




2.  Signing a joint tax return without reading it.  




Let me offer you a third one on her insightful list. 




Hot off the presses!

Here it is! Your very own paperback version of  Hot Flash Financial!

It is a grown up version of the website. No actually it is a development of the Hot Flash Financial approach. Yes it retains the hot flash method– laugh while you learn. And it offers clear explanations of complex issues, plus a set of STEPs to follow, STEPs you can rely on, if you want to increase your financial security.

So why buy a copy?HFF cover

The more you  know, the more control you will feel. Your stress about money will start to melt away, because you will know what you are doing with your money, and how. That is the best way that you can improve your future.

And, by the way, it is cheap. Your $15 investment will pay back a thousand fold!

So, hit the link to  buy your paperback copy  “and get one today!!!!” (as they shamelessly say on TV)

You will be glad you did.


New Years Resolution

Here at Hot Flash, we love New Years Resolutions.

Allow us to suggest one for 2013- Live within your means.

Or, since we are entering a year that ends in unlucky 13, we can rephrase this resolution in terms of luck.

It is  unlucky to live above your means. (So every time your write the numbers 13, you have a reminder, nudge, or prompt to remember your resolution to live within, or even below, your means.)

So what does that really imply?

Your “take home pay” is the focus. It is your limit, your “means.” So you can spend only the amount of money that you bring “home” in your paycheck. Not a dime more. (And you can NOT cheat by charging something on your credit card(s). Unless, of course, you pay off the total balance due when the  bill comes.)

You must be thinking…… that is so………….un-American…..so impossible.

But is it?

Hmmm. It is tough for Baby Boomers to hear this, but……………your parents probably lived within their means. (And they probably saved some money while they were doing it……. Just sayin’)

Why would you do this?

If you start to develop the skill of living within your means, you will have a more sustainable life style.

That is probably not such a bad idea, given the fact that you are likely to live longer than your parents.

So how about it?  Resolve to live “within your means.” Test yourself, and see how you do.

Here’s a short take home quiz. Find it if you can you live within your means, at least as long as you followed your diet last year? Or as long as you committed yourself to exercise every day?

Now, this in Hot Flash Financial talking to you. S0 if you try, and find out that you are not exactly perfect, use laughter as a weapon. Tell us your funny story. Share it with us at hotflashfinancial@gmail.com.

That way you can join us–Hot Flash Mamas–as we imperfectly march toward the next phase in our lives.

Social Security and you

You are probably going to  hear  a lot about Social Security in the run-up to the next election. Each party will be talking about what are sometimes called “Entitlements.”  It is important for you, as a woman “of a certain age and distinction,” to know who really supports specific programs, especially Social Security.

Why? Because Social Security is one of the most important sources of money for women after age 65.

Really? Yes. Because women live so much longer than men. So we rely on Social Security (and Medicare) for a greater number of years and a greater number of dollars.  As we women age, a bigger and bigger portion of our monthly income comes from Social Security!

How much do we rely on Social Security? Well, we have some figures for you. Women are who 65 and older, get more than half (or  58%) of their income from Social Security. And, as we get older, and spend down the money we had saved for retirement, we increasingly rely on Social Security for all or nearly all (90%) of the money we use to buy food, pay for housing, etc. By the time you pass your 80th birthday, many  (38% ) of you will be completely or nearly completely (90%) reliant on Social Security.

So now you have to know the facts about Social Security.  You have to know if Social Security will be there for you, your sisters, and your children. So start here, and then click on this link Social Security.

Remember, you have to think long and hard about a candidate and his stand on Social Security and other “Entitlements” So when you decide to vote for your representative in Congress, in the Senate, and for the President, make sure you vote for someone who will continue to support Social Security and so older women. Cut through the “stuff ” on those political commercials. Make sure you check out the truth about past voting behavior, key proposals (like budget proposals) made by each candidate, and cross-check with an independent fact checker.

Why? If you, or your sister or best friend, is one of the women who will rely on Social Security for 58% of her income from age 65 on through the rest of your life, you need to vote to make sure every candidate who has your backing will support Social Security.


footnote: I am drawing my facts based on 2010 statistics and analyzed by the  National Women’s Law Center “Women and Social Security: Key Facts” May 20, 2011. Here is the link. http://www.nwlc.org/resource/women-and-social-security-key-facts)


January 15— Open those envelopes!

It’s that time again. When envelopes come flying into your mailbox. These envelopes usually have BOLD text that says something like


What do you usually do with those envelopes? Just put them in a neatly marked folder?  Or a shoe box?

Aren’t you just the least bit curious about that important  information?


Why not do something different this year?  OPEN THE ENVELOPES! Then  READ THE FORMS!


They tell you precisely how much money you brought in the door last year. So you know how much you made, and, if you have  a partner, how much income your partner  earned.

Now don’t be intimated by the forms. Hot Flash Financial can tell you how to read them. So you can skip to the important parts.

When you see a :

  • W-2  scan up or down the page to find Box 1. that lists WAGES, TIPS AND OTHER COMPENSATION. What is the dollar amount?
    • That’s your “gross” or total income. The amount that you get paid before all the benefits and taxes are taken out.

When you see a form that says

  • 1099  that  tells you that you, or your partner,  made even more money. It could be money from the interest paid on a savings account (that will be a 1099-INT). There are other types of 1099 forms, that report other types of income.

Now, Hot Flash Financial is going to encourage you to  ADD up the totals and find out how much money you (and your partner, if you have one)  earned. This total dollar amount is good to keep in your head.  You not only know how much money your make. This dollar figure gives you an idea of how much of that you need to live comfortably. Keep that in the back of your mind too.

So watch for these envelopes. Open them up and read them. Most of them come by the end of January,



Hot Flash Financial HOT TIP. Now, if January ends, and you do not get any 1099s, why not file your tax return EARLY? Then you will get your TAX REFUND EARLY. Why wait? It’s your money.

And Hot Flash Financial has so many good suggestions for using that moneyà to improve your financial security, Click on the ASK & ANSWER navigation buttons (above). Try the Menu Option called Getting Started. Follow the suggestions.  Make sure you do something really important for yourself. ACT! Act in your OWN SELF INTEREST. Follow the steps we give you. So you can improve your finances, decrease your money stress, and get more secure, financially that is.