Help Your Family Or Community By Helping Yourself First

At some point during their lifetime, most people wonder whether they've done enough - if they've made a positive impact, says Jeff Bucher, a financial advisor who helps working-class Americans plan their golden years.

"For most people, I think that concern increases as they get closer to retirement - they wonder what their earning years have bought for themselves and the people they care about, which may extend to their greater community," says Bucher, who, through his firm, Citizen Advisory Group, (www.citizenadvisory.com), has contributed to the local Boys & Girls Club, the Make-A-Wish Foundation and to development of an Olympic training center for wrestling at Ohio State University, his alma mater, where he earned a wrestling scholarship.

"You don't have to be super-wealthy to make a significant contribution to others. The smarter you are with the wealth you do have, however, the more of an impact you'll be able to have."

If you want to make a difference with your money, you're better off having your financial affairs in order. Bucher offers a few suggestions.

• Now is the time to design a lifetime income plan. Simply attaining a minimum figure in savings probably won't work; such figures do not account for family emergencies, inflation, etc. Social Security does not cover what it used to, and its future is uncertain at best. You need to establish a laddered, inflation-adjusted income using safe and dependable accounts that will provide a check every month. This should be informed by a plan that maps out your lifetime income needs to ensure that you do not outlive your money. For example, if you need $3,000 a month now, at a 4 percent inflation rate you will need $3,649.96 in five years. In 10 years you will need almost $4,500 per month.

• Consider holding off on retirement. Many people are understandably eager to retire as early as possible; others fear Social Security benefits will vanish, so they want to get what they can as quickly as possible - at age 62. But if you're counting on those benefits as part of your income, you should wait until you're eligible for the full amount. That's age 66 if you were born from 1943 to 1954, and age 67 if you were born in 1960 and later. If you're in the older group, retiring at 62 cuts your benefits by a quarter; for the younger group it's nearly a third. "Chances are, you'll be better off mentally and physically if you wait anyway," Bucher says. "Many studies show that people live longer and are more vital the longer they remain employed."

• Know when to transfer investments out of tax-deferred plans. If you're working for a company that provides a match for 401k contributions, by all means, contribute up to the maximum match. "That's free money - you'd be crazy not to take advantage," Bucher says. But anything beyond that should be invested in something that's more tax efficient: Roth IRA, municipal bonds, life insurance or real estate. No one expects taxes will go down - they'll be going up. Uncle Sam already has a lien on your IRA or 401(k); don't let his lien, the taxes you'll owe, continue to grow. Go ahead and pay now. Your future retired self will be glad you did.

About Jeff Bucher

Jeff Bucher is president of Citizen Advisory Group (www.citizenadvisory.com), and is an Investment Advisor Representative of AlphaStar Capital Management, an SEC Registered Investment Advisor. He has a life and health insurance license with the state of Ohio. His membership affiliations include the exclusive Ed Slott's Master Elite IRA Advisor Group™, National Association of Insurance and Financial Advisors (NAIFA), the National Association of Fixed Annuities (NAFA) and the Forum 400. He has earned Top of the Table honors through the Million Dollar Round Table (MDRT). Bucher is a former standout wrestler at The Ohio State University, where he earned an athletic scholarship and honed his leadership skills en route to earning four varsity letters.

A Change In Thinking Can Lead To A Change In 
Behavior And Results, Says Sought-After Speaker

Hard times that sap your energy and leave you frustrated are an inevitable part of life.

Maybe you lost a job. Maybe your finances took a turn for the worse. Maybe your personal life is in disarray or a health problem emerged forcing a lifestyle change.

Such setbacks can leave people feeling afraid, uncertain, angry or unsatisfied, says Darlene Hunter, a renowned speaker and author of "Win-Ability, Navigating through Life's Challenges with a Winning Attitude," (www.darlenehunter.com).

Overcoming those emotions, she says, comes down to a person's mindset and perspective.

"Your attitude is a critical factor that can either hold you back or help you move forward," Hunter says. "Everyone needs to take the time to do a pulse check on where they are in their thinking. Is it positive or negative?"

A positive attitude comes easily when life is rosy. The real trick is persevering when things go awry so you can continue to strive toward your goals.

"The important thing to remember is that we cannot give up just because things do not work out the way we want," Hunter says. "We must be persistent and press our way through to the end."
Hunter offers five tips that can help change your thinking, which in turn will change your behavior and, ultimately, change your results.

