03 Feb 2014

Putting Off Working On Your Tax Return May Cost You, Financial Planner Warns

By Ginny Grimsley
3 Tips for Keeping More of Your Own Money

Nearly 150 million Americans will file federal income tax returns this year and, unfortunately, many will be shelling out much more of their hard-earned money than necessary, says veteran financial expert Jeff Gorton.

"With the ridiculous complexity of our tax code, I can understand how the average person might want to put off doing their homework, but that'll cost you," says Gorton, a veteran Certified Public Accountant and Certified Financial Planner®, and head of Gorton Financial Group (www.gortonfinancialgroup.com).

"When you think about all you do to earn your money, and the lengths we'll go to save a few bucks, it doesn't make sense to not do all we can to prepare for the inevitable - our compulsory contribution to Uncle Sam's bank account."

There is nothing unpatriotic about taking advantage of legal measures to reduce your tax bill, Gorton says. Most Americans, however, don't understand the basics of how to minimize the tax burden, he says.

"If you wait until the last minute to do your taxes, you're sure to miss out on savings," says Gorton, who offers some basic and more advanced tax-saving options.

· Credits: Tax credits are usually subtracted dollar for dollar from the actual tax liability and may be utilized when filing for 2013. They include the Child Tax Credit, which allows up to $1,000 for children younger than 17; the American Opportunity Credit, featuring up to $2,500 in tax savings per eligible student for tuition costs for four years of post-high-school education; and the Energy-Efficient Home Improvement Tax Credit, which grants qualifying taxpayers 10 percent of the cost of certain energy-efficient building materials ? up to a $500 lifetime credit. The Child and Dependent Care Credit, for those who have to pay someone to care for a child younger than 13, or another dependent, offers up to $3,000 for one qualifying individual, or up to $6,000 for two or more qualifying individuals.

· Deductions: Like tax credits, deductions have phase-out limits, so you may want to consult with a professional. Deductions are subtracted from your income before your taxes are calculated, which may reduce the amount of money on which you are taxed and, by extension, your eventual tax liability. Some examples include contributions made to qualifying charitable organizations. And, you may be able to write off out-of-pocket costs incurred while doing work for a charity. Others may include amounts set aside for retirement through a qualified retirement plan, such as an Individual Retirement Account; medical expenses exceeding 10 percent of your adjusted gross income are now deductible - expenses exceeding 7.5 percent are still deductible for those older than age 65; and, potentially, mortgage interest paid on a loan secured for your primary residence.

· Tax-favored investing: This involves both tax-exempt investments and tax-deferred investments. Tax-exempt investments, which include such vehicles as municipal bonds and certain money market funds, offer a way to grow your money that's exempt from federal taxes. Municipal bonds are free of federal income tax and may be free of state and local income taxes for investors who live in the area where the bond was issued. Tax-deferred investments, on which taxes are postponed until you withdraw your money, include qualified retirement plans, such as traditional IRAs and employer-sponsored plans, as well as insurance products such as annuities and, sometimes, life insurance.

About Jeff Gorton, CPA, CFP®

Jeff Gorton is a Certified Public Accountant and a Certified Financial Planner® specializing in individual tax and retirement planning. He is also an Investment Advisor Representative under Alphastar Capital Management, an SEC Registered Investment Advisor, and has a life and health insurance license. Gorton works with individuals and their families to create and protect their financial legacies. He specializes in working with retirees in the areas of tax planning, benefits, retirement planning, estate planning and safe money techniques. He received his BBA in Accounting from the University of Oklahoma. Gorton previously worked for 10 years as the Chief Financial Officer for a large retail organization, overseeing their accounting, benefits and 401(k) retirement plans.

31 Jan 2014

Celebrity Couple Celebrates 5 Years of Wedded Bliss & a 23-Year Age Difference

By Ginny Grimsley
4 Tips for Keeping Romance Alive

Award-winning singer-songwriter Gary Chapman and his wife, Nashville Wives star Cassie Piersol Chapman, say they're so in love, one wedding just wasn't enough.

"We got married Dec. 22, 2008 in a very small ceremony my father performed," says Gary, 56, a five-time Grammy-nominated, seven-time Dove Award-winning artist who recently released his first album in a decade, The Truth (www.garychapmanmusic.com).

"The next year, we had a mountaintop wedding with our friends in Breckenridge, Colo. Cassie's grandmother married us at a Renaissance fair, and last year, we tied the knot in Las Vegas. What can I say - we like getting married!"

