The Clark Howard Podcast

Mortgage rates have plummeted recently. This is creating even more competition in the housing market. If you are planning on staying in your home for a while you could save a lot of money in interest payments by refinancing soon. Christa reads listener posts about how Clark has missed the mark in his advice this week. If you have a "Clark Stinks" to share you can leave it here. Learn more about your ad choices. Visit megaphone.fm/adchoices

There's a major problem happening all across the country. People are trading in cars that aren't paid off. This can lead to a whole lot of issues. Never trade in a car that you haven't finished paying on. US Bank fired an employee who spent her own money to help a customer on Christmas Eve. Clark thinks this is ridiculous! Clark is a romantic at heart. But he also likes to save money. So he gives you his favorite tips for saving money around Valentine's Day. Learn more about your ad choices. Visit megaphone.fm/adchoices

Most taxpayers are eligible to free file. But only 2% who qualify use the IRS free file site. Most software vendors are in the IRS Free File program, but tout their paid software instead. Go to IRS.gov - Free File: Do Your Federal Taxes for Free | Internal Revenue Service. Some of the software includes free state tax filings as well. If you don’t like the one you’ve selected, you can bail and try another. If you make over $69K a year, you’re not eligible for Free File. In that case, try Credit Karma Tax to file for free. They want that info to target you for offers. Business owners or those with complicated tax situations need a pro. Small business owners can consider hiring an enrolled agent or your CPA who does tax. Warning: there’s been a steady increase in the number of unqualified people doing tax returns. No certification is required. Anyone can claim to be a tax preparer. Many have turned out to be con artists and thieves, who lie to generate a big refund directed into their account. Make sure your preparer signs the return and look it over. If you see false information, do not sign your name to that return. Dan of Cleveland got a notice from the post office to come pick up more mail than can be delivered. He arrives to a pile of 55,000 letters! His lender, the College Avenue Student Loan Company, sent him the same statement for his daughter’s tuition 55,000 times. Postage alone was around $11k and the information in the letter wasn’t even correct. The student loan industry is in disarray, rife with incompetence and abysmal record keeping. The industry is flat out broken. Keep your records. Run your own amortization schedule and track your loan. Make sure the balances and interest rates are correct and that payments are properly reflected on time. Watch them like a hawk. VISA - the most powerful of the 4 credit card networks (Visa, MC, AMEX, Discover) – will roll out fee structure changes this spring and fall. They’ll begin charging higher merchant fees where credit cards are dominant, and lower fees in low use sectors in an effort to manipulate buying behavior. Merchants that accept Visa won’t have a choice, unless they’re large enough to negotiate their own processing rates, like Amazon and Walmart. Everyone else will be at the mercy of Visa. The cost for online merchants will go up. Smaller businesses may have to bump up prices to deal with this. Online purchases will potentially cost more than in-store. Tuition payment by credit card can cost 2.9% more. That’s an industry with low market share for Visa, so they’ll be dropping those rates and subsidizing them with higher fees charged elsewhere to try to get market share in student tuition payment for private schools, pre-schools and colleges. Visa/MC cartel fees are typically the second largest expense for merchants. Remember you can offer customers a deal for paying with cash and giving them part of what you save as a way to reduce expenses. Visa may be trial ballooning, waiting to see what the other card networks will do. Consumers may see different pricings for different payment methods. Learn more about your ad choices. Visit megaphone.fm/adchoices

Pharmacy mistakes filling prescriptions are becoming more common as volume increases on a small number of players who allegedly put the pharmacists under unsafe quotas. Investigative reporting by the NYT reveals that pharmacists with the major chains are under pressure to fill prescriptions and the resulting errors. Another recent report states 1.5 million people have been adversely affected by Rx mistakes. Oversight by state pharmacy boards has failed. Marketplace pressures being applied to pharmacists is creating unsafe conditions, putting the public at risk. Simple prevention tips: Pharmacists are human. Always look at the prescription before you leave the store. Packaging describes the shape, size, color and markings of the medication. The same med may look different from different manufacturers. When a med goes off patent to generic, it’s appearance can change. Look at the name on the label first as many drug names are similar. Then check the actual medication and be very careful verifying you have the right prescription. We can make sure the medicine we receive are correct as best we can tell. Check before you leave the pharmacy and have them verify before you leave. Take these steps to protect your and your family’s health. Clothing manufacturers and retailers are in full clearance mode on winter goods. From light to heavy weight, this is the week to start looking for great deals on winter wear. Scandal has rocked the U.S. Dept. of Education because they have failed to honor the law on forgiving student loans for public service workers including police officers, fire fighters, teachers and others that work in nonprofit or service capacities. Certain public service professionals were promised Federal loan forgiveness after 10 years of on-time payments. The rules were drawn in a way that triggered denials due to technicalities for 99% of applicants. This caused such an uproar that the Dept. of Education has passed new rules that will allow around 3/4s of those declined to now receive their loan forgiveness. This is not widely reported so spread the word to those you know who may be affected. Those declined should apply again. Temporary Expanded Public Service Loan Forgiveness (TEPSLF) is how many will qualify for loan forgiveness. Don’t give up and great thanks for your community service. This was a promise made that should be kept. Learn more about your ad choices. Visit megaphone.fm/adchoices

Last year there was the mad rush of discount stockbrokers to cut commissions on various kinds of trades to zero. Nobody's laughing anymore at the once obscure app Robinhood. Now millions use the app to trade stocks at no commission. Finally Chuck Schwab had enough and decided to stop charging commissions as- which set off an earthquake. The stocks of various discount (now free) brokers just collapsed because the investment community thought this was financial suicide. It wasn't, because brokers earn money offering other services including checking accounts and credit cards - services superior to banks. Thus money has migrated out of stodgy, high-cost, low-service banks into credit unions, online banks and no cost brokers. Brokerage stocks recovered from the zero commission earthquake and new money coming in has shot through the roof. Know you can do a checking account with a zero cost broker. Bank shares are included in some index funds meaning you make money from them vs. the other way around, as they're in the business of looting your wallet. Special Warning. For years we've faced fake emails pretending to come from banks so most people are aware of that approach. Now we see reports that criminals have figured out how to take it a step further. They now send a notification that an account has been compromised, including a duplicate banking landing page, now with code that transfers your input to the REAL banking site. You'll get the 2 factor authentication text, and enter that number - which they also duplicate, giving the criminals full access to your account. Anytime you get an email you think is from your bank or any financial institution, never click a link. Go separately to the official bank site. If there is an issue, you'll be on the real site and know if all is well or if there's an issue. Screen time can be isolating. Clark's banned gadgets at the family dinner table. No point in being alone together. Turns out our constant companion cell phone induces human loneliness. Having grown up in the digital era, young adults report greater degree of loneliness. It's not the same communicating online vs face to face. The WSJ reports how young adults in the workplace report greater loneliness. When all communication is digital - young workers report feeling twice as lonely as older workers who grew up analog and are more likely to talk to co-workers face to face. In person contact can create a warmer, more fully connected work environment. Whether at work or in your social life - being around people can make you a happier, more connected person. Learn more about your ad choices. Visit megaphone.fm/adchoices

Variable pricing has made it even harder for consumers to book travel. But there are some important things to know when you are looking to book airfare, hotels, and rental cars. Christa reads listener posts about how Clark has missed the mark in his advice this week. If you have a "Clark Stinks" to share you can leave it here. Learn more about your ad choices. Visit megaphone.fm/adchoices

Nonprofit and hospital workers, teachers and other 403b workers suffer much confusion from this rip off form of retirement plan. It’s a scandal that we give teachers a plan so inferior to the 401k. The surrender charge is how 403b insurance companies handcuff people to the plans. This often massive penalty fee is imposed for exiting their rip-off plan to put money in a low cost IRA – costing about 1/40th what the 403b takes. Remember 403b = rip off! A financial planning firm found that a young worker would be better off paying a 40% surrender charge to the insurance company to invest at lower cost elsewhere. Over that working lifetime, that worker would still make more money than paying the rip-off fees imposed by the 403b. Some surrender charges are only 15%. If you’ve got 10 years or more working life, it’s generally worth it to pay the surrender charge to get out of a 403b. Clark reported months ago on an investigative series from the Detroit Free Press about severe problems with the Ford Focus and Fiesta. 2 million people have now been affected by vehicles with defective transmissions. A class action lawsuit was filed 8 years ago on this matter. Possibly the Free Press series finally pushed forward a settlement. There’s no cap on payouts to these car owners. Ford has to pay to make people whole who owned or own a Fiesta or Focus who have filed a claim. Also revealed, Ford knew about the problems on model years 2011 – 2016 and had a procedure in place to BLAME THE CONSUMER as a strategy to avoid paying for repairs. Even though the great recession reportedly ended in 2009, the job market remained terrible until 2012. We’ve been on a steady economic and employment upswing since. But there are times when all seems lost, and a worker must reinvent their role in the marketplace. After a job loss, Clark advises that you draw on what you know. Your best opportunity in your next chapter draws on your education and experience. The Detroit Free Press profiled car salesman Brian. This family man worked extremely long days and was abruptly let go. Knowing that people hate going to dealerships, Brian decided to become a car buying concierge. He gets paid regular commission by the dealerships he uses for clients, and charges the buyers nothing. He sells around 35 vehicles a month via word of mouth, gets more time at home with family and makes more money. He helps clients determine the right vehicle for them through a questionnaire. He delivers, helps with the paperwork and either takes in their trade-in or Ubers from their home. We often undervalue what we know and how we can serve others. Businesses have a hard time changing, which means opportunity for experienced individuals who come up with a way to serve people better. You may be your best boss ever. Learn more about your ad choices. Visit megaphone.fm/adchoices

