Monday, June 6, 2011

New research states fifty nine percent of parents pay for grownup children

A new research reveals that fifty nine percent of mothers and fathers are still sometimes giving financial support to their adult children who are not students. The study indicates the recession is stopping them from moving away from home. Also examined were so-called “boomerang kids,” or those that move away from home only to come right back again.

A ton of pressure being put down

President and CEO of NEFE, Ted Beck, said, “Parents are continuing their involvement longer than we expected. The general sentiment is that financial pressures are higher for this generation.”

Parents and the young adults surveyed agreed. Of the grownup kids surveyed, 65 percent said their financial strain is harder than their parents’ was. This was something only some of the adults agreed with though. Only 32 percent felt this way. About 43 percent of the adults said they were “legitimately concerned” about their children’s finances. About 37 percent of individuals said they hoped their kids wouldn’t have to struggle financially.

The breakdown

The lion’s share of parental support, at 50 percent, is in housing. Living expenditures were also a big one. About 48 percent went towards these expenditures. There is also the cost of transportation. That is about 41 percent of aid from mothers and fathers.

About 42 percent of those kids who still live at home say they cook and clean to help contribute. About 75 percent said they helped financially.

Other factors involved

”Face It” author, psychologist Vivian Diller, thinks that this trend has occurred because of the economy. “In the last 20 to 30 years, the family structure has become more child-centered,” she says. “Boomer parents were very willing to make sacrifices for their kids, giving them the sense that it would continue until they were on their feet. Now parents are supporting kids’ lifestyles.”

But, she warns, continued fiscal assist could have negative consequences. “Because they have been protected, some children don’t learn reasonable ways to manage money, and they run into trouble.”

How parents sacrifice

Thirty percent of mothers and fathers that were surveyed say they have given up privacy due to adult kids moving back home. And 26 percent have admitted to taking on additional debts. Another 7 percent say they have been forced to delay retirement.

“If parents are going to financially support their adult children, they should first have a serious talk about their kids’ expectations so that everyone protects their financial futures,” Ted Beck says. “We all want to ensure the best for our children. But if you are taking on extra debt or delaying retirement to help your adult child, you could be making a mistake and putting your own financial future in jeopardy.”

Articles cited




Sunday, June 5, 2011

United States continues to wallow in growth recession

Think it’s the time to celebrate economic relief? Don’t get any ideas, suggests Investor’s Business Daily. Slow, inadequate growth is almost the same as backsliding, which typically is a typical indicator that a growth recession continues to be on.

Concerning a growth recession

A growth recession is when the economic growth is low enough that it creates net unemployment. Underachievement in job creation or very low growth is also Growth recession. With job contraction, there remains growth in a country’s real GDP. It is just going too slowly.

What the numbers look like

Here are just a couple of the signs that a growth recession is here, writes Investor’s Business Daily:

  • In May 2011, there were 38,000 private-sector jobs created according to ADP Payroll Services. That is much less than economists anticipated for a growing economy. It needed to be 100,000 jobs more.
  • Challenger, Gray & Christmas showed that there were 37,135 jobs cut in May. From April, that’s a two percent increase.
  • U.S. housing costs fell 4.2 percent in the first quarter.
  • There was a 4 percent decrease in the Mortgage Bankers Association’s mortgage application index. This happened in just one week at the end of May.
  • The Institute for Supply Management’s factory activity index – an indicator of United States manufacturing health – dropped from 60.4 in April to 53.5 in May, the lowest score on the index since September 2009.

Getting back into the recession we left

Most economists believe the May 2.7 percent GDP in the United States isn’t enough to get unemployment back to normal. The only way for the U.S. government to avoid the double-dip economic downturn is to match the growth with the borrowing, which is at $1.5 trillion in 2011.

Michael Pento is the Euro Pacific Capital senior economist who believes that economic health will not return unless the U.S. changes things.

“Genuine government stimulus comes from low taxes, stable prices, reduced regulation and low debt,” said Pento. “Our economic policymakers have scrupulously avoided such remedies.”

We will be repeating what has just happened in summer 2011. This was what the Indypendent thinks will take place. Spending cuts and tax increases are apparent in almost every city and state. The Federal Reserve is backpedaling at the moment. Combine anything and the United States will likely face not just a growth recession, but a full-blown return to depression.