It's just one of the ways the couple keeps the romance alive, says Cassie, 33, who stars in the new TNT show Private Lives of Nashville Wives, premiering Feb. 24.

"Weddings are a beautiful celebration of our love for each other and a reminder that this is serious!" she says. "So many people get married and they're divorced two years later. We don't plan to be among them!"

What are some of the Chapmans' other secrets for keeping their romance burning bright?

• Discover and embrace your partner's cultural perspective. Gary grew up with black-and-white TV and The Andy Griffith Show. He remembers the first time he heard The Beatles on the radio. Cassie watched Fraggle Rock and The Goonies, and played computer games on the family's Commodore 64.

"I've definitely been exposed to things I never would have experienced without Gary in my life, from music to great old movies," Cassie says.

Adds Gary: "A younger person can teach an old dog new tricks, too. I've got a window on pop culture that I would never have without Cassie. Next...she's gonna teach me to dance."

• Identify and enjoy your shared cultural experiences. Both Gary and Cassie grew up fans of Willie Nelson's music, so Gary was thrilled when he got the opportunity to introduce his wife to the country singing legend.

"He's a man who doesn't disappoint when you meet him, so Cassie was blown away. She loves him," Gary says. "I think if I weren't around, she'd marry him! We look for those shared memories - timeless Christmas music is another - because they add to the bond we have."

• Anticipate criticism -- and ignore it. "Simply put, there are going to be haters out there - a lot of people carry around stereotypes about relationships where there's a significant age difference, whether the man or the woman is older," says Cassie. "We're so happy together, it just doesn't bother us. I don't think either one of us even notices it anymore."

• Stay in shape! It's important for everyone to take care of themselves, but if you're the older partner, you owe it to the love of your life to stay fit and healthy, Gary says.

"I plan to be hiking, biking and singing - and more! -- with Cassie when I'm 100," Gary says. "So I exercise regularly and I don't abuse my body by drinking too much or eating a lot of junk. I'm careful because I love her, and that alone is a romantic thing to do."

The two also both see at least one more wedding in their future - not counting the times they quietly exchange rings and mouth "I do" while attending friends' and family weddings.

"We hope to have a real ceremony soon," Cassie says. "I want my dad to walk me down the aisle and mom to button me up."

About Gary & Cassie Piersol Chapman

Gary Chapman is a veteran musician in the contemporary pop, country, Christian and southern gospel genres. His Dove Awards include Male Vocalist of the Year and Songwriter of the Year, and he's written hits including I Prefer the Moonlight for Kenny Rogers and Finally for T.G. Sheppard along with songs for Alabama and Wynonna Judd. He was the host of TNN's hit show Prime Time Country for four years and founded the record label that launched current Disney music mainstays Everlife, among many top performers.

Cassie Piersol Chapman stars in TNT's new docudrama Private Lives of Nashville Wives (from the Real Housewives creators). She grew up on her family's West Virginia farm and was active in 4H and other agricultural activities. She also sang in a choir, modeled and became a star cheerleader in high school. She won two national cheerleading titles at Morehead State University in Kentucky. She has appeared in music videos, commercials and printed work. She works with her husband, Gary, on A Hymn a Week, a popular online devotional.

30 Jan 2014

How to Get Hired Right Out of College

By Ginny Grimsley
Entrepreneur Offers Tips on Finding Internships that Pave
the Way for Employment

With higher rates of un- or underemployment among college graduates in recent years, a national debate about the value of a college degree has gotten louder, especially as tuition continues to rise.

The slow economic recovery has hit young adults hard; in 2012, 44 percent of recent college graduates with a bachelor's degree were underemployed or working jobs that do not require an advanced degree, according to a report from the Federal Reserve Bank of New York. Other studies, including a recent one from the Center for College Affordability and Productivity, have had similar findings.

"There's no question that an advanced degree gives college graduates a tremendous leg up compared to those without one; those recent grads are working jobs non-college grads want - and graduates typically find good work soon enough. It's just a matter of how much of an advantage students demand right out of college," says Matt Stewart, an entrepreneur and spokesperson for College Works Painting, (www.collegeworks.com).

College Works Painting provides practical and life-changing business experience for college students who have shown potential for success. Interns operate their own house-painting business with hands-on guidance from mentors.

