The Survive and Thrive Boomer Guide

Facts and Figures for July Fourth 2020

It's an unusual year for the annual July 4th celebration in the United States. The coronavirus pandemic has changed everything, and now that cases throughout the nation are spiking, it's time to rethink things again.

The best plan for celebrating is to stay home. If you invite people for a barbecue, keep the number small and have them bring their own food and drinks. Set tables up in your yard with social distancing.

Hopefully, things will be better by next year.

Source: WalletHub

Copyright 2020, Rita R. Robison, Consumer and Personal Finance Journalist

Fourth of July Sales and what to buy and not buy in July

What are your July 4^th plans?

This year, three-quarters of consumers plan to celebrate Independence Day, down from 86 percent in 2019, according to a survey conducted for the American Retail Federation. Much of the decline is because fewer consumers plan to go to traditional celebrations such as a fireworks show. Only 24 percent said they plan to celebrate the Fourth by attending a community celebration, compared with 41 percent last year.

Consumers plan to spend $76 on average, which about the same as previous years. And more than half of consumers expect to plan a cookout or BBQ.

Independence Day sales

July 4^th sales are underway. It’s a good holiday for discounts and brings savings on many items, according to DealNews.com.

Sign up for my newsletter and get 10 helpful financial tips each week

For several months now, I’ve been writing a weekly newsletter called “Helpful Money Tips for You.” If offers the latest information on how you can get what you want for your money.

This week, I came across a most helpful tip. It's to check your rewards cards, especially those related to travel since you might not be traveling now, and see what your balances are and what you can do about rewards.

I checked with one credit card, the one I usually use for airline tickets and travel. I only have about 1,700 points. The credit union redemption center said I’d need 2,500 points to get a $25 gift card. I’ll start using that card for groceries and other purchases to get the cash back. The points don’t expire until March 2022.

On my other card, I have about 36,000 points. That’s the one I’ve been charging my groceries and Amazon purchases on, a lot of Amazon shopping going on during Stay Home, Stay Healthy. It doesn’t have a cash back option. I can get three Visa gift cards for $100, costing 11,000 points each. Or, I can get gift cards for a specific store or Amazon, $350 for 36,000 points.

That’s exciting news. I’ll give some thought on what to spend $300 to $350 on because I’m not traveling to Spain (like in the photo above) and my daughter and her family won’t be coming this time of year to visit from Spain. And we won’t be going to Sacramento to visit my daughter and her family there in July, like we usually do.

So, this is the kind of helpful financial information you can get from my newsletter. Sign up by clicking on this link: eepurl.com/gkZ6JH. Or, fill out the form on the upper right of this page. Thanks. I look forward to getting your feedback.

Copyright 2020, Rita R. Robison, Consumer and Personal Finance Journalist

President can fire head of consumer financial bureau, Supreme Court rules, but says actions of agency stand

The U.S. Supreme Court ruled Monday that a law protecting the director of the U.S. Consumer Financial Protection Bureau from being fired for any reason by the president is unconstitutional. The court, however, rejected arguments that actions taken by the CFPB must be undone as a result.

Instead, the court “severed” the protection provision from other laws governing the agency and declared that it’s unenforceable. As a result, the president now has the power to fire the CFPB’s director whenever he or she wants.

Public Citizen, along with Americans for Financial Reform Education Fund, the Consumer Federation of America, Consumer Reports, the National Association of Consumer Advocates, Tzedek DC, and the U.S. Public Interest Research Group Education Fund, filed an amicus brief defending the agency.

Watch out for phony offers for work-at-home jobs targeting college students

Students at colleges and universities are being targeted by a work-at-home employment scam through emails that appear to be sent from a college or university. The scammers obtain personal information from the student while posing as a college or university representative. They convince students to cash counterfeit checks and send them the money.

“Students who fall victim to this scam could face serious repercussions to their financial stability and credit record,” said Florida Attorney General Ashley Moody. “I am urging all students currently enrolled at Florida colleges and universities to take extra precaution when receiving online job offers.”

The scheme involves scammers sending online job advertisements offering college students an administrative position, tricking the student into believing the email is from a college or university representative by using an email address ending in “.edu.” As part of the scheme, the student receives counterfeit checks in the mail, or by email, and is instructed to deposit the checks into a personal checking account. The scammers then direct the student to withdraw the money and make a payment necessary for the job. Often, after the student sends the money, the checks are confirmed to be fraudulent by the bank.

