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Women and the Process of Retirement Planning

Planning for retirement income shouldn’t stop just because you retire. It’s a process, much like raising children and pursuing a career.

You learn, you implement, you make mistakes, you seek advice. So whether you are already retired, nearing retiring or thinking about it as an abstract concept many years away, we can help you engage in this ongoing process.

In addition to general retirement income planning for a couple, it’s a good idea for married couples to also engage in individual reitrement income planning. Odds are, one spouse will live longer than the other, so it’s important to plan for financial security once one spouse has passed away. Given that women generally live longer than men, this can be especially important for them. 

[CLICK HERE to read the report, “Impact of Retirement Risk on Women,” from Women’s Institute for a Secure Retirement, 2013.]

[CLICK HERE to read the article, “10 Money Tips for Retired Women on Fixed Incomes,” from NextAvenue.org, Aug. 28, 2015.]

Needs change throughout life, whether you’re a man or a woman. But a change in marital status can have a more detrimental impact on financial security in retirement for women.

When a woman gets divorced, she is likely to lose her survivor’s benefits from her ex-husband’s pension plan. That’s why it’s important as part of the divorce settlement to draw up a special court order, called a Qualified Domestic Relations Order, that can specifically provide for a survivor’s pension in the event of divorce.

Widows now have protection for survivor’s benefits, thanks to a 1984 law that requires private pension plans to provide a pension to a worker’s surviving wife (or husband) if the employee earned a benefit.

In fact, the employee’s spouse has to provide written permission in order to waive this right. Note, however, that this legislation only applies to private pension plans. If the spouse worked at a state, local or federal government job, then the widow should find out what rules apply to that pension.

Now, some people suffer through one or more divorces and decide, “That’s it. I’m not ever getting married again.” They may engage in a long-term relationship and even share a home with a partner, but simply not marry. This arrangement should be considered in the process of retirement income planning, because common law and non-married partners may not have a legal right to survivor benefits from Social Security or pension plans. Despite its troubles, marriage may still have financial benefits, depending on the situation.

[CLICK HERE to read the article, “Rights of Surviving Spouses,” from Women’s Institute for a Secure Retirement, 2015.]

[CLICK HERE to read the article, “Widows and Widowhood,” from Women’s Institute for a Secure Retirement, 2015.]

If you’re a working woman, you have plenty of good income planning options. Especially when you consider that within the next 15 years, it’s estimated that women will control two-thirds of the wealth in the U.S.

That is particularly remarkable when you consider that, on average, women still earn about 22 cents less per dollar than men. But women will need the extra funds, because right now experts project that 70 percent of baby boomer wives will outlive their husbands by 15 to 20 years.

[CLICK HERE to view the video, “The Financial Divide: Women and Wealth,” from Regions Bank, 2015.]

[CLICK HERE to read the article, “Women and Retirement Savings,” from U.S. Department of Labor, August 2013.]

Regardless of where you are in the lifelong process of retirement income planning, it’s certainly never too late to get started. Even if you have a plan for retirement income as a couple, it’s a good idea to ensure it would cover a surviving spouse.

As always, we’re here to help you with just that type of retirement income planning — now, and as you need it throughout your lifetime.

We are an independent firm helping individuals create retirement strategies using a variety of insurance products to custom suit their needs and objectives.

The information contained in this material is provided by third parties and has been obtained from sources believed to be reliable, but accuracy and completeness cannot be guaranteed; it is not intended to be used as the sole basis for financial decisions.

If you are unable to access any of the news articles and sources through the links provided in this text, please contact us to request a copy of the desired reference. 

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Finding Fulfillment in Part-Time Work

Professional employees in their 50s and 60s are starting to think more strategically about retirement. Not just about how to pay for it, but how they’ll spend their time once they get there.

For some, that means they’d like to keep doing what they’re doing — just not quite so much of it. According to one survey, 80 percent of workers in their 50s and up indicate an interest in staying in the workforce past their planned retirement date if they could scale back their hours and responsibilities.

Take Steve Norwitz, for example. After 38 years working in media relations at T. Rowe Price, he took a 25 percent pay cut in exchange for just over three months’ vacation time each year. Now, at age 68, in between the special projects he manages for the company, Steve and his wife have traveled to Ecuador, China and Slovenia and taken a river cruise down the Rhine.