"Unemployment for our alumni is less than 4 percent; this kind of challenging yet fun student experience helps ensure a good career for college graduates right out of the gate," says Stewart, who offers tips for what students should look for in earning professional experience while still in school.

• Know what you will actually be doing. Interns tend to be eager to learn, wide-eyed and optimistic about gaining an internship somewhere. While simply being in a company's culture has some value, many businesses simply want students to do their lowest-level work. Grunt work, to some extent, is a fact of life in most professions, however, students probably aren't looking to gain experience in coffee-making or cleaning. Consider an internship that gives you real responsibility and provides experiences that will definitely come in handy in your future career.

• Consider the industry recognition of a company. While college is certainly worth the investment, it is costly and you want to get all you can out of the experience. Don't accept working for free with just any organization; think about how the name will resonate on a resume. If you can, get information on how other former interns fared at a company who would have you.

• For entrepreneurial students, real experience is crucial. If you're an artist, athlete, musician, theater major, English student or a STEM fields student, it's much easier to get real experience by simply doing what one loves. But for business majors and future entrepreneurs, getting experience often comes with a heavy price, including the loss of personal or family finances. Look for opportunities that provide guidance while allowing you to apply skills to real-life challenges such as budgeting, marketing, and managing employees.

About Matt Stewart

Matt Stewart co-founded National Services Group, which operates College Works Painting, SMJJ Investments and Empire Community Construction. Under the executive team's leadership, NSG has grown from a small Southern California business into a national leader in two industries and has been recognized as an entrepreneurial leader by Ernst & Young, the Orange County Business Journal, Inc., Entrepreneur and hundreds of other periodicals. Stewart has received a several awards, including the Excellence in Entrepreneurship Award from the Orange County Business Journal; was named "40 under 40;" and he has twice been a finalist for the Ernst & Young Entrepreneur of The Year Award.
29 Jan 2014

Tips for Indulging Your Taste Buds While on a Diet

By Ginny Grimsley

It's hard to stick to a low-calorie diet day after day to lose weight, but new research shows you don't have to, says Dr. Susie Rockway, a veteran nutritional and biochemical expert in the U.S. health industry.

"Recent studies show you can lose 10 to 30 pounds in eight weeks through alternate-day fasting," she says. "Every other day, dieters in the study ate only lunch - no breakfast or dinner - between noon and 2 p.m. The following day, they could eat whatever they wanted. Not only did they not 'gorge' as expected on the feed days, most had an easier time sticking with it."

Dieting is as much about the mind as it is about the body, and most people have a difficult time staying with any sort of very strict regimen, says Sebastien Hebbelinck, a 20-year-plus veteran of the nutraceutical industry.

In the alternate day fast studies conducted by Dr. Krista Varady of the University of Illinois at Chicago, participants on average consumed only 110 percent of their energy needs on feed days, Rockway says. Lunch on fast days was 400 to 500 calories for women and 500 to 600 calories for men.

Hebbelinck, the CEO of Apax Business Development, which produces the water-soluble fat-binding supplement Lineatabs (sold at GNC and www.lineatabs.com), offers these other suggestions for indulging your taste buds while losing weight or maintaining a healthy weight.

• Eat your bigger meals earlier in the day. Avoiding large meals at dinnertime is effective in helping to lose weight, particularly abdominal fat. In fact, another fasting study -- presented at this year's American Diabetes Association conference - showed that dieters who ate big meals at breakfast and lunch and skipped dinner lost more weight than participants who ate six small meals a day.

• Don't belly up to the buffet bar. Whether it's a cheat meal or a cheat day, throw all those studies out the window if you gorge on huge quantities of food. Eat controlled portions of healthy, nutritious foods. You can enjoy a nice lunch with a glass of wine and even a dessert, but don't go back for seconds and don't order the Decadent Chocolate-for-Four if you have no plans to share!

Rockway adds the following tips based on her nutritional and biochemical expertise.

• Include plenty of fiber and water (stay hydrated!). Unlike most nutrients in foods, we don't absorb fiber. It passes through our digestive tract, and if it's soluble fiber, it can help us feel full since it forms viscous gels. High-fiber foods include legumes, beans, avocadoes, nuts, whole fruits (versus juice), and whole-grain foods such as whole wheat spaghetti. On a cheat day, you may splurge on    a higher fat hamburger or fries, which case this is the perfect time to take a fiber-rich fat-binding supplement such as Lineatabs before the meal to help prevent some of the excess fats from being absorbed. Rockway likes Lineatabs because, unlike other fat-binding supplements, it dissolves in water and is consumed as a beverage, making the fiber soluble in the stomach and immediately available to bind to fats. It then forms a viscous fiber in the small intestines to form a barrier to reduce absorption. AND you get the fluid your body needs!!