Growth recession at teatime

Information from


The Indypendent

Investor’s Business Daily

Friday, June 3, 2011

Aaron's rent-to-own accused of watching customers

Aaron’s, the Atlanta-based rent-to-own franchise, is being sued by over confidentiality issues by a Wyoming husband and wife. The couple alleges that a computer they rented last year was used to spy on them in their home. The suit has raised issues about confidentiality and the ethics of cyber technology.

Rented computer picture

The supposed violations came to light on December 22 of last year when a manager from a Casper, Wyo., store arrived at the home of Brian Byrd, 26, and his wife Chrystal, 24, to repossess a Dell computer. The manager wrongfully believed that they hadn’t made their rent-to-own payment. The manager showed Brian Byrd a picture of him using the computer in his home from a webcam right before he gave the manager a receipt.

The lawsuit has a comment from the manager. He said he was “not supposed to disclose that Aaron’s had the photograph.”

Somebody had downloaded spyware on the computer

The suit further asserts the rented computer was loaded with spyware designed to track keystrokes, make screenshots and take webcam images.

“It feels like we were pretty much invaded, like somebody else was in our house,” says Byrd. “Crystal gets online before she gets a shower and checks her grades. Who knows? They could print that stuff off there and take it home.”

Increasingly more ‘Kill switch’ scenarios popping up

Petere Swire is an Ohio state professor that explains the “kill switch” is a legal thing to do. The Computer Fraud and Abuse Act will allow it to protect the industry. In an emergency, it would be essential to use a kill switch to turn off the machine. Swire continues. “But this action sounds like it’s stretching the self-defense exception pretty far,” he said.

Spyware designer also named in suit

Designerware LLC is situated in PA and was where the spyware used was manufactured. The lawsuit referred to Designerware in it. Aaron’s was not a consumer according to technical support Chief Tim Kelly.

Aaron’s corporation denies knowledge

There are over 1,140 company-owned Aaron’s stores and several franchised as well as the company is a nationwide corporation. Aaron’s supposedly doesn’t know of any franchises that use Designerware goods while saying the Byrds rented the computer from an independent franchise.

Cyber surveillance raises ethics problems

Right now, with computers in every household, cyber surveillance is more common. Computer tracking and video cameras are common in modern offices. Highways and public places almost always have cameras. Most cellphones are equipped with GPS components that can be used to monitor every step we take. Several question the ethics of these practices.

”We’re already concerned that Americans are tracked, followed and spied on as never before,” ACLU’s Jay Stanley said.

The comments lawmakers make

Just like the do-not-call list, the Don’t Track Me Online Act was just introduced. Rep. Jackie Speier, D-Calif., introduced it. The legislation would make it extremely hard for corporations to trade information on users. This is the user’s choice though.



News Tribune

PC Pitstop

Thursday, June 2, 2011

Everyone needs the regular Call of Duty service that can be signed up for

Activision hopes “Call of Duty” enthusiasts will answer the bell yet again for an upcoming monthly subscription program. “Call of Duty: Elite,” a regular subscription program, is currently preparing for testing the game and is accepting summer individuals. By the end of 2011, Activision might offer “CoD: Elite” to gamers for $7.99 or less per month.

The ‘CoD: Elite’ moneymaker great for Activision

Massively multi-player online role-playing games, or MMORPGs, for instance “World of Warcraft,” have been very popular. It just makes sense for Activision to get in on the money by doing a model for the online multi-player FPS which is a very popular game on the console and PC. Activision’s VP of Digital Business, Jamie Berger, explains that the “Call of Duty” universe will lock in players just like most modern video games.

“In an always-on world, the competition for our players’ time has exploded,” he told Wired. “Online interactivity and community is critical for us to face that world. It’s what sets apart games with growing audiences from really great games struggling to find an audience.”

The belief that ‘Black Ops’ will go ‘Elite’ makes Americans happy

”Call of Duty: Black Ops” will be showcased in “Call of Duty: Elite.” Black Ops was the best-selling game in United States history in February, NPD research confirms. There are over 30 million individuals that spend over 170 hours each year playing “Call of Duty” games.

Activision points out that “Elite” won’t cost supporters $60. “Call of Duty” enthusiasts won’t have to make a trip to the store. Players are able to continue the “call of Duty” saga online in many chapters with “Call of Duty: Elite” which is not really a game at all. Analyst Bill Harris at the blog Dubious Quality explained that the game should get FPS online multi-player supporters interested while being Activision’s “Holy Grail” they need.