•  Be a planner. To live your dream, you need to know what you want and have a plan for getting there. "Planning your day, week and month are critical ingredients to living your dream and purpose," Hunter says. The "how" and "why" elements are important factors in planning, as they guide you in the direction you want to go.

•  Be goal oriented. Once you set goals, the next step is to work on completing them. That's why it's important to set goals you can accomplish. Each time you can check a goal off your list, you are one step closer to what you ultimately want to achieve. "The sense of accomplishment that comes from reaching even the smallest goals will help you keep moving and striving to get your desired end," Hunter says.

•  Be driven for results. When you are driven, Hunter says, you have a compulsive and urgent desire to accomplish what you are seeking, whether it's a bonus, a promotion, additional knowledge in a particular area or some other goal. The important factor is to always know what you are seeking. Results-driven people focus on meeting objectives and delivering on the goals they set.

•  Have a winning attitude. You must be determined, dedicated and devoted to succeed. "You should never give up on your goals and dreams simply because something goes wrong or you are not getting where you hoped to be fast enough," Hunter says.

•  Be focused. When you are focused, you have a clear perception and understanding of what you want to accomplish and where you need to go to get there. "Think about long-distance runners who will run a 26-mile marathon," Hunter says. "They find their pace and then they stay with it. They may get weary and tired, but they find their zone and stay focused and concentrate on what is needed to get to the end."

"Plenty of stories can be told about people who failed in the beginning, but made it to the top of their profession because they did not give up after being told they weren't good enough," Hunter says.
"The ability to keep trying and pushing no matter how many failures or obstacles you hit is the power of perseverance and is what 'Win-Ability' is all about."

About Darlene Hunter

Darlene Hunter, (www.darlenehunter.com), is president of Darlene Hunter & Associates, LLC, a motivational / inspirational speaker, author, life and business coach, and award-winning radio talk show host. Her new book, "Win-Ability, Navigating through Life's Challenges with a Winning Attitude," is her fourth on the theme of perseverance. She is the host of "The Darlene Hunter Show", winner of the Fishbowl Radio Network 2013 Distance Show Of The Year Award. Hunter has been a top performer in management for more than 30 years.

Numerous studies have revealed that African-American students are more likely than their white peers to face referrals to the office, suspension, expulsion or other forms of discipline at school.

But it doesn't have to be that way, says Renae Azziz, founder and director of Virtuoso Education Consulting (www.virtuosoed.com), which provides professional development training to teachers and school district leaders.

Azziz, a school psychologist who helps districts across the nation resolve disproportionality in discipline, says in many cases it's a clash of cultures, and not necessarily racism, that leads to disproportionate punishment for minority students.

"Teachers need to understand that sometimes what they see as misbehavior is not viewed the same way by African-American students," Azziz says. "It's just that in these cases the educators come from different cultures than their students. The teachers need to increase their knowledge about those differences and improve their skills for handling the situations."

Azziz says there are a number of promising strategies schools can and are using to reduce disproportionality in discipline.

• Develop supportive relationships among and within school staff and students through the implementation of restorative-justice frameworks, which use conflict resolution and open dialogue. Restorative justice focuses students on the ramifications of their actions so that they take ownership of those actions and learn from their poor decisions.

• Engage in culturally relevant and responsive instructions and interactions to make the curriculum engaging for all learners.

• Change disciplinary codes of conduct to align with positive school climates through the implementation of Positive Behavioral Interventions and Supports (PBIS) that are culturally responsive.

• Commit to ongoing professional development for teachers focused on developing their awareness, knowledge and skills related to culture.

African-American students often have more negative views of their schools than white students because they perceive them as being less fair and consistent with discipline. That this perception exists, Azziz says, reinforces the idea that educators need to be culturally responsive so that the school environment meets the needs of students from all cultural backgrounds.

It's not that schools have failed to make an effort to address problems with discipline. For two decades, the method known as Positive Behavioral Interventions and Supports has been implemented across the nation as a way to decrease suspensions and expulsions, Azziz says.

That worked - sort of, she says.

Data indicates PBIS does indeed reduce the overall rates for those disciplinary actions, but there's a caveat.  Minority students, especially African Americans, still receive the majority of the punishments.

"That tells me that PBIS is not as effective for African-American students as it is for other ethnic groups," Azziz says. "So why is that?"
The answer may lie in those cultural differences, she says.

Here's an example: Teachers who expect students to raise their hands before responding in class often send African-American students to the office for repeatedly talking out.

But many of those students see classroom discussions as more informal, Azziz says.