• Healthy eating: Plan meals that are higher in lean protein and lower in simple carbohydrates. This will help you avoid a sugar spike that will leave you feeling hungry soon afterward. It also stabilizes your insulin levels, and protein foods are the most satiating.  If you are satisfied after you eat, you will be less likely to snack later. Some great high-protein choices include turkey or chicken breast, pork loin chop, tuna and salmon and whey protein shakes. Avoid foods high in simple carbs, such as syrups, soft drinks and jams.

About Dr. Susie Rockway, Ph.D., C.N.S. & Sebastien Hebbelinck: Dr. Susie Rockway, Ph.D., C.N.S., is a veteran nutritional and biochemical expert and decades-long health industry expert. Rockway has worked for multiple companies in executive capacities, including as an executive director of product development, a director of research, and a manager for science developing health and wellness products, where she communicated nutrition and new science updates to consumers. She has also designed testing strategies for clinical efficacy studies.

Sebastien Hebbelinck is an internationally recognized business entrepreneur who has been active in the nutraceutical industry for more than two decades. He is the founder and CEO of Apax Business Development, a 21-year-old company that has experienced major success in Europe with the dietary supplement Lineatabs.

28 Jan 2014

How to Maximize Your ROI of Life

By Ginny Grimsley
Physican Shares 4 Tips for Enjoying Life to the Fullest

Have you ever felt like you need an upgrade on your life? Most of us have - and there's a way to get it, says veteran physician Sanjay Jain.

"First, I tell people, 'Don't be afraid of making your life clearer.' Many argue that life is not simple and, therefore, there are no easy answers, but as we have paraphrased from Chinese philosopher Laozi, 'The journey of a thousand miles begins with the first step,' " says Jain, whose specialties include integrative medicine. He's also an international speaker and author of Optimal Living 360 - available February 2014 (www.sanjayjainmd.com).

"Lives are built from many small components which, when viewed as an assembled whole, can appear overwhelmingly complex," Jain says. "But when we break them down and consider the pieces as we make decisions in our lives, it's much easier to see how small adjustments can result in a better return on all of the investments we make - not only in health, but in relationships, finances, and all the other essential aspects of our lives."

Jain offers four points to keep in mind as you start the journey.

• Life is short, so live it to its fullest potential. Live it optimally. This is your life, so don't waste its most precious resource - time. No matter one's spiritual leanings, economic and education status, health, intelligence level, etc. - one thing is true for all: Our time on Earth is finite. There will be a time for most of us when, perhaps after a frightening diagnosis from a doctor, we reflect deeply upon our time and consider the most important moments, and all the time that may have been squandered.

• Balance is key. Too much or too little of something, no matter how good, is actually not good. Balance is one of the easiest tenets to understand, but arguably the most difficult to maintain. Obviously, too much alcohol is bad; then again, there are some health benefits to moderately imbibing red wine. What about too much of a good thing; can a mother love her children too much? Yes, if she is an overprotective "helicopter parent." The best antidote to overkill of anything is awareness; try to be aware of all measures in your life.

• Learn to tap your strengths and improve upon your weaknesses. Engaging your strengths at work and in your personal life is important. When we do what we're good at and what comes easily, we feel self-confident and satisfied. Some people, however, are not in jobs that utilize their strengths, or they don't put their talents to work at home because they're mired in the prosaic work of living. It's important to identify your strengths and find ways to engage them. It's equally important to recognize our weaknesses and work on improving them (because we can!) This is essential for achieving balance.

• Life is about making the right choices. Integrative decision-making makes this easier. There are many different types of decision-making, including systematic, hierarchal, impulsive, decisive and flexible. Integrative decision-making can be used for problems large and small, and includes the following process: 1. Define the problem. 2. Frame the problem. 3. Develop all your options. 4. Analyze your options. 5. Make the decision. 6. Execute your decision. 7. Debrief yourself. While experts may be the best consultants for compartmentalized areas of your life, only you know the other aspects that affect your well-being and can determine how a decision in one area will affect another area.