When he’s home, Steve’s happily engaged at work and out of his wife’s hair. It’s a win-win, not only for the couple, but also for his company that benefits from his same experience for a much lower price.

[CLICK HERE to read the article, “Facing Retirement, but Easing Your Way Out the Door,” from The New York Times, Aug. 28, 2015.]

[CLICK HERE to view the infographic, “Retirement Throughout the Ages: Expectations and Preparations of Workers of All Ages,” from Transamerica Center for Retirement Studies, 2015.]

As your financial professional, we specialize in creating financial retirement solutions, but not all of them are asset-based. As people live longer, a better solution than retiring altogether might be to save for periods of unemployment, with eventual returns in and out of the workforce. For that, you need flexible and customized retirement income strategies.

Today’s buzz word in the halls of human resource departments is “work-life balance.” If the millennials can demand it, why not soon-to-be retirees? According to one research report, work-life balance is the single most important factor on staff morale — up from its No. 6 ranking in 2009. Interestingly, it’s those in senior management who complain of having the worst work-life balance.

Maybe it’s time for a change. Not a dramatic change, like retirement, but a reorganization of priorities — so mature workers can keep the responsibilities they like and delegate the ones they don’t. At the same time, this opens the door for younger workers to pick up more responsibilities and management opportunities under the watchful eye of an experienced coach.

[CLICK HERE to read the article, “Bosses have the worst work-life balance in 2015,” from Human Resources Online, Aug. 18, 2015.]

[CLICK HERE to read the report, “Wellbeing and Business Performance,” from Morgan Redwood, 2015.]

Unfortunately, while it looks like companies are starting to embrace a culture change that includes workplace flexibility, not everyone is on board. And so it may in your world. But consider whether that should stop you from achieving your own work-life balance.

There are other companies and other jobs that may value your skills and experience in a less demanding environment. To go this route, consider two things. First, focus on your skill set, not your past job descriptions. You may find that your knowledge is applicable across different types of businesses and industries.

Second, consider how to transform from a workaholic Type A personality to a more laid-back Type B. This doesn’t mean you have to drop your standards for work performance, simply that you learn to enjoy your labors more. After all, at the pre-retirement stage in a career it’s important to appreciate that work is a privilege, since it may not always be an option.

[CLICK HERE to read the article, “The Future of Work and Our Social Compact,” from Forbes, June 18, 2015.]

[CLICK HERE to read the report, “How to Go From Type A to Type B in Retirement,” from NextAvenue, July 14, 2015.]

If you’d like to discuss ways to integrate your retirement income plan with your career, please give us a call.

We are an independent firm helping individuals create retirement strategies using a variety of insurance products to custom suit their needs and objectives.

The information contained in this material is provided by third parties and has been obtained from sources believed to be reliable, but accuracy and completeness cannot be guaranteed; it is not intended to be used as the sole basis for financial decisions.

If you are unable to access any of the news articles and sources through the links provided in this text, please contact us to request a copy of the desired reference. 

AE09155160

Waste Not, Want Not

The proverb, “Waste not, want not,” suggests that if you use a commodity or resource carefully, you will never be in need.

As a nation, we’ve seriously enhanced our efforts in the “reduce, reuse, recycle” department over the past 20 years, but we still have a ways to go in some aspects.

[CLICK HERE to read the article, “Everything you ever wanted to know about recycling,” from Marketplace.org, July 6, 2015.]

[CLICK HERE to read the article, “Recycling Industry Created Its Own Mess,” from BloombergView, July 9, 2015.]

Time and money are wasted most when people work at cross purposes and have competing intentions. This is evident in spending at all levels, from the budgets of individual people all the way up to the billions spent by the federal government.

Even attempts to save can ultimately lead to waste. When a department hasn’t spent its allotted budget, it might stock up on things like ancillary office supplies or furniture because if the full budget isn’t spent, the unused amount may be cut the following year. 

This is similar to what we sometimes do in our own homes. We might track expenses and successfully reduce our utility or grocery bills, then reward ourselves with a more expensive vacation or splurge on holiday gifts. Perhaps that’s OK if we are saving for that specific purpose, but if the goal of reducing expenses is to save more for college or retirement, then we’re working at cross purposes.

Some waste tactics are specifically deployed for longer-term objectives, but others times we act without forethought or a plan. That’s why professional financial guidance is so important — to keep us mindful of our spending and savings habits and focus on financial goals.

