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Money January 2014

Dollar Sense

Potpourri: Important Things You Should Know about Money, Security and Other Stuff

By Teresa Ambord

A sharp teller will notice when a familiar customer starts taking out unusual cash withdrawals, or suddenly appears nervous, or under duress, especially when accompanied by a particular person. For example a coercive caregiver might be pressuring the senior to give him/her cash.

Working While Collecting Social Security? Don’t Lose Benefits

If you are collecting Social Security and are still working, or hope to get a job, you need to know how much you can earn before you begin to lose your Social Security benefits. The answer depends on your age compared to what the government considers your full retirement age. If you are between age 62 and your full retirement age, in 2014 you will lose $1 in benefits for every $2 you earn over $15,480. So if you expect to earn much more than that, it might be a good idea to delay your benefits.

 

Wish You Had a Doctor/Attorney/Real Estate Agent in the Family?

From time to time, we all have simple questions that require just a bit of professional advice, from a doctor, a veterinarian, an appraiser or some other pro. Maybe your neighbor is doing something that you suspect requires legal attention, but you don’t want to pay an attorney unless you know you need one. Maybe your dog has a weird little pimple on her belly. Does she need a vet or an over-the-counter ointment? When you are not sure how serious a situation is, it can be intimidating to visit a professional. You might just need a simple answer and end up spending a bundle. That’s when you wish you had a doctor in the family.

If that describes you, try this. Pearl.com is a website where you can have a one-to-one conversation with a professional for a small fee, and get real advice. The average cost of getting your question answered is $30, but depending on the professional, it might be as low as $15.

Sure you can search for advice on the Internet for free, but there is no way to know if the advice is from a genuine professional. After all, everyone and anyone can pose as a professional on the Internet. Pearl.com strictly verifies the knowledge of its professionals to ensure they are genuine. In fact, they only accept 5% of the people who apply. (See below if you are a professional and want to make some money.) You can log onto Pearl.com or call 800-785-2305.

 

Need to Make a Little Money? Maybe You Are Professional Who Is “Pearl.com Worthy?”

If you have a strong skill set and are looking for a little extra income, maybe you should be one of the Pearl.com professionals. As I said, only a small percentage of applicants become Pearl professionals, but what do you have to lose? According to the Pearl.com website in the section for becoming a professional, you can work when you want, from where you want, and only when you want. The fee paid by callers is shared between you and the company. Check the website for a list of the types of people they are looking for, or call 800-785-2305.

 

Bank Tellers Are on the Front-line to Fight Elder Abuse

Bank tellers are trained to notice certain unusual behavior and transactions. A sharp teller will notice when a familiar customer starts taking out unusual cash withdrawals, or suddenly appears nervous, or under duress, especially when accompanied by a particular person. For example a coercive caregiver might be pressuring the senior to give him/her cash.

Tellers might also notice if a senior’s physical condition or mental awareness has changed significantly. While waiting on a bank customer, if the teller notices suspicious behavior, he or she can take a look at the customer’s recent banking activity and see if all appears as usual. Or, is there unusual activity, like checks bouncing, large or more frequent withdrawals? Tellers who suspect trouble are required to report these suspicions, even though this may override the customer’s privacy.

  • If you have an elderly relative or friend who does his or her own banking, encourage that person to get to know the tellers.
  • Also, make sure the senior has a current signature on file at the bank.
  • Update his or her contact information and emergency contact information.

I had an elderly friend who was being pressured by scam artists who were trying to clean out his bank accounts. I sent him to his bank, where the tellers knew him by name. They alerted his emergency contact (his daughter), and with permission, they locked down his accounts and opened new ones. Crisis averted.

Tellers are in a front-line position to guard against fraud. Take advantage of that great resource with some simple friendliness and current information.

 

Teresa Ambord is a former accountant and Enrolled Agent with the IRS. Now she writes full time from her home, mostly for business, and about family when the inspiration strikes.

Meet Teresa