iOS 11 has an ’emergency SOS’ feature that you should enable

Published: Thursday, September 28, 2017 @ 11:49 AM

A new “Emergency SOS” feature on Apple’s iOS 11 could just save your life.

The feature lets users discreetly call the police by hitting the lock/power button five times in quick succession. The update also allows you to notify emergency contacts when you call the police or emergency services. It could be invaluable to a pedestrian in danger while walking at night.

In order to enable the feature, users need to have updated their phone to the new iOS. Once your phone is running on iOS 11, go to settings and scroll down until you see “Emergency SOS” and hit the “autocall” button.

Read More: 4 apps that could save your life in an emergency

One agency that seeks to combat violence against women boasted to Mashable that the feature could be a “great piece of support for women at risk.”

IOS 11 was released on June 5 at the Worldwide Developers’ Conference. The updated system was launched on September 19, and has received mixed reviews. As is often the case, those who updated their phones immediately noticed a few glitches, with some users even claiming that their battery life is being drained and the “slide feature” is misbehaving.

Numbers don’t lie: 5 things to know about your FICO score

Published: Tuesday, October 03, 2017 @ 10:37 AM
Updated: Tuesday, October 03, 2017 @ 10:37 AM

To get into the all-important "good credit" score range, experts recommend these five strategies Check and re-check your credit report Avoid quick-fix promises Delinquent payments can seriously damage your FICO scores Pay off more of what you owe Apply for credit cards one at a time

With the 2017 hacking of credit bureau Equifax, credit scores have been in the spotlight recently. But credit scores are important every day for adults who earn or borrow money, especially the FICO score, which is used by 90 of the top 100 largest U.S. financial institutions. 

RELATED: Equifax data breach: What to know

Just what is a FICO score? The short answer: the global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries, created by Fair Isaac Corporation. The average adult has FICO scores from each of the three main credit bureaus: Equifax, TransUnion and Experian. FICO scores are based on amounts owed (30 percent), new credit (10 percent), length of credit history (15 percent), payment history (35 percent) and credit mix (10 percent).

A low FICO score might contribute to a lender's decision to deny you credit and could increase the cost of an auto loan by almost $5,000, according to Consumer Reports. A high FICO can save you thousands annually on everything from reduced credit card interest to the size of the deposit you must pay for electric utility service.

RELATED: Uber isn't everything: 7 other lucrative part-time side gigs 

To get into the all-important "good credit" score range, Consumer Reports and myFICO.com recommend these five strategies:

Atlanta-based consumer credit reporting agency Equifax reversed a decision to include forced arbitration language in its terms of service for its free credit monitoring products after a public outcry earlier this month. The company said a breach of its computer systems had exposed the Social Security numbers and birthdates of up to 143 million U.S. consumers. (Dreamstime/TNS)(The Atlanta Journal-Constitution)

Check and re-check your credit report

Request one free credit report from a different reporting agency every four months through AnnualCreditReport.com and check for errors, according to Consumer Reports. If you find an error, dispute it with the credit bureau. Pay particular attention to make sure no one has incorrectly listed a late payment on any of your accounts or miscalculated amounts owed on any open accounts. "Hard pull" credit inquiries, which are made by potential lenders with your permission, can lower your FICO score slightly, but this is different. When you check on your own credit, there's no penalty. 

Avoid quick-fix promises

According to myFICO.com, so-called "quick fix" efforts to repair your credit history are the most likely to backfire, so consumers should be leery of any advertisements or credit counselors claiming they can improve your credit score fast. Depending on the reason for a low score, you may need 12 to 24 months before any efforts (except for error corrections) start showing on your score. You can accelerate the improvement by enrolling in a debt-management program and making payments on time, but there's no instant fix.

(Contributed by nestiny.com/For the AJC)

Persistently pay your bills on time

Even if you are only missing payments by a few days, delinquent payments can seriously damage your FICO scores, particularly since you can't fix previous missed or late payments. If you have missed payments, get current and stay current so you can demonstrate that the problem is in the past. Accoding to myFICO, older credit problems count for less and will fade as your new on-time payment pattern starts showing up on your credit report. Some older versions of FICO keep collection accounts on your credit report for up to seven years even if they're paid off, but the most current versions of FICO ignore any collections when the balance is zero, according to Consumer Reports.