We tend to just accept that prescription glasses are costly. There is an international cartel that’s been buying up both retailers and frame manufacturers for eyeglasses in order to corner the market and take prices through the roof. BUT, when there’s market concentration to push prices up, there’s always a rebound effect. Now there’s a fast growing marketplace of discounters offering eyeglasses at a fraction of cartel prices. Frames and lenses complete can be had for as little as $15. Consumer Reports has put together ratings for the discounters. Number 1 - Costco Optical, 2 – Warby Parker, 3 - Zenni Optical. In fact, every single discounter rated got at least a good score. Know you can get good eyeglasses for under $100 – even for bifocals, trifocals and progressive lenses. -For contacts, 1800Contacts is now offering a free online eye exam for contacts, with an eyeglass Rx. See our guide. There are enormous price differences for contacts. Beware merchants pushing high cost lenses. Many of us use hand sanitizers thinking we’re protecting ourselves from germs. If using Purell, you may even think you’re protected from the flu. The company has even claimed the product can prevent Ebola! No more says the FDA. They’re reclassifying Purell as an unapproved drug because of these outlandish claims. The real advice from the FDA and the CDC is to simply wash your hands thoroughly with soap. Only default to hand sanitizer when there’s no alternative. Also we worry about catching colds and flu on airplanes. The Journal of the National Academy of Sciences finds you have to be within 3 feet of a sick person for them to be a potential hazard to your health. Don’t worry the whole plane is contagious. Via permissions, Facebook tracks you OUTSIDE of Facebook, when you’re not using Facebook or any of their services. Under pressure, in an effort to stave off legislation that would restrict their tracking activities much more, Facebook now offers the tool, Off Facebook Activity, allowing you to see and curtail this tracking. At sign up we unwittingly give Facebook permission to spy on us everywhere we go online. They know all. Third party apps are reporting to Fb what you’re doing online. They know what articles you read, podcasts you listen to, music etc. They can then build an ultra-deep dossier for sale and for targeted ads. Producer Joel used the new tool to delete the info and found it very easy. Learn more about your ad choices. Visit megaphone.fm/adchoices

Google search results now present in a way making it more difficult to distinguish between results and ads. Anyone can be buying those ads which could be scams, rip offs and fake companies. Legit ads are also there but you should know what’s an ad. There’s almost no delineation anymore to tell you something is an ad. “Ad” is in tiny type and they can be mistaken for search results. You need to know to look past those. Also, we generally don’t get past the first page of search results. Take more time to refine your search. Or use DuckDuckGo as your default search engine for clean search results, no tracking. MarketWatch reports a huge number of homeless veterans are eligible for special housing vouchers designed for vets from the Vietnam and first Gulf wars. 11,000 of the vouchers now go unused. Veterans need to know there is this great voucher program available from the VA. Make sure any vets you know are aware of the housing voucher program. Auto insurance rates have gone up roughly 50% in 8 years. For a time, fatality rates were way up due to device distraction, subsiding now with state texting-while-driving laws. WIRED points out a new pain point. If you’re cited for texting while driving your insurance rates will go up 20 – 25%. Another rate hike factor involves the high safety tech in cars today. Vehicles now have so many safety devices that accidents are less severe, happening less often. But ironically, a simple fender bender can render a vehicle totaled by the insurance company, as so much tech is in the fender, they don’t want to repair it. Often a single airbag will deploy, and they’ll total the vehicle out. All these totals is having an impact on rates. As vehicles turn over in the fleet, cars get safer overall. In 2021 Ford will install tech allowing vehicles to communicate. The problem of sun glare will be addressed by red light dash warnings. Safety measures so much a part of the future, will bend this curve on insurance rates. Learn more about your ad choices. Visit megaphone.fm/adchoices

We face unknowns with the Coronavirus outbreak. Some practical matters to be aware of. Historically, odds favor the virus not becoming widespread in the U.S and Canada. The travel industry is in ongoing response mode. Isolation has begun with Chinese cruises generally canceled around affected areas. Airline policies vary including refunds on flights to China and other parts of Asia. The stock market - especially travel companies - are being hit hard right now in the wake of the Coronavirus too. FedEx and UPS have issued warnings in the last 24 hours to be aware of receiving a text or email claiming you have a package scheduled for delivery. These phony messages contain viruses. If you click and answer the questions, criminals get your personal info. Set up your own personal account with FedEx and UPS to receive for clear notifications that don’t require you to click to open. New factors will be weighed more heavily in the new FICO scoring model. Lenders are starting to get nervous as more people carry debt. Here we are with low unemployment yet more people carry debt. There are hundreds of credit scores. Even using the same scoring model, the credit bureaus will come up with different scores from different items on credit reports. These scores indicate a general direction. All this only amplifies previous advice about how to protect your credit reputation. Come up with an effective way to make sure every bill gets paid on time, every month. Also, lowering your utilization rate will be even more impactful moving forward. Learn more about your ad choices. Visit megaphone.fm/adchoices

Clark’s quote for a modern home security system came in at $2700 + $25 a month monitoring or $300 a year. Meanwhile, Clark’s been touting self-install systems for years so he decided to give it a try. Clark looked at Nest, Ring and Simply Safe on cost and features. Clark bought the Ring system for $179 on sale at Costco, complete with motion sensors, sound alarm, enough door/window coverage & keypad. He already had Ring doorbells and cameras that would fully integrate - $100 a year for professional monitoring. Christa reads listener posts about how Clark has missed the mark in his advice this week. If you have a "Clark Stinks" to share you can leave it here. Learn more about your ad choices. Visit megaphone.fm/adchoices

Clark discusses the expenses many retirees don't consider when they are planning for retirement. Some call them "stealth expenses." It's important to have a plan as you get closer to your retirement date and to have your eyes open about what your incoming and outgoing funds will look like. An auto shop owner paid off his long-time employee's mortgage to help him retire. How cool is that!? More and more universities are offering income share agreements. This means that graduates will pay a portion of their salary for quite a few years post graduation. It's a different approach to the traditional student loan market. Learn more about your ad choices. Visit megaphone.fm/adchoices

Other than recent initiatives in California, the U.S. is lagging when it comes to internet privacy protections. This spring, strict online privacy rules for anyone under 18 will go into effect in Britain. For underage citizens, personal information will be private. If a kid is using YouTube, Google can’t track that use. No tracking, data mining or subsequent targeted advertising to kids can take place. We need such a law in the U.S. In addition to Google and Facebook, gaming companies, and other social media are using our kids as fodder to develop massive databases for targeted ads. Naturally adults should have privacy rights as well. Affected companies are under so much pressure to grow revenue, the moral ethical equation gets pushed aside. These are powerful companies that can buy off U.S. politicians to work in their favor. We should have clear privacy protections for children. The British are using a market-based approach, allowing users to set up default privacy settings for all users, or go through a process of age verification. And this has real teeth. If a company violates the law, the fine is 4% of their worldwide revenues. That’d be gigantic for Facebook or Google. At last, a strong way to deal with reckless big tech. An American Bankers Association survey finds that attempted check fraud has gone up 60% in the last 2 years. One of the great vulnerabilities in the banking system is a traditional paper checks – an analog device that does not provide adequate security in a modern digital era – already banned in some countries. If you routinely carry a checkbook with you, stop doing so. If a single check of yours falls into the wrong hands, the danger to you is can include jail time for check fraud. Also business are a big target for check fraud. It’s safer to operate electronically. Lots of investors are becoming interested in socially responsible investing. They don’t want their retirement money going into ‘bad’ companies. But the criteria is hard to define. Tobacco, alcohol, soft drinks, coal, oil are company areas some define as bad. Environmental, social and governance (ESG) investing principles is one criteria, but can be defined very differently among fund managers. Before you choose a socially responsible fund, understand how that is defined. It may omit companies you champion. Facebook is loved by some investors. Others love to hate it. Also, when you start slicing and dicing, you shrink the pool of companies eligible to be part of an investment. Before you jump into this, see how ‘socially responsible’ is defined by the fund choice available to you. And look at the expenses. Often investment houses will charge more in expenses for these funds. Learn more about your ad choices. Visit megaphone.fm/adchoices