About Sanjay Jain, MD, MBA: Sanjay Jain is a U.S.-trained physician with certifications in Diagnostic Radiology, Integrative Medicine, and Healthcare Quality and Management and more than 15 years of clinical experience. He graduated from Northeastern Ohio Universities College of Medicine and The Ohio State University, where he earned a master's in business administration. This unique blend and perspective has made him a highly sought after domestic and international speaker. He remains actively involved with many medical organizations at both the local and national levels.
27 Jan 2014

Transition: the Blind Spot for Many Business Owners

By Ginny Grimsley

Handing Off Your Baby Isn't Easy - Or Simple, Experts Say

Blood, sweat and tears; late nights and weekends spent working; sacrificed vacations and family time - indeed, a CEO's feelings toward his or her business often mirror those of a parent has for a child.

Unfortunately, when it comes time to take the next step in life, the gravity of letting their baby go can prove overwhelming, say Kathleen Richardson-Mauro and Jane M. Johnson, two business owners who specialize in helping CEOs plan and execute their business ownership transitions.

"Successful business owners tend to pore over every detail in order to improve the venture; but what they often overlook is the fact that, like parents to a child, they will someday have to allow that baby to move on," says Johnson, co-author with Richardson-Mauro of a practical new guide, "Cashing Out of Your Business," and complementary website of self-help resources, Business Transition Academy (www.BusinessTransitionAcademy.com.)

"As business owners, we've both experienced difficult transitions professionally and personally," Richardson-Mauro says. "So many CEOs, rather than dealing with the reality of their business' future without them, carry on as if nothing will change." 

Richardson-Mauro and Johnson, both Certified Merger & Acquisition Advisors and Business Exit Consultants, say there are a number of measures owners can take to ensure the transition is smooth and they have what they need to be happy on the other side of it.

• Change is natural; learn to accept it with regard to your business. If you're like most owners, you have invested some or most of the best years of your life, and most of your financial resources, in your business. By now, your identity and that of the business may now actually be one and the same. Take heart: Now is the time to focus on your other passions, which may be family, traveling, catching up on reading, fitness and so much more. Consider your next act as a rebirth of you.

• Learn to count beans - outside of your business. Now is the time to take stock of the assets you've saved outside of the business and determine how much income you'll need post-transition. Then, calculate how much money you'll need to receive from the ownership transition. Most owners are not independently wealthy without their business; most need to extract money from their companies to fund the rest of their lives. The more a business profits, the more owners tend to spread the wealth to family members, or ratchet up spending in other ways. Be realistic about how you want your money to be spent in the next phase.

• Is your business transitioning "in-house"? Small businesses - those with less than 500 employees - are responsible for nearly half of the GDP and employment in the United States. Many of these are family-run enterprises; naturally, owners often want to keep it in the family, which doesn't always work out. Often, parents want to distribute evenly to their sons and daughters, even though only one was actually active in the business. Attempts to be "fair" can cause businesses to crumble, with an absentee owner trying to call the same shots as someone who's always there. Be honest about what will actually be good for the business and its employees.

About Kathleen Richardson-Mauro

Kathleen Richardson-Mauro, CFP, CBEC, CM&AA, CBI, has owned and operated five small companies and has successfully assisted more than 150 business owners in achieving their transition goals.

About Jane Johnson

Jane Johnson, CPA, CBEC, CM&AA, owned her own business, which she exited successfully in 2007. She has been providing advisory services to business owners on how to plan and execute successful ownership transitions since that time. In 2010, Jane received the Excellence in Exit Planning Achievement Award from Pinnacle Equity Solutions.

24 Jan 2014

4 Ways Anyone Can Be More Like a Marine

By Ginny Grimsley

U.S. Citizens Appreciate the Character of Those Protecting Them, Says Former Intelligence Officer

They're called "The Few. The Proud;" does that mean the many Americans who admire the U.S. Marines never hope to become more like them? Eric Wentz, a highly decorated military intelligence specialist who served his country for 26 years, says yes.

"For many, the Marines embody all that the men and women of the United States military stand for, which includes a principled lifestyle that ultimately serves to defend the democratic values espoused in our constitution, and our love for freedom," says Wentz, a former intelligence officer and author of a new Readers Choice Award-winning novel based on his experiences, "Killing Sharks: De Profundis," (www.ericwentz.com).