Pay off more of what you owe

The "amounts owed" category makes up 30 percent to your FICO score calculation. Unlike payment history, you can address it immediately, but you'll need financial discipline: "The most effective way to improve your credit scores in this area is by paying down your revolving–credit card–debt." Don't close unused credit cards as a short-term plan to up your scores, since it may just increase the percentage of available credit you are using - a no-no for high credit scores. The same goes for opening a new credit cards you don't need: while it will increase your available credit, it could negatively impact the average age of your credit accounts and damage your FICO scores.

Apply for credit cards one at a time

When you apply for multiple credit cards at the same time, you generate several "hard pull" requests for your credit history, which can hurt your FICO score, according to Consumer Reports. This advice only holds true for credit cards, not house, car or student loans. 

MyFICO also reminds consumers that while FICO scores are important, they're not the be-all and end-all. Lenders look at information such as the amount of debt you can reasonably handle given your income, your employment history and your credit history. Based on their perception of this information, as well as their specific underwriting policies, lenders may extend credit to you even if your score is low - or decline your request for credit even though your score is high.

To get started improving your FICO score, access myFICO's estimator tool, which helps you approximate your score range without any identifying information. It also offers a direct link that allows you to file an online credit report dispute and gives more detailed answers to the question "What is FICO?"

Disney theme park attendance drops as prices rise

Published: Sunday, June 04, 2017 @ 12:12 PM

Sunday marks an increase in prices for single-day tickets to Walt Disney World theme parks during certain times of year—as well as an addition of expiration dates on all tickets.

Could the House of Mouse be faltering?

In a rare reversal of attendance growth, a new report says fewer people came to 13 of 14 Disney theme parks worldwide in 2016 than in the year prior.

That’s according to independent numbers from the Themed Entertainment Association (TEA) and engineering firm Aecom. Disney does not share official attendance data for the majority of its properties.

Here’s a wild guess — maybe Disney’s endless march of increased ticket prices had something to do with the traffic decline!

Read more: How to visit Disney World for free (or close to it)

You can still save money on Disney if you know how!

Back in February, Disney jacked up its peak pricing strategy in a continuing effort to shift the price of a day pass based on demand.

It’s called “seasonal pricing,” and there are three periods: Value, regular and peak.

  • Value period pricing for the Magic Kingdom became $107 for adults and $101 for children — an increase of $2.
  • Regular period pricing became $115 for adults and $109 for children — a $5 increase.
  • Peak pricing, meanwhile, remained steady at $124 for adults and $118 for children.

Meanwhile, the price of an annual pass also increased in February. The Silver Pass is now priced at $419, the Gold Pass at $559 and the Platinum Pass at $679.

The peak pricing strategy seems to be working from a profit standpoint. Disney’s theme park unit enjoyed operating income of $3.3 billion in fiscal 2016. That’s a 9% increase from the year prior.

So don’t shed a tear for the House of Mouse just because guest traffic slowed down last year!

Disney Theme Parks is still the #1 theme park group in the world. According to the TEA report, Disney had twice the annual attendance of its next nearest competitor, the British-based theme parks operator Merlin Entertainments. And it had more than three times the attendance of the #3 competitor, Universal Parks and Resorts.

When you’re planning a Disney trip, you need every possible advantage on your side to save money. So don’t overlook these areas of savings…

Figure out the cheapest places to stay

If you want to stay on the property, try renting a timeshare. MouseOwners.com has resources for both owners and potential renters. MouseSavers.com also features a lot of info on how to save on the experience.

If you’re going to Disney World, you might consider off-site hotels around Orlando like the Four Season Orlando and Hard Rock Hotel. They’re luring more visitors than ever with competitive rates, water parks and complimentary transportation to area theme parks. Off-site may also turn out to be more affordable, especially if the family has a car.

One caveat to staying off-site: You’ll only be able to book FastPasses 30 days out from the start of your trip.

Know about the military discounts

If you’re military, you have earned the right to save on your Disney trip! ShadesofGreen.org is a special program offered for military personnel and families in partnership with Disney. Discounted lodging generally starts at $95 a night. Other discounts on park admission, dining and transportation are available too.

Use the free FastPass+ option

FastPass+ enables guests to reserve a spot in line at favorite rides prior to their trip. Once guests receive their theme park tickets, they can log into My Disney Experience on the Disney website or app and make an itinerary of preferred rides and attractions. This feature allows families guaranteed access and short wait times to some of the hottest attractions. Visitors who master FastPass+ can minimize the wait times and maximize the time they spend playing in the parks.

If you’re staying on a Disney property, you can begin lining up your FastPasses as soon as 60 days out from the start of your trip.

