Announcing Geezeo Redesign – OPEN BETA!
Now it’s easier than ever to use Geezeo!

We’re pleased to announce Geezeo’s New Design in OPEN BETA!

Help us test functionality and prioritize upcoming features. We want to hear from you. First, take this brief, 3-question survey.

Check our next newsletter for details on all the new, upcoming features.

PLEASE NOTE

Click here to log in and see all the changes we’ve made. We think you’ll be very happy.

As part of the beta you may come across bugs or quirky workflow issues. The more feedback we get, the better we can make the site. Let us know what you think. Comment in our Geezeo Get Satisfaction group.

P.S. Still not too late to “Use Your Right Brain to Fill Your Tank with $500!”.Enter today.

With the economy currently in a downturn, people who are planning and saving for retirement are even more worried about how to make ends meet. Those that are already in retirement find it harder to ride out this bumpy downturn in the economy with the money that they have saved.

Retirees are also being affected by changes in health care insurance. Many companies are not providing the same amount of health insurance coverage as they have in the past.

An article from our partners at TheStreet.com by Gavin Magor explains why health coverage changes after the age of 65 and what you can do about it.

Retiree Health Coverage On the Decline
By: Gavin Magor – TheStreet.com

It is not just the retirees of distressed or bankrupt companies such as Bethlehem Steel, Chrysler, Ford, and GM who are finding that the health care that they had anticipated receiving in retirement will no longer be provided.

According to the Kaiser Foundation, back in 1988, 66% of retirees had company health coverage. By 2003 this had dropped to 38%, and in 2007 it was 33%.

With more companies due to announce similar cutbacks before the Medicare enrollment period, company-paid health coverage in retirement seems to be disappearing into the sunset alongside the defined-benefit pension plan.

Not so fast. The perk of health care in retirement may appear to be going away, but the reality for existing retirees and for many current employees is very different.

Early Retirees Still Covered

Despite the headlines, 30% of companies employing 200 or more, including GM, are leaving health coverage in place until retirees reach 65 and qualify for Medicare, so younger retirees have coverage. Of those companies, 23% continue to offer health care for the Medicare eligible.

The issue is that companies have taken differing approaches to the over-65 group.

Health Care Alternatives

Some companies have stopped providing health care altogether for older retirees, leaving them to obtain coverage under Medicare when they qualify. Others have taken an approach that, in essence, results in company-sponsored health care remaining.

Although there are no current statistics available to demonstrate the extent of the trend, there are several examples of traditional industrial corporations that have removed large health care liabilities from balance sheets.

Instead, companies have substituted these expenses with a smaller quantifiable amount that no longer is included as a health care liability and presents the illusion that health care is no longer provided.

If we look at GM, for example, despite the withdrawal-of-health care announcement, salaried retirees or their surviving spouse at 65 will receive a discretionary taxable increase to their pension of $300 per month. This gives a retiree complete flexibility as to where they spend this money and has been said by some to be more than fair as it represents a significant health care subsidy.

As another approach, both Chrysler and Ford retirees over 65 receive an allowance that is paid into a pooled Health Reimbursement Arrangement. This fund is administered on behalf of the company and the retiree and operates as a source of reimbursement of health care expenses. As the account is shared, either spouse can have their medical bills reimbursed from the HRA, to the limit of the balance in the account.

So, headlines aside it seems that in reality companies are continuing to provide health care, albeit in a different form. This may not satisfy the affected retiree but it is significantly better than the alternative.

Continue to read this article at TheStreet.com…

© Photo Courtesy of Kenn W. Kiser

Related Articles About Retirement and Health Insurance:
Health Insurance Coverage
Breaking News: You’re On Your Own in Retirement
The Best Ways to Prepare for Retirement

Four surprising ways to give to someone else without costing you a dime.
—-
Four Ways to Help Strangers Save Money
By Jeffrey Strain | MainStreet.com

With a minimum of effort, you can make a person’s day while you save them a bit of money.

Even when money is tight, you can do small things that can help out others with little cost or time on your part.