"There really are bad actors throughout the world who want nothing more than to see the destruction of our civilization - all that was built by our founding fathers and continued throughout the generations - to be replaced by a foreign ideology. The Marines are often the first to prevent that from happening." 

Wentz explores four defining characteristics of Marines that any American can emulate:

• An adherence to honor and integrity - Semper Fidelis: The translation of the famous Latin phrase is "always faithful" - faithful to the present mission, to fellow Marines and to the United States, no matter what. Recruits who enter into basic training undergo a transformation that lasts a lifetime. Once a Marine, always a Marine, expected to forever live by the ethics and values of the Corps: an aversion to lying, cheating and stealing; an uncompromising code of personal integrity; a love for accountability, self-reliance and discipline. Honor, courage and commitment are the bedrock of a Marine's values. Similar codes can be found throughout history, including the chivalry of Medieval knighthood and codes found among other fabled warriors, including the Spartans and Trojans.

• A commitment to physical fitness: Part and parcel to a code of values is the commitment to physical fitness. Marines are warriors who must be able to overcome all manner of physical obstacles. Sadly, for many Americans, a serious physical challenge is fitting into an airplane coach-class seat. With such a small percentage of Americans making up our military, less than 1 percent, compared to a high percentage of overweight citizens, it's easier to see why Marines are viewed with high esteem. Physical fitness is the outward reflection of the inner character demanded of these warriors.

• Willingness to sacrifice: Military members fighting in wars are routinely asked to make the ultimate sacrifice by putting one's life on the line to complete a mission. If a life isn't lost, a Marine's limbs or mental and emotional well-being may be. Sacrifice also means doing several tours in a war zone, half a world away from family, to exist in a hostile environment. Many individuals forgo a comfortable and profitable life at home in order to fight for the greater good of all Americans.

• Fear of commitment is not an option: A Marine recruit simply cannot pussy-foot his or her commitments; you cannot be a runaway bride or an uncertain, hand-wringing groom. Marines must be gung ho in the face of adversity. They are individuals of action and consequence, and there can be no debate with a superior when asked to risk one's life for the good of the mission. Luckily, civilians rarely face such demands. However, as Wentz points out, if they demonstrate such commitment to integrity in finances, health, business, civic and personal obligations, they'll also do their part in contributing to the strength and defense of the nation.

About Eric Wentz

Eric Wentz is a 26-year veteran of the U.S. Navy, having served as an intelligence officer, interrogator and linguist. He has a bachelor's degree in history and English literature, a master's degree in linguistics, and a Master of Science degree and doctorate in educational administration. He is also a certified SCUBA diver and an experienced canoeist. His novel, "Killing Sharks: De Profundis," has won the Readers Choice Book Reviews Bronze Award.

24 Jan 2014

How to Engineer Your Financial Future in 2014

By Ginny Grimsley

Veteran Investment Advisor Shares 4 Tips for All Wealth Stages

Financial resolutions can be the most difficult to keep. They can include minute detail, number crunching, plenty of files and discipline that can affect a person's entire lifestyle, says veteran investment advisor Paul Taylor, a member of the National Ethics Bureau.

"Many folks simply are not predisposed to combing through the details of their financial situation; for them, the financial world is abstract and filled with arbitrary rules, constantly changing interest rates and other complexities, but being more involved in your own money is well worth the investment," says Taylor, an architect-turned-founder and owner of Capital Advisory Group & Tax Planners of Lake Norman and Capital Investment Advisors, Inc, (www.CapitalAdvGroup.com).

"While professional help is recommended for many aspects of a person's financial affairs, it's ultimately up to the individual to understand his or her own money."

There are many things the average person can do to take control of their financial life. Taylor offers the following suggestions:

• For your cash flow, keep in mind the four A's: Accounting, Analysis, Allocation and Adjustment. The four A's describe a systematic and disciplined approach to your daily, weekly, monthly and yearly spending habits. Accounting involves gathering all your relevant financial information - income, recurring bills, and other expenditures - creating a central list of each item, and pulling it together in a place where it's easily accessible.Analysis is reviewing the information to determine whether you have a shortfall or surplus, and finding places to reduce expenses. Saving $100 a month on dining out, for instance, would allow you to apply $100 to your mortgage loan principle, saving you a substantial amount in interest payments. Allocation involves determining your financial commitments and priorities, needs versus wants, and distributing your income accordingly.Adjustment involves periodic reviews of your financial information and shifting assets to meet changing needs.

