Credit Freeze

EFFECTIVE AUGUST 1, 2006 - NEW MINNESOTA LAW!!

PROTECT YOURSELF FROM IDENTITY THEFT: Consumers can limit access to their credit information by paying a small fee to have it frozen. If they want to make a purchase that requires a new line of credit they can pay to lift the freeze. Victims of identity theft can have the fee waived. The law also requires credit card companies to take more verification steps when an address on an application is different from one where a solicitation was sent. You will also be notified if someone attempts to access your credit records.

More information here:

http://www.consumersunion.org/campaigns/learn_more/001842indiv.html

Check here to see if it's available in your state:

http://www.consumersunion.org/campaigns//learn_more/003484indiv.html

Bitch-slappin' Qwest

I was headed to a small town last week for a work assignment when I came to a 3-way stop in a semi-remote area. At this intersection, next to each stop sign was an advertising sign. These glossy plastic signs were sitting atop wire holders... much like political signs. However, these were advertising high-speed internet service provided by Qwest.

It is illegal to use public property for advertising. Period. And this practice is not only illegal, but Qwite unsightly.

So I took the 3 signs... and gathered up a couple more later in the day. There is absolutely no law against picking up "litter". Keep in mind, however, that political signs are protected under special freedom-of-speech laws. Advertising signs are not.

I cut 18" by 24" signs into three pieces each. Then I marched myself down to the local Qwest office - with a bag of sign carcasses in hand. I started putting the signs around their lobby... up against the walls, on the phone, on the chairs. Then I said to the Qwest employees, "This is what Qwest is doing to my neighborhood. And it's illegal. Do you think this looks good?"

"Well, sir, you will have to talk with someone in customer service. We just work here.", said the nearest employee. I said, "I will need to talk with a manager... this is illegal and it has to stop."

A minute later a manager came around the corner and asked what he could do for me. I explained that Qwest was breaking the law, and that advertising in the public right-of-way was illegal. He seemed surprised at that comment and I said, "I would think Qwest would be aware of laws regarding the use of the right-of-way."

"It's illegal and Qwest needs to stop."

"Thanks for letting us know, sir."

And he began picking up the signs as I walked out.

Corporate bastards.

Litterbugs.

TUIF

Thank Unions It's Friday.

(From the people who brought you the weekend)

My pants

I own lots of pants. I have two pairs of jeans that I wear regularly, plus a pair that are a little too big, which I only wear around the house - I have to keep pulling them up a little. But, it's not like they are hanging off my ass like the kids wear these days... that's just stupid looking. How do you expect to run away from the convenience store you just robbed with your pants down around your ankles?

I have two pairs of nylon "work-out" pants. They are great for windy, chilly days or for working in the attic. (they keep out the fiberglass particles)

Now dress pants are practically falling out of my closet. I have two pairs of cords, no not like from the 70's, but nice looking. I have tan pants, green pants, blue pants, black pants and more tan pants. Fortunately I don't have to wear ties at work, so I can wear khaki's and polo-shirts most days. There are also the pants that go with my suit, but they don't see daylight too often.

I have at least 10 pairs of shorts. Jeans shorts, dress shorts and some sweat shorts. We aren't allowed to wear shorts to work anymore, so I look forward to evenings and weekends when I can put them on. But, are shorts really pants? Who cares.

There are lots of pairs (why are they called pairs, if there is only one) of sweat-pants in the wardrobe too. Plain grey, bright blue, flannel and my favorite - a pair of Sponge Bob Square Pants sweat pants.

I also own a pair of "chef-pants". They are heavy cotton, black and white checkered with an elastic waist and tapered legs. They are quite sporty looking when worn with a red or yellow shirt.

Next time...

Socks!

The ROTH Myth

"Roth IRA's are tax-free and all of the earning are tax-free, so it must be better than a traditional IRA or 401(k)"

That's the sales pitch. Here's the reality:

From a purely mathematical perspective (what else is there that matters?), a Roth IRA is advantageous ONLY to those who are in a lower tax bracket NOW as opposed to the bracket they are in when they plan on withdrawing the money. When you invest in a Roth IRA, you lock in your tax rate on all of your investment and your returns now. Forever. If you are always in the same tax bracket, it doesn't make a difference.

Example: You pay 25% total in state and federal income tax now and in retirement. If you put $3000 into a Roth IRA, it actually cost you $4000 in earnings to make $3000 after taxes. If you compound that investment of $3000 over 20 years at 8%, you would have $13,982.87 left to spend.

If you placed the $4000 "pre-tax" into a traditional IRA or 401(k), and compounded that investment over 20 years at 8%, you would have $18,643.83 in your account.

If you apply a 25% income tax to $18,643.83, you end up with $13,982.87 left to spend! A Roth IRA has no mathematical advantage if you are always in the same tax bracket.

Variables:

1. Your income. If your income drops when you retire, chances are your tax rate will be lower. If your income goes up in your retirement years, your tax rate may be higher.
2. Tax rates. We can't predict the future... will taxes go up or down?
a. If your tax rates go up, you would have wanted more money invested in a Roth IRA
b. If a flat-tax is adopted, you may have wanted more money invested in tax-deferred vehicles.
3. Location. If you move to a state with no income tax, you total taxes may be lower.


Other considerations:

1. A Roth IRA does not have a required distribution at age 70 1/2, if that's important to you.
2. You can withdraw principal from your Roth after 5 years with no 10% penalty.
3. Each person's (or couple's) situation is different.
4. Diversification among pre-tax and after-tax investments may be a solution.

Don't be scammed by someone saying, "All of the interest is compounded tax-free." They aren't looking at the math behind their statement. Please examine your own personal situation, goals and plans, tax rates and income before making an investment decision.

The Federal Government didn't come up with the Roth IRA to let you get out of paying taxes. They came up with the Roth IRA to get you to pay income taxes on your retirement account NOW, instead of later. They don't care what your tax rates are in the future... they can't spend your tax money unless they can get their hands on it.

P.S. I have a Roth IRA. And a 401(k). And my wife has a traditional IRA. I don't know what tax rates will be when I retire, but I know how each of them works.

I got two cases

http://www.kraftfoods.com/main.aspx?s=product&m=product/Product_display&Site=1&Product=0069966121

Vanilla, Strawberry, Orange, Lemon, Lime and Chocolate.

Yes, Chocolate.

Time for a break

Okay, so I’ve been a little busy lately… sorry. But due to declining participation, the acronym challenge will take a break for a while. Perhaps I’ll bring it back in a while. So the final winner for the time being is Thérèse for “Wanted: One Magnificently Endowed Ninja”, although there were some close “seconds” such as my very own “Wide Oval Motorway Entertains: Nascar” and Paula’s “Wet Orgy Means Everyone's Naked” and last but not least, Grend31’s “Witticisms Only Make Esoteric Noise.”

Merry Christmas everyone!


The winner's circle:

Week 14: Thérèse for WOMEN
Week 13: VegasGustan for SNIFF
Week 12: Grend31 for GIRLS
Week 11: MooCow for UNDER
Week 10: VegasGustan for PANTS
Week 9: Grend31 for STORM
Week 8: Paula for BACON
Week 7: Paula for SMILE
Week 6: Dewdew for GROSS
Week 5: Paula for ANGER
Week 4: Beowo1= for HOMER (DOH!)
Week 3: VegasGustan for EARTH
Week 2: Thérèse for WATER
Week 1: Grend31 for FIRED

Thanks for playing!