Best of all, these are usually viewed by the recipient as a lucky and unexpected prize.

Here are a few steps you can take:

Drop-Shop Coupons

Drop-shopping is the opposite of shoplifting. Instead of taking something out of the store, you instead leave something inside the store. A great way to help others is to drop-shop coupons you’ve come across but will not use.

Most people who find coupons that they know they won’t use simply throw them into the trash. Instead, keep them and take them with you when you go grocery shopping. As you walk down the aisles, drop-shop the coupons you won’t use next to the items for which they are good.

When the next person who is going to buy that item grabs it off the shelf, there will be a coupon waiting that can be used to save a little extra money.

Also consider drop-shopping coupons for local restaurants. If you have a bunch of restaurant coupons but know that you will only be using a few, take those that you won’t be using and leave them near the door where others can find and use them.

If you print an online coupon, consider printing out a few extras to help others who are eating at the restaurant as well.

For those who are too shy to drop-shop coupons at stores or who often throw away expired coupons, you can still make them useful. Although this will cost a little money in stamps to send a package overseas, military families can use these coupons.

Military families living overseas have far fewer opportunities to collect coupons for the food that they eat and often have a difficult time getting coupons at all. Most military stores overseas accept coupons including expired coupons, meaning that coupons you won’t use or ones that have expired still can have a life.

The overseas coupon program keeps a list of military bases looking for expired coupons.

Give Excess Vegetables

If you are a gardener, chances are that your garden will end up producing much more than you can eat on your own. The same is probably true if you happen to have fruit trees in your yard.

Instead of letting the fruit and vegetables go bad, pick them and set up a small table with a “Free Fruit and Vegetables” sign in your driveway so that those passing by can stop and partake in your generosity.

You will save them some money while also providing them with quality and healthy food at no cost, allowing them to place the money they would have spent on the fruits and vegetables to something else in their budget.

Leave Books, Magazines and Newspapers Behind

Once you’ve finished reading a newspaper or magazines, it usually ends up in the recycling bin.

Instead, consider leaving it in a public area where others interested can pick it up and read. They can be left in waiting rooms, park benches, on public transportation or any other area with heavy foot traffic where they’re sure to be found and appreciated.

The same can be done with books. If you finish a book that you know you will not read again, instead of keeping it on your bookshelf, consider leaving it somewhere for others to read.

Web sites such as Book Crossing encourage you to leave books in public places so that others can find them and you can even track the book’s journey as it is passed on from person to person. By providing these reading materials for free, people can indulge without it making a dent in their budget.

Offer Goods on Freecycle

If you have things around you home that you no longer need but don’t want to sell through a garage sale or on eBay, consider offering them up on your local Freecycle site.

Freecycle is an online group created for each city that attempts to keep items that still have life out of landfills.

People offer items they no longer need for free to others in their community. Once accepted, the person will come to your house and pick up whatever it is your offering so there is no cost to you.

It’s an amazingly simply way to get rid of things you no longer need while getting them to people who want and need them.

Even if you don’t believe the item has value, it could very well save someone money. Quite a few artists use Freecycle to get free material for their artwork. Items that still work can often save people money.

While none of these acts is going to save the recipient a fortune, they will save them a small amount and likely brighten up their day at the same time. When times are tough, everyone needs that.

Several members of the Geezeo community are actively involved with home renovation. For those of you working on your house, or just thinking of ways to live greener (both environmentally-wise and cash-wise), this article is for you.

—-
5 Solar Solutions
By Sean Leviashvili | MainStreet.com

Some companies are struggling to go green, but rumor has it Toyota (TM) is going greener.

Japanese business paper the Nikkei reported earlier this month that the company plans to install solar panels on the redesigned Prius in 2009. The solar panels will provide two to five kilowatts of electricity to power utilities like air conditioners and radios.

Sales for the Prius are booming, especially in light of rising gas prices and the growing go-green trend. But if you aren’t ready to give up your gas guzzler, or simply can’t afford a $25,000 car, there are other ways you can get in on the solar craze.

Take a Look!

