November 2013 Quick Tips FROM PAGE 3


annuities and a mix of potential benefits and risks, it’s important to learn as much as you can before investing. A good place to start is on the U.S. Securities and Exchange Commission’s Web site at www.sec.gov/investor/pubs/varannty. htm or by calling the SEC toll-free at 1-800-732-0330.


“Remember, even if purchased


through an insured bank, annuities do not qualify for FDIC deposit insurance or any other comparable protections under federal law,” advised Jan Templeman, an FDIC Consumer Affairs Specialist. “So unlike FDIC-insured CDs and other deposits, your right to receive payments on an annuity is likely to depend almost entirely on the stability and strength of the insurance company offering the product.”


11. Know if you’ve agreed to let


your bank cover certain overdrafts. You have a choice whether or not your bank will charge you a fee, perhaps $30 or more, to cover everyday purchases you make with a debit card when you don’t have enough money in your bank account to cover the cost of the purchases. And, you can change your mind on this decision at any time. A recent study by the CFPB found that consumers who have “opted in” (agreed) to be covered by an overdraft program are more likely than consumers who don’t opt in to pay costly fees and face the possibility of having their bank account closed.


“Not being opted in to an overdraft


program would mean that debit card purchases would be declined if you didn’t have enough money in your account, but on the other hand, you would avoid paying a sizable fee for making that purchase,” said Reynolds. He also noted that your ability, under the law, to decide whether to opt in to an overdraft program only involves everyday debit card payments, such as at a store, and does not apply to checks you write or recurring bills charged to your account.


Another way to avoid overdrafts


is to keep tabs on your account balance before using your debit card or writing a check. In addition, you can also ask your bank to link your checking account to savings to cover any overdrafts, perhaps for a small fee.


12. Look into discounts and other


deals. “For consumers over a certain age, some financial institutions may offer breaks on the cost of bank products and services,” said Mary Bass, a Senior Community Affairs Specialist with the FDIC.


\But even if your bank offers a


special deal for seniors, you may be able to do better elsewhere or with another type of account at that bank. “Comparison shopping is key,” Bass added. “Banks and other businesses may negotiate with respect to fees or other account terms, so ask questions and show them what is being offered by competitors. You might be able to get a better deal than what is advertised.”


Getting Organized 13. Make it easier to manage


your money and pay the bills. If you’ve accumulated multiple bank and investment accounts and credit cards over the years, consider whether you can close some you no longer use or need. This can reduce the number of accounts you have to manage.


Also, for payments you are due


to receive, including money from pensions or tax refunds, there are


www.hamptonroadsmessenger.com


benefits to having them automatically deposited into a low-cost or no-cost checking or savings account using direct deposit. If you manage that account well and avoid fees, it’s likely to be less expensive and offer you more features than alternatives. You can also have automatic withdrawals from your bank account to routinely put a certain amount of money into a savings account or a U.S. Savings Bond.


14. Consider additional ways to


save time and money. Your bank and the companies you do business with also will likely provide alternatives for you to pay your bills electronically. These options can include online bill paying or having payments automatically transferred from your account. These can save you time and money by avoiding unnecessary trips to pay bills. And, making scheduled payments automatically can help avoid late charges or service interruptions.


Your bank and other financial


services providers also may offer incentives if you receive your statements electronically instead of in the mail. It’s important, though, that you keep the anti-virus and security software on your computer updated, promptly review each bill for accuracy, and monitor your account balance to avoid the risk of overdrawing your account.


“Be cautious about going


paperless if you aren’t tech savvy or comfortable going online to review your statements when they arrive,” warned Reynolds. “The law is clear: if an error or a fraudulent item appears on your statement and you promptly report it to the bank, your liability is limited. Likewise, the bank may send you important notices that tell you about changes it plans to make to your account, such as with respect to fees. You need to decide for yourself what will be the best way for you to review these key communications in a timely manner.”


15. Organize and protect your


important documents. Items to keep at home, in a secure place that’s easy for you to get to, may include your bank and brokerage statements, insurance policies, Social Security and company pension records, and other personal and financial papers you or your family might need on short notice. If caregivers or others regularly visit you, make sure that your checkbooks, credit cards and other financial records are protected.


A safe deposit box is best for storing


documents or valuables that could be difficult or impossible to replace and that you probably won’t need access to on a night, weekend or holiday. Good candidates include originals of birth certificates, property deeds and car titles. Think twice before using a safe deposit box for an original of a will or power of attorney because it may not be possible for your loved ones to access them quickly if you become incapacitated or pass away. For guidance on where to store these documents, check with an attorney about what is required or recommended based on state law.