Have the right gear

Take ponchos from the dollar store with you for afternoon and evening thundershowers instead of buying overpriced ones at the park. Sure, they won’t have cute characters on them, but they’ll help you keep more of those other kinds of characters — like Washington, Lincoln, Hamilton, Jackson and Franklin — in your wallet!

Have the right reading material

Money expert Clark Howard has long recommended that you get “The Unofficial Guide to Walt Disney World,” not any of the official publications that come from Disney. This manual is updated yearly and tells you all kinds of money and time-saving tips that the parks don’t want you to know.

Go when it’s quiet

Even though the new dynamic demand pricing initiative won’t let you steal a deal, you’ll still want to plan your trip during a quieter time of the year if possible. You can get a sense of expected crowd sizes on sites like TouringPlans.com and WDWPrepSchool.com.

In general, fall is one of the best times for Florida vacations each year. Disney World offers discounts to Florida residents that fill the parks with daytrippers at that time of year. That creates some traffic, but not as much as you would have encountered over the summer. The real time to book, though, is during the first two weeks of December. Almost nobody goes on vacation at that time.

Use an app to plan your time in the park

A lot of families planning trips to the House of Mouse find it easy to coordinate all their planning in one app. TouringPlans is one great option, as is Trello. Give them a try!

Easiest way to schedule your kids’ free time this summer

Other stories you might like from Clark Howard:

Related

34 retailers likely to close or go broke before the end of 2017

Published: Sunday, May 28, 2017 @ 1:03 PM

Via @tvnewzguy / Twitter
Via @tvnewzguy / Twitter

The bloodbath at retail that’s seen more than 3,600 stores closures announced since January isn’t over yet.

We could reach the 10,000 store-closure mark by the end of the year, according to credit consulting service F&D Reports.

Read more: 2017 retail closings — What you need to know

Which retailers are next to fall?

F&D’s research has identified 34 retailers suffering from poor sales and too much overhead that it says will likely announces more store closures en masse or bankruptcy filings before the year is out.

  • Shopko
  • National Stores
  • Forever 21
  • Charming Charlie
  • Fresh Market
  • Bloomin’ Brands
  • Ascena
  • Tailored Brands
  • Rent-A-Center
  • Bravo Brio
  • Trans World
  • Fred’s
  • Rite-Aid
  • Conn’s
  • Tuesday Morning
  • Guitar Center
  • GNC
  • Neiman Marcus
  • Toys R Us
  • Sears Hometown
  • J. Crew
  • Noodles and Co.
  • Lumber Liquidators
  • Charlotte Russe
  • Bon-Ton Stores
  • Tops Markets
  • Claire’s
  • Ruby Tuesday
  • Sears Holdings
  • 99 Cents Only
  • Ignite
  • Perfumania
  • Le Chateau
  • Gymboree

It’s not just Amazon killing the brick-and-mortar stores!

We should note that some of the stores listed here — SearsBloomin’ Brands and Ruby Tuesday, in particular — have announced anywhere from dozens to more than 150 store closures this year already.

Meanwhile, it’s been widely reported that others like Gymboree and J. Crew are facing imminent bankruptcy.

Yet in the midst of all the media coverage, one important point is sometimes overlooked: It’s not just Amazon killing off the brick-and-mortars. It’s also that we’re way “over-stored” in the United States, as money expert Clark Howard would say.

“We have far too many retail locations, shopping centers and branches of different chains,” the consumer champ notes. “But stores that are meeting your needs with low prices will continue to thrive.”

The sad truth for ailing retailers is that we have 24 square feet of retail space for every person in the United States, according to F&D.

By comparison, Canada — the next country on the list with the most retail space — has 16 sq. ft. of retail space per capita.

Australia — the third most heavily retailed country in the world — has only 11 sq. ft. That’s less than half the square footage of retail space per capita that we have!

Read more: Lidl — Aldi’s archrival — announces first store openings

Liquidation sales underway at 138 J.C. Penney locations

Other stories you might like from Clark Howard:

3 Reasons most stock pickers don’t beat the market

Published: Sunday, May 28, 2017 @ 5:48 PM

NEW YORK, NY - NOVEMBER 09: Traders work on the floor of the New York Stock Exchange (NYSE) the morning after Donald Trump won a major upset in the presidential election on November 9, 2016 in New York City. Global markets originally dropped after Trump began to pull ahead of his rival Hillary Clinton. In morning trading The Dow was down slightly. (Photo by Spencer Platt/Getty Images)
Staff Writer
NEW YORK, NY - NOVEMBER 09: Traders work on the floor of the New York Stock Exchange (NYSE) the morning after Donald Trump won a major upset in the presidential election on November 9, 2016 in New York City. Global markets originally dropped after Trump began to pull ahead of his rival Hillary Clinton. In morning trading The Dow was down slightly. (Photo by Spencer Platt/Getty Images)(Staff Writer)

It’s always been tough to be a successful stock picker on Wall Street.