How ‘Call of Duty: Elite’ works

GamePro explained that “CoD: Elite” will be awesome. More than player-versus-player battle will occur. The “Elite” game will have several categories. They will break down like this:

Career: Where total analysis of your play style and weapon choices occurs, as well as intensive play map details. If you think you’re an FPS pro but haven’t seen what ‘Elite’ can do, reconsider your professional status.

Connect: ”Call of Duty” followers can socialize here. Go crazy with it in chats and groups.

Compete: Matchmaking on FPS is really great. It is just like eHarmony style. Expect a fight. Firepower will be strong.

Improve: Get tips for “Call of Duty” here.

Articles cited

Call of Duty: Elite

Dubious Quality



‘Call of Duty: Elite’ Legend of Karl trailer (Note: Contains video game violence)

Wednesday, May 25, 2011

Unabomber stuff to be sold by U.S. Marshals

The U.S. Marshals Service has put a few of the personal things of Theodore John “Ted” Kaczynski, also called the Unabomber, up for auction. The online auction is underway and will continue until June 2. The proceeds will go to some of the victims of Kaczynski’s almost 20 yearlong mail bombing spree.

What will auction

The auction will sell about 60 lots of things found when Kaczynski was captured on April 3, 1996 in his cabin. The hooded sweatshirt and dark glasses he is known for could be found in these items. Other items consist of personal documents, for instance driver’s licenses, birth certificate, deeds, hand-written letters, checks and academic transcripts. Anything used by Kaczynski for instance bows and arrows, tools, books or clothing will be sold also along with photos. You can also buy a typewriter he used to write the Unabomber Manifesto, which is what individuals call it. The real name of it is The Industrial Society and Its Future. Almost 20,000 pages of that document, in both hand-written and typed versions, will also be auctioned.

The catalog, photos and information of all the auction items are available at the GSA auction site.

A domestic terrorist

Kaczynski was a mathematical prodigy after bring born in 1942 in Chicago, Ill. When he was sixteen, he got his undergraduate degree at Harvard. He then went to the University of Michigan and got a PhD in mathematics. Since society became more relied on technology, Kaczynski started to become frustrated. To be able to be “self-sufficient,” Kaczynski moved to a one-room cabin in Montana in 1971. He got the name Unabomber, because of University and Airline bomber put together, because of his sixteen homemade mail bombs he sent to many airlines, universities and other targets between 1978 and 1995. His bombs were responsible for killing three individuals and injuring 23 others. For a long time, Kaczynski was searched for by the FBI. He was finally arrested in 1996 after being turned in by his brother and sister-in-law. The “supermax” prison in Florence, Colorado, is where Kaczynski is being held at the age of 69 in a life sentence without the poss! ibility of parole.

How it turned into an ironic thing

In a statement to the press, “We will use the technology that Kaczynski railed against in his various manifestos to sell artifacts of his life,” was what U.S. Marshal Albert Najera said.

Paying for his stuff

The money put into these items will be unclear. Nobody knows the value quite yet. The Marshals have a spokeswoman names Lynzey Donohue. “This is an unusual type of case,” she said. “It’s really difficult to put a value on these items because of the intrinsic value they have based on his notoriety.”

Articles cited

NY Daily News


The Sacramento Bee

GSA Auctions

Monday, May 23, 2011

Term life insurance exchanged by mixed policies

The nature of long-term care and life insurance policies has changed rapidly in these uncertain hard times. Many customers are reluctant to put out large amounts of money for future benefits, especially when those benefits may never become necessary. The insurance industry has changed this trend by selling combination goods that blend long-term-care with standard life insurance.

Choosing the long term care could possibly be good

Generally mixed life insurance policies utilize universal life, in which a portion of the death benefit may be used early to help pay for long-term care should it become necessary. These mixed policies have been available for a while but have recently been gaining popularity. A mixed product, combining two products into one, sounds attractive to many customers. A policy holder may still get life insurance even if the long-term car is not necessary.

The number of traditional policies still accessible

Sales of the hybrid policies more than doubled in 2010, according to Gebworth Financial Inc. By contrast, the sales of traditional long-term-care insurance have plummeted by nearly 25 percent over the last five years.