• Utilize estate planning tools such as wills and trusts; make sure the details are accurate. Wills and trusts allow you to spell out how you would like your property to be distributed, and much more. A will gives you the opportunity to nominate your executor and guardians for your minor children. If you fail to make such designations through your will, the decisions will probably be left to the courts. Bear in mind that property distributed through your will is subject to probate, which can be a time-consuming and costly process. Trusts, which are more complex, let you customize the distribution of your estate with the added advantages of property management and probate avoidance.

• Start planning your retirement sooner rather than later. There are a variety of retirement planning options that can meet your needs. Your employer funds some; you fund some. Bear in mind that, in most cases, early withdrawals before age 59½ may be subject to a 10 percent federal income tax penalty. The latest date to begin required minimum distributions is usually April 1 of the year after you turn age 70½. Withdrawals from tax-deferred plans are taxed as ordinary income. The top planning options include defined benefit pension; money purchase pension; profit-sharing plan; savings plan; employee stock ownership plan; tax-sheltered annuities; individual retirement accounts; self-employed plans; simplified employee pensions; and savings incentive match plans for employees.

• Remember the first commandment in safe investment:diversification. Virtually every investment has some type of risk associated with it. Don't put all your eggs in one basket. Diversification is one of the main reasons why mutual funds may be so attractive for both experienced and novice investors. Many non-institutional investors have a limited investment budget and may find it challenging to construct a portfolio that is sufficiently diversified. For a modest initial investment, you can purchase shares in a diversified portfolio of securities. Depending on the objectives of the fund, it may contain a variety of stocks, bonds and cash vehicles, or a combination of them.

About Paul Taylor

Paul Taylor is the founder and owner of Capital Advisory Group & Tax Planners of Lake Norman and Capital Investment Advisors, Inc. Taylor, a fully licensed investment advisor, has more than 20 years of experience in the industry and is committed to providing personalized service to those he serves. Since 2007, he has been a member of the National Ethics Bureau, which acknowledges individuals who prove they are committed to upholding the highest ethical standards in their practices.

22 Jan 2014

Relationship Health Quiz

By Ginny Grimsley

Is Your Inner Child Keeping You Trapped in a Bad Relationship?

5 Questions to Ask Yourself; The Answers May Help Set You Free

It happens when we see politicians repeatedly make the same self-destructive mistakes - think former legislator Anthony Weiner's repeated sexting scandals.

Or we hear friends complain repeatedly about the horrible job they're "stuck" in.

Or, in a rare glimmer of insight, we wonder why we're still hanging on to a "romance" that makes us miserable.

"When people seem mentally healthy and it looks like they could easily make a change that would make them happier, we're absolutely baffled by why they don't," says Steven Jay Fogel (www.StevenJayFogel.com), author of the new book Your Mind Is What Your Brain Does for a Living (March 2014).

When you're the "stuck" person, the why may seem more evident: You're scared, or you think, "If I just keep doing the right things, it will all work out."

Either way, it's likely they?and you?aren't making a conscious choice at all, Fogel says.

"We think we're making decisions based on the present, but we're usually not. We tend to operate on automatic pilot, responding to situations based on the coping strategies and thinking patterns we developed in childhood," he says.

"When those strategies are dysfunctional, we just keep repeating the same behaviors over and over again."

The good news is that we can learn to recognize that "default" thinking and rewire the brain to change it, says Fogel.

The cofounder of Westwood Financial Corp., one of the nation's leading private commercial real estate owners, Fogel draws from decades of neuroscience and mindfulness research to offer solutions.

What can you do to get yourself unstuck? Get started, he suggests, by answering these questions?in writing!

· What is causing your pain? Think about whether you're in a relationship or job that's become less and less satisfying and increasingly painful over a long period. Describe in writing the elements of the relationship or situation that are persistently causing you pain and how long you've been experiencing these problems. Knowing that there are three ways to end your suffering - accept the situation, change it, or remove yourself from it - write down the reasons you're staying even though you're suffering and what is preventing you from choosing Door 1, 2 or 3.

· How are you interpreting your partner's behavior? If you repeatedly fight about the same issues, describe the issues. Think about whether you're unconsciously investing the issue with a meaning based on your "autopilot" thinking. For instance, if you're arguing because your partner's messy and ignores your requests to be neat, are you interpreting that as disrespect toward you? Do you further interpret that disrespect as a lack of love for you? Is it possible that your partner is just not a neat person and that has nothing to do with his feelings for you?