"Some students, particularly African-American students, show that they are listening and engaged by blurting out their thoughts instead of raising their hands," Azziz says. "This is a communication-response style called back-channeling and it's often seen in the African-American culture."

Teachers who understand that back-channeling is a cultural pattern of behavior can better teach the students when that behavior is appropriate in the classroom and when they need to raise their hands, she says.

"When teachers don't know about this communications style," Azziz says, "all they see is a student who disrupted their class and it becomes a top reason for discipline referrals."

About Renae Azziz

Renae Azziz is the Founder and Director of Virtuoso Education Consulting (www.virtuosoed.com). She and her team of consultants support educators nationally in the areas of Response-to-Intervention, Data-Based Decision Making, Assessment, Positive Behavior Support, and Culturally Responsive Practices. Before starting Virtuoso Education Consulting, Renae practiced as a school psychologist in Indiana. Renae also worked on grants funded by the Indiana Department of Education supporting Indiana's Initiatives on Response to Intervention, Culturally Responsive PBIS, and Minority Disproportionality in Special Education. She was also appointed by former Indiana Gov. Mitch Daniels to the Commission on Disproportionality in Youth Services, which resulted in several legislative outcomes. Further, Renae and her team of consultants have served as project evaluators for statewide initiatives and Corrective Action Plans in Indiana and Louisiana.

Renae received her educational training at Indiana University earning an Ed.S. in School Psychology, an M.S. in Educational Psychology, and a B.A. with honors in Psychology and is working towards completion of her Doctorate in Education at The Johns Hopkins University specializing in Entrepreneurial Leadership in Education.

While women continue to make impressive strides in academics, in the business world and with buying power in general, a significant percentage are vulnerable to retail therapy and other modes of frivolous spending, says Erica L. McCain, a veteran financial expert, LUTCF and founder of McCain & Associates, (www.mccainins.com).

According to a recent study from Prudential - the eighth biennial of its kind - women report they are no more prepared to make sound financial decisions today than women in the study were two years ago and 10 years ago.

"Women love buying nice things not only for themselves, but also for their children and other loved ones," McCain says. "As I've experienced in my years of assisting clients, and in my own life, you're likely to kick yourself down the road when you realize $200 would've been better spent for retirement, rather than at the salon."

McCain, author of "Ladies With Loot," reviews why women may be better off taking the scissors to their credit cards.

•  You'll want financial independence for your golden years. As the Prudential study indicated, 75 percent of women say that maintaining their current lifestyle is very important, yet only 14 percent reported they were confident they could make that happen.

"Most of us seem to be living in parallel realities, which is a dangerous long-term plan," she says. "A good rule of thumb is that you need seven times your annual salary to fund your retirement. If you make $50,000 a year, your retirement savings should be a minimum of $350,000,000."

•  Rare opportunities for your children come with a price tag. Being short of necessary funds for a child's rare opportunity may come as a surprise to some women. A woman in her 30s may be accustomed to a lifestyle supported by two strong incomes, but in the event of a divorce, most women should prepare themselves for a financial reality check.

"Err on the safe side of your finances," McCain says. "If you're enjoying a lifestyle of liberal spending because of a great income, realize much of that stream can drastically slow due to an unforeseen life event."

•  Emergencies quickly follow with the need for funding. One of the defining characteristics of life is its unpredictability. A careless driver could total your car; medical emergencies are often expensive, even with insurance; you may need to hire an attorney for a number of reasons; and the list goes on.

"Life is scary, but less so when you have adequate funds to deal with an emergency," McCain says.

•  Time can be on a woman's side. Women are uniquely pressured to maintain an image of beauty throughout their lives. With age comes added pressure to look good, so more money may be spent on hair coloring, haircuts, Mani-Pedi treatments and Botox injections. It all adds up.

"When it comes to saving money, time absolutely can work for us," McCain says. "The more you save and longer you save it, the more asset building you can do. Instead of fighting time, why not use it to your advantage?"

About Erica L. McCain, LUTCF

Erica L. McCain is a financial professional with a Life Underwriter Training Council Fellow (LUTCF) designation and more than 16 years of experience. She founded her own firm, McCain & Associates (www.mccainins.com), in 2007, intent upon providing the detailed, personalized services retirees and pre-retirees need to pursue their retirement goals. She specializes in the financials for women in all stages of their lives and careers. McCain is a member of the Million Dollar Round Table (MDRT), the premier association of financial professionals.