• fdic.com -insurance limits on deposits
• cdars.com - how to insure amounts over $100K
• breezenet.com - rental car deals
• fidelity.com - "Freedom Funds"
• vanguard.com - "Target Funds"
• audiology.org - hearing aid info
• fda.gov - hearing aid info
• aarp.com - hearing aid info
• ehealthinsurance.com - insurance quotes
• dot.gov - how to file airline complaint

• tiaa-cref.org - 529 plans

• tiaa-cref.org - info on 529 plans

Clark has written in his books about buying mattresses the “Clark Smart” way. Buying a nice mattress for a good price and how to test it out are both important. So, Clark read with great interest a story in the New York Times about people who spend more than $10,000 for their mattress and box spring. People are buying mattresses made of lambswool, cashmere and silk. And, it’s considered normal to spend between $2,000 and $6,000 for the pair. The marketplace has moved toward this high-end level year after year, at a 20 percent increase every year. The ironic part is that people are sleeping much less than they were a generation ago. Most people get less than seven hours of sleep these days. So, as we deal with anxieties and stresses, we think we’ll get a better night’s sleep if we buy expensive mattresses. But studies have shown that it makes no difference if you spend $10,000 or $1,000. The British Medical Journal found that people do just fine sleeping on a moderately-priced mattress with good support and firmness.

Over the next few months, you will see a phase in of the controversial new law called “The FACT Act.” It will basically serve to protect your identity better than it ever has been. Changes in the law are coming. At restaurants, for example, your full credit card number cannot appear on you receipt. Instead, it’s usually the last five digits showing or the type of card. Many times, thieves get our credit card number and they’re immediately off spending our money, which is known as “account takeover fraud.” You will also be able to get your credit report for free, starting around December 1. Another requirement of the law is that retailer or finance company involved will monitor your account for fraud alerts. Up until now, the retailer or company has not monitored your account. Another very positive change is that people are going to be able to contact their creditors directly about false information on your report. The report will have more detailed information about each creditor. The credit reporting industry is incredibly sloppy and terribly inefficient. Right now, it’s very difficult for people to deal with lies – or errors, as the bureaus like to call them – on their reports. Insurers will also no longer be allowed to deny coverage for medical reasons and conditions. The Federal Reserve is supposed to offer people help on this topic if they want basic financial knowledge. Clark will look into what the Feds are offering and tell you if it’s any good. Why is this law controversial? A lot of states have passed more stringent rules to give you more rights with your credit reports. But Congress chose to outlaw any state laws that offer consumers more protection than the federal government is giving you.

Clark was reading a story about retirement plans in Sweden, which has done something similar to what President Bush has proposed for our country. It’s basically a partial privatization of social security, whereby you would be able to do with some of the money whatever you want. Apparently, Swedish people had made very bad choices about where they put their money. And it seems that most people – about 85 percent - are clueless about what to do with money and how to invest it wisely. Most pay someone to invest for them or ask at the water cooler. But Clark has another alternative for you. You can buy a fund from a brokerage house and, as you get older, the house changes the fund to fit your risk vs. reward needs. These plans, known as “Life Cycle Funds,” are a lot like 529 plans in that the investments grow less risky as the reward gets closer. Fidelity, for instance, has the “Fidelity 2020,” the “Fidelity 2040,” etc. You pick the target year for retirement and the investments change from stocks, to bonds, to eventually savings accounts as you near that maturity date. Vanguard also jumped into the mix and named its funds the “Vanguard 2005,” “Vanguard 2015,”and “Vanguard 2025,” and so on. So, depending on when you want to retire, you can pick the one-stop-shop for you. Since you’re buying something specifically targeted toward a date, it allows you to buy one investment that will carry you through to your goal. So check out these funds!

Clark was driving on the freeway this weekend when he saw a pick-up truck with smoke blowing out of the exhaust pipe. All of a sudden, the truck’s engine exploded and debris went flying everywhere. Thankfully, no one was hurt, but the car – which had an “AS IS” dealership sticker on it - basically died there on the freeway. The driver must have recently bought the used vehicle, and all Clark could think was that the man was stuck with it now. He has no transportation, yet he still probably owes money for the truck. Clark gets calls about the sale of used vehicles all the time, because people don’t know the sale is final. The federal government requires only that used cars have a sticker in the window, saying either “AS IS – no warranty” or “warranty included.” If you buy a car “AS IS,” you can’t return it under any circumstances. Do not rely on anything the salesman tells you during the sale because all that matters is what is in writing. So, if you’re thinking of buying a used car, make sure you have the car checked out by a mechanic who is ASE certified. You can see more of Clark’s suggestions if you go to Clark’s Library and click on “Buying New,” or “Buying Used.”

There has been a lot of debate around the country regarding the role of public transit in cities that are well-developed and very spread out. What do you do in cities where suburban areas have already developed around the automobile? It includes areas such as Washington, D.C., Atlanta and Los Angeles. Is there a meaningful role in these cities to have light rail, heavy rail or commuter trains? As metro areas continue to expand in population and life expectancy rates rise, you can make a difference by building rail corridors and developing homes around those corridors. In both D.C. and Atlanta, developers are building housing areas for people who would like to ride public transit. The transit stations are essentially magnets for housing and offices. Now, it doesn’t help people who are already living in far out areas that are not near rails. But, you can provide an alternative for future residents. Some people prefer to pay more money for less of a house just to have a shorter commute that is near a public transit station. But there is no such thing as “building your way out of traffic congestion.” Supply creates its own demand when you build a road. It’s never going to mirror the systems in New York, New Jersey or Massachusetts where trains are a natural kind of thing because the population is so concentrated. But it’s not an either-or situation. You can gear plans toward people who would prefer not to sit in a car for hours to get to work.

Home Depot is facing several lawsuits over alleged mail fraud and wire fraud involving its credit card operation. Home Depot’s credit card operation brings in about one of every four dollars that the company makes, according to Bloomberg News. And the company recently switched the bank that handles its account. They moved their account from a division of GE to a division of Citibank. And when Citibank took over, the company changed how it charges customers interest. If you buy something from Home Depot and use the credit card, the new operator takes any payments you make and applies a lower interest rate to that amount. But any existing balance you had from before gets charged a much higher interest rate. Now, people are lashing out against Home Depot, saying that the company never disclosed information about this change. The company has gone into hiding and hasn’t said much about the lawsuits. As a result, Home Depot will probably get a black eye and will probably go back to the old way of charging interest. But you need to remember that credit card companies routinely do this. They will reel you in with a low rate and then apply payments in the method that is most favorable to them. That’s why you have to compartmentalize your credit card use. If you get a special offer of no interest or low interest for a year, it only applies to the charges fitting that specific condition. Do not use that card for any other purpose and pay off the balance before you do a transfer. And Clark thinks Home Depot should step up to the plate and own up to what it’s done.

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In addition, some credit cards are upping their late fees to $50. If you are a second late with your payment, you could suffer huge fines and your interest rate may jump up. Clark doesn’t know if there is a limit on these fess, so make sure you make your payments on time every month. It’s so important!