Excessive spending in the U.S. isn’t just limited to consumers. In his most recent “Waste Report,” Representative Steve Russell (R-Okla.) identified 10 wasteful government projects that cost taxpayers approximately $4.2 billion, ranging from “a wacky theater troupe in San Francisco to military helicopters purchased from Russia.”

[CLICK HERE to read the report, “Waste Watch,” from Rusell.House.gov, July 2015.]

Nowhere are competing interests more evident than in Congress. In the summer of 2015 alone, 77 bills were passed in the House and 36 were passed in the Senate, but only 27 of those were signed into law.

When Republicans sponsor a bill, Democrats will often sponsor similar legislation with just a few alterations, and vice versa. This political jostling may benefit one party or the other in the end, but taxpayers are left to pay the excess money it takes to drive two or more similar bills through the legislative system.

[CLICK HERE to read the article, “Congress’s Summer Session — A Recap,” from GovTrak.us, Aug. 18, 2015.]

[CLICK HERE to read the article, “American economy blues: Everything you need to worry about,” from Fortune, Aug. 20, 2015.]

There’s only so much we can do about how the federal government allocates its time and money, but getting the most out of your personal finances is in your control. Call us if you ever have questions about managing your money.

We are an independent firm helping individuals create retirement strategies using a variety of insurance products to custom suit their needs and objectives. We are not affiliated with the U.S. government or any governmental agency.

The information contained in this material is provided by third parties and has been obtained from sources believed to be reliable, but accuracy and completeness cannot be guaranteed; it is not intended to be used as the sole basis for financial decisions.

If you are unable to access any of the news articles and sources through the links provided in this text, please contact us to request a copy of the desired reference. 

AE09155158

The End of the Material World?

In the 1980s, Madonna sang about being a material girl living in a material world.

Following the economic slump of the 1970s, the ’80s came to be known as “The Decade of Excess,” featuring a sustained period of low unemployment and strong economic growth. It was an era of big hair, big shoulder pads and big spenders.

[CLICK HERE to read the article, “Back to the Future: U.S. Economy In 1985 versus 2015,” from ValueWalk, Jan. 8, 2015.]

[CLICK HERE to read the article, “The US economy isn’t having a ’90s flashback, it’s having an ’80s flashback … and it’s totally rad,” from Quartz, Jan. 6, 2015.]

But recently, there’s been a shift toward more conservative spending — not surprising after the multi-year recession followed by slow economic recovery. Every generation has its reasons for increased frugality.

  • Seniors living longer and wary of outliving their savings.
  • Baby boomers wondering if they’ve saved enough for their own retirement.
  • Increased college tuition and health care spending preventing Generation X from enjoying the traditional growth pattern of “trading up” in houses and lifestyle.
  • Millennials saddled with student debt and a long period of high unemployment.

[CLICK HERE to read the article, “Why millennials and the Depression-era generation are more similar than you think,” from Fortune, April 29, 2015.]

[CLICK HERE to read the article, “The Challenges of the Aging Industry,” from the American Society on Aging, Aug. 13, 2015.]

As your financial professional, we’re here to help you address concerns like these so you don’t have to wonder where you stand financially now and in the future.

Regardless of your position, everyone’s always looking to save a penny or two. But doing so doesn’t mean you have to hole up in your house and cancel your upcoming trips. In fact, it’s quite the opposite.

The past 10 years have spawned an abundance of studies revealing that it’s experiences, not possessions, that bring enduring happiness. In fact, the anticipation of buying something appears to be more satisfying than the actual ownership, and experiential purchases like trips, concerts and movies tend to be more gratifying than material purchases.

That’s not to say people necessarily are spending less money, simply that a shift in what they buy — experiences versus material goods — can lead to greater fulfillment.

[CLICK HERE to read the article, “Buy Experiences, Not Things,” from The Atlantic, Oct. 7, 2014.]

[CLICK HERE to read the article, “Stores Suffer From a Shift of Behavior in Buyers,” from The New York Times, Aug. 13, 2015.]

In July 2015, data released by the Commerce Department demonstrated that Americans are indeed spending more money on things that at least enhance their daily life experiences. This included dining out more, renovating their homes and spending money on sports equipment and beauty aids.

These consumer items may not take up space in our homes, but they do serve to enhance the way we feel about ourselves. And that’s no small thing.

