Financial Planner
Weekend Checklist: School’s Out
Things to do this weekend with your money:
School’s out for the summer, but past and future college graduates--and their parents--should take a moment this weekend to review their finances.
* Today: Lower your rate
If you have already started paying off your student loans, check into loan refinancing or consolidation to see if you can get a lower interest rate. Two places to start: the federal government’s Direct Loan program, (800) 557-7394 or on the Internet at https://www.ed.gov, and Sallie Mae, at (888)
2-SALLIE or https://www.salliemae.com.
* Saturday: Plan for student aid
If your child will be a high school senior in the fall, it’s not too early to begin thinking about applying for student aid. Get a Free Application for Federal Student Aid by calling (800) 4-FED-AID, or get it on the Web at https://www.ed.gov. Make a note to call potential colleges Monday to find out their deadlines for turning in the application. Deadlines typically occur from February through August of next year, but you’ll want to take plenty of time to learn how to fill out the sometimes-complex forms.
* Sunday: Check out a new state program
The state of California is about to launch a college savings plan that will allow parents and others to save money tax-deferred for education. For details and to get on the Golden State ScholarShare mailing list, call (916) 526-3027 or visit https://www.csac.ca.gov/scholar/scholar.htm.
Your Weekend Viewing/Listening
Some highlights of this weekend’s business programming. (All times PDT)
Today
* 3:30 p.m.: “Business Center” (CNBC): Former Federal Reserve Gov. Lyle Gramley joins hosts Ron Insana and Sue Herera to discuss interest rates.
* 5:30 p.m.: “Nightly Business Report” (KCET and KOCE)
* 8:30 p.m.: “Wall Street Week With Louis Rukeyser” (KCET) (also airs at 6 p.m. Saturday on KOCE): “The Small Stock Outlook”
* 9 p.m.: “Buffett & Gates on Success” (KCET)
Saturday
* 9 a.m.: “The Motley Fool Radio Show” (KFI-AM 640) on dumbest investments and the America Online and Hughes DirecTV Deal.
* 9 a.m.: “Doug Fabian on Funds” (KLSX-FM 97.1)
* 11:30 a.m.: “Moneyweek” (CNN), also at 5:30 p.m.
* 12:30 p.m.: “Managing With Jan Hopkins” (CNN); “Your Money Matters, With Jonathan Pond” (KCET)
* 1 p.m.: “Money Talk With Bob Brinker” (KABC-AM 790)
* 1:30 p.m.: “Your Money” (CNN)
* 2:30 p.m.: “Suze Orman: The Courage to Be Rich” (KCET) (also airs at 4:30 p.m.): Valuing and respecting money; marriage; homeownership.
* 4:30 p.m.: “Weekend Squawk Box” (CNBC): Standard & Poor’s portfolio manager Robert Natale and Bear, Stearns & Co. lodging and gaming analyst Jason Ader, who will speak about hotel and leisure stocks.
* 11:30 p.m.: “Your Money” (CNN)
Sunday
* 10:30 a.m.: “Wall Street Journal Report” (KABC)
* 3:30 p.m.: “Business Unusual” (CNN): Thomas Hicks, chairman of Chancellor Media. Also, a segment focuses on three companies with the common theme of “building.”
* 4:30 p.m.: “Weekend Squawk Box” (CNBC) (see Saturday, 4:30 p.m.)
Money Savvy Quiz
What’s the biggest source of annual income for current retirees?
a. Company pensionsb. 401(k) plans
c. Individual savings, investmentsd. Home equity
e. Social Security
*
Answer: Social Security makes up about 40% of the income of the average retiree. And 20% of the average retiree’s income comes from wages; 19% from company and government pensions, IRAs and 401(k)s combined; 18% income from assets and 3% comes from other miscellaneous sources.
