http://ekinsurance.com/financial/what-is-a-certificate-of-deposit/
Are you disturbed by the rates on CDs issued at your bank? There's something you can do about it.
http://ekinsurance.com/financial/what-is-a-certificate-of-deposit/
Are you disturbed by the rates on CDs issued at your bank? There's something you can do about it.
Compound Interest & Rule of 72
Biggest Wealth Killer
High Cost of Waiting
Unnecessary Transfers
Opportunity Costs
Be The Bank
Eleven Ways to “Find” the Money
The REAL Retirement Miracle
Compound Interest & Rule of 72
Biggest Wealth Killer
High Cost of Waiting
Unnecessary Transfers
Opportunity Costs
Be The Bank
Eleven Ways to “Find” the Money
The REAL Retirement Miracle
Learn practical skills to take control of your finances. This presentation was prepared for a statewide partnership with the SC Department of Education Adult Education Division, specifically for GED candidates.
Today's Realities, "Think About It . . . What Would It Be Worth? clyde leverett jr
* Toughest financial era since the Great Depression
* Average US debt is over $16,000 excluding mortgages
* More than one-in-four Americans have no savings / 49%
have no retirement
* Only 18% know they are on track to reach their income
goal in retirement (Source: Forbes)
* 65% have no will, 82% have no trust & 71% have no
power of attorney (Source: Lawyers.com, 2009)
* Every 3 seconds an identity is stolen (Source: Javelin
Strategy & Research Identity Fraud Survey Report,
* About 43 million people have a 599 credit score or lower
http://bondsmakeiteasy.org Doorways to Dreams (D2D) Fund 2D explores low to moderate income (LMI) households' receptivity to savings product marketing using a cutting-edge marketing research tool, the Zaltman Metaphor Elicitation Technique (ZMET). ZMET is an innovative research methodology that elicits insights about human decision making through metaphors and storytelling. Using a sophisticated interview technique, researchers encourage consumers to create stories and identify images about their feelings related to a topic of study. The ZMET tool can deepen our understanding of how to increase saving activity among LMI households. As a result, the two ZMET studies D2D has undertaken focused on how LMI consumers approach (1) money and savings, and (2) their children’s financial futures.
http://bondsmakeiteasy.org During the 2007 tax season, Professor Peter Tufano, founder of Doorways to Dreams (D2D) Fund, collaborated with H&R Block to study offering U.S. Savings Bonds (Series I) at 27 H&R Block tax preparation offices. 3,729 clients with federal refunds greater than $500 received a scripted offer to purchase US Savings Bonds. 220 (or 5.9%) of these clients chose to purchase bonds spending an average of $228 each which resulted in tax time savings of $50,100.
This memo discusses the details of the 2007 tax season H&R Block US Savings Bond pilot which ran for 14 weeks in two cities: Boston, MA and Schaumberg, IL. The paper reviews preliminary findings related to take-up rate, bond purchasing decisions, and buyer data collected through the tax form. This report concludes with some initial interpretations as well as early policy recommendations.
http://bondsmakeiteasy.org For several years, Doorways to Dreams (D2D) Fund has tested strategies to help lower-income working people direct part of their annual tax refunds to savings. During tax season 2009, D2D and partners around the country offered nearly 40,000 tax filers a chance to buy a U.S. Savings Bond with part of their refunds.The findings from the study point to the unique power of U.S. Savings Bonds to re-energize America’s historical orientation toward thrift and to help all Americans participate in saving as a hedge against crises and a resource to enable strategic investments, like a home purchase or college education.
http://bondsmakeiteasy.org This presentation in 2007 by Harvard Business School Professor Peter Tufano and Doorways to Dreams (D2D) Fund Executive Director Timothy Flacke provides information on the promise and potential of U.S. Savings Bonds.
http://bondsmakeiteasy.org Doorways to Dreams (D2D) Fund explores receptivity to savings product marketing using a cutting-edge marketing research tool, the Zaltman Metaphor Elicitation Technique (ZMET). ZMET is an innovative research methodology that elicits insights about human decision making through metaphors and storytelling. This presentation shows application of the ZMET research within the financial services industry, starting with credit unions.
http://bondsmakeiteasy.org An historic opportunity to help all Americans take action to save and strive toward economic independence is now available. The new savings policy the President announced in 2009 takes advantage of the form nearly every American must interact with every year – the federal tax form – and creates a new savings opportunity accessible to the 100 million people who get a tax refund every year. The savings product is a U.S. Savings Bond – a safe, universal, familiar, trustworthy, government-issued savings instrument especially well suited for the small saver, but available to all.
