Money — Akron Today Magazine

Shopping Around – The New Norm

September 15, 2017 by Ron McDaniel

Shopping around for items is normal, but many people are moving towards shopping for items and services that used to not be questioned. Prices can be very different from one place to another depending on the vendor. And things that used to be a monopoly have a high degree of competition now. This week I saw a friend on Facebook complain about a new medication he needed be $500 a month and not covered by insurance. Within an hour he had people telling him how to get it for $60 and places he could maybe get it free (from manufacturer) and how to do it.

Facebook and other social media channels are helping people collaborate and share information to find better deals on things. But are you looking for better deals when it comes to some of these things?

Utilities – By shopping for utility providers, you can reduce your rate significantly. Put when your contract is up on your calendar and reshop for it once it expires or your rate will go up and not one will notify you.
Medical – The exact same procedure can be radically different from place to place. Some people even find it cheaper to go to another country and have a medical vacation versus just taking the first offer on a medical procedure. (Please do not shop around if it is an emergency though!)
Auto Repairs – If you are one of those people still going to the dealer, you are paying too much for some things. I do like the dealer for maintenance but not for big jobs unless it requires a specialist. That said, this is one area asking around is very important. Just taking the cheapest person to fix your car can be a nightmare.
Prescriptions – Not only does the place matter, but there are programs that will give you a discount at your pharmacy, whether in Akron, Hudson, Fairlawn or Aurora.
Cars – Sure we all shop around for cars already, but did you know if you know what you are looking for and you start calling dealerships (especially if you are a little flexible) you can get a great deal without ever setting foot on the lot (until you buy)?
Entertainment – I cannot even say “TV” or “Cable” anymore because there are so many options for entertainment. Do you just watch movies and tv shows? You probably only need a streaming service. The trick here is to know what you can’t live without and then shop around for the entertainment necessities and cut out the unused stuff.
Insurance – If you got the best price on insurance more than a year ago, why have you not shopped it around again? For example, we got a great deal on insurance a year ago and this year they raised the price about 30% for no reason. Clearly the first year was a discount to get the business and they hope people will not move after year one and the price increase. Time to start calling around.

I wish it was not such a hassle. It is an unfortunate byproduct of our hyper capitalistic economy that businesses are always using gimmicks, specials and tricks to squeeze more money out of you. You can either accept the games and pay more or you can manage your buying and pay less. The choice is yours.

Is It A Scam? How To Spot a Scammer

September 6, 2017 by Ron McDaniel

Even the least technical among us now are wired into the vast computer network called the Internet and using apps built by people all over the world. Most of us are comfortable putting some portion of our identity out there online in many different ways. And the fear people use to have about using credit cards online is not as common as it once was.

With all of this, it is more important than ever to be able to spot a scammer and prevent the theft of your identity or money.

What is a scam?

First, you do not want to be able to trust anyone. Someone asking for your email address to enter a contest is probably just good marketing and not a scam. However, any time you enter your email you should consider if it is worth it. Do you want regular emails from the company or website in exchange for a tiny chance to win something?

Email Scams

Email has been very difficult for even highly educated technical people. Once one person has their inbox hacked, then anyone in that inbox can get emails from anyone else in that inbox with links to viruses. If someone you know sends you an email saying “I found this link for you” or something like that – do not click.

Also, anyone offering you money or needing some info when you did not initiate the contact should not be easily trusted. Remember, your bank, the IRS and other organizations can be called to confirm that they need something from you. Use a trusted phone number, not the one in the email you are unsure of.

Job offer in email? This also could be a scam. Many Multi-Level Marketing companies lure people in with a “job offer” to get them into the MLM company which costs money and does not guarantee any income.

One way to quickly find these things out is to search “company name scam” and read some sites about it.

Software Scams

Any time you give software permission to install or access your computer you are also giving them access to everything on your computer. This means you should only install highly trusted things. While the average person might think

I have virus protection and
This software must have been reviewed by someone

These are not always the safeguards you think they are. Virus protection does not protect you from giving software you install the right to access your computer, unless it is a known and documented threat. And new threats come out every day.

