General Macs Articles

Article / Updated 05-03-2023

You may want to consider establishing automatic investment programs to save for your retirement. Several automatic savings programs may be available to you. You need to determine how much you can direct to each of these automatic plans. Here’s how you do it: Make sure that you’re taking full advantage of any employer matching contribution for which you may be eligible with your company’s retirement plan. Contribute the maximum amount that the employer will match. If eligible, make the maximum contributions to your and your spouse’s (if applicable) Roth IRA accounts each year; take your contributions automatically out of your checking account each month. A Roth IRA is the best retirement funding vehicle — from a tax standpoint — ever! Although you don’t get a deduction when you contribute to a Roth IRA, all the earnings and withdrawals on the account are tax-free forever. You can establish a Roth IRA account at most banks, through investment advisors, or directly with a low-cost, no-load mutual fund company like Vanguard or a deep discount broker like Scottrade or ShareBuilder. Making monthly contributions is much easier than coming up with the whole year’s contribution at once. You can set up direct automatic investments from your checking account into your Roth IRA account. Build your personal portfolio with low-cost, tax-advantaged-passive investment vehicles, such as exchange-traded funds (ETFs) and index funds. You need to have investments that you can tap into if needed prior to retirement. Also, when you retire and pull money out of your retirement account, 100 percent of that withdrawal is taxable to you as ordinary income. Capital gains tax rates are much lower. You may be much better off from a tax standpoint to pay minimal capital gains now rather than the tax for ordinary income in the future. Index funds are a way individual investors can own the stock market that you hear about on the news, such as the Standard and Poor 500 Composite Index (S&P 500, for short). Index funds have been available through no-load mutual fund powerhouses like Vanguard for decades. However, the range of options now available has exploded in the last few years. You can now buy an exchange-traded fund (ETF) that invests exclusively in United States Treasury Inflation Protection Securities. Rather than buying one bond for $10,000, you can literally buy one share of an ETF, which trades like stocks, incurring a transaction fee to buy or sell shares. And with the advent of deep-discount online brokerage firms, you now can afford to make monthly purchases of exchange-traded funds. Which automatic savings programs are available to you, and how much can you direct to each of these automatic plans? Use the Making Your Investments Automatic Worksheet to put these steps in action. Click here to download and print the Making Your Investments Automatic worksheet.

