Jennifer's Compass

NECN Ask Jennifer: Teens, summer jobs and saving money

Summer vacation is finally here, and viewers have questions on how to help their teens be smarter with their money.

Money as You Grow – Kids and Money – President's Advisory Council on FinancialCapability

Money as You Grow  was recommended as an initiative from the President's Advisory Council on Financial Capability, chaired by John W. Rogers and vice-chaired by Amy Rosen.

The initiative, spearheaded by Beth Kobliner, chair of the Council's Money as You Grow working group, offers 20 essential, age-appropriate financial lessons—with corresponding activities—that kids need to know as they grow. Written in down-to-earth language for children and their families, Money as You Grow will help equip kids with the knowledge they need to live fiscally fit lives. The lessons in Money as You Grow are based on more than a year of research, and drawn from dozens of standards, curricula, and academic studies.

Money as You Grow is an outgrowth of the Council's Youth Subcommittee, chaired by Amy Rosen with the following members:

via moneyasyougrow.org

20 cool tips to teach your kids about money. (And maybe there are a few reminders for the grown-ups here, too.)

NECN Ask Jennifer: Keeping spending in check

In an effort not to splurge, NECN viewers have questions about keeping their budgets and spending in check.

NECN Ask Jennifer: 401K

If you've ever had to switch jobs, or if a career move is in the foreseeable future, sometimes it's hard to know what to do with your 401k that you've worked so hard to build up.

Filming a video for our new web site!

Filming a video for our new web site. Can't wait to see it! Thank you Good Life Productions! http://www.goodlifeproductions.net/

Older Women Saving Money, Avoiding Loneliness With Roommates, House Sharing - AARP

The time was right for the three 50-something women to pool their resources and buy a house togehter.

Louise Machinist, a clinical psychologist, was ready to move out of her house now that her children were grown. Jean McQuillin, a case management nurse, had just moved into a rental apartment from the home she had shared with her then-husband. Karen Bush's job as a corporate consultant required her to travel often, which meant making arrangements for her cat and fish — and returning to an empty house.

Online home-sharing websites, workshops and meetings for prospective housemates are booming. One such event recently occurred in Sarasota, Fla., where people in the city's Living in Community Network met potential housemates.

via www.aarp.org

This is a great idea that solves so many problems. Remember the TV sitcom "Golden Girls"?

NECN Ask Jennifer: Online security and finances

In light of the recent NSA surveillance revelations, viewers have some concerns about online security.

More Than Wheels helps folks build credit

Glad to see "More Than Wheels" gaining traction in New England. Helping folks build or recover their credit while gaining critical transportation.

Here's the link to a story in BDN Maine

http://bangordailynews.com/2013/01/18/business/new-nonprofit-helps-people-gain-freedom-through-transportation/

Student loan loads block home, car purchases

via rdd.me

It doesn't help any of us, if the next generation of students graduates with too much debt holding the back.

The Backdoor Roth IRA for High Income Earners: A Step-by-Step How To Guide

Greetings.

I normally contribute to Roth IRA lump sum of $5K for previous year before April 15th of this year. While filling taxes (married jointly) for 2012, I realized that my wife’s and mine combined salary is at $185K which is above the limit of $183K. Could you please advise on what options I have to invest in Roth IRA. I have been doing this diligently for last 5 years and so far my returns have been at 47%. I really don’t want to miss out on the contribution.

Thanks!

via www.nerdwallet.com

Nerd Wallet did a nice job describing the "backdoor" Roth IRA. Here's the article. Worth a read if your income is too high to contribute directly to a Roth IRA.