It’s in the Bag:

Chargers:

With an internal rechargeable battery, the Solio Classic charger acts as a hybrid giving you the option to connect to a home outlet or accept energy from the sun. The Solio can charge multiple gadgets including an iPod (AAPL), cell phone or digital camera. Check out the range of models ($79.95-169.95) at solio.com. Depending on the amount of sunlight, the Solio charger is capable of charging your gadget in under two hours.

Bags:

To charge on the go, invest in a solar backpack or messenger bag. According to Krissie Nagy, a sales and marketing representative from Voltaic Systems, an hour of direct sunlight will yield 1.5 hours of full cell phone use, or 3 hours of iPod play. Voltaic bags come with eleven different adaptors, including the latest Samsung charger, along with a car charger socket that covers adaptors not included.

Different bags have different charging potentials, and the devices you plan on charging should influence your purchasing decision. Charging a laptop, for example, is only possible in bags yielding at least 17 watts of electricity, such as the Voltaic Generator, available at voltaicsystems.com for $599.

Solar Jackets:

The Ermenegildo Zegna designed solar powered jacket charges devices right in your pocket. But this luxury doesn’t come cheap. The price: $995. According to the company’s official website, www.zegna.com, the jacket uses solar cells on the detachable neoprene collar, and powers devices at 5 or 6 volts, so it can charge your cell phone or iPod, but nothing larger.

AT HOME

Solar Water Heating:

Installing a solar water heating system costs between $5,000 and $8,000, says Gary Trainer, professional engineer for Solarplex in San Antonio, Texas. The installation process requires solar panels and a separate water tank, which works with anti-freeze and your home’s original water tank to produce hot water. The system, Trainer says, can cover 60 to 80% of your total water heating needs. And, while the initial purchase is costly, the long-term payoff is substantial. “After about eight years, you’ll really see the value in the system,” Trainer says. “At that point, the system will basically pay for itself.”

Solar Pool Heating:

With solar pool heating, you can extend your swim season by months. Depending on the size of your pool, buying and installing a solar pool-heating system costs anywhere from $2,000 to $10,000. According to the eere.gov, a branch of the Department of Energy’s website that focuses on energy efficiency and renewable energy, the cost of heating your pool with solar power runs from $7 to $12 per square foot.

Solar pool heating can save hundreds of dollars each year, and according to Trainer, this system has the greatest payoff of all solar heating systems. “The most expensive installment is the conventional grid type stuff, where you use solar power to reduce the energy your in-house utilities use,” Trainer admits. “But it’s not difficult to install a [solar] heating system for your pool for three or five thousand dollars, and the payout is great, it’s about two to four years.”

Solar heating systems all require solar panels (amount will vary based on the system), and a prior consultation to decide if solar power is right for you.

“There are certain conditions where it is just impractical,” Trainer says. “Trees are usually the number one reason, along with space limitation, and limited access to the sun.”

For more information on how to incorporate solar energy into your life, log on to The Department of Energy’s official website.

How to Tell if It’s Good Debt or Bad
By Peter McDougall | MainStreet.com

The economy is struggling, and consumer debt is at an all-time high. Total consumer credit reached nearly $2.6 trillion in May, according to preliminary numbers released earlier this month by the Federal Reserve Board –and that sum excludes loans secured by real estate (e.g. mortgages and home equity loans).

In some cases, consumers are carrying so much debt that they can barely cover their interest charges, much less pay off their balances. This is especially true of credit card debt, where some interest rates are over 20%.

If you have more debt than you can handle — and potentially skyrocketing rates on your adjustable rate mortgage or credit cards — you need a plan. That means figuring out exactly how much you owe, and how best to pay off your bills.

Organizations such as the Consumer Credit Counseling Service of Greater Atlanta (CCCS) can help you set priorities for your debts. And your first priority should be to protect the basics: your sources of shelter and income.

“We encourage consumers to see that their first priority is their mortgage payment or rent,” says Dick Reed, regional counseling manager at CCCS of Greater Atlanta. “Do they need their car to get to work? Then another priority is to protect your car, or your access to whatever transportation you need, to get to work.” After all, if you can’t work, paying down your debt gets a lot harder.