In some states people are able to shop their natural gas service. Regardless of state, know that natural gas prices have collapsed. Projections are this will be a mild winter, with an oversupply of natural gas available. The price at wholesale has collapsed to now 1/8th of what it was just 15 years ago. Other than electronics, prices tend to move up over time. But energy has gone way down. If you live in a state where you can negotiate, this is a time to shop the market. With prices this low, lock in for 2 years if allowed. In states with no choice, the good news is that generally wholesale costs are passed on to consumers. Overall, energy prices have steadily gone down, making the case for deregulation. Many states are under a corrupt process wherein politicians decide who will provide electricity and what they charge. Better to emulate the free market system used in Texas, creating very low energy costs as the market provides the most efficient energy available. In the case of Texas, overwhelmingly it’s wind power. In D.C - hot air. A new survey reveals a basic distrust of capitalism has taken hold among Americans. Public-relations firm Edelman conducted its 20th annual analysis of public trust in major institutions, surveying 34,000 people in 27 countries and Hong Kong. Here we are in the midst of a long economic expansion begun in 2012, yet the majority surveyed no longer believe in capitalism. Americans are down on the free enterprise system. No one was ever punished for the banking scandals of last decade. Income inequality also undermines faith in the system. But becoming a socialist paradise doesn’t tend to play out well over time. We need to improve how capitalism works in the U.S. We have much to fix. The reality is nothing in human history has ever worked as well as giving people the opportunity to create new ideas, products or services people want to buy, creating greater wealth for both society and those individuals. If you’re willing to move, you can benefit from job opportunities across the nation. Economic opportunities abound in other cities and states for people of all sorts of different work backgrounds. Learn more about your ad choices. Visit megaphone.fm/adchoices

A Bankrate survey has found that of those with $100k to $200K net worth, more than half are carrying credit card debt. The psychology of this is important. There’s an old expression that describes this: Keeping up with the Joneses. When someone lives in an affluent neighborhood and drives an older car, they may feel like the odd person out, and seek to buy a new one to fit in. It feels only natural to match the environment. It’s a matter of being too influenced by those around us, and creating expectations for ourselves. This mentality takes hold in an insular culture. We are influenced by others, often in positive ways. But when it comes to possessions, trouble follows. Remember that those who have the greatest net worth are those that live a modest life, seemingly below their means. They are building long term wealth. Nobody ever got rich paying Visa or Mastercard 18% interest on debt. The Christmas season was rough for many retailers as evidenced by store vacancies happening all over America. The U.S. has been ‘over-stored’ for years, with more retail space per person than elsewhere in the world. A correction has begun. Retailers are closing for many reasons, leading to GOB (going out of business) sales. Know that these sales are not necessarily a deal for you. The companies that specialize in running these liquidation sales are expert at manipulating buying behavior. Much of the merchandise in a given GOB comes from previous clearance sales, designed to give the perception you’re getting a great deal. Know that most of the discounts are an illusion. If you shop a GOB, let your smartphone be your friend. Use it to price check and comparison shop. Learn more about your ad choices. Visit megaphone.fm/adchoices

Vehicles are one of the largest purchases in life. To protect your finances, drive your car till the wheels fall off. Certain vehicles stand the test of time. Christa reads listener posts about how Clark has missed the mark in his advice this week. If you have a "Clark Stinks" to share you can leave it here. Learn more about your ad choices. Visit megaphone.fm/adchoices

A senior gets a call from someone pretending to be a relative in trouble asking for money. This scam preys on seniors desire to help loved ones, resulting in millions of dollars in losses to seniors every year. Should banks and other financial firms be doing more to protect seniors? Banks are required by law to put through a lawful transaction. Lazarus suggests bank tellers simply ask the person if they’re familiar with the grandparent scam as a brief intervention to hopefully prevent loss. In some states, tellers and bank officers are trained to spot scams and ask questions. This is a reasonable responsibility to expect from banks. Make sure your aging relatives are aware of this scam and verify with relatives. If the caller refuses to let them hang up to do so, that’s a scam red flag. The Milwaukee Journal Sentinel has published an investigative report on how criminals are targeting retirement accounts. No federal law protects our retirement accounts from hacking but many of the providers do. Still, you can’t count of administrator protections since it’s not law. Monitor your retirement account at least in tandem with quarterly statements, and set up 2 factor authentication. Virtually every 401k provider offers this additional security step. Protect your life savings. Due to the increase in extreme weather and natural disasters, we’ll see homeowners insurance rate increases. Normally, home and auto insurers go through cycles where they’re either into market share or profit margin. But extreme weather is a third factor upending actuarial assumptions about what losses insurers will see. Insurers also depend on financial industry ratings of their strength. Thus they must maintain certain levels of financial strength, now tested by increasing claims from catastrophic weather. The greatest vulnerability is in coastal regions. Coastal residents will see a reduction in the quality of home insurance available as in less coverage and higher deductibles. Your mortgage may have limitations on the deductible you’re allowed to carry and that may force a change in who insures you. Otherwise your mortgage company will rip you off with ‘force placed insurance’ which cost from 10 to 100 times what regular insurance cost. This is a big profit center for banks. Different insurers are facing different pressures. If you’re hit with a notice of a large rate increase, take it as a signal to shop the market. Coastal dwellers may have a hard time finding robust coverage at an affordable price. Know that behind the scenes, home insurers are facing significant financial pressures. Due to the increased violence and frequency of storms the market must calculate higher risk levels. Be aware and prepared. Learn more about your ad choices. Visit megaphone.fm/adchoices

Many younger adults have no expectation of privacy. For others, there’s a clear expectation of privacy. Know when you download an app there’s the risk they’re packaging, selling and reselling your information. Californians now have a clear right to control what info is collected about them and what is done with it. The good news Clark shared last week is that the rest of us can use the California law to our advantage as many sites provide the same privacy rights to all to be in compliance with California and Europe. We’ve received complaints from those who, when they’ve tried to use provisions of the new CA law to delete personal info or see their digital dossiers, have had to provide more personal info including their driver’s license or state issued ID. These sites and apps must verify the identity of someone requesting their file, so ID is necessary. If you want to restrict data out there on you, use provisions of the new law and be ready to prove you’re you. The National Security Agency found a major flaw in Windows 10 – a very dominant OS. The NSA informed Microsoft who has provided a patch via the latest update. Those who receive auto updates got theirs last night. If you don’t have your computer set up for automatic updates, go to settings, update and security – check for updates, download and install right away. We spoke with 2 IT security experts who confirm this a key update you should be sure to get. Clark Deals’ Charis joins Clark to discuss her teeth straightening quest. SmileDirectClub has been controversial as the more DIY choice. Invisalign aligns with orthodontists. Now SmileDiretClub will sell both ways – directly and through dental professionals. Charis had braces as a kid but her teeth shifted from not wearing the retainer. Charis consulted a traditional orthodontist and went to a SmileDirect location to price compare, and received basically the same 3D imaging at both places. Invisalign via an orthodontist typically cost $5k+. Charis’s SmileDirect cost: $1895. Charis’s research of other users finds that those with complex concerns can have problems in the absence of regular monitoring by an orthodontist. She had some bumps in the road as well. SmileDirect has spawned Facebook groups for success stories and for bad outcomes . Some are overjoyed, other suffer loose teeth and other problems. Smile Direct is a money saver, but with risks. Charis is seeing good results so far in her 10 month program. So much in medical is moving more to self-service blends with traditional care. If you have pre existing dental issues, doing a self-serve straightening is likely not a good choice. And all users need to strictly comply with their plan for a better chance of success. Learn more about your ad choices. Visit megaphone.fm/adchoices

In November Clark reported on the anti-college mindset and provided stats on how much more a person makes over time with any level of post-high school education and training. The numbers were starkly in favor of further education. A counterpoint has emerged from a study conducted by the Federal Reserve Bank of St. Louis. The study tracked net worth and found that college for better income wasn’t a given IF there was a large student loan burden. This further makes the case that having to borrow to go to a certain dream college is NOT worth it. Top tier college snobs snipe at others who go to ‘directional college’ (Ga Southern for example). What matters is your education and training without enormous debt upon graduation. The value of a college education remains unassailable. BUT follow Clark’s rule: Graduate with less debt than you’ll earn in your first year on the job. Make the first year’s income in your chosen field the ceiling on what you borrow. Amazon has changed its business model. They’re more about convenience than price, and starting to get nervous about comparison shoppers realizing they’re not cheap anymore. Many use browser extension Honey to comparison shop, Clark recommended along with CamelCamelCamel. Amazon is so freaked out they’re telling people that Honey is not safe to use and should be uninstalled. That is just not true. Use Honey and CamelCamelCamel to know if a purchase really is a deal or not. There’s been great interest in peer-to-peer lenders Prospers and Lending Club over the years. Borrowers can submit their loan request and members decide what % they want to finance. Clark wanted to check both out as an investor. 3 years ago Clark put $5K each in Prosper and Lending Club. Instead of picking the individual loans, he used their automated system based on risk level. With Both p2ps, 50% of Clark’s loans were going to very low-risk borrowers – those with great credit scores. The other half went to subprime borrowers presenting varying levels of risk. 3 years later, Clark’s annualized net return is 4.76 and 4.77% - a better return than with savings or CDs but with clear risks. People who don’t pay their notes have to be written off. Many use statistical analysis to invest in higher risk loans of their choice. Clark plays it bland. For borrowers, this is a potentially cheaper option than elsewhere because they cut out the banker in the middle. Learn more about your ad choices. Visit megaphone.fm/adchoices