The same can be said for saving more for your retirement. The money you put away isn’t tangible — it won’t be sitting on your mantel or parked in your driveway. But it can definitely make you feel better about the investment you’re making in your future, and provide a sense of confidence that no manner of clothes or electronics can replicate.

We’re here to help you create that sense of well-being and confidence. Call us for a guiding hand.

We are an independent firm helping individuals create retirement strategies using a variety of insurance products to custom suit their needs and objectives.

The information contained in this material is provided by third parties and has been obtained from sources believed to be reliable, but accuracy and completeness cannot be guaranteed; it is not intended to be used as the sole basis for financial decisions.

If you are unable to access any of the news articles and sources through the links provided in this text, please contact us to request a copy of the desired reference.

AE09155155

Gaining Interest in the U.S. Economy

The Federal Reserve doesn’t just raise interest rates on a whim.

While a steady economy and improving unemployment rates have many convinced a rate hike is in order for the United States, there is plenty of reason for the Fed to play it safe before issuing an increase.

Some say low interest rates have helped stimulate recent economic growth by making money cheap to borrow. Companies invest more in their operations, and consumers buy more houses, cars and other large-ticket items.

However, others argue, the more people buy, the more manufacturers believe they can charge, and this can lead to inflation. The Fed tries to pre-empt this from happening by raising interest rates to slow inflation and keep supply and demand in check.

There are positives and negatives to an interest rate increase, and how it affects you depends on your financial situation.

[CLICK HERE to read the article, “September Is Looking Likelier for Fed’s First Rate Increase,” from The New York Times, July 29, 2015.]

[CLICK HERE to read the article, “Jobs report supports a Fed rate hike in September,” from MarketWatch, Aug. 7, 2015.]

One positive of interest rate adjustments is the prevention of artificially cheap capital that might be enticing at the present moment, but doesn’t necessarily increase productivity, and can stunt long-term growth. At least one industry analyst contends that raising rates is necessary to curb excessive borrowing and the allocation of capital into less productive ventures.

[CLICK HERE to read the article, “Rates Must Rise to Avert Next Crisis,” from Guggenheim Partners, July 17, 2015.]

[CLICK HERE to read the article, “Janet Yellen’s Dashboard,” from Hutchins Center on Fiscal & Monetary Policy at Brookings, Aug. 7, 2015.]

A change in the direction of interest rates is likely to impact us all in various ways and to various degrees — affecting everything from mortgages and car loans to credit card debt, investments and savings accounts.

One area of the U.S. economy that has been on the decline, even with low interest rates, is homeownership. The percentage of people who own homes is approaching historic lows, currently at its lowest point since 1967.

The hardest hit demographic is Generation X, which was in a prime position for a first-time home purchase, or to trade-up after having children, when the real estate market crashed. Now, homeownership rates among gen-Xers (ages 35-54) have fallen further than any other age group. Compared to same-aged households 20 years ago, they are 4 to 5 percentage points lower.

[CLICK HERE to read the article, “U.S. Homeownership Drops to its Lowest Level Since 1967,” from Time, July 28, 2015.]

[CLICK HERE to read the report, “The State of the Nation’s Housing: 2015,” from Joint Center for Housing Studies of Harvard University, 2015.]

As evidenced with the surprisingly low homeowner statistics, predicting interest rate and the economy’s effects on the nation as a whole can be difficult. But, as always, our focus is on your individual financial situation. If we can help you understand your financial future, and how the current interest rate environment applies to you, please give us a call.

We are an independent firm helping individuals create retirement strategies using a variety of insurance products to custom suit their needs and objectives.

The information contained in this material is provided by third parties and has been obtained from sources believed to be reliable, but accuracy and completeness cannot be guaranteed; it is not intended to be used as the sole basis for financial decisions.

If you are unable to access any of the news articles and sources through the links provided in this text, please contact us to request a copy of the desired reference.

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The Shame Game: How Much Does Peer Pressure Motivate Us?

The globalized age of the Internet has deepened an already uncomfortable fact of human society: shame. Classroom bullying has migrated to text and social media. Business reputation is more Yelp or Angie’s List than word of mouth. But how much does the power of public shame actually affect our behavior?  

There is dissent over how much peer pressure can motivate, and, of course, this can include pressures over retirement preparations. In one study, nearly a third of respondents said they made positive financial decisions based on how they felt about falling behind their peers in savings and salary. However, in another study, the same kind of peer pressure demoralized participants. It had the opposite effect; learning they were so far behind the curve made respondents less likely to sign up to participate in their company’s retirement savings plan. 

