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Archive for May, 2008
Lifelock CEO bitten by identity theft
May 23rd
You’ve probably heard the ad below:
“My name is Todd Davis. My social security number is 457-55-5462.
I’m Todd Davis, CEO of LifeLock, and yes, that’s my real social security number*. Identity theft is one of the fastest growing crimes in America, victimizing over 10 million people a year and costing billions of dollars. So why publish my social security number? Because I’m absolutely confident LifeLock is protecting my good name and personal information, just like it will yours. And we guarantee our service up to $1 million dollars.”
Todd is the CEO of Lifelock. His ad was a bold challenge and a great marketing move in support of his services. Unfortunately, this challenge did not fall on deaf ears.
Yesterday, Jordan Robertson from the Associated Press wrote an article explaining how Davis’ ad has come back to bite him. This stunt has resulted in eighty-seven attempts to steal Davis’ identity; one man was even successful. Here come the lawsuits! Read on.
Tips to Protect Your Wealth
May 19th
This post is inspired by Mary Dalrymple’s article, “Wealth Defense: The Biggest Threat to Your Money”. Here’s a quick summary of the tips for you to consider:
- Your Bank – If you’re not getting the most out of your bank, look for better rates (other banks or alternative investments to boost your interest rate). This suggestion also applies to bank fees for checking accounts and minimum deposit amounts.
- Your Credit Cards – Are you paying an annual fee? If so, WHY? There are so many good no annual fee credit cards. Also, check your annual percentage rates. You can call your credit card company to ask for a better rate. In addition, find out if there are any promotional rate offers. Even better, go for a cash back, no annual fee credit card.
- Your Credit Report – Check your credit score and report carefully. Your score can affect the rate you’ll receive on your loans. In addition, you want to check regularly for possible signs of identity theft.
- Your Retirement Accounts – Are you taking advantage of an IRA and/or your company’s 401K plan? If not, look into this especially if your employer provides matching on your contributions. If you’re not getting the maximum match on your contributions, then you’re leaving money on the table.
- Your Brokerage Account(s) – If you’re investing through a stock brokerage, check your fees and commissions especially if you make frequent trades every year. If you invest in mutual funds, check the fees for your fund carefully because you may be leaking money in the back end. Finally, look into dividend re-investment options if your stock pays a dividend.
- Your Will – Do you have a will? Has it been updated? You don’t want your estate to go into probate.
These are just a few ideas. If you have other suggestions, feel free to comment.
Six Gas Saving Myths
May 19th
With gas prices hitting record levels, everyone seems to have tips on how to save gas. Some have even altered their driving habits (i.e. working from home, taking public transit, biking to work). For those of us who still rely on a car to get around, check out Peter Valdes-Dapena’s article on CNNMoney.com as he debunks several misconceptions about saving gas.
Jim Cramer’s Just Plain MAD
May 19th
I read an interesting opinion on Jim “Mad Money” Cramer. For those of you who don’t know him, he is:
- The host of CNBC’s “Mad Money” show
- The co-founder of TheStreet.com
- A bestselling author of “Real Money” and “Stay Mad for Life”
Now back to the blog post. For those of you who are fans of Cramer, this post is from Marc Andreessen.
Marc is one of the most successful entrepreneurs (called a Silicon Valley “whiz kid” ), startup coach, blogger, investor, and a multi-millionaire software engineer best known as co-author of Mosaic, the first widely-used web browser, and co-founder of Netscape Communications Corporation. He was the chair of Opsware, a software company he founded originally as Loudcloud, when it was acquired by Hewlett-Packard. He is also a cofounder of Ning, a company which provides a platform for social-networking websites.
Check out Marc’s comments:
Jim Cramer is still putting random words in random order
Cramer: an apology
Living Large on a Budget
May 13th
Kimberly Palmer’s article on Yahoo! caught my attention. Her article is actually a brief synopsis of Farnoosh Torabi’s book, You’re So Money. I think I’m going to order this book for an upcoming birthday gift. I don’t think it would be tactful if I gift wrapped a borrowed version from the library with a note to return before the due date. Just kidding!
I personally have a different philosophy. I’m of the school where one should think of ways to earn more money live abundantly and enjoy the lifestyle one desires.
By the way, Farnoosh’s claim to fame is her video reports on TheStreet.com website. Does that ring a bell? I’m sure you’ve seen one of her interviews with company founder, Jim “Mad Money” Cramer. Chalk this up as a daily dose of trivia, factoid or whatever you want to call it.
Enjoy!