“Most people who purchase hybrid insurance are not purchasing it because they want life insurance,” said John Ryan, a Colorado-based broker. “They’re purchasing it because they need long-term-care insurance, and the sales pitch that you can get your money back no matter what is pretty compelling,”

Those that have retired

About 69 percent of Americas turning 65 each day will need long-term care at some point, according to Washington-based lobbying group for retirement homes, LeadingAge, with those numbers doubling by 2040.

Getting your use out of your policy

There are very different details on hybrid insurance plans with many different versions available. Usually a person is given a cash-value life insurance policy with the option to use it for long-term care benefits instead. When using the long-term care benefits, death benefits are no longer accessible. That is the tradeoff.

Reasons to stay away from it

There are several things to consider with a two-for-one product. Usually they’re strict with rules on combined products. There is no room to move. Usually a mixed product does not cover home care. It does not change for inflation either. The different long-term care accessible to be covered is typically specialized. It is impossible to predict future care needs, and often that is exactly what the insurance companies expect you to do. While purchasing a mixed product is cheaper than purchasing two different policies, it is also typically more expensive than purchasing a dedicated long-term care policy.

Make sure you know what you are doing

With any investment, including this one, you need to always stay well informed and know what you are getting. Make sure you know the product well. It always helps to have advice from an impartial financial adviser.


Dail Finance

Elder Law Answers


Sunday, May 22, 2011

NBA mock draft 2011 top 10 picks

The 2011 NBA Draft could turn out to be quite a snooze-fest, according to Bill Simmons and Chad Ford of ESPN. The following top 10 projections for an NBA mock drafts for 2011 start – and end in the minds of many – with Duke’s Kyrie Irving.

How about Cleveland Cavaliers: Kyrie Irving, PG (Duke)

Kyrie Irving is really great and will be a top-15 point guard most likely, although he is not amazing. Baron Davis was never good enough for the Cavs. Irving may be just what the team needs.

Minnesota Timberwolves: Enes Kanter, Center (Turkey) as an option

While on the Wolves, Kevin Love showed off a fantastic season. Still, the team could work on getting better. Keeping Love around may be hard. They may need a large man to help. The 6-foot-11, 272-pound Kanter is considered a gamble by some, however many scouts see him as a high-energy rebounder and defender who would make opposing guards think twice about strolling down the lane.

Utah Jazz to pick Derrick Williams, SF (Arizona)

Even though Williams was a power forward as a Wildcat, he will most likely be a small forward in the NBA. Utah may simply give up on the rest of the 2011 NBA Draft crop and ask for a popular male. This would be BYU’s Fredette.

Cleveland Cavaliers: Jonas Valanciunas, C (Lithuania)

The Cavs need a big male so Anderson Varejao is not alone. Valanciunas could be the perfect pick.

Toronto Raptors: Kemba Walker, PG (Connecticut) chances

Toronto seriously needs Kembra Walker. He can be the new point guard to help the Raptors out.

Washington Wizards have the choice of Kawhi Leonard, SF (San Diego State)

Leonard is a fantastic athlete while very good at rebounding and could be an excellent complement to John Wall with the Wizards. Leonard may be perfect to go with John Wall on the Wizards. He is an excellent rebounder and athlete.

Sacramento Kings: Brandon Knight, PG, Kentucky possibility

Speed, defense and a good outside shot from the point in Knight would allow the Kings to use Beno Udrih as the super backup or 2nd ball-handler the offense needs to really get moving.

Detroit Pistons: Jordan Hamilton, SF (Texas) possibility

With Tayshaun Prince leaving as a free agent, small forward becomes top priority. Hamilton can both shoot and rebound the ball.

Charlotte Bobcats wants Jimmer Fredette, Shooting Guard (BYU) just like everyone else

In order to make sure there is at least one consistent scorer, Charlotte will hope to get Fredette. Otherwise, Bismack Biyombo from the Congo should amp up the frontcourt athleticism while aggressively challenging shots.

Milwaukee Bucks: Tristan Thompson, PF (Texas)

Thompson is athletic and can run even though he is 225 pounds and 6-foot-8. If the Bucks are not gun shy following the failed Yi Jianlian pick from 2007, they may go international and snag Biyombo if he’s available.


Bleacher Report

Fox Sports

The Sporting News

2011 NBA Draft Lottery highlight: The final three