You should also be smart about how you pay down your debt, especially in the case of credit card balances. Reed explains that many consumers take a shotgun approach to credit card debt, where they spread their payments too thin across their various balances. Instead, he recommends paying off the debt with the smallest balance first, while making minimum payments on everything else. Once you’ve paid off one bill, then put that payment toward the bill with the next smallest balance, and so on.

A debt counselor can help you identify your most important debts, and figure out the most efficient way to pay back the rest of your creditors. What’s more, a debt counselor can potentially make your debt more affordable by reducing the interest charges from some of your creditors.

Many credit-counseling services have agreements with unsecured creditors (e.g. credit card companies) that allow them to offer lower interest rates to consumers who are actively seeking help. “If consumers are on debt management plans, they can get their rates to drop from upwards of 21% to 24% down to 7% or 8%,” says Reed. “That can help the consumer get his or her cards paid off a lot quicker.”

Some creditors even offer hardship rates that can drop the interest charges even lower. Basically, if creditors can get their payments at a lower rate, Reed says, they’ll often consider that better than getting nothing.

Finally, remember that while debt and credit counselors can make suggestions, it is up to you, as a consumer, to make sure you are spending your money wisely.

Related:

* What To Do If GM Cut Your Insurance
* Four Against-the-Grain Ways to Save Money

Clock’s Ticking for Student Loan Applicants
By Terry Savage

The credit crunch is hitting the student loan market. And just because your school approved you for a Stafford Loan doesn’t mean you’ll find a bank to fund it — unless you hurry!

That’s the message for students headed off to college or back to school in just a few short weeks. Even if you had a loan last year, it’s possible that your lender will not be willing to come through with money for the fall semester.

In fact, a new survey by TuitionBids.com — a Web site that says it will allow lenders to “compete” for your student-loan business — says that 60% of students needing loans for the fall semester don’t have all their money lined up. Half of those surveyed said they may have to change their plans to attend college if the money doesn’t come through.

Loan Limits Up, Loan Money Down

The message is loud and clear: Don’t wait until your tuition bill is due to check with lenders. Although Congress took steps to create liquidity in the student loan market by making the Treasury a lender of last resort, many banks are still unwilling to add these loans to their portfolio.

With lenders limiting the total amount in their student loan portfolio, many will find it is “first come, first served” for the money that is available.

For this year, Stafford loans limits have been increased to $5,500 for freshmen, up from $3,500. And seniors can borrow as much as $7,500. Subsidized Stafford loans — on which interest does not start accruing until graduation — are based on need, as determined by the FAFSA form.

Even students who don’t think they could qualify based on need may receive approval for unsubsidized Stafford loans, where interest starts accruing immediately but can be deferred until graduation.

The subsidized Stafford loans will carry a fixed rate of 6% when you graduate. Unsubsidized Stafford loans carry a lifetime rate of 6.8%.

Finding Student Loan Money

At SimpleTuition.com you can run a search of participating lenders who are still making student loans and have agreed to work with your college or university — for both Stafford and private loans. Search for the Stafford loans for which you’ve been approved first. Then, you can turn to private loans, typically made with a parent co-signing for a student.

I created a search on SimpleTuition.com for $10,000 worth of loans. At least six lenders were offering Stafford loans — a great place to start looking. On the private loans, lenders’ rates ranged from as low as 4.5% to as high as 14%!

The search also shows you the total cost of repaying that loan. Borrowing $10,000 at the loan rate of just over 14% will result in a total repayment cost of more than $41,500, if you stretch it out over 300 monthly payments. That’s 25 years.

The rate you’ll pay on a private student loan depends on your credit score. In previous years, private loans were made to borrowers with credit scores in the low 600s. But in this credit crunch, you’ll need at least a score of 700 to qualify.

PLUS loans are made to parents, regardless of need. They carry a fixed rate of 8.5% for the life of the loan. Parents who qualify based on credit scores can borrow up to the full amount of the cost of college for the year, less any student loans. Some schools participate in a Federal direct lending program for PLUS loans, and on those loans the rate is “only” 7.9%.