Thankfully, we don’t worry about “keeping up with the Joneses” when we help people craft their retirement income strategies. After all, the success of your planning will be judged against your goals, your expectations and your lifestyle, not anyone else’s. Contact us if you would like our guidance in helping you get on the right track for financial confidence. 

[CLICK HERE to read the article, “How peer pressure can help you save for retirement,” from Bloomberg, June 9, 2015.] 

[CLICK HERE to listen to the report, “Why Peer Pressure Doesn’t Add Up To Retirement Savings,” from NPR, July 31, 2015.] 

So, amid the tools available for manipulating behavior, whether that of an individual, company, sector, country or global initiative, how effective is “naming and shaming”?

At least one customer-service poll indicates, at least at the corporate level, it isn’t terribly effective. In an age when companies known for superior customer service can be few and far between, some companies are better known for their poor customer service than for their products or services. It should be no surprise, then, which companies made this year’s “Customer Service Hall of Shame” in a recent poll by 24/7 Wall St., which was dominated by representation in the cable/satellite and banking sectors. Several of the companies on this list are repeat offenders; some for seven years running.

The fact they don’t improve customer service despite suffering from such a bad reputation begs the question: Does shaming EVER work?

[CLICK HERE to read the article, “Customer Service Hall of Shame,” from Yahoo Finance, July 31, 2015.]

The authors of “Shame and the Motivation to Change the Self” (Emotion, December 2014) would argue it does. They maintain the human experience of shame is associated with a motivation to change, and that it can be a positive factor of personal growth.

For instance, peer pressure can make us more charitable. A study published in The Economic Journal revealed that when asked to give to a charity, donors would investigate others’ past donations to help them determine how much to give. Their contributions had more to do with “keeping up with the Joneses” than how they felt about the charity’s mission. The study concluded large donations served to put pressure on other donors, who were then driven to display their own wealth via similar donated amounts.

[CLICK HERE to read the article, “Shame and Motivation to Change,” from Psychology Today, Jan. 29, 2015.]

[CLICK HERE to read the article, “This Little-Known Tactic Gets People to Donate to Online Fundraisers: Peer Pressure,” from Huffington Post, June 18, 2015.]

Certainly, when it comes to traditional, interpersonal shame (the kind that existed even in the nostalgic days pre-Internet), it continues to be a powerful tool of society. In small villages in a Himalayan valley where people rely on each other to share, cutting off your neighbor’s access to water and power can result in being cast out. Perpetrators are not just cut off from access to the resources they denied their neighbor. The other villagers stop speaking to the offenders altogether. The very power of this shaming tactic is what keeps inhabitants alive and thriving in these hardship areas.

 [CLICK HERE to read the article, “The Power of Peer Pressure,” from Slate.com, March 25, 2015.]

We are an independent firm helping individuals create retirement strategies using a variety of insurance products to custom suit their needs and objectives.

The information contained in this material is provided by third parties and has been obtained from sources believed to be reliable, but accuracy and completeness cannot be guaranteed; it is not intended to be used as the sole basis for financial decisions.

If you are unable to access any of the news articles and sources through the links provided in this text, please contact us to request a copy of the desired reference.

AE08155146

Growth: A Product of Planning and Sharing

We all want the magic key to growth. From growing our personal wealth to business growth to national gross domestic product, Americans are obsessed with figuring out the perfect growth formula.

Unfortunately, the reality is there is no magic solution for any of these areas. Numerous factors interplay to contribute to growth, adding up to be advantageous, disadvantageous or neutral.

When considering the best options for growing personal wealth for retirement, one of the biggest factors is planning. While a minority of individuals plan even 10 to 15 years ahead of retirement, studies show planning can make the difference in whether you have enough income in retirement. Those who plan ahead tend to have double or triple the wealth of those who do not.

The concerns of planning for your retirement income are particularly key for several reasons, not the least of which is that centenarians (the population over age 100) are the fastest-growing age group as we are living longer than ever. Additionally, it’s more expensive to retire than it used to be, making the amount of funds you can accumulate for a longer retirement more important than ever. You don’t have to stumble through these kinds of obstacles alone, though. If we can help you put together a retirement funding strategy – or review one you already have in place – please give us a call.