Facts and figures for Father’s Day 2020

The first Mother's Day was celebrated in 1914, but a holiday honoring fathers didn’t become official until 1966, when President Lyndon Johnson declared that the third Sunday in June would be Father's Day. President Richard Nixon made this proclamation permanent in 1972. However, Father’s Day was celebrated before then.

The idea for Father's Day is attributed to Sonora Dodd, who was raised by her father after her mother's death during childbirth. While listening to a sermon at church on Mother's Day, she thought about all her father had done for her and her siblings and decided fathers should have a day, too. Because Dodd's father was born in June, she encouraged churches in her area, Spokane, Washington, to honor fathers that month. The first Father's Day was celebrated in Spokane in 1910.

Over the years, the idea spread, and people lobbied Congress to establish the holiday.

Shopping

This year three-quarters of consumers say they plan to celebrate Father's Day, according to the annual survey conducted for the National Retail Federation. While fewer consumers expect to take their dads out for Father’s Day, they’re planning other ways to celebrate.

Make sure a scammer isn't getting employment benefits in your name

In Washington state where I live, scammers have stolen hundreds of millions of dollars in employment benefits. The state, in a hurry to get payments to people needing funds during the pandemic, didn't have adequate safeguards in place to stop crooks. Now, the process has been slowed down to do more checking.

How are scammers doing this? They're filing claims for unemployment benefits, using the names and personal information of people who haven't filed claims. People learn about the fraud when they get a notice from their state unemployment benefits office or their employer about their supposed application for benefits.

If this happens to you, it means someone is misusing your personal information, including your Social Security number and birth date, said Seena Gressin, attorney for the Federal Trade Commission's Division of Consumer and Business Education. Gressin said to act fast using these steps to help protect your finances and credit:

Baby boomers thinking about venturing out, but should they?

Photo: Lawrence Purce

It’s so upsetting to see millions of people out protesting in the streets of America in the middle of the coronavirus pandemic. Should people be protesting the murder of George Floyd by a police officer? Yes, it’s needed. Should they be protesting in the middle of the pandemic? No.

In Washington state as of June 12, 2020, the 14-day average of covid-19 deaths was seven.

Seven people a day are dying, yet the state is opening up. The public policy is that it’s O.K. for seven people to die a day of covid-19.

In the United States on Sunday, 317 people died.

In this state, people age 65 and older are considered to be in the high-risk category, as are people with underlying health conditions. About half of baby boomers are in this age category. However, baby boomers are going out to dinner, getting their hair cut, and planning vacations.

Don’t be one of those who die. Stay home if you’re in the high-risk group. Health officials are predicting a second wave of covid-19.

Beware of scams targeting minors

It’s Cybersecurity Awareness Month.

Young people and parents need to be aware of online scams targeting minors. Just like adults, scammers target kids through online platforms, such as apps, games, and social networking websites.

Young people are often attractive targets for scammers because they may have unused Social Security numbers, don’t generally check their credit reports, and are used to sharing information online. Scammers may pose as someone else in order to get young online users to voluntarily share information.

“Scammers don’t discriminate,” said Nevada Attorney General Aaron D. Ford. “All users, even young adults, should be cautious about sharing their personal information. If we can help young people recognize these issues now, they can be proactive and protect their personal information, which may be their most valuable asset. The first step is to realize how much of your personal information is already in the  public domain.”

Department of Education’s latest idea for student loan relief is deeply flawed, consumer groups say

A Trump administration rule that denies loan relief to many students cheated by their schools is deeply flawed and should be overturned, Public Citizen and the Project on Predatory Student Lending told a court Tuesday. The groups represent student borrowers in a lawsuit challenging the U.S. Department of Education’s new “partial relief” rule.

The rule details how the department will decide whether and how much relief to give borrowers who have demonstrated that they were cheated by the schools they attended. Under the rule, most borrowers whose claims are approved receive only partial or no relief on their student-loan debt.

The lead plaintiff, Sammia Pratt, attended a Corinthian-owned Everest school in Florida for accounting, based on the false promise that she’d be able to transfer credits to the University of Central Florida.