· Do you have impulsive autopilot behaviors that are causing problems? We can often check the impulses that stem from our autopilot brain just by stopping to think before we act. Bursts of anger are one example; suppressed anger that turns into passive-aggressive behavior is another.

· Do you feel shamed or blamed by your partner's critical comments? Write down the comments accurately?as they were spoken. Then think mindfully about whether your partner was really shaming you or if you interpreted the comments in that way because of your own inner critic. If it was the former, have a conversation with the person about how you feel when this happens, and state that you'll be more open to the feedback if the criticism can be expressed objectively.

· Did you bring a myth with you into the relationship? If so, describe the myth. For example, you might have believed that you will cure everything that's wrong with the other person. Or that she will fix all of your problems. Describe how you came to believe that myth and what it would take for you to release it.

About Steven Jay Fogel: Steve Fogel is a principal and cofounder of Westwood Financial Corp., one of the largest owner-operators of retail properties in the United States. He is a licensed real estate broker and past chairman of the California Arts Council. Your Mind Is What Your Brain Does for a Living, publishing March 11, 2014, is his third book. He is also the author of My Mind Is Not Always My Friend: A Guide for How to Not Get in Your Own Way (Fresh River Press, 2010) and The Yes-I-Can Guide to Mastering Real Estate (Times Books-Random House).

22 Jan 2014

For Success in Marriage, Treat It Like a Business

By Ginny Grimsley
Counselor Offers Tips for Committing One's Life to the Right Person

As an immigrant from India who feels blessed to be an American citizen, Sukhjiwan Singh remains puzzled by the divorce rate here, estimated by PolitiFact.com in 2012 to be 40 to 50 percent.

"I come from a time and place in which arranged marriages were common practice - and there was no dating allowed. It seems to me that our society today should have more successful marriages since singles can date here and get to know their future spouse before taking the plunge," says Singh, CEO of a real estate firm, a mother of two and a happily married wife to her husband of 35 years.

Singh has extensive experience as a counselor to victims of domestic violence, which has piqued her fascination for what works, and what doesn't work, when searching for a lifelong partner.

"If you truly want to commit your life to a future husband or wife, but haven't found him or her yet, there are many things you can do to ensure a successful marriage while testing the waters via dating," say Singh, author of "Marriage and the Love Myth," (www.authorsukhsingh.com), who offers tips for committing one's life to the right person.

• Don't ignore the parallels between business and dating/marriage. Just like marriages, businesses fail all the time. Both demand your best effort and resources, including an inexhaustible amount of time, dedication and, usually, as much money as you can spare. As the fate of your business or romantic relationship goes, so goes your fate. While the experiences of both are often different, both require self-awareness, sound decision-making, and the willingness to give if they are to be successful. Of course, this means finding the right niche in business, or the right person for love...

• Follow the 80-percent rule in terms of compatibility for the "big stuff." No two people are exactly alike, so where should a single person start measuring compatibility with another? Define the "big stuff," which may mean religion, culture and ethnicity for some. Another take on big stuff could be personality traits, physical characteristics, social skills and more. Still another take could mean where two people are in life, such as profession and education. Define the big stuff; if you're compatible on about 80 percent of the list, you should strongly consider purchasing a warranty for a great relationship. In other words, getting married.

• Communication skill - the glue of a lasting relationship. While establishing a relationship, take note of the conversation. Does it flow and is it enjoyable, or do you find yourself bickering frequently? As with a business, you can have the ideal partner or employee who may look stellar on paper, but if you do not work well together, it's not good for business. The same follows for a sweetheart who may seem perfect in every other way. Make sure communication is a two-way street, and watch out for frequent sarcasm toward you, which is a sign of disrespect. You should be able to talk and listen with care, respect and proper appreciation.

About Sukhjiwan Singh: Sukhjiwan Singh is the founder and CEO of New Dimensions Realty, a real estate brokerage. Through her extensive experience as a volunteer counselor for victims of domestic violence, she has become deeply aware of the causes of divorce and its devastating impact on families. Born and raised in Punjab, India, she received a master's degree in English from Punjab University and immigrated to the United States in 1979. Since then, she has lived a happy lifestyle with her two sons and the love of her life - her husband of 35 years, Malkiat.

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