[CLICK HERE to read the article, “How Financial Ignorance Can Ruin Retirement,” from Forbes, July 15, 2015.]

[CLICK HERE to read the article, “A Retirement Age of 100? It’s Coming,” from The Wall Street Journal, Feb. 9, 2015.]

Beyond growth of our personal resources, Americans want to see strong industrial growth. This kind of growth has traditionally been motivated by innovations, spurred by competitors who tried to build on the success of their peers. In the 1990s and early 2000s as globalization peaked, proprietary information trickled through each industry by way of supply chains, as companies saw what others were doing and shared that information with the others they supplied.

However, company growth and productivity in recent decades has been negatively impacted by the trend of proprietary intellectual capital. Also known as “excludability,” the phenomenon is defined as the degree to which a company can prevent competitors from learning its secrets. In recent years, we’ve seen a dramatic increase in patents and other legal maneuvering that thwarts the free flow of ideas. Now, in many cases, sharing information protected as intellectual property is against the law. The net result? Less sharing and less industry growth, according to a study by the Organization for Economic Co-operation and Development.

[CLICK HERE to read the article, “The Secret to a Great Economy,” from BloombergView, July 31, 2015.]

To contrast the slow of industrial growth and productivity, we see sharing as a contributory theme in metropolitan growth. Larger cities (more than 300,000 people) in the U.S. have recovered faster from the economic downturn than smaller ones, according to a new report from the National League of Cities. The report cited an increase in new business start-ups, business expansions and a more robust retail sector as reasons for this organic growth. In other words, the more customers out and about sharing the wealth, the faster these places saw businesses, employment opportunities and general economic recovery signs grow.

[CLICK HERE to read the article, “Economic recovery felt most in big cities,” from The Hill, July 31, 2015.]

Our obsession with growth prompted the Bureau of Economic Analysis to publish a new measurement for it in July. Called the “gross domestic output,” or GDO, the measurement averages gross domestic product (GDP) and gross domestic income (GDI). In theory, the GDP and GDI measure the same thing: the total value of the economy’s output. However, GDP tracks expenditures on final goods and services produced in the United States, whereas GDI tracks the income that those who produce those goods actually receive.

As you ponder national economic growth and how it may affect your personal planning for retirement, a recent report has revealed one of the best ways for a layperson to measure the growth of GDP. Because the transportation sector is the fourth-largest U.S. industry sector (behind housing, food and health care), the number of semitrailers on the road roughly correlates to the number of goods sold and shipped in the U.S. Basically, the more semitrailers you see, the better the GDP is doing. So perhaps the next time you find yourself frustrated at sharing the road with a big rig, perhaps it will help to think about it as sharing the road with national growth.

[CLICK HERE to read the brief, “A Better Measure of Economic Growth: Growth Domestic Output (GDO),” from WhiteHouse.gov, July 2015.]

[CLICK HERE to read the article, “The Trucking Industry Is Delivering Good News for the Economy,” from Time, July 30, 2015.]

We are an independent firm helping individuals create retirement strategies using a variety of insurance products to custom suit their needs and objectives.

The information contained in this material is provided by third parties and has been obtained from sources believed to be reliable, but accuracy and completeness cannot be guaranteed; it is not intended to be used as the sole basis for financial decisions.

If you are unable to access any of the news articles and sources through the links provided in this text, please contact us to request a copy of the desired reference.

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Flipping the Script on the Gender Pay Gap

Despite increased efforts to narrow the financial gap between men and women, there’s still no shortage of cultures that prioritize males when it comes to divvying up the monetary spoils.

In China, when divorcing couples can’t agree on how to divide their assets, the family home typically goes to the men, even though Chinese women (and their parents) contribute to more than 70 percent of mortgages and 90 percent of cash purchases of homes. Because homes are often registered under the man’s name, the wife forfeits that investment by law.

This is one of the common practices still in existence today that demonstrates the old Chinese saying: “Raising a daughter is like watering someone else’s garden.”

[CLICK HERE to read the article, “Watering the gardens of others,” from The Economist, June 12, 2015.]

However, the financial world’s dated viewpoints on men and women aren’t just limited to foreign countries. In the U.S., males are often trusted to handle the family investments, something author Meredith Jones says should change in her new book, “Women of the Street: Why Female Money Managers Generate Higher Returns (And How You Can Too).”