Article / Updated 04-25-2023

Investing appears to be complicated and complex. But if you can take some relatively simple concepts to heart and adhere to them, you can greatly increase your success. Here are ten time-tested principles of investing success. Following these principles will pay you big dividends (and capital gains) for many years to come. Regularly save and invest 5 percent to 10 percent of your income Unless you enjoy a large inheritance, you should consistently save 5 percent to 10 percent of the money you’re earning. When should you start doing this? As soon as you begin earning money on a regular basis. Preferably, invest through a retirement savings account to reduce your taxes and ensure your future financial independence. You can reduce both your current federal and state income tax bills (on the contributions) as well as these ongoing bills (on the investment earnings). The exact portion of your income you should be saving is driven by your goals and by your current financial assets and liabilities. Take the time to crunch some numbers to determine how much you should be saving monthly. Understand and use your employee benefits The larger the employer, the more likely it is to offer avenues for you to invest conveniently through payroll deduction, and with possible tax benefits and discounts. Some companies enable you to buy company stock at a reduced price. Often, the most valuable benefit you have is a retirement savings plan, such as a 401(k) plan that enables you to make contributions and save on your current income taxation. Also, after the money is in the account, it can compound and grow over the years and decades without taxation. If you’re self-employed, be sure to establish and use a retirement plan. Also take time to learn about the best investment options available to you — and use them. Thoroughly research before you invest The allure of large expected returns too often is the enticement that gets novices hooked on a particular investment. That’s a whole lot more appealing than researching an investment. But research you must if you want to make an informed decision. Be sure you understand what you’re investing in. Don’t purchase any financial product that you don’t understand. Ask questions and compare what you’re being offered with the best sources I recommend. Beware of purchasing an investment on the basis of an advertisement or a salesperson’s solicitation. Shun investments with high commissions and expenses The cost of the investments you buy is an important variable you can control. All fees must be disclosed in a prospectus, which you should always review before making any investment. Companies that sell their investment products through aggressive sales techniques generally have the worst financial products and the highest fees and commissions. Invest the majority of your long-term money in ownership investments When you’re young, you have plenty of time to let your investments compound and grow. Likewise, you have time to recover from setbacks. So with your long-term money, focus on investments that have appreciation potential, such as stocks, real estate, and your own business. When you invest in bonds or bank accounts, you’re simply lending your money to others and will earn a return that probably won’t keep you ahead of inflation and taxes. Avoid making emotionally based financial decisions Successful investors keep their composure when the going gets tough. You need the ability and wisdom to look beyond the current environment, understanding that it will change in the months and years ahead. You don’t want to panic and sell your stock holdings after a major market correction, for example. In fact, you should consider such an event to be a buying opportunity for stocks. Be especially careful about making important financial decisions after a major life change, such as marriage, the birth of a child, a divorce, job loss, or a death in your family. Make investing decisions based on your plans and needs Your investment decisions should come out of your planning and your overall needs, goals, and desires. This requires looking at your overall financial situation first and then coming up with a comprehensive plan. Don’t be swayed and influenced by the predictive advice offered by various investment pundits or the latest news headlines and concerns. Trust that you know yourself and your financial situation better than anyone else does. Tap information sources with high-quality standards You need to pare down the sources you use to keep up with investing news and the financial markets. Give priority to those that aren’t afraid to take a stand and recommend what’s in your best interests. The public clearly has an appetite for opinion shows; on the political left, you have programs on CNN and MSNBC. On the political right, FOX has some popular conservative opinion shows. Political partisans distort the news rather than report the news, and they prevent you from better understanding what’s really going on so you can make informed decisions. Political partisans overstate the impact that the president and others can have over our economy and financial markets. Stay away from outlets that cater to advertisers or are driven by an ideological agenda. Trust yourself first Look in the mirror. You’ll see the best financial person you can hire and trust. What may be missing is enough education and confidence to make more and better decisions on your own, which this book can assist you with doing. If you need help making a major decision, hire conflict-free advisors who charge a fee for their time. Work in partnership with advisors. Never turn over or abdicate control. Invest in yourself and others Don’t get so wrapped up in making, saving, and investing money that you lose sight of what matters most to you. Invest in your education, your health, and your relationships with family members and friends. Having a lot of money isn’t worth much if you don’t have your health and people with whom to share your life. Give your time and money to causes that better our society and our world.

Cheat Sheet / Updated 01-06-2023

Macs come in all shapes and sizes, but you turn all of them on and off, and do things with the keyboard and mouse or trackpad the same way. This Cheat Sheet of timesaving keyboard shortcuts, mouse and trackpad actions, Mac-related websites, and definitions can help you get the most from your Mac right away.

Cheat Sheet / Updated 02-25-2022

As an older adult entering the world of Mac computers, you can use a few basic things: a guide to prices and uses for various types of Macs and helpful keyboard shortcuts that get you quickly where you want to go. And you can never be too safe, so it pays to know how to avoid potential predators on the internet.