Warning: Don’t Over-Borrow

Kevin Walker, CEO of SimpleTuition.com, has a warning for families: While there is money available if you act quickly, you need to keep your four-year plan in perspective.

Says Walker: “Just because you can borrow huge sums of money for college, it doesn’t mean you should.

You get the picture. You’ll need good credit and an immediate search to find money for college this fall. Don’t delay. But also don’t get so involved in this “treasure hunt” that you forget the ultimate cost of borrowing — either to you, the graduate, or to your parent’s retirement plans.

It’s important to sit down and figure out the costs vs. the benefits. Part-time attendance at a community college may be the answer for some students, who can then transfer and complete their studies at a state school. Even online university degrees are looking attractive these days, if you have the self discipline.

And more expensive schools are going to be forced to give out more of their endowment money in the form of scholarships and grants that don’t have to be repaid.

If they don’t, they’ll be faced with dwindling enrollment as more and more families conclude they simply can’t afford the most expensive version of the college dream. And that’s The Savage Truth.

Related:

* What The Fine Print On Your Student Loan Really Says
* Flip This House, If You Can
* Understanding Your Student Loan Options

Lets be honest, many of us do not read through all of the fine print before we sign a contract. It just doesn’t seem logical. There are pages and pages of fine print writing that they expect us to read. BUT, if you were to read all that fine print…you may be surprised…

Five Bizarre Entries in Banking Fine Print
By: Jack Karp at BankingMyWay.com

Consumer-banking legalese is usually about as boring as you can get.

But lawyers occasionally throw in a catchy phrase, seemingly to relieve the monotony.

About 30 pages deep into an account rules and regulations contract, any consumer who has had the stamina to read that far is asked to “Please Read This Provision Carefully.” Or a promotion will state the obvious: “Repayment terms and payment amounts … may change, if, for example: we change your APR.”

Repayment terms change if they are changed? Thanks for the heads-up.

Here are five of the wackiest clauses in banking:

1. Wisconsinites Need to Shop Responsibly.

“Notice to Married Wisconsin Residents: all obligations on this account will be incurred in the interest of your marriage or family,” says the Chase Freedom Visa Signature Card’s Pricing & Terms provision.

So, Wisconsin cardholders: You are legally bound to behave responsibly when racking up debt.

Where does that leave the rest of the country?

2. Relax guys. Your interest rate won’t vary based on some index. It’ll be changed at the whim of the guy who’s collecting payments.

Even better, “this is not a variable rate tied to an index, such as the Prime Rate,” says Bank of America’s application for a $30,000 personal loan. “It’s a comfort to know your rate won’t automatically fluctuate every time the index changes.”

A predictable interest rate? I’m all for it. But wait, there’s more…

“By ‘non-variable rates’ we mean that the APR will not automatically vary with an index, such as the prime rate. We reserve the rate to change your APR, fees, or other credit terms at our discretion.”

A comfort? That the interest rate will no longer be based on the bank’s cost of borrowing, but rather, on whether it would like to get more money out of the deal?

That’s a favor I can do without.

3. We really want you to know what’s written in the second column of page 32 of your Account Rules and Regulations. Really. It says so right there.

If you — for some reason — happen to have suffered through 32 pages of account descriptions and legalese in Chase’s “Account Rules and Regulations” you’ll be rewarded.

In the second paragraph of the second column (no “Beware of the Leopard” sign, though) consumers are advised — in all caps — to “PLEASE READ THIS PROVISION CAREFULLY.”

The buried provision advices clients that they’ve given up their first amendment right to a day in court: Instead they must go through arbitration.

Think Judge Judy with closed proceedings. The arbitration administrators are dependent on the bank for business, depending on the administrator they may or may not be bound to follow the law and decisions are subject to minimal judicial oversight.

You can guess which party wins the vast majority of the time.

Plus the arbitration administrators forbid class action suits, which means banks have carte blanche to nickel and dime you without fear of legal reprisal.