Jones writes that women’s specific characteristics can, in some situations, offer higher value. Women tend to be more conservative when it comes to money management, both personally and professionally, and a Vanguard study revealed that during the 2007-08 financial crisis, accounts led by women lost 13 percent, while accounts led by men lost 16 percent.

Women were less likely to sell at or near market lows, and thus yield better returns, in part because of their conservative nature.

[CLICK HERE to read the article, “7 Reasons Women Make Better Money Managers than Men,” from ThinkAdvisor.com, June 10, 2015.]

[CLICK HERE to read the article, “Women Investors: Toss the Piggy Bank, Be Less Risk Averse,” from HeartsandWallets.com, Jan. 23, 2015.]

Although women, as a whole, currently make less than men, it’s possible that they could out earn their male counterparts over the course of their lifetimes. More women graduate from college than men, and they have longer lifespans. With people living and working longer than ever, it might not be long before women are retiring with more money despite a disadvantage in pay.

[CLICK HERE to read the article, “Women are dominating men at college. Blame sexism,” from The Washington Post, Dec. 11, 2014.]

[CLICK HERE to read the article, “Forget Retirement: Older Single Women Love Their Jobs,” from ThinkAdvisor.com, June 9, 2015.]

All of this brings to mind the story of the tortoise (women) and the hare (men). Perhaps with less flash and more plodding, conservative discipline wins the race. It did in the fable and may be the key to success in real life. Careful financial planning is no secret, and it’s a strategy men should practice as well.

Whether you’re a tortoise or a hare, we’re here to help you determine strategies that can help you feel more confident in your financial future. Give us a call with any questions or concerns you may have.

We are an independent firm helping individuals create retirement strategies using a variety of insurance products to custom suit their needs and objectives.

The information contained in this material is provided by third parties and has been obtained from sources believed to be reliable, but accuracy and completeness cannot be guaranteed; it is not intended to be used as the sole basis for financial decisions.

If you are unable to access any of the news articles and sources through the links provided in this text, please contact us to request a copy of the desired reference.

AE07155140

Feeling Stressed? Find Some Green.

It’s not easy being green.

That signature line delivered by Jim Henson’s Kermit the Frog, and later covered by Frank Sinatra and countless others, has taken on a variety of meanings over the years. One way the classic Muppets song applies to the world today is the difficulty in finding green areas in urban neighborhoods.

Imagine being a youngster in a low-income family, looking outside and, instead of seeing a tree to climb or grass to play in, being surrounded by man-made structures and the dangers of gang violence.

Earlier this year, research from Stanford University found that growing up in an environment sans nature’s bounty can have a direct impact on a person’s overall physical and mental well-being. The lack of green areas in urban neighborhoods may even impede the maturity of children’s brains and be a factor in their economic decline.

Whether it’s growing up in a rough neighborhood or keeping track of the bills in an upscale community, people of all ages and economic statuses face some form of stress. The best way to combat this is confidence, something we’re here to provide as your financial professional.

Knowing that you’ve received professional advice and have proactively created a plan to secure your financial future as well as that of your family can help relieve anxiety. Through years of saving and hard work, you’ve put yourself in a position where you can enjoy the world around you: taking walks, enjoying a sunset unobstructed by pollution and gazing upon the bloom of flowers.

Several children today are growing up in an environment where those simple pleasures are absent. That’s why some cities have started focusing on restoring green areas in low-income neighborhoods, strategically planting shrubs and trees to screen out busy street noises and reduce the glare from headlights.

[CLICK HERE to read the article, “The Simple Idea That Could Make America’s Poorest Neighborhoods Healthier,” from Think Progress, July 10, 2015.]

For an example of how green spaces can help maintain happiness, even in a financial predicament, just look at what’s happening in Greece. The country’s financial struggles may have city residents in a damper, but those living in the beautiful mountain villages have a bit more hope.

“I have my lettuce, my onions, I have my hens, my birds, I will manage,” one retiree stated after his government pension was cut.

While those who live in outlying areas still feel the effects of shuttered banks and reduced government services, they have a better chance of surviving than city dwellers. In short, they are using age-old tactics that have enabled them to survive wars and natural disasters: chickens and a vegetable patch.

[CLICK HERE to read the article, “Greek villagers’ secret weapon: Grow your own food,” from The Houston Chronicle, July 3, 2015.]