Also, the idea that code is reviewed is not actually possible or practical. There is a lot more trust involved than the average person realizes.

All of this means you should be careful what you install and also careful what you keep on your phone and computer.

Phone Scams

Phone scams occur in many forms. Automated voice as well as people calling. Just as in emails, you should not give information to people that call you. If you call a company directly like your credit card company, the IRS, your medical company – then you know you are talking to a real representative. I once had a company send me an email from their company email to verify they were real. While even this could be faked, it would take some time so it gave me the confidence to do business with them. Nearly always I do not even answer calls though.

What can be especially dangerous is when you are new to a category and do not know how the systems work. For example, college or turning 65. If people know your age they can guess that you are experiencing new systems such as college registration, scholarships, medicare, etc. Much easier to trick someone new to a system like this so you have to be extra vigilant.

Mail Scams

Mail is just as dangerous as any other form of communication. One common scam is looking up people’s ownership information if they own a domain (this is by default public information) and sending them a fake invoice for domain SEO. It will be something like $75 per year. Since the domain is a once a year type renewal, people forget the process and pay these fraudulent invoices. You should have your domain set up to auto-renew and you should check it once a year online to make sure your credit card has not expired. It is very unlikely they will send you a paper invoice.

These are just some of the scams you can get hit with. It is changing all the time and some are very sophisticated. Be smart and skeptical of anything that sounds too good to be true. Stay safe.

Akron Family Resource Guide

February 24, 2017 by Ron McDaniel

This is the ultimate family resource guide for Akron Families.

Are you in search of a better bank for you? Do you want to know if there are close banks near your home, or if they offer a better rate to refinance your home mortgage? Are you looking for a better price or company for your electric or gas supply? This small list will give you the places you need to go to compare your current rates, prices, and services from other banks and energy suppliers. Check them out and compare.

Interested to know how your school district is doing? How about your particular school?

To find a better bank. Go to:

FindABetterBank.com. You can find the locations, fees, and best bank options after you enter basic information for them to you your search. They offer you many choices and even after that you can compare up to 3 banks to see who offers the best deal for you. This is truly a no brainer.

To compare Electric or Gas suppliers rates. Go to:

http://www.puco.ohio.gov/

Check the prices, contract’s lengths and fees, and take the best option for your family.

Do you want to compare your child’s school?

There are several places that you can go and check out the place where they are educating your children.

U.S. News &World Report – Best School Districs

https://www.usnews.com/education/best-high-schools/ohio/districts/akron-city-102127

Akron City District-If you are looking for the best high school.

http://www.usnews.com/education/best-high-schools/search?district-id=102127&state-urlname=ohio

Middle school Ratings –http://www.greatschools.org/ohio/akron/schools/?gradeLevels=m

The Ohio Department of Education offers resources for testing and to find your district’s or school’s 2016 report card.

http://education.ohio.gov/Topics/Data/Report-Card-Resources

Do you have a junior or senior in high school looking for a college? Here is a link to the National Universities Rankings for them to pick and choose.

https://www.usnews.com/best-colleges/rankings/national-universities

Would you like a resource you would like us to include? Send as an e-mail. We would be happy to include it in a future article.

Children’s Gifts-What Are you Doing with Them?

February 20, 2017 by Ron McDaniel

Children’s birthdays, Christmas, or any other holiday where they received cash for the occasion, is a very nice day for older children if they know a bit about the value of money. For little children, it’s just funny to look at their faces when they open an envelope and out comes a $20 dollar bill or a check. They push it aside and continue with the box that actually has a toy of some sort.

So, what are you doing with that $20 dollar bill or check? They got it for-let’s say their birthday— but what are you actually doing with it?

You know, and they know they actually don’t need more gifts. They probably have their rooms full of all sorts of toys that haven’t been touched in months, and they probably have more video games than GameStop.

Then , what do you do with their money? Does the money then goes into your checking or savings account? Are you keeping track of how much money you have put into your personal account over the years? Are you planning on reimbursing them later on? With interest?

It is so easy, isn’t it, to forget that the money is actually theirs? After the party and the cleaning, the stress or anxiety level drops and we forget little things that need to be taken care right away. A lot of people forget.

