Unemployment Affects Displaced Workers’ Retirement Outlook

LOS ANGELES–(BUSINESS WIRE)–6/2011  A new study released today by the non-profit Transamerica Center for Retirement Studies® (“The Center”) illuminates how unemployment and underemployment can impact the retirement outlook of displaced American workers. The study of 668 displaced workers who are either unemployed or underemployed—part of the 12th Annual Transamerica Retirement Survey—found that the majority (67 percent) of these displaced workers are less confident in their ability to achieve a financially secure retirement since the recession began. However, the survey report also identifies steps that can be taken to improve their long-term prospects. “It is vital for workers to do all they can to help avoid tapping into their retirement savings.”

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Did you hear the great news about Estate Taxes?

The Internal Revenue Service announced October 30th, 2014, that the 2015 estate-tax exemption will rise to $5.43 million per individual from $5.34 million this year, due to an inflation adjustment. Married couples can get the benefit of two individual exemptions, so the total exemption per couple will be nearly $11 million.  Only about 3,700 estates, or 0.12% of the total, are expected to owe federal estate tax this year. The top estate tax rate on amounts above the exemption is 40%.

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Top 10 Questions to Ask about Your Financial Vulnerability

How financially vulnerable are you?  According to a 2010 LIMRA report “Facts About Life 2010,” more than 40% of Americans say the reason they don’t have more life insurance is because of other financial priorities, like saving for retirement.  Furthermore, nearly 70% of American households with children under 18 would be in financial jeopardy if the primary breadwinner died.  Even if you feel financially secure today, there are factors outside your control that could impact that security tomorrow.  Become more proactive and purposefully begin a plan that will provide protection, growth and security in spite of uncontrollable life events.

The following are some common questions that require definitive answers to establish solid plans for those “what if” events.

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Essential Steps for Improving Your Relationship…with Money!

The change of seasons reminds us that, while many aspects of life change, what must remain constant is confidence in our ability to respond versus react to change in general. At times, it may seem as if you have no control over what happens, but you always have control over how you respond to everything that happens to you.

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Retirement Time Line Ages 50-70 1/2

This article provides a general overview of a retirement time line without enumerating all the pros and cons surrounding the age specific decisions.  Many people think major retirement decisions coincide with your 65thbirthday.  In reality, many important decisions begin as early as age 50.  Actually, you are never too young to start developing your long term financial objectives.  “If I knew then what I know now …” is a phrase often spoken by seniors who would have done things differently if they had been more informed young enough to make intelligently planned decisions versus emotionally charged emergency ones in reaction to sudden life changing events.

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Set Your Course for Financial Fitness

I used to subscribe to the philosophy, “Success is a journey, not a destination!”  Now one of my favorite sayings since owning a Honda Odyssey is, “Life is an odyssey!  Enjoy the ride!”  One of the  best ways I know to enjoy the ride is to be financially, physically, emotionally, and spiritually fit.   As a CPA, my clients focused on their financial fitness because retirement planning has been traditionally about numbers.  Now as a PAC (Personal Achievement Coach), clients focus more on their personal outlook and mindset, the starting point which leads to improved financial statements, health,  relationships, and fulfilling their life dreams.

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Until One Is Committed!

Why New Year’s Resolutions Often Feel Useless!

Ever wonder why nothing ever gets started until someone commits to doing something?  Without commitment, setting “goals” is a useless process.  Make a small SHIFT and focus on the commitment for whatever you choose to achieve this year to create your best year yet!

It may seem obvious, but intentionally making a commitment (and keeping focused on it long after the energy with which you started a project wears off) is the first domino in the sequence to put things into motion, then Providence stirs up the universal energy to help manifest your desired outcome or one you never imagined possible.

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