It’s not that mutual fund managers can’t beat the market, but it’s very difficult to do so year in and year out: Large-cap stocks have delivered long-term, annual realized returns of about 7% after inflation during the past 100-plus years. For the 15-year stretch through December 2016, 92% of U.S. large-cap, actively managed equity funds underperformed the S&P 500, according to data collected by S&P Dow Indices.

Even during April, the 25th best month of performance in the past 26 years for such large-cap managers, only 63% of mutual funds beat their respective benchmarks, according to Bank of America Merrill Lynch.

And the pressure on stock pickers is mounting because of exchange-traded funds, which feature lower trading costs and returns that are often competitive with or better than those of professionally managed funds.

» The Best Strategies for Investing

Debating investing in individual equities or actively managed funds versus passive vehicles, such as ETFs? Here’s why it’s so difficult to pick a winner.

The fee hurdle

Before ETFs became so popular, mutual fund managers faced a simpler task: Pick stocks that performed better than the overall market, ideally better than the stocks their competitors picked. But with more investment choices comes more pressure. Active managers must now outperform by enough to make up for their funds’ higher costs relative to ETFs.

That additional burden can be significant. Equity mutual funds charged an average of 1.28% in annual administrative expenses — or what’s called an expense ratio — in 2016, compared with the 0.52% charged by the average equity ETF, according to data from the Investment Company Institute.

To match investors’ expectations from ETF returns, some portfolio managers create funds that mimic an index without completely duplicating it — what’s known as closet indexing. That can result in bloated or overly diversified portfolios that get dragged down by less-than-stellar picks. In addition, mutual fund managers often impose high redemption fees to discourage short-term trading, typically defined as holding shares for less than a year.

But costs alone don’t explain why stock pickers face such a challenge. Dynamics within the market also are partly to blame.

» 5 Ways to Put a Windfall to Good Use

Market correlation

When unrelated assets move in lock-step — what’s known as correlation — it’s that much harder for stock pickers to find the ones that will go up even more than the average.

The past seven years have been tough in this regard. Among the 11 sectors of the S&P 500, the average correlation to the broader index ranged from 70% to 95% between 2009 and 2016, before dipping to as low as 57% in February and March, according to figures compiled by Convergex, a U.S. brokerage firm.

This has provided “some oxygen for active managers to outperform,” wrote Nicholas Colas, chief market strategist at Convergex, in an April report. Even Goldman Sachs has proclaimed the current market conditions —  notably rising return dispersion — as a potential boon to skillful stock pickers.

» How to Spend (or Invest) Your Tax Return

The problem is, if analysts are right, these dynamics are likely temporary, which puts the longer-term fate of stock picking at peril. And remember, in addition to beating the market, active managers must also provide better returns than a comparable ETF to make up for their higher fees.

‘An inherent disadvantage’

One theory got some buzz earlier this year: The odds are stacked in favor of indexes, and it’s not a fair fight for stock pickers.

Returns for a particular index are heavily skewed to a few of its biggest winners, so a portfolio manager generally must invest in these stocks just to keep up with the index’s performance. Picking a subset of stocks increases the odds those picks will underperform versus the index, according to a 2015 paper written by J.B. Heaton, Nick Polson and Jan Hendrik Witte, with a February update by Hendrik Bessembinder of Arizona State University.

“Active managers do not start out on an even playing field with passive investing. Rather, active managers must overcome an inherent disadvantage,” the authors concluded. And Bessembinder notes that compounding only increases that disadvantage over time.

What’s an investor to do?

There are many advantages of index-based funds and ETFs for individual investors. But that doesn’t mean you should dump all of your individual equities or actively managed funds and convert to just any passive vehicle. Not all index funds and ETFs are created alike. There are even some actively managed ETFs which come with higher fees.

Still, the explosion of these assets has given investors more options. If you’re dissatisfied with the longer-term performance of your mutual funds, consider making the switch. Do your homework first, paying attention to fees, commissions and the assets included in the ETFs you’re considering.

If you think you can beat the odds stacked against professional stock pickers, tread with caution. Don’t invest with money you’ll need for short-term expenses or put your entire retirement nest egg at stake.

Anna-Louise Jackson is a staff writer at NerdWallet, a personal finance website. Email: ajackson@nerdwallet.com. Twitter: @aljax7.