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Amazing Money Secrets

by Ken and Daria Dolan

Double talk. Industry lingo. Insider schemes. The financial world can be tricky to navigate unless you have a clear map to help you. In this Special Report, Ken and Daria Dolan lay out secrets to getting the most out of some of the biggest money situations you'll face, without falling victim to industry insiders set to take more of your money.

Download your copy of Amazing Money Secrets They Don't Want You to Know now!.

Finding Work After 40

I know how it feels to look for a job when you're over 40. After working on Wall Street for 15 years, I changed jobs at age 42 – and it was tough. No matter what your age, Daria and I are going to show you how to make your search smooth and successful.

One of your most effective job-hunting tools is a strong resume. Experience and the ability to problem solve are in demand! Not many 25 year olds can beat you on that front so focus your resume on how your skills and background will benefit the company, not on the description of jobs you held.

It's natural to be sensitive about your age, fearful that it may be a barrier to finding a job. The way to overcome this obstacle is to "age proof" your resume!

  • Don't include your birthdate or the year you graduated. (This is unnecessary.)
  • List only your past 15 or 20 years' experience. Going back any further just highlights you age.
  • Accentuate modern skills such as computer knowledge.
  • Include any hobbies that highlight your stamina or health, such as running.

Straight Talk Tip: If you're just entering (or re-entering) the workforce, be sure to include life experiences – such as positions you held on school boards, church associations, volunteer groups, etc. – on your resume in the form of skills that will benefit the company that hires you. (I can think of a skill or two that raising Meredith taught Daria and me!)

If you didn't go to college, put "self-educated" in the education portion of your resume. Also include any work-related courses you took. CareerBuilder.com is an excellent resource for getting back in the workforce.

How to Ace Your Interview

Interviewers will ask some tough questions targeted to a 40+ job hunter. Before any interview, write down your answers to the following questions:

  • How do you feel about working for someone younger than you? (Tell the interviewer that "Experience and ability are what's important, not age.")
  • Why did you leave your last job? (Be honest, but stay unemotional. One area you want to stay away from is conflict with your old boss.)
  • What do you like most/least about this company?
  • What have you been doing since your last job?

Be especially prepared for that last one if you're re-entering the workforce. If you stayed home to raise your children, say so – and show the interviewer how that experience makes you the best person for the job. If you've been job hunting since you last worked, say you've been "vigorously searching for the right job."

Use the interview to sell yourself and dissolve any concerns the interviewer might have about older employees. For example, talk about new developments in your field (to show you're on the cutting edge), or casually mention that time you stopped by 15 sales offices in 10 days (to show your vigor.)

Our favorite "career" publication is the National Business Employment Weekly, a newspaper full of helpful information for the employed and unemployed, including job listings. The best book we've found is The Over-40 Job Guide, by Kathryn and Ross Petras.

Good luck with your hunt!

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Child Savings Accounts

When opening a savings account for your child, make sure their Social Security number is used as the account's tax identification number. That way, as long as your child is under age 14, interest earned will be taxed at your child's lower tax rate, not at your tax rate. This rule holds true as long as your child earns less than $1,300 a year in interest.

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