• One Anniversary I’d Rather Forget • Be Richer This Time Next Year • The Application Heard Round the World • Until Next Time… I enjoyed the video on credit freeze. I would like to know what is the safest way to initiate the freeze. Is it via computer (putting your Social Security Number in an email?), by registered mail, etc…Thank you for all the information my wife and I obtained from your radio program and now from your excellent website. --Bob Thanks for the email Bob, and we're glad you enjoyed Daria's video. For those who haven't seen it, click here to view it now and find out about this important new way to fight identity theft. Before we tell you the best and easiest way to put a credit freeze on your account, let’s define it for anyone who missed that information. A credit freeze is a “lock” on your credit report that bars credit card issuers, lenders and others from reviewing the summary of loans and payments that makes up your credit history. Without that important information, lenders won’t issue credit. It also makes it far more difficult for scam artists to set up fraudulent accounts in your name. So, Bob — here’s how to do it. CALL the individual credit agencies (Equifax, Experian and TransUnion), give them your Social Security number (that’s what identifies you) and request that a freeze be put on your account. Experian and TransUnion do not charge identity theft victims to put a freeze on their credit files, but do charge $10 each to non-victims to put on a freeze unless your individual state dictates a lower fee. Equifax has not yet announced their fee to freeze, but it is likely (in our opinion) they will follow the other two credit reporting agencies and also charge $10. It will also cost you $10 (Equifax, again, likely to follow the other two agencies) to “unfreeze” your account each time you apply for credit (mortgage, car loan, etc.) Should Social Security Be Privatized? Everyone agrees that Social Security cannot survive in its current form with 80 million Baby Boomers draining the system in the coming years. How to fix it is a hot button that nobody wants to touch. One of the much debated and controversial proposals is to privatize Social Security. Since no one in Washington is capable of having a sane debate on the subject, let’s have one here at Dolans.com! What’s your take on this important issue--do you think Social Security should be privatized? Yes No Let us know your thoughts, and stay tuned. Ken and I will share our take on this critical issue in an upcoming Smart Money Moves.  Got the Business Bug? If you're starting a new business, or even just thinking about it, here's a tip for you: Study the competition's products until you know their strengths and weaknesses inside out. Point these out to investors and show how your product overcomes these weaknesses and is stronger than those of the competition. Check out our favorite small business website, SCORE.org, for lots more very helpful information for all you entrepreneurs and would-be entrepreneurs. Oh, and stay tuned for some exciting news in the coming weeks that involves our friends at SCORE and Dolans.com!

Invest Wisely
One Anniversary I’d Rather Forget

I don’t know what you did last Friday, but I (Ken here) tried not to think about what day it was. I know that sounds a little weird -- even for me! -- so let me tell you why:

Friday was the 20th anniversary of the 1987 stock market crash - and what an anniversary it turned out to be!

For those of you who need a little refresher, October 19, 1987 was called "Black Monday" because the Dow absolutely tanked. I mean fell off a cliff. It plummeted 22.6% (508 points), the largest one-day drop in history.

Fast-forward to the end of last week, and the Dow fell another stomach-churning 366 points because of many factors -- an overheated market, disappointing corporate earnings and continuing problems in the sub-prime mortgage market.

While Friday was no fun, it didn't come close to rivaling what happened in 1987. I can’t believe it’s been 20 years because I remember it like it was yesterday.

Daria and I had taken a year off from radio to work on our first book, Smart Money. During the course of that fateful day, as the tragic drama began unfolding, a lot of our friends and neighbors were calling us asking why their brokers and mutual fund companies were not answering their phones. Millions of other friends and neighbors were trying to get through to their financial institutions at the very same time as they tried to escape the market meltdown by selling their stocks.

As it does every October, thinking back on Black Monday always stirs up a round of "could it happen again?"� debates. In a way, it is happening again now. Just think back to Friday, of course, but also to several other days in recent months when the market has moved 200 and 300 points.

There’s no question the market is a lot wilder than it used to be, and a lot of folks are very concerned about this. Daria and I hear from them all the time on our radio show and when we give seminars. Well, let me tell you a little secret: Daria and I have been through a lot of bull and bear market cycles in our time, and we're here to tell you that you can invest in a market that is often volatile and still sleep at night.

Click here to watch this special video and let me share several Smart Money Moves to help you do just that, including our number-one tip that is as true today as it was 20 years ago.

Live Richly
Be Richer This Time Next Year

Do you exercise regularly? If so, good for you. We try to as well, but we admit we’re not always successful. When we are, though, there’s nothing like working up a good sweat.

When it comes to your money, however, nothing could be further from the truth.

If you have to break a sweat with your money decisions, you’re probably making things too hard on yourself. We believe that the best ways to save and invest money are the easy ways. If a strategy is too difficult or an investment too complex, chances are it won’t really work out for you in the long run.

That’s why we have some simple, straightforward ways to grow your wealth. Click here to discover 5 ways to be richer by this time next year. You’ll be surprised at how easy they really are!

Retirement
The Application Heard Round the World

Did you hear the news? The first baby boomer has applied for Social Security!

This is a big deal. Over the next 18 years, nearly 80 million people will follow in the footsteps of Kathleen Casey-Kirschling, the official first baby boomer. Social Security Commissioner Michael Astrue calls it “America’s silver tsunami"…and we think he’s right. (No comments about Ken’s silver hair, please.)

Seems that Kathleen was born one second after midnight on the first day of 1946, so she really is the first Boomer. Amazing, huh? Next year, she’ll turn 62 and become eligible for Social Security benefits. She submitted her application last week.

As we talked about in last week’s Smart Money Moves, the question of when to start receiving your Social Security benefits is a heck of a lot more complicated than it used to be. This is a critical decision for all of us, so if you missed our special audio alert, click here to listen to it now. We’ll tell you what factors you need to consider to make the best decision for you.

That’s just the beginning. We have a ton of other helpful information for you at Dolans.com on Social Security. In particular, we recommend:

• Social Security 101
• How to Apply for Social Security Benefits
• Our Social Security Retirement Income Estimator

We also have a lot of advice for in our Retirement Center. Be sure to check it out as well.

We want to help you live the life you’ve dreamt of in your retirement years. They really can be the Golden Years!

Until Next Time…
 

Speaking of boomers, retirement and having fun, be sure to watch for two very special videos in the coming weeks on Dolans.com. One will be about “Baby Boomer Downsizing.” This is a strong trend we’re seeing and hearing about everywhere, and there’s a lot to be said for simplifying your life. There are some great ways to do that, and we’ll talk about them in the video.

The other video is somewhat related. It will be a whole discussion of renting a home versus buying a home for you boomers out there. As you may remember, we’re in the process of selling our current house (great timing, huh?), and we are seriously considering renting our next one -- at least for a time. Stay tuned to find out why, and we’ll help you decide if renting could be a smarter move for you.

Have a great week!

Sincerely,

Ken & Daria Dolan

P.S. I hope you joined me for Coffee with Ken this weekend. If not, you missed our discussion about Friday’s crazy day in the stock market, and some lessons we learned from it and the crash 20 years ago. I also passed along some important information about canceling or selling your cell phone plan, the latest news about Social Security increases, and much more. Click here to give it a listen. And don't forget to join me every weekend for Coffee with Ken. It’s easy. We post it right there on the home page at Dolans.com, and all you have to do is click to listen. (Don't tell Daria, but it's one of my favorite parts of Dolans.com!) Talk to you on Saturday.