GOVERNMENT
IN ACTION - The average processing time for an
individual awaiting a decision from Social Security with regard to a disability
claim is 442 days (source: Social Security).
Planning For College --
COLLEGE
COSTS - The cost of tuition, fees, room and board at
an average in-state public college has risen +6.2% per year
over the last 20 years, reaching $15,213 for the 2009-2010 school
year. If college costs had instead risen only by the rate of
inflation (using the CPI) over the last 20 years (+2.8% per year),
then a year of college would cost $7,889 during the current
school year. The consumer price index (CPI) is a measure of
inflation compiled by the US Bureau of Labor Studies (source: College
Board, Department of Labor).
FOUR
EQUALS ONE
-
A student who attended an average
public
college during
the years 1980-84 paid $12,050 for tuition, room and board for
all 4-years
of school. If that same individual, now 23 years removed from the
end of his/her college years, has a child who is attending an average
public college
during the 2006-07 school year, the cost for that child for tuition,
room and board for just
this single year
of school is $12,796 or more than the parent paid for all 4-years of
his/her college education (source: College Board).
Student Loan Payoff Program - to
save thousands of dollars for graduates heading into the job force.
Everyone knows some poor kid who's about to be eaten up by long-term
education expenses that drag along like bad luggage. Give them
a chance at a fresh start, inform them about the program that helps payoff their
loans without having to be repaid!
PAID Professional Search Hogs, Are They
Worth The Cost?
Before you even consider paying somebody who
"guarantees" to find you a bigger pot of financial aid or
tells you that he can turn up scholarships you can't find elsewhere,
check out the following:
The Education Department operates a free hotline for questions
involving student aid. Call 1-800-4-FED-AID (433-3242). FindAid.org
is a free website for financial-aid information. One
especially helpful section, "Maximizing Your Aid Eligibility," offers strategies for getting
need-based aid -- for example, by saving money targeted to pay for
college in your name
instead of your child's.
Two free websites -- fastweb.monster.com and collegeboard.com -- can
match a student's profile to available scholarships.
In addition, most school counselors can help your child fill out
financial-aid applications -- at no charge. And many colleges, high
schools, and libraries run free financial-aid workshops.
(Source: Anne Marie Chaker, writing in The Wall Street Journal)
Planning For Retirement -
WON'T BE
ENOUGH - The median 401(k) account balance for a
person nearing retirement
is only $60,000 (source: Center for Retirement Research).
HOW MUCH IS
NEEDED?
- More than 3 out of every 5 Americans (61%) believe they will
need at least $500,000
in accumulated assets in order to retire (source: Retirement
Corporation of America, USA Today).
SOONER
THAN YOU THINK - 22% of retired
Americans were forced into retirement
earlier than expected due to layoffs, personal illness or injury (source: Sun
Life Financial).
The
Markets -
Disclaimer:
The inclusion of an ad in Jones & Associates does not constitute
an explicit endorsement. It does mean that as far as we know the
product or service, is not a rip-off. When we really like a product and want you to
buy it we'll tell you explicitly. Otherwise, view these ads the way you
would commercials on TV or display ads in the back of your favorite
magazine. Check them out. Make a decision.