But that’s not all: In previous clauses Chase also eschewed any responsibility for determining whether a court has any authority over your account before freezing your money. They have a freeze-first-let-you-work-it-out-with-the-unauthorized-entity-later policy. And you’re responsible for any costs the bank incurs in the process.

And if they make a mistake and accept a forged check, any problems you have as a result — even if you warned them of the risk beforehand — are your problem. You might get the money put back into your account, but you can’t go after Chase for resulting damages.

All of these clauses are standard banking practice. Perhaps the only thing that makes Chase unique is that the three provisions all occur in a cluster on page 32.

Continue reading the other 2 crazy clauses at BankingMyWay.com…

Photo: Kevin Rosseel

Other Fun Things to Check Out:
98 Years…All The Wiser
Demetri Martin – Credit Card Tips
Isn’t it Their Turn to Pick Up the Check?

It bears repeating…

Related:
* Are You Financially Illiterate?
* What’s the Best Money Advice You’ve Received?

Your right brain and Geezeo’s Gas Giveaway could score you $500 worth of gasoline (or transit tickets, your choice!).

While you’re flexing your creative side….why not think bigger and go for winning a whole house? MainStreet contributor Brian Walker explains how you can write your way into a house — and donate to a good cause at the same time.

When the housing markets get tough… the tough get creative!

—
Pro Wrestler Marlena to ‘Give Away’ Home
By Brian Walker | MainStreet.com

It’s no secret that the housing market is far less than desirable these days. Home foreclosures are at an all-time high and according to a new government report, home prices across the U.S. fell nearly 5% this past May alone.

So what is a homeowner to do when she’s ready to pack up and move, but encounters an unforgiving market that slows down or prevents the sale of her house?

In the case of Terri Runnels, she’s giving it away.

Runnels may be best known to her fans as Marlena, the World Wrestling Federation diva. These days, though, she’s moved away from the ring, focusing more on her family and charity work.

That focus is what led her to create “Make the World Write,” a national essay contest whose winner will win $100,000, as well as Runnels’ personal home in Gainesville, Fla. That certainly an admirable prize in any situation, but what makes it more unique is how Runnels is trying to navigate the worsening housing market and economy.

“The reason I came up with this,” says Runnels, “is because I was going to sell my house … and the market is horrible.”

She decided if she couldn’t sell it, she would give it away. And with that, Make the World Write was born. The contest is simple: the entry fee is $200, and you must write “how you will change the world for the better,” according to the Web site.

One winner will be picked, and will be given the home, plus $100,000 to put toward making the world a better place. Runnels can get at least a portion of the market value of the home back via the entry fees.

“I believe in paying it forward,” Runnels says. “The worst case scenario I want is that
entrants hone their writing skills and they’ve thought about what they would do.”

And with the economy in the state it is, Runnels isn’t the only one who’s thought to make creative use of it to help out.

“I heard of a lady doing this, only with an essay telling your favorite story about a pet,” Runnels says, which gave her the idea for her own contest.

More and more people are finding the surprising benefits that can be had by literally giving away your house. Similar contests involving the donation of a home have appeared across the country, from Melbourne, Fla., to Danville, Ill., in recent months as foreclosures rise and property values plummet.

Oftentimes, the donation of something like a home can benefit not only the receiver of the new shelter but also the donator, who can possibly qualify for large tax breaks on the donation. Laws are different across states regarding taxing on donations, and something given away as a contest prize does not always apply, but in some cases it does –and in today’s economy, those tax breaks could outweigh the lowering amount you’d receive for selling the property.

With no sign of a housing boom on the horizon, Runnels hopes to continue giving away homes for several years.

“If this goes over with flying colors, I’d love to this same thing every year. The most important thing… is that I’m able to help people in the larger way that I want to. I’m excited about it, and see potential in the future.”

And for Runnels and other families and individuals like her who are feeling the crunch of the economy and the stale real estate market, being able to put shelter over someone’s head, while still receiving some benefits and tax breaks themselves, is all they could ask for.