A large percent of publicly traded companies are losing money right now, even in a decade-long strong economy. But we’re moving into a feast / famine cycle of employment and what you know can help you. The general trend now is that big companies are reducing headcount by attrition. They’re not filling open positions. Meanwhile the smaller local and regional companies not involved in international trading – are generally doing well and bidding for workers. Topeka Kansas is offering incentives of up to $15 to get people to move there for work. The WSJ reports companies are offering relocation bonuses to attract new workers – a perk common 15 years ago now returning. Focus on opportunity to find real advantage in the marketplace. We creatures of habit need to look out the window. Because of rotation in the corporate environment, this is a time of big wage disparity. Your skills may be worth more to another company than you’re getting now. Take advantage of education and training, so important to finding the best opportunities. If you feel dead ended, explore further training. Boeing's CEO was fired for undermining a culture of safety that ultimately caused two crashes and cost hundreds of lives. He’s getting severance between $62M and $82M for failing. Newly released memos further expose a chaotic culture of eroding safety standards. Internally, many knew the plane was unsafe and some laughed at being able to con the FAA in approving the Max. Failure is rewarded handsomely in the executive suites of big publicly traded corporate America. Hundreds died due to gross negligence by Boeing and the CEO is scoring millions. Why is no one being charged criminally – with manslaughter at least – in this circumstance? Disputes between local network affiliates and operators about carry provisions and payment are ongoing. It’s a great idea to have an antenna for local channels. If you get a good signal, it may be all you need for NO monthly fee. If you stream content, having an antenna is great as well. AntennaWeb - Antenna Signal Prediction – Antenna Web has updated their site and revised their search tool for local channels and antenna recommendations based on address including topography. If you live in a high-rise facing broadcast towers, any antenna may due. Other residents may need heftier attic antennas, or easy TV boxes. Locast is a non-profit for streaming local channels. Verizon and the cable monsters have all pushed packages. Now, Verizon is dropping contracts. Great news for consumers! Learn more about your ad choices. Visit megaphone.fm/adchoices

Since the Truth in Lending Act does not apply to small business, instant loans to small businesses is a major rip off area around the country. There’s no requirement to disclose junk fees or interest rates on these loans. As a small business owner, Clark receives about 10 offers a week. Though there are ethical lenders, there are too many bad players out there taking advantage of small business cash flow needs, charging gigantic interest rates for quick money. If you’re a small business owner, do NOT bite on these loan offers until you know the fees and rates. If you can’t get a straight answer, stay away. While Congress lies about how much they care about small business, they ONLY care about their corporate contributors. Nobody’s looking out for the small business owners, with no laws governing proper disclosure of loan terms. Also, the Supreme Court ruled that states can charge sales tax to small businesses selling across state lines online. For big retailers, that’s no big deal, but for small business, compliance is a nightmare. They need a simplified tax procedure in place governing online sales below a designated threshold. Candidates should come up with real agendas for small business. Big company lobbyists feeding in cash are the only ones heard. When can we get leaders who represent the people of the U.S. in the people’s White House? Christa reads listener posts about how Clark has missed the mark in his advice this week. If you have a "Clark Stinks" to share you can leave it here. Learn more about your ad choices. Visit megaphone.fm/adchoices

There's a heavy wave of discounts this January in addition to historical discount patterns for this time of year. Fitness equipment is a deal now. Buy used and check out Craigslist and Facebook neighborhood groups. CES is pushing the latest high tech TVs. But unsold Christmas TVs are deal right now both online and in-store. Housewares and bedding are a January deal. Toys: there’s a lot of unsold inventory right now – a good time to buy birthday gifts. Winter clothing is more heavily discounted this year. The grounding of the Boeing Max makes January sales less aggressive, but travel deals for spring and early summer are available now. The IRS reports that only 3 out of every 100 eligible for Free File are using it. Free tax prep and filing is there for anyone who earns $70k or less annually. Many services provide free state tax filing as well. But no one knows. Don’t get sucked into paying. Many websites and apps are afraid of California, the only state with an online privacy protection law in place. For many companies, real compliance with CA means de facto privacy protection for all 50 states. Microsoft is among this first, with many following. You’re likely seeing new privacy links from sites and apps, allowing you create privacy settings and prevent them from selling off your personal data. Most sites and apps sell off our personal info in various ways all day long. California has designed a system allowing consumers to opt-out of their data being sold. The LA Times reports on how different sites are handling this. Some come with the dire warning that IF you opt-out of the sale of your personal info, they will not be able to offer you personalized ads. OH NO! Actually that’s what you want. This should be the national standard. It’s an abject failure in Washington that this isn’t already national law. California has essentially set a standard affecting the entire country. If you’re creeped out by the microtargeting of you and selling and reselling of your personal info, pay attention to these privacy notices and set the most restrictive measures allowed to protect your privacy as much as possible. Sure seems like Congress doesn’t care about U.S. citizens, when what should be longstanding national policy has to come from one state. Learn more about your ad choices. Visit megaphone.fm/adchoices

January bring a LOT of travel deals. Clark talks about how to grab them. If you get internet from cable and there’s an increase, check out what the monopoly phone company charges. Be very wary if you still get legacy cable TV. Those rates are going way up to compensate for cord cutters. While your at it, consider going to streaming to save money. The WSJ has investigated large cable companies and analyzed data filed with the FCC, and found that the cable companies are lying about internet speeds. People aren’t getting what they’re paying for.Because of the structural deficiencies created by monopolies, we pay much higher rates than other developed countries, for less internet service. That gap is about to close. Consumers will FINALLY have real choice at much lower prices. Clark guarantees it! For over a year Clark’s been pounding the injustices of public service employees, government workers and teachers getting ripped off in their retirement plans, usually 403bs. A WSJ investigative report reveals teacher and public employee unions are taking huge kickbacks from insurance companies for favoring their plans. The NEA teachers union takes $Millions in kickbacks from the companies providing retirement plans that cost up to 100 times in fees what a low cost Roth IRA or 401k would cost. These unions are selling out their own members. The WSJ reports while the NEA is recommending ultra-expensive 403b plans to teacher members, their own employees are in low cost Vanguard plans. Rise up at your union teachers and force them to stop cheating you on your own retirement future. VISA has issued a warning about how exposed consumers are at gas stations, which remain inside a 5 year delay for implementing payment processing security rules. The danger is enhanced in the remaining year of non-compliance with current standard payment security measures. A more secure payment phase-in begins this year. In the meantime, criminals have a target on every gas station they can hack and skim. This ongoing problem gets bigger in 2020. If you pay at the pump, know it’s a roulette game with a high chance your card will be compromised. Big danger to debit users. Within minutes, criminals can empty a debit account. Credit cards offer more protections. If you must pay with a debit card, go inside to pay, reducing fraud risk. Another precaution, if app pay is available at the pump, choose that option for enhanced security. Otherwise use a credit card NOT a debit card. Learn more about your ad choices. Visit megaphone.fm/adchoices

Congress just passed the SECURE Act which modifies how retirement plans work. The RMD – required minimum distribution has changed the age requirement from 70.5 to 72. Also, small employers can now ban together to offer low cost 401k plans to employees. This capacity will gradually emerge over the next year, putting small employers on a more equal footing with large companies in their ability to offer retirement plans. Also, excluding part-timers from participating in 401k plans will be outlawed. Starting next year, employers will have to make 401ks available to part-timers. And employers will have more power to automatically enroll workers. Generally, Americans allow spending to rise to income levels and beyond. Mandatory enrollment will be more prevalent, with options for workers to modify contributions. Since Social Security alone is not adequate income and many will be physically unable to work their entire old age, these new rules facilitating increased retirement planning are a benefit to society. Technically the new decade starts Jan. 1, 2021, but we’re in the 20s – a new beginning. We commonly write 2 digits each for month, day and year. But now that it’s 2020, there are warnings to write the year in all 4 digits. On any document – contracts, leases, checks etc., if you only put down /20 – anyone can easily backdate it by adding 2 numbers. Write out all 4 digits for the year. Get in the habit to prevent hazard. This January and February will be the biggest post-holiday clearance months we’ve seen – and 2020 the biggest clearance year yet overall. That’s unusual in a strong economy, but this year broke pattern. Retailers are in shock over the unprecedented number of returns. Many of the items coming back have no value for theretailer. As a result, clearance sales are the real deal, especially on apparel. It’s a double whammy for clothing retailers as spring items are already on the shelves and online. Now comes overwhelming winter returns. Mark downs are off the charts. This was the first Christmas season that a big percentage of clothing was bought online, creating return rates stunning to everyone in retail. The FT reports that online purchases are being returned at 3 times the rate of in-store purchases. Retailers are forced to rent trailers and warehouse space to house the returns, overwhelming staff. Hence it will take longer to get the goods back out for sale, driving down values even more. So THIS year, we’ll continue to see clearance sales into February with significant markdowns. Next holiday season will have to be different because retailers can’t deal. Wide return rights have boomeranged on retailers into a tsunami of returns. All to the point that phenomenal bargains can be had for the next several weeks. Learn more about your ad choices. Visit megaphone.fm/adchoices