This report is a call-to-action for all Americans to seize this historic moment, transform tax time into a savings event each year and to invest in U.S. Savings Bonds, thus encouraging Americans to embrace saving once more and prioritize thrift over spending in financial preparation for the future.
http://bondsmakeiteasy.org This Guide explores the opportunities and implications of split refunds as they apply to the segment of low and moderate income (LMI) tax filers who rely on Volunteer Income Tax Assistance (VITA) sites to process their taxes. The Guide provides information on split refund procedures, appropriate marketing and messaging for VITA clients, integrating refund splitting into VITA site operations, training volunteer tax preparers, and partnering with financial institutions.
While the Guide is directed primarily at those engaged in EITC outreach and VITA site activity, it might also be useful for financial institutions, advocates of asset building, for-profit tax preparers, public officials, and others who acknowledge the importance of saving for LMI households.
Returning America to Thrift, Savings Bond as Tax-Time ToolBonds Make It Easy
http://bondsmakeiteasy.org For several years, Doorways to Dreams (D2D) Fund has studied the use of U.S. Savings Bonds as a tool to help lower income families save part of their tax refund. From late January to April 15, 2008, in cooperation with H&R Block and 32 community-based tax sites throughout the US, D2D offered US Savings Bonds to over 25,000 lower income tax clients. This paper presents results of this research, including policy recommendations.
http://bondsmakeiteasy.org U.S. savings bonds should be reinvigorated to help low- and moderate-income (LMI) families build assets. More and more, those families’ saving needs are ignored by private-sector asset managers and marketers. With a few relatively modest changes, the savings bonds program can be reinvented to help those families save, while still increasing the efficiency of the program as a debt management device.
http://bondsmakeiteasy.org One of the most auspicious ways to make it easier for households to save, for retirement and other purposes, is by allowing them to directly deposit part of their income tax refund into a savings vehicle. This policy brief examines ways of encouraging households to save at one of their most “savable” moments: when they learn they will receive a substantial federal tax refund.
http://bondsmakeiteasy.org During the 2007 tax season, Doorways to Dreams (D2D) Fund and four Volunteer Income Tax Assistance (“VITA”) sites conducted a U.S. Savings Bond pilot test. From January 22nd to March 31st 2007, D2D and its partners offered Series I U.S. Savings Bonds to 4,841 low and moderate income (“LMI”) tax filers in four cities. This paper presents the results of this pilot, research and policy implications and specific recommendations for action.
Jennifer Schaus and Associates hosts a complimentary webinar series on The FAR in 2024. Join the webinars on Wednesdays and Fridays at noon, eastern.
Recordings are on YouTube and the company website.
https://www.youtube.com/@jenniferschaus/videos
Donate to charity during this holiday seasonSERUDS INDIA
For people who have money and are philanthropic, there are infinite opportunities to gift a needy person or child a Merry Christmas. Even if you are living on a shoestring budget, you will be surprised at how much you can do.
Donate Us
https://serudsindia.org/how-to-donate-to-charity-during-this-holiday-season/
#charityforchildren, #donateforchildren, #donateclothesforchildren, #donatebooksforchildren, #donatetoysforchildren, #sponsorforchildren, #sponsorclothesforchildren, #sponsorbooksforchildren, #sponsortoysforchildren, #seruds, #kurnool
This session provides a comprehensive overview of the latest updates to the Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (commonly known as the Uniform Guidance) outlined in the 2 CFR 200.
With a focus on the 2024 revisions issued by the Office of Management and Budget (OMB), participants will gain insight into the key changes affecting federal grant recipients. The session will delve into critical regulatory updates, providing attendees with the knowledge and tools necessary to navigate and comply with the evolving landscape of federal grant management.
Learning Objectives:
- Understand the rationale behind the 2024 updates to the Uniform Guidance outlined in 2 CFR 200, and their implications for federal grant recipients.
