How to Kill This Dangerous Pest

The other day, I got one of the most interesting e-mails we've seen in a while...

I have a very bad allergy to a yellow jacket sting/bite, I carry in all my vehicles and at home and when traveling Epi. Pens. I cannot always identify where the nest of these monsters are, nor do I feel they are worth trying to save.

I would like to put meat (they are the only flying bug to eat this) laced with something they will take back to the hive and wipe it out that way. No one seems to know what I can lace the meat with. HELP. – J.R.

Your e-mail caused some debate between the team. Two of my researchers suggested arson, but that's more likely to hurt you than it is to solve your wasp problem.

But mostly, we wanted to figure out the answer to your problem... one that many of us face every summer.

What's the best way to get rid of wasps if you can't find the nest?

Most wasps you'll encounter around your home are vespid wasps... They eat insects... dead or alive, depending on the exact type of wasp. Yellow jackets also enjoy sugar, so be careful when drinking that can of soda outside.

That's why, as you mentioned, meat is great wasp bait. This past summer, when I was on Vancouver Island, we had to use meat bait so we could sit outside on the restaurant patio.

But you have to be careful... Meat baiting, if done incorrectly, could harm other animals.

The three necessities for proper meat baiting are meat, insecticide, and a bait dispenser. The best guide we found on how to set up meat bait safely (and legally) is right here. Some of the Retirement Millionaire Daily team plan on testing this out next summer.

If you try out this method J.R., let us know how it goes. Best of luck.

Q: Can you please address how to include dividends received on a stock in calculating a fixed and trailing stop loss.

Does it make any difference whether you take the dividends as cash or reinvest them to buy more shares? – R.L.

A: Dividend payments change the point at which you would have to close your position.

Let me show you an example...

If you're buying a stock for $10 and set a 25% trailing stop, you would sell the stock when the price falls 25% lower than $10 (down to $7.50). If the price moves to $20, your new stop would be $15.

Let's say you received a $1 dividend payment. All you need to do is subtract that $1 dividend from the highest share price – $20 in this case. Then you use that number – $19 ($20 minus $1) – to set your stop loss. So your stop would move from $15 to $14.25 ($19 times 75%).

If you're using a simple stop, you'd still adjust for the dividend. You don't want to get stopped out because of a dividend. (If the stock pays $1, the stock should drop by about $1 on the same day). And by adjusting, if you've got a 20% stop it'll keep your eventual risk at a 20% loss.

Q: My husband and I are both 57. Would Retirement Trader be something for us? – K.B.

A: Age isn't a key factor when determining if trading options is right for you. Some Retirement Trader subscribers are in their 20s and some are in their 80s. People from all ages and lifestyles have shared their success stories over the years.

What you should consider is the size of your portfolio... Remember that one option contract represents 100 shares of stock. Let's say, for instance, you sell a put with a $20 strike. That means, if you end up being put shares, you'd have to pay $2,000 to buy the shares. And to have a diversified portfolio, you want to make sure you're not putting a huge chunk of it in one investment. (I regularly tell subscribers to put only 4%-5% of their portfolio in any one investment.)

In Retirement Trader, we keep in mind that our subscribers have varied portfolio sizes. So, when possible, we avoid recommending trades on companies with high share prices. Although, if there's a good opportunity, we won't avoid recommending something just because it requires a lot of capital.

For newbie option traders, one of the benefits of Retirement Trader is that we walk you through the trades. We explain what you need to do to place the trade, what prices you should expect to enter the trade at, when to get out of a trade, and more.

We've spent several issues discussing – in detail – the power of selling options. If you missed them, we've included some links in the "What We're Reading" section at the end of the issue. And of course, if you haven't given Retirement Trader a try, you can click to lock in your 30-day risk-free trial right here.

Q: When I see skin cancer mentioned, I pay attention! I do have fair skin and have been one to sun burn in the shade when I was a toddler. I am now 62, and play a certain amount of golf... which obviously takes me outside in the height of the "sun day." I visit my dermatologist yearly and he freezes off pre-cancerous areas.

My question is, "How do I best protect myself when I am out playing?" I don't wear a long sleeve shirt. I live in the Central Valley of California and it gets hot as Hades! I do wear, occasionally, a wide brimmed hat. My fallback is to use sun block products, usually no higher than 15 SPF. – B.C.

A: It's a good idea to be proactive, as you're doing, by visiting your doctor regularly. But you're missing out on the best ways to protect yourself from cancer...

Many of my best tips for protecting your skin are the things you don't do.

The truth is that the easiest way to prevent skin cancer is to protect your skin from excessive sun. If you can schedule golf, avoid prime burning times of 11 a.m. through 2 p.m. Wear a long-sleeved shirt whenever you can and a hat. I also wear sunglasses to protect my eyes. And if you must be outside in the sun, use a low SPF sunscreen.

We've gotten some great holiday survival tips. Keep sending them our way... [email protected].

What We're Reading...