Edmunds.com research covering the first 9 months of last year finds that 1 in 3 who traded in a car at a dealership were upside down on the trade-in car. They owed more than the trade-in was worth, averaging $5K. They rolled that debt into a new deal, and leave even more upside down on a different car. This is a disaster. A year ago a dealership F&I man - head of financing & insurance - angrily approached Clark, accusing him of killing business. He'd run into customers who'd gotten Clark's message not to roll negative equity into a new purchase. If you're tired of your car, have it cleaned & detailed. Learn to love it again, pay it off, own it free and clear and drive it debt free. Don't trap yourself by rolling old debt into new debt. This has lead to more repossessions. It doesn't end well. Edward Jones is knocking on doors to sell investments. A new trend is a real danger zone for our senior citizens. A Clark staffer's 97 year-old Mom was solicited at her door by someone trying to sell investments. Commissioned sales people are hitting neighborhood streets. Morningstar writer Christine Benz reports on finding her intellectually disabled sister being solicited at their home. The elderly are targeted. This is NOT a safe way to buy investments. Make sure the seniors in your life know not to answer the door on this! Clark first talked about Lemonade insurance over a year ago when it was an experiment in one state. Time for an update. Lemonade is a coop for homeowners and renters insurance. That's all they sell. When you file a claim, it's not an adversarial process. They use automated claims processing. About 1/3rd of claims are simple enough for automated approval in under a minute! That's different! So far we've had no complaints. Lemonade is now available in roughly half the nation's states. Find out if your state is included at Lemonade.com. Pay potentially lower premiums and not to be treated like a criminal when you make a claim. Learn more about your ad choices. Visit megaphone.fm/adchoices

The CDC reports a massive decline in the smoking, down to 13% of the adult population. The same week, a dramatic decline in lung cancer was reported recently. And more people are living 5 years+ after diagnosis. In addition, the British Journal of Sports Medicine finds that if you run, even just once a week, you reduce the risk of early death from any cause by 27%, from heart disease by 30%, from cancer by 25%. Lifestyle changes make a big difference. Running twice or more a week doesn't dramatically increase the benefit! So get your weekly run on to dramatically improve your health and lifespan. After housing, transportation is our biggest expense. So it's important to choose the most reliable vehicle. The vehicle market is way overstocked. Carmakers are suffering sluggish sales and bloated inventory. There are deals all over. But, it's not a deal if the car isn't reliable. Consumer Reports does a deep dive for their annual automobile reliability survey. Again, LEXUS emerges as the most reliable vehicle, followed by Mazda, Toyota, Porsche, Hyundai's Genesis, Hyundai, Subaru, Dodge, KIA, Mini, Nissan & Honda. There are specific models listed within these makes. Lexus, Toyota and Mazda have 3 out of 10 each, Hyundai has the last 5. Consider reliability when buying a vehicle. Learn more about your ad choices. Visit megaphone.fm/adchoices

2 months ago Clark shared a Bankrate survey finding ATM charges have hit an all time high. Banks are looking for every possible way to take advantage of account holders, charging $4.75 on average for ATM use. You have alternatives. Discount broker Charles Schwab offers banking services, a pioneer in 0 fee ATMs worldwide + no foreign currency junk fees. Their checking is a straight up clean deal. The online banks offer a wide network of ATMs you can use fee free. Online bank apps can show ATMs near you to help you avoid fees. Online banks have no branch overhead, and pass the savings onto customers. Post holiday is prime time for side hustles to get out of Christmas debt. January brings a steady stream of emails and social media posted opportunities to pick up part-time money. Be aware of solicitations for a job as a 'drop shipper'. Your home address is used as a delivery point. You're paid commission to resend packages to addresses provided. That's receiving stolen property to send overseas. Being paid makes you an accessory to a criminal ring moving stolen goods. You could do hard time! These crooks use stolen credit cards to buy merchandise, they send it to you to send further out. That leaves you holding the bag. Also next month, expect to see a push in MLM schemes. Legit multi-level-marketing are all about selling a product or service, NOT about recruiting. If the emphasis is on recruiting, the MLM is likely a pyramid scheme. But even when legit sales are involved, 2/3rds to 3/4ths of participants make 0 net dollars from the effort. Learn more about your ad choices. Visit megaphone.fm/adchoices

Some workplaces now have the open vending room, equipped with digital cameras. You can register a credit card via fingerprint for ongoing charges, or pay per use. Half the options available are fresh, healthy choices. Improved vending choices is a trend around the country. The industry national association has an agreement to self regulate and make 1 out of 3 choices healthy in 2020. Much of this trend is being driven by consumers. People are choosing fruit, protein bars and other healthier snacks. Also the industry is terrified of the kind regulation or prohibitions surrounding soft drinks. Barron's published an article about how difficult it is for Uber & Lyft drivers to make money, unless they buy a used, high fuel economy vehicle. With a 4 year old Toyota Prius at $13 - 14K averaging 50 miles a gallon, it's possible to make a decent living as a gig driver. The cost of the wheels and fuel is core to being profitable as a driver. This also pertains to sales workers given driving allowances. The Tesla Effect is also in play. Tesla has been so popular with luxury drivers, it's devastated the resale value of used European and German luxury vehicles. Today you can find a 3 year old lux car priced in the mid-teens. This is a unique situation in the market. Figure in the overall slowdown in vehicles sales as well, used vehicles are a great deal now. The oversupply of new vehicles piling up on dealers lots means you may be able to buy new for the price of a 1 or 2 year old used vehicle. Use the current distortions in the market right now to your advantage. Learn more about your ad choices. Visit megaphone.fm/adchoices

Snow skiing is a very expensive hobby. There are many bargains available for getting to the slopes and skiing. CO and UT are the 2 biggest ski zones. Because of extreme airfare competition in the Denver hub, it's ultra inexpensive to fly to CO. Plus there's been a massive expansion of limited service interstate hotels in CO. So skip the fancy lodges to save. If you stay along a freeway in close proximity to a ski mountain - that's a big savings. For UT, there are 9 ski mountains within close proximity to the Salt Lake City airport, but as a Delta hub, airfare is pricey. But once you get there, there are many affordable hotel options in the Salt Lake Valley close to mountains. Aspen, Vail or Deer Valley lift tickets run around $200 per day, but many other mountains have affordable lift ticket prices. Liftopia.com offers lift ticket bargains. Skiing doesn't have to be so costly. In both markets locals rent ski equipment at better prices than found at the mountains. Clark has called Wells Fargo "a criminal enterprise impersonating a bank". Hopefully new leadership will end the illegal culture there, but even so, Wells Fargo is a big, traditional bank. The bigs, BOA, WF, Chase and Citi have roughly 50% of market share in the U.S. These are high cost operations under pressure to show profits to stockholders. Their business model is to see how much they can take from customers every month. As a result of how the federal government handled the banking scandals last decade, the smaller banks were hollowed out and are mostly gone, changing the equilibrium of banking. More tech sophistication from online banks allows them to offer better deals, and make a competitive impact in the marketplace. If you have money in traditional bank saving or CDs, you're cheating yourself. Because of these factors, credit unions have gone through radical transformation as well, with the smaller players merging into larger ones big enough to get their tech up to date. Younger customers are looking for great apps and online banking features - modern in every sense. The cultural difference a credit union offers remains - a co-op owned by and serving its members. The biggest credit unions offer a mix of online banking assets, branches AND a focus on service. Learn more about your ad choices. Visit megaphone.fm/adchoices

If you have a need to call customer service, be aware they have a great deal of info on their callers. They may know everything you ever purchased from them, how profitable you are, complaint history etc. Your profitability index score determines how much customer service you'll get. Ultimately the big data that companies keep and buy, means we know nothing about them but they know plenty about us. If you're not a high volume customer, you may find going in person to a store gets you better results. The higher your profitability index score, the better customer service you'll receive by phone. Jobs in tech and engineering generally yield high pay. For others, the big question is whether their education will pay off. The federal government has compiled deep data on the payback on particular courses of study at specific schools. No one school emerges as best or worst value. The desired field of study is key. An interactive tool available in the WSJ adopted from the federal database allows you to pick a school and course of study, and see cost vs earnings payback. Parents and students can see if a degree from a certain school will be worth it. Learn more about your ad choices. Visit megaphone.fm/adchoices