- Identify the key changes and revisions introduced by the Office of Management and Budget (OMB) in the 2024 edition of 2 CFR 200.
- Gain proficiency in applying the updated regulations to ensure compliance with federal grant requirements and avoid potential audit findings.
- Develop strategies for effectively implementing the new guidelines within the grant management processes of their respective organizations, fostering efficiency and accountability in federal grant administration.
Preliminary findings _OECD field visits to ten regions in the TSI EU mining r...OECDregions
Preliminary findings from OECD field visits for the project: Enhancing EU Mining Regional Ecosystems to Support the Green Transition and Secure Mineral Raw Materials Supply.
Monitoring Health for the SDGs - Global Health Statistics 2024 - WHOChristina Parmionova
The 2024 World Health Statistics edition reviews more than 50 health-related indicators from the Sustainable Development Goals and WHO’s Thirteenth General Programme of Work. It also highlights the findings from the Global health estimates 2021, notably the impact of the COVID-19 pandemic on life expectancy and healthy life expectancy.
ZGB - The Role of Generative AI in Government transformation.pdfSaeed Al Dhaheri
This keynote was presented during the the 7th edition of the UAE Hackathon 2024. It highlights the role of AI and Generative AI in addressing government transformation to achieve zero government bureaucracy
Presentation by Jared Jageler, David Adler, Noelia Duchovny, and Evan Herrnstadt, analysts in CBO’s Microeconomic Studies and Health Analysis Divisions, at the Association of Environmental and Resource Economists Summer Conference.
Jennifer Schaus and Associates hosts a complimentary webinar series on The FAR in 2024. Join the webinars on Wednesdays and Fridays at noon, eastern.
Recordings are on YouTube and the company website.
https://www.youtube.com/@jenniferschaus/videos
Jennifer Schaus and Associates hosts a complimentary webinar series on The FAR in 2024. Join the webinars on Wednesdays and Fridays at noon, eastern.
Recordings are on YouTube and the company website.
https://www.youtube.com/@jenniferschaus/videos
2. 2
We Know That Saving is Hard
‣ Challenges lower-income savers face:
• Limited income – a minimum wage worker makes $15K a
year.
• Consumerism – pressure to buy is everywhere.
• Family & friends – often in need, creating pressure to
share resources.
• Few opportunities – most people save with structured
help (e.g., 401(k) plans), but poor people get little or no
such help.
3. 3
Bonds Make it Easy
1. Funds to Save - $100 Billion is returned
to poor families each year
‣ Avg. of $1,680 per household, up to 20% of annual
income
2. Assistance – tax preparers serve as a
trusted adviser to promote saving
3. Convenience – bonds can be
purchased during tax prep process
without any extra steps or follow-up
Assistance and guidance
from a trusted tax
preparer is a critical to
helping tax clients save at
tax time.
4. 4
Purpose of This Presentation
1. Provide background on the Tax-Time
Savings Bond policy
2. Explain Series I Savings Bonds
3. Train you to promote and process Series
I Savings Bonds using Form 8888
5. 5
Highlights of the Policy
Tax filers with refunds of at least $50 can purchase
Series I U.S. Savings Bonds on the tax return
Use IRS Form 8888 to place order
Filers may buy bonds for themselves and spouse if filing
jointly
Filers may buy bonds for two other people as gifts
Bonds are mailed in 3-5 weeks
Must be purchased in multiples of $50
$50 minimum, $5,000 maximum
6. 6
Policy is a Growing Success
0
10,000
20,000
30,000
40,000
50,000
2009 2010 2011
Number of People Impacted
7. 7
Pop Quiz
Which of the following are true about Series I U.S. Savings
Bonds:
A. They pay a competitive interest rate (1.94% currently).
B. They can be purchased for as little as $50.
C. They can only be redeemed where they were purchased.
D. They can be purchased as gifts for anyone else – all you
need is the gift recipient's name.
8. 8
Pop Quiz
Which of the following are true about Series I U.S. Savings
Bonds:
A. They pay a competitive interest rate (1.94% currently).
B. They can be purchased for as little as $50.
C. They can only be redeemed where they were purchased.
D. They can be purchased as gifts for anyone else – all you
need is the gift recipient's name.
All of these statements are true except letter C.
U.S. Savings Bonds can be redeemed at most banks
and credit unions nationwide, not just where they were
purchased.
