Description, Pros and Cons, and Contact Information for Credit Reporting Agencies

Members of the Financial Security for All Community of Practice (FSA CoP) and our educational partners have developed research-based and experience-tested materials to help Americans deal with the aftermath of the Equifax hack. Below are links to their online blogs and publications:

Equifax Security Breach: Steps to Protect Yourself (Lisa Leslie, University of Florida IFAS Extension):

To Freeze or Not Freeze My Credit Report (Kathy Sweedler, …

Monthly Investment Message: November 2017

Barbara O’Neill, Extension Specialist in Financial Resource Management

Rutgers Cooperative Extension

November 2017

The Benefits of Financial Health

This article is adapted from a previously written blog post for the eXtension Military Families Learning Network:

After a successful course of treatment, many doctors tell their patients that their physical health status is NED, which is doctor-speak for No Evidence of Disease. The same NED acronym can also be applied to a person’s financial health: …

Impactful Financial Education: How Cooperative Extension is Making a Difference

Extension Pre-Conference |  2017 AFCPE Symposium

Agenda and Attachments

7:15 am      Registration and Continental Breakfast – Sponsored by NEFE

8:00 am      Welcome and Introductory Activity

Erica Tobe, PhD, Michigan State University Extension

Elizabeth Kiss, PhD, Kansas State University Research and Extension  

8:15 am      Evaluation from a National Program Leader Perspective

Toija Riggins, PhD, USDA NIFA

8:30 am      Evaluation from a State Administrator’s Perspective

Michael Gutter, PhD, University of Florida/IFAS   

8:45 am      Getting Extension on the Map: Common Indicators, Common Reporting

Getting Extension on the Map: Common Indicators, Common Reporting

The recently released briefing paper, Cooperative Extension’s Capacity to Demonstrate Impact in Financial Capability and Well-Being: A Briefing Paper,” is a result of almost two years of collaborative effort by Extension FRM professionals to share and document programmatic similarities across the states in an attempt to develop three programmatic tools: 1) a common logic model, 2) a list of program outputs and outcome indicators, and 3) a crosswalk of NIFA indicators to programmatic indicators provided by participants.

It …

What is the “Kiddie Tax”?

Effective January 1, 2008, so-called “Kiddie Tax” rules pertaining to a child’s investment income were changed. The age limit for this tax increased to include children who are 18 or younger and full-time students over 18 but under age 24. Investment income greater than a specified annual amount for a child affected by the kiddie tax is taxed at the marginal tax rate of the child’s parents.

Exceptions apply for children with paid jobs that provide a large portion of …

Can You Direct Deposit a Refund From an Amended Tax Return?

You cannot even have the refund amount direct deposited into any financial account. At the present time (2017), the IRS does not offer a direct deposit option for refunds on amended returns. In fact, there is no place on the form to designate a place for direct deposit.

In addition, only an original tax return can be electronically filed. You must file Form 1040X for an amended return on paper and mail it to the IRS.

The IRS will mail …

Can Non-Cash Donations Lower My Income Taxes?

Yes. Assuming you can itemize deductions using Form 1040-Schedule A, non-cash donations are just as valuable as cash donations. Find some time to gather old clothes, kitchen gadgets, sports equipment, and other closet clutter that someone else could use, donate these items to a qualified chjarity, and you can receive a valuable tax deduction.

Come up with $600 worth of used items to give to your favorite charity, for instance, and you can cut your tax bill by $150 if …