Historically, 1 in 5 Americans move each year. But the Census Bureau finds we are relocating at a much lower rate today, closer to 1 in 10 moving each year. People are staying put, primarily because dual incomes make it more difficult to move. This save people money over time. There's enormous cost in both selling and buying a home - generally 10% in and 10% out. One important exception: It's better for your net worth bottom line to move out of a deteriorating neighborhood. It's worth it to sell and move on because it can take decades for neighborhood home values to recover. The Financial Times of London did a poll concerning American attitudes about healthcare. Premiums, copays and deductibles have gotten huge, so even with coverage, we're exposed to how unbelievably expensive healthcare is in the U.S. The FT survey found healthcare cost is considered the number one economic threat to our nation in many states. Healthcare consumes 20% of the nation's economy. We can not prosper as a nation in global competition with 1 of every 5 dollars of economic output being swiped by healthcare, It's one out of $10 -$12 elsewhere. That gap is devastating to us. We must address this. Hospitals are freaking over new cost disclosure rules. We should have the right to know costs in advance. Learn more about your ad choices. Visit megaphone.fm/adchoices

Coming next year: the electric Ford Mustang SUV - faster than any Mustang muscle car before. Electric vehicles will get steadily cheaper with longer range. The baseline Mustang SUV will cost what any average SUV costs in the U.S. - around $36K. In the next few years, hundreds of electric vehicles will be introduced. They cost almost nothing to operate and maintain, They typical electric vehicle will get the equivalent of 120 miles per gallon. In TN, VW will be introducing a large variety of electric vehicles. The cost of owning and operating a vehicle will collapse with electric cars. Warning: Electric vehicles are much faster than what we're used to driving. Tesla has developed tech to allow parents to suppress horsepower to protect young drivers. Hopefully other car makers will do the same. A decade out it will be routine to buy electric vehicles because they'll be so much cheaper. Most people could come up with an extra grand a year by taking the time to go through their expenses and make cuts, capturing the money we burn without intending to. This is easier today because we have so many tech and subscription services. Start thinking about the $1000 challenge. Many could save hundreds a year just by changing their cell phone plan. There's virtually no one who can't generate hundreds in savings by reviewing how they watch video content. Look a what you're subscribed to. Are you using it? Gyms, video streaming services - go over expenses. Grocery shopping is an area where you can save. Think through what you spend, how you spend, where you bank. Go through checking and credit card statements and look where your money is going. Create a checklist of what you can do to save $1k in 2020. You CAN do it! Learn more about your ad choices. Visit megaphone.fm/adchoices

People have become comfortable subscribing to most anything. But cars is a new frontier. The first efforts at car subscription services appeared in 2017, all aimed at the luxury market. $1 - $2K a month bought a rotating fleet of vehicles as desired. Current services limit changeouts. There are now subscription services competitive with typical vehicle costs. The cost of having a vehicle all in averages around $700 a month. Now car subscription services are appearing that include insurance, maintenance and all fees with no long term commitment for $500- to $700 a month. This allows you to flex vehicle needs from sedans to trucks. At this price level, these will be typical vehicles. This could be a good choice for convenience leasers. The best answer remains buying a used car and driving it until the wheels fall off. Clark’s has talked about Mechanical Turk (MTurk), now the subject of a NYT report, claiming it’s a waste of time paying .97cents an hour. Our own investigation found you could average making around $7 an hour. True, many surveys on the site are a waste of time. But there’s a plugin we recommend to figure out which surveys are worth your time. Learn more about your ad choices. Visit megaphone.fm/adchoices

One Minnesota senior living center is renting out vacancies to nearby college students. Students in residence volunteer hours to senior citizens for discounted food and lodging. Winona State students and seniors benefit alike - Win - win! The mutual benefits of this cross generational opportunity are immeasurable. Meanwhile the predicted demand for senior housing could be exaggerated, as more seniors choose to age in place, accommodated by technology. Adult children can monitor their aging parents from across the country. Apple and Samsung watches provide the capacity for shared health alerts. New services provide a level of care through home visits at a much lower cost than residing in institutional settings. Tech firms are going heavily into banking services. Fintechs offer new ways to handle, save and invest your money. A survey found that of the big 4 tech companies, people trust Amazon the most to handle their money. They've yet to enter that sector. But The WSJ reports Google is setting up banking operations in a joint venture with Citibank and a credit union. Google enjoys a financial trust level greater than Apple. The survey reports the least trust in Facebook, which has trashed its own reputation. Facebook has not shown respect for user privacy - a long term issue that undermines its credibility. Google is trusted 2 to 1 to handle money vs Facebook. The big news for consumers is that change comes from outside this industry. New and improved deals are coming from competitors outside traditional banking. Around 15 years ago, European ING Direct pioneered online banking options we enjoy today, offering superior rates on saving. Traditional banks are limited by legacy computer systems and mergers, leaving them with antiquated, high cost operating systems. Consumers will have more choice from innovators. Learn more about your ad choices. Visit megaphone.fm/adchoices

Google has the most sophisticated search tool for finding travel bargains because they acquired a key industry database. That combined with Google's data capabilities yields up-to-the-second info. They've added a feature allowing you to shop flights to adjacent airports while shopping flights between selected airports. Google.com/flights is able to shop all fares for months at a time for selected and neighboring airports. You can pull up a calendar and see day by day, month by month the cheapest fares. Let's go back a decade + and talk analog financial crime - stolen wallets. It still happens. NEVER NEVER NOT EVER carry a checkbook unless you're on your way to a house closing. If your checks are stolen and a criminal writes checks as if they're you, when those checks pass - YOU get arrested for the bad check. You end up with a record, and having to hire a defense attorney. You have to prove innocence. It's an abuse the way the law works here. 2. Purge all the cards you really don't need. Limit the damage by scaling down your wallet. NEVER carry your social security card around. Learn more about your ad choices. Visit megaphone.fm/adchoices

Retailers now use third party data services to determine whether you get to return an item, regardless of their return policy. "Machine learning" big data companies are crunching data on us all different ways and issuing secret scores, very different from credit scores. The NYT reports on these outfits including Retail Equation, and one called Sift which analyzes 16,000 different factors on an individual to come up with a Sift score for sale. Clark has requested his data from one such company called Zeta Global. Many of these have operated in the shadows, only marketing to companies while stonewalling curious consumers. But California's new privacy law takes effect in January, giving consumers the right to access such data and have it removed. Some of the services are already complying nationwide. They're all terrified of states passing such statutes with differing requirements. We should have the right to control and delete dossiers on us. What happens when these companies get hit with data breaches and all our info is further exposed? Clark will share his requested data files, let you know what you need to access and what rights you have with your own data. Creepy that all these organizations are developing secret scores on us using their own methodologies. Where is privacy? It's not written into our Constitution because early America was so rural, connection was the goal. Privacy is a modern concept that now must be adopted as a national effort comparable to European privacy law which is working well. Christa reads listener posts about how Clark has missed the mark in his advice this week. If you have a "Clark Stinks" to share you can leave it here. Learn more about your ad choices. Visit megaphone.fm/adchoices

In Clark's almost 33 years on the air, an unmistakable trend has emerged. In his first 15 years, there weren't questions about saving and spending in retirement. Since then, retirement questions have increasingly arisen. Why no questions early on? In the 1980s and 90s, people retired with pensions. Today almost nobody has a pension. People know it's up to them to make retirement possible. There are those in the financial industry that thrive on confusion surrounding retirement planning, offering their services to handle it for you. Don't be a sitting duck. Overcome your confusion. Many self-serve low-cost investment companies now offer various forms of service to help you plan. Fidelity has a virtual reality tool. Vanguard and Schwab have programs as well, making it easy for you to invest, commission free at ultra-low cost. You don't need a salesperson. There are wonderful low cost choices. The NY Post reports scams involving crooks trying to pry social security and other personal info out of you are up 23 fold in the last year. DO NOT ENGAGE anyone in conversation who claims to be from the social security administration. They're not calling. Crooks are, and they're calling people of all ages with all kinds of fish stories about why you need to cough up your personal info or pay them to protect your social security. Ignore, hang up, delete. When you own a timeshare you want to get rid of, you face a challenge. Most timeshares have basically no value in the marketplace once purchased from the developers. Marketing costs, commissions et.al. are costs down the drain. Think about the overhead involved in selling a condo unit 50 times vs. 1 time to 1 owner. Real estate value is eviscerated by multiple selling costs. So you're selling an obligation for the next buyer to pay around a grand a year for one week at a condo. Easier to pay hotels and have no obligation. If you no longer love your timeshare, there is the rare chance the original marketer/developer will buy it back. Big hotel chains in this business don't want want the word out about how little that week is worth. They don't want their timeshares on resell sites with you offering money for someone to take it, while they're trying to sell new weeks for $25- $30K. So if they're still marketing active weeks, they may be willing to buy back from you, likely at minimal cost. ResponsibleExit.com is the developers' preferred place for you to list your timeshare. It preserves value for them and helps protect sellers as well. If you're developer is gone, check out the Timeshare Users Group, a $20 a year membership co-op site with a selling forum allowing you to post a week. The best potential buyers are other timeshare owners looking for additional time. Do a traditional closing and have no further legal obligation on that property. Learn more about your ad choices. Visit megaphone.fm/adchoices

