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Discover 5 Tricks We’re just now finishing the summer of 2007, but you can already get behind the wheel of a 2008 new car. Ah, a new car… First there’s the smell. |
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How is it that they all smell like luxurious leather even if the upholstery is vinyl? And those shiny new bodies in colors that somehow seem to match your personality, the smooth way the ignition turns over, all the newest fancy options like DVD players, navigation systems, satellite radio… Whoaaa… time for a reality check! You can dream that way when you’re among friends like us, but don’t you dare let them see you swoon over a new car in the show room. Remember, the car salesman’s job is to get as much for the car as possible, while your goal is to pay the least amount. If that sounds overly dramatic, you should hear some of the horror stories we’ve heard through the years on our national radio and TV shows. Here’s the Dolan bottom line: If you don’t know how to play the game, it can cost you thousands of dollars. That’s why Ken and I are about to level the playing field by revealing 5 inside secrets car salesmen use to get you to overpay. Click here for a little straight talk on the art of the car deal. |
 Invest WiselyA New Type of CD: Buy or Beware?
CD’s are practically guaranteed investments if they are purchased from an FDIC-insured bank. All you do is put a certain amount of money into the CD for a specific time period, and you get a promised rate of return on that money when the period ends. You get a better interest rate than on a checking or savings account because you promise to keep the money in the bank for a set amount of time. If you withdraw it before the CD matures, you'll generally pay stiff penalties. It’s all very straightforward – until now. That’s the way old CDs work – but there’s a new kid in town. These new CDs may give you a higher rate of return, but at what cost? That’s a very important question that I (Ken here) want to answer for you right now. Click here to listen to my special podcast on these new CDs. I’ll tell you everything you need to know – what these new CDs are called, how they work, and one huge difference from old CDs that could surprise the heck out of you if you’re not aware of it.
We can’t tell you how many times a listener or viewer has called us and said, “Hey Dolans! I know you hate insurance, but . . .” Seems we’ve developed a reputation. So let’s set the record straight before we go any further: We don’t hate insurance! We believe it makes perfect sense to buy insurance for the protection of your family in case something should happen to you, your family, or what you own. It also makes a lot of sense to use life insurance for certain estate planning techniques. But here’s what does makes us livid: stories from listeners like Allen in Pennsylvania, who had $400 per month to invest, which someone who stood to gain a fat commission suggested he “invest” in a life insurance policy. Life insurance was never meant to be an "investment," in and of itself! It was invented to protect families in case a breadwinner dies or is unable to work. The insurance industry began creating all of these fancy hybrid products just to sell more life insurance. Let us help you make sure you’re getting the right life insurance without overpaying. Click here to get answers to the three key questions: Who needs life insurance? How much should you get? And what kind of policy is best?
It’s back to school time, and if you have a child applying to colleges this year, we want you to beware of a few scholarship scams out there. You may receive a pitch "guaranteeing" your child a scholarship or you’ll get your money back. All you have to do is send along a fee that ranges from $50 to $1,500, and they’ll do all the work for you… no problem! Yeah, right. What kind of scholarship info will you get for your money? The same information you can find in books costing much less or even free online at web sites such as www.campusconsultants.com, www.finaid.com, www.nasfaa.org and www.petersons.com. If you or someone you know is contacted by one of these scam firms, you’ll be pressured into giving out your credit card or bank account number to hold the scholarship for your child. Don’t do it! This is a BIG red flag. Whether you receive your invitation to attend one of these seminars by mail or email, just say "no." It’s a waste of money – money you could use to help pay for college! |
Until next time... Next week we celebrate Labor Day, which we think is a great holiday because it honors all of you who work so hard to provide for yourselves and your loved ones. In your next issue of Smart Money Moves, we have some important tips to help protect you and your family if something happens and you’re unable to work. In the meantime, enjoy the rest of your week…and have a great holiday weekend! Sincerely,
Ken & Daria Dolan P.S. If you haven’t seen our new report, “What Your Credit Card Company Doesn’t Want You to Know,” your free copy is ready and waiting for you online now. Simply click here to learn 8 secrets your credit card company will never share with you. Think late-payment fees are the only problem with credit cards? Most credit card companies have a half-dozen ways to dip their greedy hands into your wallet. What you must know is in our new report, and it’s yours free. Click here to read it now. |
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“What if I fund a 529 college savings plan for my child and he ends up not going to college?”
This is a great question we get asked often. Here are a few options: You can change the beneficiary to another family member. You can even use it to go to college or graduate school yourself, or you can pass it along to a grandchild, in which case the transfer is treated for tax purposes as a gift from the first beneficiary to the second. Saving the account for someone in the family who will appreciate it makes the most sense, because any withdrawals that aren’t used for college expenses will incur taxes and penalties.
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