9. 9
And Another Quiz
How long must savings bonds be held
before they may be redeemed?
A. 6 months
B. 12 months
C. 5 years
D. They may be redeemed any time
10. 10
And Another Quiz
How long must savings bonds be held
before they may be redeemed?
A. 6 months
B. 12 months
C. 5 years
D. They may be redeemed any time
U.S. Savings Bonds must be held for at least 12
months before they may be redeemed.
11. 11
John Q. Saver
123 Main Street
Anywhere, WA 99000-0000
OR Jen Saver
123-45-6789 01 2009
FRB-MPLS
04-15-07
2
:C000090007 :04 000000000000 C000000000I
Purchaser’s Social Security Number
Owner’s Name & Address (Co-Owner Name, if any)
Authentication Stamp
Issue Date
Example Savings Bond
11
13. 13
Main Features
Safe – protected by U.S. Gov’t &
replaced if lost or stolen
Accessible – buy for as little as $50
Competitive – solid return
(1.94%), no fees
Simple – sold at “face value” ($50
buys $50 bond), rate adjusts twice a
year
Long-term – must be held for 1 year
Portable – can redeem at most
banks and credit unions
Q: How many
Americans
currently hold
Savings Bonds?
A: 55 Million.
(That’s 1 in 6!)
14. 14
Savings Bonds as Gifts
Tax Clients can buy bonds for:
• Themselves
• And/or up to two other people
• e.g., kids, grandkids, spouses, nieces /
nephews, godchildren, etc.
Details
• Tax client needs only name of gift
recipient (no SSN)
• Tax client & gift recipient will be listed on
bond as co-owners
• Either party can redeem bond
In a 2008 study, 68% of
buyers purchased
savings bonds for
others, mostly children
& grandchildren
14
15. 15
Bonds vs. Savings Accounts vs. CDs
Typical Savings
Account*
Typical 1 Year
Certificate of
Deposit (CD)*
Series I U.S.
Savings Bond
Rate of Return 0.56% 0.80% 1.94%
Annual Fees $0 $0 $0
Minimum to Open $100 $1,000 $50
Requires Bank
Account
Yes Yes No
Need to be banked Yes Yes No
Chex Systems Review Yes Yes No
May Buy as a Gift No No Yes
*Source: National Average rates, www.bankrate.com
16. 16
Your Role as a Volunteer
1. Explain opportunity –
describe savings bonds & how
they work
2. Seek decision – ask client if he
or she wants to order bonds for
himself or someone else
3. Process order – complete IRS
Form 8888
Tax Preparers Matter
In a 2007 study, 41% of
tax clients who saved
part of their refund
decided to do so only
after meeting with their
tax preparer.
17. 17
Volunteer Materials
1. Form 8888 Script and Guide – gives
guidelines for what to say & how to process
Form 8888
2. FAQ – “Knowledge is Power”
3. Client’s Refund Summary – For client to fill
out while you process Form 8888
18. 18
Form 8888 Example
‣ Taylor Knowles is getting a $700 refund
‣ She wants to purchase:
‣ $400 worth of bonds for her daughter, Tania Knowles
‣ $100 worth of bonds for herself and to make grandson
Shawn a beneficiary
‣ Taylor wants the remainder of the refund to be
sent in the form of a check
How should Form 8888 be completed?
20. 20
Everyone deserves the opportunity to decide for
themselves.
This may be a client’s best saving opportunity all year.
You will get a lot of No’s, BUT you don’t know who will
say YES unless you ask!
Respect everyone’s decision
Remember…
21. 21
The National Campaign
‣Goal: to increase low-income
taxpayer savings through
savings bonds
‣Social Media
‣ www.facebook.com/bondsmakeiteasy
‣ www.twitter.com/bondsmakeiteasy
‣ www.youtube.com/bondsmakeiteasy
‣Results to date
‣ More than 25% of 2010 bond
buyers bought again in 2011
‣ In 2011, 45,000 people impacted
by savings bonds
‣ Goal is 100,000 people in 2012!
22. 22
For more information:
‣ TreasuryDirect.gov – Official Information
‣ BondsMakeItEasy.org – Campaign website
‣ Preeti Mehta, pmehta@d2dfund.org, (617) 541-9065