A week out from Christmas, many have put themselves in a financial bind. Clark felt that those who used budgeting apps were the type who really didn't need them. But research shows a clear benefit to these apps for problem spenders. People who employ spending apps immediately cut back on food and beverage costs by almost 20%. Overall spending drops 15% for app users tracking spending. There is an advantage to tracking your spending. Mint and similar apps help you know where the money goes. If that doesn't work, go ALL CASH. In severe cases, living within a finite amount of cash means spending drops dramatically. You manage to get by on what you've got. It works. Clark first wrote about this scam in 1993. Exploiting the desire for fame, the fake casting call scam appears mostly via social media these days. A hopeful shows up to great praise, urged to sign a contract and pay money to spark their career. Don't fall for it. If you've got the goods, you get paid. Americans are buying bottled water in larger numbers as trust in public services and government has declined. A Consumer Reports investigation found two thirds of all bottled water comes from tap water. Municipal water supplies are tested multiple times daily. People assume bottled water is safer. The Flint MI water scandal damaged the people's trust in tap water all over the country. 60% of Americans think bottled is safer than tap, but there's more proof to the contrary. Consider using filter pitchers in your home. Consumer Reports found The Stream Rapids Brita and Pure Ultimate with lead reduction, both at $30, improved water taste. Essentially, 2/3rds of bottled water is similarly filtered. So think this through. Drinking bottled water typically costs $1K per year, vs. $30 for tap water you can easily filter yourself - and save - while being just as safe. Learn more about your ad choices. Visit megaphone.fm/adchoices

2020 will bring deals on breakfast. More people eat breakfast away from home. McDonalds and Starbucks account for almost half of breakfast buys, and other fast food chains want a piece of that market. Wendy's is giving breakfast another go. In the new year, there will be more competition for your breakfast dollar, expect discounts galore through 2020. Pay attention to discounts from your favorite restaurants through their apps. AARP reports on financial exploitation of the elderly. Research put the average take at $120K over time. Bank account rip offs average just under $50K. One third of the victims are 80 and older. Often it's a family member / caregiver taking advantage of an aging relative. The holidays bring families together. Adult children need to know what's happening with their aging relatives. Scattered families facilitate this crime, so take time to understand what's going on. You don't want to regret not protecting your loved one. Please remember to be nosy and ask questions. In massive numbers, people are cutting the cord - canning pay TV from the cable, phone or satellite companies for streaming. Streaming offerings and charges are changing all the time. In 2019, many streaming offerings have been free. But for many, getting local channels has been a roadblock to cord cutting. Locast.org now covers more than half the population of the U.S. This non-profit provides streaming for local channels. If you can't put an antenna up or get a good signal, you're able to get local channels streamed via Locast. The traditional pay TV bundle will soon be so last century as it becomes more efficient and cheaper to stream TV. Learn more about your ad choices. Visit megaphone.fm/adchoices

So many are languishing in low paying jobs, unable to get ahead. See the Clark.com story on jobs that don't require college degrees and pay at least $70k per year. The Bureau of Labor statistics provides the data. The number one job - Air traffic controller - does require 2 years of training and retirement at age 55 - $125k per year. That may be too stressful for many. Job number 2 - Logistics (transportation, storage or distribution) manager at $95K. Police department supervisor - wages vary by location - $90K on average. See the full list including required training and education. A Bankrate survey reveals that more than 1/3 of those who have lent money to or cosigned for family or friends, have suffered financially with their credit ruined, money lost and/or the relationship damaged or destroyed. True example: Someone who cosigned for a friend's vehicle later had to pay for a repossession for a vehicle that had no benefit from, which ruined their credit for years. If you lend money to a friend or family member, think of it as a gift. Do not expect to get paid back. If they were good for it, they'd use a bank. Secondly, don't ever cosign a loan unless you can afford to deal with the consequences if the borrower chooses not to pay. And make sure you're aware in real time whether the payments are being made on time. If not, step in and pay, because you're fully legally responsible, no matter what. At January's CES convention Clark reported on app-based toothbrushes. It seems that both children and adults generally do an inadequate job of brushing. Expect to see app-based toothbrush systems peddled over the holidays. These systems vary but generally monitor and guide brushing. Prevention is key. This could save you dental trouble. Also, dentist are migrating to precisioned designed, near perfect 3-D printed crowns, which can be completed in one visit. This technology is in use for only about 15% of dental practitioners, but as more adopt, it gets cheaper and better. Learn more about your ad choices. Visit megaphone.fm/adchoices

Clark discusses some newer apps that help you shop at local businesses. Christa reads listener posts about how Clark has missed the mark in his advice this week. If you have a "Clark Stinks" to share you can leave it here. Learn more about your ad choices. Visit megaphone.fm/adchoices

LinkedIn has published a list of the top 10 emerging jobs. The trend is clear: STEM jobs are happening. 7 out of 10 are related to tech, computers and science. Don’t go STEM if you have no aptitude. But if so, the career paths are wide open. Some for profit schools have taken advantage of students, recruiting them with false promises. The University of Phoenix has historically enjoyed a good reputation. Now the school must absorb a $50 M penalty and $141 in student loan debt from students who attended under false pretenses, having been told the school had corporate partners directly hiring graduates. The FTC found that was all made up. False advertising to this effect started in 2012. Students enrolling based on those false promises of corporate partnerships are eligible to apply for having their loans wiped out. A Financial Review study looks at how people choose the funds in a 401k. An employer will supply a list of fund choices. People are most likely to put money into the first 4 funds they see on the list. If you’re not into investing and your plan offers a target retirement funds, that’s the easiest, wisest choice to make. Pick the year closes to your projected retirement and the fund adjusts accordingly over time. For Roth investing, also do the target retirement fund. Keep it simple. If your company 401k offering doesn’t have target retirement funds, if you’re under age 45, put the money a total stock market index fund, or a 500 stock index fund. You could also put some of your money into a total international index fund. Conservative investors should consider putting 20% in a total bond index fund. 3 funds could get your money widely allocated to lower risk in times of decline. Choose target retirement funds when available. Learn more about your ad choices. Visit megaphone.fm/adchoices

Clark NEVER ever settles a personal score in any public forum. But he will share how he’s been able to solve a problem. Last year Clark bought a deal on a new MacBook for his son’s school work from Woot. When the keyboard malfunctioned, Clark took it in for repair and was informed the computer had been refurbished. Customer service at Woot is moot – Clark’s attempts at reaching them ignored. Clark filed a complaint with the BBB. Clark received a response from Woot offering a full refund after sending back the computer. The response gave no admission of guilt – but a full refund. When you have a customer service issue, don’t give up. Keep trying different approaches to get to a result. There are many different levers you can pull. Had they ignored the BBB, Clark would have attempted the arbitration. Fraudsters are selling snake oil cures to the desperate terminally ill. Clinics have opened up around the country promising stem cell treatment cancer cures. The Washington Post reports one such clinic claimed an 80% cure rate, when actually they cured no one. The FDA is trying to go after these clinics but they morph to survive. Stem cell treatment become bogus blood treatments. Better to find a university based research center doing advanced work on the illness at hand. The Atlanta Constitution reports on how a rideshare passenger and driver impacted each other’s lives. After getting acquainted during the ride, the benefactor passenger paid for the driver to finish her degree at GA State University. She worked 2 jobs, raised 3 sons and had run out of funds to finish her education. Passenger Kevin was so impressed with her life story, he was inspired to help her. He made his way to the registrar’s office, paid off her tuition and paid forward for the rest of her education. Now at 43, she has completed her degree. Now she aspires to attend law school! Story 2: USA Today reports how a MD real estate firm doled out bonuses to employees at total of $10M at the company Christmas party last weekend. Employees received $50K on average. The smartest capitalists share success with those who make it happen. Many in business who have a great year don’t think beyond themselves. But nothing substitutes for making an employee feel like an owner sharing in success. Learn more about your ad choices. Visit megaphone.fm/adchoices