Article / Updated 11-02-2021

Before you can use your Mac, you obviously have to start it up. And, of course, it's important to know the correct way to shut it down. Starting up your Mac Here’s the simple way to start up your Mac desktop computer — the way you’ll probably do it 99 percent of the time: Press the power button. Newer Macbook laptops start up automatically when you open their lids. Depending on the type of Mac you have, the power button might be in back (Mac Mini and some iMacs), front (Mac Pro and some iMacs), or above the keyboard (on laptop models like the MacBook and MacBook Pro). As soon as you press the power button, your Mac plays a musical chime to let you know that it’s starting up. Your computer displays a big gray Apple logo on the screen to let you know that the computer is working. When you unpack your Mac and turn it on for the very first time, it will ask that you type your name and make up a password to create an account for using your Mac. To guide you through the process of setting up a Mac for the first time, a special program called the Setup Assistant runs, and it asks for information, such as the current time zone, the current date, and whether you want to transfer files and programs from another Mac to your newer one. You also have to go through this procedure if you reinstall your operating system. Normally, you need to run through this initial procedure only once. The most important part of this initial procedure is remembering the password you chose because you’ll need this password to log into your account or install new software. After the operating system loads, you can start using your computer to run other programs so you can write a letter, browse the internet, balance your checkbook, or play a game. How to shut down your Mac You can shut down your Mac if you won’t be using it for a while, or even perform a forced shutdown, which forces all running programs to shut down immediately. You have three ways to shut down your Mac: Choose the Apple key→Shut Down. A dialog box appears, asking whether you’re sure you want to shut down. Click Cancel or Shut Down. (If you don’t click either option, your Mac will shut down automatically after a few minutes.) Press Control+Eject (or press the power button). When a dialog box appears, click the Shut Down button. Press and hold the power button to force your Mac to shut down. You can also force shutdown your Mac by pressing the Control+Option+Command+Eject keystroke combination. Generally, a force shutdown is handy if your entire Mac suddenly freezes or hangs, making it unresponsive. If only a single program is freezing or acting flaky, you’re usually better off to force quit that single program instead of shutting down your entire computer. Avoid using a force shutdown if at all possible. If you do nothing when you see the dialog box that asks, “Are you sure you want to shut down your computer now?” the machine will turn itself off in two minutes. If you want to shut down immediately, click the Shut Down button. If you’ve changed your mind, click Cancel.

Article / Updated 10-29-2021

You know that frustrating, annoying, sometimes panicked feeling you get when your Mac isn’t doing what you expect? If an application freezes or your computer is generally misbehaving, try these tips to escape with minimal disruption. Use Force Quit when an application is unresponsive. Choose Force Quit from the Apple menu or press Command+Option+Esc keys. Click the name of the deviant application (it probably has not responding next to its name). You typically won’t have to reboot. Restart. If Force Quit doesn’t bail you out, try rebooting the computer. If a frozen Mac prevents you from clicking the Restart command on the Apple menu, hold down the power button for several seconds or press the Control+Command keys and then press the power button. If all else fails, pull the plug, but remember that powering down without logging out should be used only as a last resort. Restart in Safe Mode. Press the power button to turn on your computer, and then press and hold the Shift key the instant you hear the welcome chime. Release Shift when the Apple logo appears. You will see a status bar as the computer boots, after which the words Safe Boot appear in red in the upper right corner of OS X’s login screen. In Safe mode, the Mac unleashes a series of troubleshooting steps designed to return the computer to good health. If Safe Boot resolved the issue, restart the Mac normally the next time.

Article / Updated 10-01-2021

Files you download from the internet are often compressed or zipped so that they take up less space and arrive much faster than files that haven’t been compressed. You can easily identify compressed files by their extensions, such as .zip (a common standard used in OS X and Windows) and .sit. Before you can use these files, you must learn how to unzip files on Mac computers for proper access ― luckily the process isn’t that complicated. How to unzip files on Mac computers Unzipping a file on a Mac computer is user-friendly and intuitive. To unzip files on a Mac, simply follow the steps below: Double click the zipped file. The file will automatically be decompressed by Archive Utility into the same folder the compressed file is in. Access the extracted files by clicking the appropriate icons. Alternatively, if the method above does not work, you can right-click on the .zip package, and select Open With > Archive Utility (default). Apple and third party software Apple used to include a program called StuffIt Expander to decompress zipped files, but doesn’t now that OS X lets you unzip files (but not .sit files). However, StuffIt from SmithMicro Software still comes in handy for opening other types of compressed files, notably the .sit or .sitx compressed types. Go to Stuffit.com to download a free version of the software or to splurge for the Deluxe version. In addition to compressing files, StuffIt Deluxe lets you encrypt and back up files. Meanwhile, you can archive or create your own .zip files through OS X, which is useful if you’re emailing a number of meaty files to a friend. Right-click (or Ctrl-click) files you want to compress inside Finder and choose Compress Filename. The newly compressed files carry the .zip extension. The archive is created in the same location as the original file and is named originalfilename.zip. You can also choose File→Compress. If you compress a lot of files at once, the archive takes the name Archive.zip. By default, compressed files are opened with the Archive Utility. It appears in the Dock (in Leopard) while the files are being unsqueezed, unless you choose to open them with Stuffit Expander or some other program. How to zip files on a Mac On the flip side, you can also archive or create your own .zip files through OS X, which is useful if you’re e-mailing a number of meaty files to a client or friend. Follow the step-by-step instructions below to easily zip files on a Mac: Right-click or Ctrl-click the multiple files you want to compress (whether on the desktop or inside the Finder). Select Compress Filename from the pop-up menu. The files are now compressed in a .zip extension and the archive is created in the same location as the original file name, except with the .zip appended to its name. On some Apple computers, you can also compress a file by simply choosing File→Compress. If you compress a lot of files at once, the archive takes the name Archive.zip.