Then there are traditional stress relievers. We’ve always known they worked, we just didn’t know the science behind them. For example, adult coloring books have recently become de rigueur as a modern-day stress reliever.

Sugar has been proven to reduce levels of cortisol, the stress hormone, and hugging releases oxytocin, a hormone that promotes feelings of devotion, trust and bonding.

[CLICK HERE to read, “Colouring books for adults a new way to relieve stress,” from CBC News, July 8, 2015.]

[CLICK HERE to read the article, “Sugar as a Stress Reliever,” from The New York Times, April 23, 2015.]

[CLICK HERE to read the article, “7 Reasons Why We Should Be Giving More Hugs,” from The Huffington Post, March 27, 2014.]

These are all great remedies, but the ideal situation is to avoid stressful circumstances to begin with. If you ever have questions about your financial circumstances, feel free to give us a call.

We are an independent firm helping individuals create retirement strategies using a variety of insurance products to custom suit their needs and objectives.

The information contained in this material is provided by third parties and has been obtained from sources believed to be reliable, but accuracy and completeness cannot be guaranteed; it is not intended to be used as the sole basis for financial decisions.

If you are unable to access any of the news articles and sources through the links provided in this text, please contact us to request a copy of the desired reference.

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Don’t Spend Summer in Hot Water

Everyone slips up from time to time. It’s human nature.

But some mishaps are easier to make up for than others. A misstep in your financial decision making can have significant and far-reaching ramifications, which is why it’s generally a good idea to run your ideas by an objective professional to avoid regrets in the future.

Some recent headline-makers provide good reminders about the benefits of fully thinking through ideas before acting on them.

Anyone can say the wrong thing, but if it happens when you’re in the spotlight, as Donald Trump was when he announced his candidacy for presidency — that’s tricky business.

His comments about illegal immigrants from Mexico caused a firestorm of media attention, with interesting repercussions.

Detractors have been swift in both criticizing the billionaire mogul, and in some cases, even cutting business ties with him. Conservative supporters have defended his comments, but many remain silent for fear of further disengaging the Latin voting community.

And still others defend his right to free speech. Yes, it’s a right, but is it always a good idea?

[CLICK HERE to read, “Transcript: Donald Trump announces his presidential candidacy,” from CBS News, June 16, 2015.]

[CLICK HERE to read the article, “Macy’s just dumped Donald Trump merchandise,” from Fortune, July 1, 2015.]

[CLICK HERE to read the article, “And Now, What Mexico Thinks of Donald Trump,” from The New York Times, July 2, 2015.]

Historically, we’ve seen many high-profile leaders and celebrities commit gaffes. Some paid the price and eventually recovered to varying degrees, like Martha Stewart after serving jail time for obstruction of justice. Others have suffered immeasurably.

[CLICK HERE to read the article, “Martha Stewart’s Prison Time Actually Helped Her Business,” from Time, Oct. 8, 2014.]

[CLICK HERE to read the article, “How Martha Stewart lost her $2 billion empire,” from The Washington Post, June 29, 2015.]

[CLICK HERE to read the article, “Brian Williams will leave ‘NBC Nightly News’ and join MSNBC,” from The L.A. Times, June 18, 2015.]

How much can our own words and actions hurt us? When it comes to personal relationships, the repercussions can be long lasting. According to relationship experts, using phrases referencing “you always,” “you never” or “you’re being too sensitive” can be irreversibly damaging.

On the other hand, taking responsibility for your words and actions and offering a heartfelt apology can go a long way.

[CLICK HERE to read the article, “The 10 Most Dangerous Phrases in a Relationship,” from The Huffington Post, May 13, 2015.]

[CLICK HERE to read the article, “Benedict Cumberbatch and the Right Way to Apologize,” from The Atlantic, Jan. 27, 2015.]

[CLICK HERE to read the article, “Abby Wambach apologizes for referee criticism, will likely avoid suspension,” from USA Today, Jun. 24, 2015.]

When it comes to finances, if you’d like help determining your moves for the future, please give us a call.

We are an independent firm helping individuals create retirement strategies using a variety of insurance products to custom suit their needs and objectives.

The information contained in this material is provided by third parties and has been obtained from sources believed to be reliable, but accuracy and completeness cannot be guaranteed; it is not intended to be used as the sole basis for financial decisions.

If you are unable to access any of the news articles and sources through the links provided in this text, please contact us to request a copy of the desired reference.

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