When our daughters were babies and were receiving a $20 dollar bill from grandpa and grandma, we did not open a savings account for them right away. We never slept a whole night for four months with our first daughter, can you imagine us thinking about investing their gift money then?

We opened a savings account for our daughters a while back with the money they received at Christmas and birthdays from family members – Yes, we did reimbursed them— The interest those savings accounts were earning was pitiful. We took the cash out and opened an account at an online investment company. We don’t regret it. We stuck with safe stock options, haven’t sold them, haven’t traded them — it’s $6.95 per trade — and we do not panic when their price goes down. We are in for the long run with their investment, and hopefully you will start investing their birthday money too. When they’re 18 and want to have control of their money, then it’s your choice if you want to be an advisor or let them have full control of their investment.

Little by little, those gifts can amount to something. If you have a financial advisor, ask for advice. This is only for you to start thinking about taking small steps with money that they probably don’t need right now. Think small first, when they’re older and see what you have done with their money they’ll thank you.

Happy Investing!

Made in Akron | Heard Worldwide

January 4, 2017 by Ron McDaniel

A recording studio in the Akron Ohio area works with advertising professionals and video producers to create soundtracks for some of the best known brands in North America.

2016 was an exciting year for Audio Concepts, filled with great clients, innovative sound designs, introductory videos, corporate presentations, digital and broadcast media all recorded, mixed and produced at its production studios in Bath Ohio.

Most sessions at Audio Concepts begin with “I’m looking for a voice…” The voice is what connects your message with your audience. Each year we are contacted by hundreds of talents from throughout the world, but select only a few to be part of our world-class voices. Unlike internet sites, every talent with which we work is carefully screened and auditioned. We know what each can deliver and the nuances that make them unique. Whether you’re telling a story, launching a new product or describing the most complicated procedure, Audio Concepts is where your creative finds its voice.

For over 30 years we have specialized in finding just the right voice for your message. In that time we have recorded the best talent available and today we have what our clients believe is a cadre of voices that are second to none. Last year we cast, directed and produced audio to introduce consumers to an Alexa embedded lamp from GE, numerous political campaigns, safety training for Davey Tree, international voices for Quanex and Vision Ease to name just a few.

But casting is just part of the Audio Concepts story. The power of sight and sound combine into the ultimate media experience. Video production companies rely on our sound design and mixing expertise to take their ideas from imagination to inspiration. Our innovative sound designs enhance, captivate and engage, creating the kind of involvement
today’s consumer demands.

In 2016 we created and mixed soundtracks for the Tampa Bay Buccaneers Raymond James Stadium renovation project, Goodyear dealer meeting videos, HP Products, and North American broadcast commercials for Liquid Nails, John Deere, Wayside Furniture, Stanek Windows, Wood County Hospital, Patio Enclosures and Bombardier Recreational Products Ski Doo and Sea Doo brands.

Every script is different and requires a unique approach. We work with each client to
custom craft the sound that that enhances the visual experience and speaks to their audience.

Discover what our clients already know; that its more than just our studios, world-class talent and extensive sound design experience that makes us different, it’s our uncanny ability to take your creative and make it sound extraordinary.

Find out more about our work from 2016 at

hearaudioconcepts.com/made-in-akron-in-2016/

What is Probate and why should you care?

December 21, 2016 by Ron McDaniel

Many people do not know about probate until a person has died. When a person dies, their will and other legal assets have to go through the probate process. This is often done by a probate lawyer because the process can become very complicated. When family members are involved it can create tension so having a neutral third party can help the process along.

Akron families can protect themselves with planning and finding an Akron probate lawyer.

When a person dies they leave behind debts, tax bills, property, and other assets. All of this is called a person’s estate. When a person dies with a will in place, by law the estate needs to be administered. This is done by a person called an executor. The executor will read the will and notify the beneficiaries that the process has begun.

Many people do not understand that even if they die with a paid off home and cars that their debts still need to be resolved. This is why most probate lawyers ask people to give a specific percentage of their estate’s value to each beneficiary. This way it does not become too confusing to administer after the debts are paid off.

