Giving to Help Children

Jess and Tim McCulloh of Waukee and their two daughters, Peyton, 12, and Ellie, 9.

Couple Seeks to Help Children Through United Way

BY STEVE DINNEN

Tim and Jess McCulloh adore children. And in addition to showering love on their two daughters, the Waukee couple devotes time, treasure and talent to efforts that help other Greater Des Moines youngsters get quality health care and developmental assistance.

The McCullohs have a long-standing commitment to United Way of Central Iowa. Tim is on the executive committee, while Jess is chair of the organization's Women United. Although both men and women support Women United, it's particularly geared to women to lend their skills to, as the organization says, “creating a world of opportunity – for everyone.” It does so in a variety of ways and for a variety of children, from birth to around third grade. Support focuses on children's physical and mental well-being, with services as varied as developmental screenings, refugee child care services and literacy programs. They also work on dental care and even vision care.

“A lot of kids can't even see, so they can’t read,” Tim said. “So they fall behind.” Something as simple as a pair of glasses can head off that looming problem.

Women United, which has 700 members in Greater Des Moines, will assist a child with reading comprehension, even assigning them a “book buddy.” In earlier years, the McCullohs said, kids are reading to learn how to read. Later on, they are reading to learn.

The McCullohs first established ties to United Way before they were married and over the years have continued to deepen their commitment. “We were both asked, separately, by work colleagues about getting involved on a deeper level,” said Tim, who works at Holmes Murphy; Jess is at Wells Fargo. The couple also has qualified for membership in United Way’s Toqueville Society, which recognizes donors who pledge more than $10,000 annually to the organization.

Getting involved with Women United was a natural outgrowth of them becoming parents. “After we had our first child we saw the value of outstanding child care and preschool,” Jess said.

“These kids don’t have a choice, some of them,” Tim added. With a little nudge from Women United, though, the McCullohs said the organization “can help push a kid to the next level.”

Reduced Payouts for Social Security Likely in Future

BY STEVE DINNEN

We all know that Social Security is going broke. Now we all know it’s going to happen sooner rather than later – 2033 instead of 2034, according to a new report from the folks at the Social Security Administration. Well, actually, Social Security itself is not going away. It’s just that by then the Old Age and Survivors Insurance Trust Fund that comprises a huge portion of the payout to 60 million Americans will be tapped out.

What then? Payments will continue, but at a reduced rate – say, 76%. That is the amount that Social Security figures it can handle by paying out benefits to retirees from money it is collecting from active worker paychecks.

The average Social Security check is $1,437 – hopefully pin money to astute readers of dsmWealth. Sadly, though, half of current retirees depend on these checks for half of their income.

Is a fix on the way? Hardly. Years ago some lip service was given by Washington lawmakers to shoring up the program. Then other hot-button issues like immigration reform (also not done) distracted them. So instead, workers are encouraged to bolster their private retirement savings plans – IRAs, 401(k)s. Very useful ideas, to be sure. And it conveniently lets Congress off the hook.

Will Any Housing Be Affordable This Quarter?

BY NATALIE CAMPISI FOR FORBES.COM

The housing market is continuing to run hot with fewer signs of a significant slowing, like it historically does in the fall. Home prices have hit double-digit increases this year. And with the low mortgage rates expected to edge up in the fourth quarter, many home shoppers are wondering whether they can find something affordable in the coming months.

We spoke with housing experts and economists about where the market is headed, after home prices jumped more than 18% annually in August, the highest 12-month gain in the 45-year history of CoreLogic’s index. The Mortgage Bankers Association also recently reported that the average mortgage amount to buy a home was $410,000 in July, the highest amount since May and a 19% jump from a year earlier.

Experts largely agree that while there will still be areas with affordable housing, you might have to look a little farther, and wait a bit longer, to find a dream home within your means. READ MORE.

How and Why to Invest With a Health Savings Account

BY ALANA BENSON FOR NERD WALLET

It’s hard enough to motivate yourself to save for retirement, but saving for your future medical costs? How responsible does a person have to be?

Thankfully, health savings accounts, or HSAs, are tools that make saving for future health-related expenses less painful. These accounts allow you to save money, but they also allow you to invest. With open enrollment coming up, an HSA might be something to consider.

“One cool trick is to invest the money in an HSA just like you invest in your IRA,” Victor Medina, a certified financial planner and founder of Palante Wealth Advisors in Pennington, New Jersey, said in an email interview.

Think of your HSA as a home for your medical money. Just like a brokerage account or an IRA, you’ll need to put money into the account before you buy investments. Then, after you fund the account, you can start investing. READ MORE.