Comments on: Weekend Links – Martin Luther King Day Edition

By: JC Rockafella

JC Rockafella — Tue, 22 Jan 2008 11:39:11 +0000

Hi Lazy man,

I found your blog the other day and was very impressed. I have recently decided to start a blog as preliminary research for a financial advice website, can you give me some tips for promoting my blog?

Best regards,

JC Rockafella
http://jcrockafella.blogspot.com/

By: Jeremy

Jeremy — Tue, 22 Jan 2008 04:28:53 +0000

Actually, I have no problem with the Social Security debit card. The main reason is that most people already either receive a check or get direct deposit, and this is targeted specifically towards those who don’t have a bank account. Of course, all this card is doing is giving them an account with a card that has access to it, but I think this card will actually only service a relative small number of those collecting.

It could lead to increased spending though, which is an obvious drawback, but it is otherwise no different than someone who has a debit card that is tied to an account that receives their SS deposit either manually or via DD.

Plus if it can save $44 million a year in administration costs, all the better. The only problem I see with it are the fees that Comerica will rake in from this, although if someone REALLY wanted to avoid fees, they could just open a checking account at a local bank and deposit their SS there. So if they are too lazy or can’t otherwise accomplish that, then the fees are probably appropriate.

By: Money Management and You

Money Management and You — Tue, 22 Jan 2008 03:31:23 +0000

I really appreciate the mention, thanks

By: Joseph Sangl

Joseph Sangl — Tue, 22 Jan 2008 02:50:21 +0000

A 401k debit card?!!! That is the WORST IDEA I have heard in at least the last year. What an incredibly ridiculous mess that will allow someone to make!