This process can be lengthy because creditors need to be notified of the deceased person’s death. Some creditors will even ask for a death certificate as proof that the person has in fact passed away. If the person has a life insurance policy then that needs to be administered either by the insurance company itself or the executor. Some people decide to leave their life insurance proceeds to one person or to their estate so that it is divided equally among the beneficiaries.

The first thing that needs to be done is to submit the will to the court in the state where the will was filed. A petition will need to be filed with the court that states the deceased person’s full name, if there is a will, and when the death occurred. Then, the court will review the information, appoint the executor of the estate, and see if a bond needs to be given to the estate. After this process is completed, people who are related to the deceased, those individuals named in the will, and creditors will be notified by mail that the court has received the will and that the estate is now being dealt with.

After this, the probate process begins; it can take more than a year to get a will through this process. It depends on how well the parties that are involved deal with each other. If someone challenges the will then it can take years to close the probate process. When dealing with the probate process it is a good idea to consult a probate lawyer. They can help guide people through the process to make it easier and much less stressful.

Akron Business Networking

December 7, 2016 by Ron McDaniel

Akron is full of things to do. But if you are starting a new business or if you want to get out and meet more people because you are in sales, you have to know where to go.

What many people do not realize is that not only is there an Akron Chamber of Commerce that provides business networking opportunities in Akron, but there are many other chambers as well in all the surrounding communities. I have been to Fairlawn, Kent, Stow, Ravenna, Streetsboro and more different chambers.

Beyond that, Rotary is in many of these same communities.

Then you have professional networking organizations that provide specific networking opportunities. One I was in was B to B Connect which generated a lot of referrals for our business to business marketing agency at the time. They had groups in Kent, Stow, Akron, Streetsboro, Aurora and more locations. Because the same group meets every two weeks, you get to know people better and even if you do not get business, you will probably develop some good business friendships.

Network After Work puts on events in Akron and Cleveland as well and you do not have to be a member to attend and meet some new people. The combination of events to meet new people and other events where you get to know people better is very powerful over time.

Then you can check Facebook Groups, LinkedIn and MeetUp to find even more things going on in Akron for business networking. If you want to go to something new every few days you should be able to find something.

Some tips to networking better:

Follow up the next day – nothing is more frustrating when people do not follow up after meeting.
Do not expect sales – look to grow your network of connections and keep them fresh (reaching out regularly) and the sales will come over time.

Sure you can go to Cleveland which has come great events as well. But chances are you can find all the new customers you want in the greater Akron area if you just know where to look.

Becoming a Work at Home Parent

November 17, 2016 by Ron McDaniel

Are you a full time working parent working the 40 hour week? Would you like more time with your kids and a more flexible schedule? Have you ever thought about a work from home company? It is possible as more and more moms are turning to working from home. It might be time for you to find that work from home business income opportunity that will fit you.

All you have to do is type in work at home and a whole list of opportunities pops up on the screen. You have a choice in almost any field of your choice. There are many companies and businesses out there that are looking for people who want to own their own work from home company. There is much to be researched before jumping into the first one that grabs your attention.

You need to first start out by getting information on each and every company that you are interested in. If possible start a business in something that you find interesting. You will have more success if you enjoy what you are doing. Wanting to start your own? Write some ideas out and just as you prepared for your baby, you need to prepare for your business. Get some money saved or at least get used to dining in more often than out. It takes money to make money.

Being a work at home parent can be very rewarding. You can have the freedom to work when you want and still be with your children. Many moms and even fathers are choosing to stay at home and work from home as the economy is tight. There are many different things you should look into before starting and be sure to do your research thoroughly. As with many businesses, you will have to invest some money but as far as how much, that all depends on what type you decided to do. They can all range from less than $100 to several hundred to start.

One option if you enjoy it is writing. Maybe even publishing your own local magazine. Many companies need writers to help with websites and social media.

Make sure you stay organized, find some good marketing and advertising that will get your name out there, and be sure you have a home office set up so that you can concentrate on the task at hand. Lastly, be patient. Rome wasn’t built in a day and your business will take some time to become established and to get going. It will all be worth it in the end.