The lines for returns start Dec. 26. Often you’ll get a gift card to use at that retailer to shop. The week between Christmas and New Year’s has become one of the busiest shopping weeks of the year, and an expensive one as well. Lines, crowds and higher prices. Better idea: January 6th or later is when to return items, unless that retailer has a tighter window on returns. By January 6th and later, shoppers have evaporated and excess merchandise and previous returns all get marked down. No crowds, no lines, lower prices. Amazon gifts can come with return vouchers. Make sure when you open a gift delivered by Amazon, you find the gift receipt in order to do a return if need be. Yes it’s hard to consider switching banks but Wells Fargo continues to prove it’s a criminal enterprise posing as a bank, unworthy of being trusted with you money. Follow up on a previous story – $2.5M of a widow’s inheritance was stolen by her Wells Fargo broker trading at Wells Fargo. The broker is alleged to have forged documents to generate massive fees. The only recourse: arbitration. Concurrently, the Office of the Controller of the Currency has sanctioned WF for ignoring employee grievances. They’re doing nothing to investigate employee complaints. You are at risk if you do business with this company that REFUSES to do right by people. About 1 in 8 of us are self-employed or have some kind of side gig. Tax is not being withheld with this type of work and you could get hit hard at tax time. You’re expected to pay 15.3% to social security and make estimated tax payments 4 times a year. If you don’t, you’ve under withheld and are penalized. If you also have a regular job, do maximum withholding, averaged out over the year by the IRS, to reduce penalties for not having paid through the course of the year. If solely self-employed, pay the IRS the sooner the better to stop the interest and penalty clock. You’re expected to make estimated payments 4 times a year, state and federal. For the solo self-employed, you can do a solo or self-employed 401K with generous limits to reduce your tax bill. For high earners, a SEP has a limit around $57K per year you can set aside for retirement, fee free – all to reduce the tax you’d owe otherwise. Learn more about your ad choices. Visit megaphone.fm/adchoices

Clark discusses the current economic situation. Unemployment is low. Hooray! But pay has not gone up as much as it should have considering the current unemployment numbers. How much should you tip during the Holidays? Clark talks about who you should consider being generous with this time of year and what amounts to a fair tip amount. Learn more about your ad choices. Visit megaphone.fm/adchoices

Next year we’ll see many great airfare bargains domestic and international. Allegiant, Frontier and Spirit, the 3 hard discount airlines are having a big impact on airfares all over the country. When they come into a marketplace with a flight even just twice a week, airfares in that market on other airlines decline. According to Hopper, there’s a 17% rate drop when a new flight comes in from a discounter. Another factor for lower airfares in 2020: Eventually the Boeing Max is going back in the air. The influx of more aircraft will have an effect. The Southwest effect: Fares drop by over 60% when that airline enters a market. As Southwest gets the Max back, there should be a bargain affect. When a new route is introduced, deals appear. Christa reads listener posts about how Clark has missed the mark in his advice this week. If you have a "Clark Stinks" to share you can leave it here. Learn more about your ad choices. Visit megaphone.fm/adchoices

One recent study reports a record 5.7 billion robocalls were made in Oct. alone, up 25% from the month before. That translates into 182 million robocalls per day, or over 2 thousand per second. Experts predicts by year’s end, Americans will have received about 60 billion for the year. Phone companies make money from robocalls. The FCC is putting heat of telecom to address the problem by the end of the year. The industry solution – Shaken/Stir, could take years to meaningfully remedy the problem. Shaken/Stir will reduce robocalls at best but the problem will not go away. Filters like NoMoRobo can only block numbers known to be spam, while robocallers & scammers keep switching lines to get around filters, or commit spoofing. Most workers don’t receive pensions anymore, except for many state and local employees, many of whom are underpaid. Generous pensions are promised in return for years of service. The Economist reports state and local pension plans are underfunded. Either pension promises will be broken or taxes will have to go up. The real solution is better pay for state and local workers and 401K plans like workers in the private sector. Underfunded pension don’t work for taxpayers or government workers. About 1/4 of Christmas shopping is being done online.That means a massive number of packages circulating. Criminals are engaging in porch piracy on a scale never seen before. Many homeowners are putting in cameras. For theft prevention, several companies are selling connected package receiving boxes, accessed by delivery workers via one-time use codes, able to alert the owner to a delivery. The boxes can be at the street or at the front door. It’s become a burden for apartment and condo staffs to handle packages. Amazon is pushing their lockers in Whole Foods locations. Walmart and Target have package pickup. FedEx and UPS stores have pick up locations. Learn more about your ad choices. Visit megaphone.fm/adchoices

It’s estimated 1 in 5 U.S. adults has a thin or no file by traditional credit reporting methods. A new regulation was issued yesterday giving the green light to new methods of measuring credit worthiness. Rent and utility payments can now be considered along with other behavioral analyses. Many young adults can benefit from this. What you spend vs what you earn is a new and very valid criteria for new scoring models. Do you live on less than what you make? Good saving habits are an indicator of a good bill payer. This hasn’t been a factor until now, to determine credit worthiness. The banking industry moves slow, so expect to see this first adopted by fintechs. Petal Card is among the first to use alternative scoring models. Many have made a habit of unplugging everything before leaving home for a few days, to cut down on power use and for safety reasons. Vampire electronics – Dracula devices are thought to eat up home energy. USA Today’s Know Your Stuff column reports that today’s modern appliances and electronics do not eat power when not in use. The energy consumption of at rest appliances and electronics is only 10% of what it used to be. If you’re going on a trip, consider unplugging power strips. The number one thing you should do to save on energy is use LED lighting. Smart thermostats auto adjust to maximum energy efficiency. These are simple ways to save on power. Clark discusses which toys made the list of unsafe items this year. Be careful what you buy for your kiddos! Learn more about your ad choices. Visit megaphone.fm/adchoices

There’s been a huge increase in the number of fake reviews. Consulting firm Pattern found for an item listed on Amazon, a one star higher rating leads to a 30% increase in sales. The marketplace incentives for fake reviews to boost a score are so enormous, fake reviews have infiltrated the retail landscape. According to Fakespot, in addition to Amazon this is a problem at Walmart.com. There’s no reason to believe it’s not a problem across retail sites. 35% of all reviews on Amazon are fake, often generated by paid writers from overseas. This makes it important to read reviews because you can tell when they’re bogus. Most people only look at the number of stars. Red flag: when an item only has 5 stars be suspicious and read on. Check Consumer Reports rating for the most trustworthy assessments. Gift cards remain popular, but 40% of Americans no longer wish to receive them because of all the fraud. Criminals gain access to secret codes enabling them to empty the cards upon activation. LA Times columnist David Lazarus reports gift card fraud has gotten more sophisticated. Now hackers have compromised the entire gift card system, able to use a computer program to figure out secret codes and card numbers for most every card issued. They can now compromise cards at will, and generally the retailers don’t make good on the ripped cards. Caution! Know the risk has increased and retailers have failed to provide adequate security to protect gift card purchases. Dealing with trash is a huge expense for municipalities. But city and county recycling efforts are not profitable today and attempts to do so are burdening tax payers. There’s been a technological breakthrough developed by an Israeli company that’s gotten worldwide attention. Startup UBQ Materials is using a new method that’s achieving zero waste. New machinery can sort, chop, grind, shred, clean and heat garbage into a thick liquid, which can be turned into pellets and reused in manufacturing. Full upcycling has been achieved here. The conversion of all waste into a potentially valuable product has enormous advantage to society, including the elimination of landfills. Key: solutions must be economically sound to be sustainable. We face strong demands on water and other resources, disease from waste and other problems. Solving these problems in such a fashion will make it green (profitable) to be green. Learn more about your ad choices. Visit megaphone.fm/adchoices

Stores were not crowded on Black Friday this year. Clark visited Costco, Target, Walmart, Microcenter, Ollie’s & Five Below just to get a feel for retail that day. There were no real crowds. Patterns have changed. Around 23% of holiday shopping during Black Friday month will be done online, up significantly from last year. So much of shopping has shifted to click and collect. It’s convenient for shoppers to order online and pick up their merchandise. Costco stepped up promotions this year with an emphasis on Costco.com, but marketing got ahead of operations, resulting in a massive computer failure, crashing the site. It’s gotten too easy for consumers to take out personal instant loans right on their smartphone. This is a booming business, with solicitations everywhere including on social media. The average loan is over $15K and as much as $30K. 20 million have done so thus far. These loans carry a moderately high interest rate. Many of these loans are being taken out for lifestyle. An Experian survey finds that 1 in 3 Americans acknowledge taking out a personal loan for Christmas shopping. Anytime you borrow for lifestyle, it comes back to burn you because it leaves no cushion in your life for the unexpected. Remember what really matters is time spent with loved ones. Bake or do something nice for someone in lieu of spending, because going into debt to keep up appearances is unwise, creating anxiety and financial pressure in your life. More than 1 in 3 Americans rent. The screening process is important to this 37% of U.S. adults. Historically a landlord would run a credit check and maybe check references. But today, large scale landlords are adopting more sophisticated tools using AI and deep data to come up with a renter score. Being judged on broader criteria can be a plus for those in the gig economy, no longer limited by traditional income ratios, and for those without traditional credit. The algorithms vary, but all use an array of factors – totally different than how screening has been done in the past. One model considers the type of debt an applicant has, weighing student loan debt less than credit card debt. Different factors are in play to determine suitable tenants. Small landlords generally are not using these models. Large corporate apartment complexes may be using several. One complex may reject you or require a large deposit, while another may give the go ahead. Learn more about your ad choices. Visit megaphone.fm/adchoices