Cheat Sheet / Updated 09-10-2021

Macs and Windows computers have unique operating systems. They see things differently, and most Mac users would argue that Macs do things better. Macs come equipped with helpful keyboard shortcuts and a short list of procedures to follow if your Mac freezes.

Article / Updated 08-12-2021

Nowadays, there are multiple avenues to choose from when it comes to picking a bank. Are you more of a local, national, or digital type of customer? Find the benefits to each option below. Online banks Although traditional banks with walk-in branch locations are shrinking in number because of closures, consolidations, and some failures, online banking is growing — and for good reason. One of the biggest expenses of operating a traditional retail bank is the cost of the real estate and the related costs of the branch. Online banks generally don't have any or many retail branches and conduct their business mostly over the Internet and through the mail. By lowering their costs of doing business, the best online banks may offer better account terms, such as paying you higher interest rates on your account balances. Online banks can also offer better terms on loans. (The only downside? No lobby means no basket of free lollipops.) Online banking is convenient, too — you can conduct most transactions more quickly on the Internet, and by banking online, you save the bank money, which enables the bank to offer you better account terms. And because online banking is generally available 24/7, you don't need to rush out at lunchtime to make it to your bank during its limited open hours. (Note: Traditional brick-and-mortar banks now generally offer many online services.) According to a recent customer ratings' summary done by Consumer Reports, the highest-rated online banks are (in order, starting with the highest rated): USAA, Schwab Bank, Everbank, Discover Bank, Ally Bank, State Farm Bank, Capital One 360, and E-Trade Bank. Brick-and-mortar banks The most obvious choice for banking is using a local bank you pass by on a regular basis. Although these types of banks are conveniently located, these banks may not be the most cost efficient. You can find two main types of brick-and-mortar banks: Small-town bank: These banks only have a handful of branches. Some of the tellers may even remember your name and face. Hours are generally limited, and you may face extra ATM fees for using ATMs that aren't at one of the bank's branches. A sometimes attractive, "small-town" banking option is credit unions. To join, you generally need to work for a particular employer (such as General Electric) or industry/occupation (for example, teachers). Thanks to a federal government exemption on income taxes, credit unions tend to be able to pay higher interest rates on deposits and charge lower rates on loans. Don't assume, however, that a local credit union always has the best deals; be sure to comparison shop. To locate credit unions near you, visit the Credit Union National Association (CUNA) website for consumers and click on the "Find a Credit Union" link or call them at 800-356-9655. Big banks: Such banks tend to be regional, national, and sometimes even multinational. You may recognize their name from extensive advertising campaigns. They tend to have extensive ATM networks, which may reduce your ATM fees, but you pay for it in other ways, such as through less-competitive terms (interest rate paid, service fees levied) on checking and savings accounts. Be sure to comparison shop among several banks and scrutinize their fees and interest rates on their checking accounts and any other type of account you may be interested in.

Cheat Sheet / Updated 05-23-2021

Investing as a young adult holds the promise of paying off big for decades to come if you know what you’re doing. This Cheat Sheet highlights important beliefs that can help guide you in your investment journey. When you understand your investing goals and beliefs, you can build your knowledge, do research, and make good choices that make the most of your money and investments. Copyright © 2021 Eric Tyson All rights reserved.