Options to Improve Retirement Prospects

August 29, 2016 by Freelance Contributor

According to the Employee Benefit Research Institute (EBRI), many Americans are falling short when it comes to saving for retirement. In 2015, 28% of Americans had less than $1,000 dollars saved, and a whooping 64% had less than $50,000. And although the savings so far are not much, the confidence of those interviewed believe they will have enough money saved by the time they retire. How can that be possible you may ask? One of the reasons they believe they will have enough saved for retirement, is because they have started a retirement account and have started contributing to it. They believe that now that they have started, they will continue saving till the time comes to retire.

While retirement plans are not always available through their employers, many individuals should be happy to know that the ease to open a retirement account through other mediums is fairly easy and pain free. There are many companies out there that can have an account open for you within minutes, and can give you a list with a few steps to follow to roll over a 401(k) retirement account from another brokerage firm.

Remember to do a bit of checking to find out which companies offer you the best deal for you. If your current brokerage firm’s management fees are eating up your earnings, remember there are many companies with lower fees that can do better, or comparable to what your current firm is doing. There is no need for you to stay with an investment company that takes all your earnings, and the initial capital invested has not grown.

Wealthfront is an online investment company where investment for a new person should be pretty easy to understand. They advertise zero trading fees, zero hidden fees, and if you need the help of an advisor, their cost is a fraction of other traditional advisors. Wealthfront is an example of the many investment companies that you can turn to when beginning to invest for your retirement.

If you are wondering whether you need to keep or buy a life insurance policy for when you retire, talk to an advisor right away, specially if you have no other dependents to take care of, or your children are all grown up.

Long-term care insurance coverage is probably one of the many concerns Americans have for when they retire, and many are unaware of the costs. But even if you managed to saved enough for retirement, needing long-term care at a hospital or nursing home can eat up your savings pretty quickly. So planning for long-term care insurance coverage now, can help protect your savings in the future.

Protect your investments and your retirement by making good decisions now. Talk to a professional advisor to find out what you need to do now, to retire comfortably.

3 Ways to Boost Your Home Value on the Cheap

August 2, 2016 by Freelance Contributor

It’s now a good time to buy or sell a home. However, overspending many times to boost a home’s value is not a good idea. Some things can be done at a lot cheaper price, but the outcome will be a lot better than expected.

With that in mind, the following are three ways to boost one’s home value for more affordable prices. And even though some of these steps may seem minimal, the value will spruce up greatly:

1. Clean up thoroughly.

From a few bucks to a few thousands dollars depending on the amount of clutter, weird smells, and grime, cleaning thoroughly from top to bottom, inside and outside the home, and in garages and other areas outside the home go a long way. And the potential return from doing this step is three to five percent.

When cleaning thoroughly, one must depersonalize the space so that potential buyers can visualize how they can use that space. Even the opening of the curtains and blinds to let sun in will give them a better feel, and it would make the space appear bigger. For spaces that are severely cluttered, a professional organizer can help, and there are places like the Salvation Army who are willing to pick up belongings that are in good condition but is no longer needed. And with the harsh winds causing dirt marks and debris on homes in the Midwest, like Akron, OH, it’s important to do some power washing on the exterior of the home. One would be amazed of the significant difference after the thorough power washing.

2. Paint the rooms selectively.

Painting the walls a neutral color is always a good idea because potential buyers can visualize how they would use the space. Also, neutral colors go with any type of furniture they may want in that space. With this said, depersonalization is key here. Having purple walls may be great for the current residents, but it may be a turnoff to potential buyers who may automatically be withdrawn from buying the house because of that. Also, painting the walls are important because it makes the place appear bigger, cleaner, and fresher.

3. Fixing minor fixtures.

Whether it’s caulking the tub, fixing light fixtures, getting the burnt mark off the counter-top, or replacing some shingles that are more affordable and with a warranty, these steps would definitely make a great difference. It only costs a mere $100 to a few thousand dollars, depending on what all needs to be done. However, the potential return would amount from two to seven percent, depending on the work done.