Regardless of where you keep


important documents, seal them in airtight and waterproof plastic bags or containers to prevent water damage. In case of a natural disaster or a fire, you may want to prepare one or more emergency evacuation bags with essential financial items and documents, such as some cash and checks, copies of your credit cards and identification cards, and a key to your safe deposit box.


To learn more financial tips for


seniors, just keep reading our special coverage.


FROM PAGE 6


afoul of the United States because of their criticism of the capitalist system. In late October of 1983, Bishop


was arrested and put under house arrest by close friend, colleague and Deputy Prime Minister Bernard Coard. Coard led a hardline faction of the party which seized control of the government and imposed a dusk-to-dawn curfew.


“I was very much in danger,”


Rojas recalled. “There were military patrols looking for me with instructions to shoot me on sight. Coard and [Army Chief General] Hudson Austin literally shut down the country. It was a reign of terror for six days.”


More than 15,000 people defied


the new government to free their leader who had been detained at his home.


“School children, men and women


in the thousands marched through St. Georges,” Rojas said. “He [Bishop] was manacled to his bed. They freed him, took him away, took him over to the fort where they thought he’d be safe. ”


“The people had freed him and


he was planning to make an address to the nation.”


However, while at the fort,


soldiers lined up Bishop, several government ministers and others against a wall and shot them.


“People supported and loved


Bishop, they killed him and people were furious and angry and scared. I was there,” said Rojas. “A half-hour before they were killed, Bishop sent me on a mission to go down to the telephone company to tell the world. I made some calls to the Caribbean News Agency and BBC picked it up. That was how the world knew. While I was in the process of making the call, I heard the gunshots. I was a mile away. If I’d been there, I’d have been assassinated.”


Rojas said one theory is that


Bishop wasn’t radical enough for Coard and his cohorts. But his explanation is simple.


“Ambition. Coard always wanted


to be prime minister,” he said. “It was jealousy and all those base human emotions and when you have those kinds of negative emotions, you can become very irrational. They figured they’d kill him and hold on to control of the government. They took the most extreme measures.”


Hassan said she and her children


were among the throng who marched to free Bishop.


“For them, they got the best


history lesson in the world. They witnessed history, saw it up close,” she said of her children. “I took my kids with me, saw two people who I know and asked them to keep an eye on them. We got separated and got swept up in this. Taking them was not a wise thing because something dangerous could have happened. They could have gotten trampled. Word of mouth got people to go to free Bishop. Children


The Hampton Roads Messenger 11 Socialist Experiment


were in school uniforms.” Events that day unfolded pretty


quickly, said Hassan, and Rojas characterized what happened as pandemonium after the soldiers assassinated Bishop.


President Ronald Reagan had


become increasingly concerned about what was happening in Grenada and Bishop’s murder provided him with the pretext to destroy the revolution. Mark Zepezauer in the article, Grenada, from the book, The CIA’s Greatest Hits, said the Reagan administration began planning the invasion two years before it occurred. The Caribbean and Latin America were considered America’s backyard and Reagan wasn’t about to allow socialism or communism to flourish at America’s doorstep.


“Bishop's mildly socialist program


(private enterprise left unmolested, but free health care, school lunches, etc.) was the final straw,” Zepezauer said. “Before long, a CIA propaganda campaign was portraying Grenada as a terrorist state allied to the Soviet Union, its 100,000 inhabitants armed to the teeth and poised to attack the pitifully vulnerable U.S.”


“ … CIA acts of sabotage


proliferated. Money was given to opposition politicians and neighboring armies. Finally, in late 1983, Bishop was overthrown by extremists in his own party and executed, and the U.S. invasion began. CIA agents among the "hostages" helped coordinate the three-day war over shortwave radio.”


At the time, several historians


and political analysts said, Reagan sought the opportunity to re-energize a country demoralized by an attack against a Marine barracks in Lebanon which killed 241 servicemen; Vietnam; the humiliation of the Iran hostage crisis; and challenges by “Marxist-led insurgents [who] had seized power in Nicaragua and were ascendant in El Salvador and Guatemala.”


“We always had a suspicion that


the U.S. would find a way to overthrow the government,” Rojas said. “From the time Reagan came to power, he orchestrated a campaign to isolate, and destroy the Bishop government economically, socially, and politically – we were under a lot of pressure.”


“The U.S. military had carried


out exercises called Operation Fury off the coast of Vieques. They were just waiting. Coard and Austin provided the U.S. with a pretext to engage. American medical students being in danger is BS. While all Grenadians were locked up [indoors], students were walking on the beach. The U.S. put an end to the revolution once and for all.”


Yet both Rojas and Hassan say


Bishop’s considerable contributions can’t be denied.


“Thirty years later, the legacy


is still alive,” Rojas said. “[People] remember him with warmth and love. It was a time of great excitement and hope. For the first time, people thought they were getting involved in building their country.”


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