Wow, what an amazing market ride over the last few years!  Running on tracks laid by an unprecedented Federal Reserve monetary easing program, the market has once again run to new all-time highs and appears to still have some steam. Or does it?

While no one really knows the answer to this, it is important to remember history as a guide, and to think about the future -- your future.  It wasn't all that long ago that the world's financial system was shaken to its core, leaving many retirees running for shelter from the Ebola-like symptoms displayed by world financial systems.  Fear over which institution or country would next display the almost certain deadly symptoms ran rampant.

I am certainly not echoing the calls of the past and screaming it's time to get your guns and gold.  I am, however, pointing out to consumers the recent and vivid reminders of the importance to get back to the basics with your financial planning this New Year.  If we fail to remember the past, we repeat it.  You have worked too hard preparing for this time in your life.

Let's review three vital elements you should implement in your retirement plan this New Year.

•  Get your annual financial check-up. How can we possibly forget to do this?  Annual check-ups are the number one preventative care tool at our disposal.  While many individuals should be meeting more regularly with their financial advisor, everyone should have at least the minimum of an annual visit.  Problems creep up and this is often the best way to catch them before it is too late.

•  Don't forget to diversify. Are you working with a broker who always wants to sell you mutual funds full of stocks and bonds?  Does your annuity guy think every dime you have should be stuffed into insurance products?  The reality is they are probably both wrong.  Find an advisor this year who knows the benefits of each of these products, but who also knows the value of how they work together.  Diversification is important and it may include each of these products along with other assets such as individual stocks and bonds, Certificates of Deposit (structured and fixed), Business Development Companies, Real Estate Investment Trusts, precious metals, and numerous other investments.

•  Rebalance, Rebalance, Rebalance. With the great equity run up we have encountered since the lows of March 2009, it is vital to remember that we must continue to evaluate our investment portfolios.  While equity portfolios have risen significantly since that time, other areas of our portfolio may not have fared so well, leaving our risk levels in need of adjustment. It is often a good idea to capture some of those hard-earned gains.  You never know -- the next major pullback could be just around the corner.  Be prudent, not greedy!

About Carl Edwards

Carl Edwards, MBA, ChFC®, is a Chartered Financial Consultant® and is the owner of C.E. Wealth Group, (http://www.cewealth.com). He has passed the Series 7, Series 66 and Series 63 securities industry exams. In addition, he has passed the Series 24 principal exam. He represents High Street Asset Management as an Investment Adviser Representative and Calton & Associates, Inc. as a Registered Representative.  The views expressed in this article reflect the opinion of the writer and do not necessarily reflect those of Calton & Associates, Inc. or High Street Asset Management. Information contained in this article is not a recommendation, solicitation, or offer to buy or sell securities.  Opinions expressed are subject to change without notice and are not intended as investment advice or to predict future performance. Past performance does not guarantee future results.  Individuals should consult a financial professional before making investment decisions.  Edwards is also a licensed insurance agent in Life, Health, Medicare Supplement and Long Term Care insurances. Edwards received a master's degree in business administration and is currently completing a second master's degree in finance from Penn State University. He also is a member of the American MENSA.

ICAD Group's Workplace Culture Initiative Wins Economic Development Award
TEAM Centered Workplace Concept Gaining More Members

The Mid-America Economic Development Council presented its annual Economic Development awards at the 2014 Mid-America Competitiveness Conference & Site Selector Forum, held December 7-9 at the Intercontinental Hotel in Chicago, and the Iowa City Area Development (ICAD) Group Received First Place in the Business Retention and Expansion Category for their entry "Making Iowa City and Iowa's Creative Corridor a Hub for Workplace Culture."

Mark Nolte, ICAD Group's President, said this initiative stems from data collected through its annual existing industry survey.  "As we came out of the recession, we started to see a greater divide among area companies struggling for workers, losing workforce, and those who had unfavorable opinions on local workforce, versus companies that were seeing year-over-year growth," said Nolte.  "In fact, we noticed that companies that were showing high value and low risk scores were also receiving accolades as some of the "fastest growing" and "best places to work" in our region, so workplace culture became a priority."

In June of 2013, ICAD Group launched a series of workplace culture programs to help employers realize that today's workers have a choice in companies, locations and communities, and culture plays a key role.

Included in that programming were visits from Hagie Manufacturing, an agriculture implement manufacturer in Clarion, Iowa, to share their story of transformational culture and rethinking the work environment to attract talented people; promoting World Blu's "Democtratic Workplaces" certification for companies in the region (3 area companies were certified this past year); and the full-day Workplace (R)evolution conference, held this past summer in Cedar Rapids, that attracted attendees representing more than 70 companies from throughout Iowa's Creative Corridor.

Plans are in place for Workplace (R)evolution 2015 in Iowa City and a workplace culture educational series at Kirkwood Community College. Additionally, a workplace culture coalition has since formed in the region known as TEAM, a concept promoted by ICAD Group and Diversity Focus.  With TEAM, companies declare their intent to become TEAM Centered Workplaces and work toward greater internal collaboration and employee autonomy, through Trust, Enjoyment, Accountability and Managing the Whole Person.

Linda Barnes, Vice President of Organizational Agility for Geonetric, says creating a great workplace culture is critical to attracting and retaining top employees. "ICAD Group's TEAM concept brings that to life," said Barnes. "Being part of a coalition that meets monthly to share ideas and practices is invaluable as we grow our company here in the Corridor."

The TEAM Centered Workplace coalition currently consists of 24 regional employers and continues to add new members monthly.  Participating employers are in varied disciplines, from banking to educational testing, software design to advanced manufacturing, with operations/offices in all seven counties of Iowa's Creative Corridor.

"When MediRevv first learned about the TEAM initiative founded by our partners at ICAD Group, we immediately saw the value to our organization as well as the opportunity to our Creative Corridor community," added Brad Baldwin, Vice President of Operations at MediRevv.  "The ideals of the TEAM initiative are foundational to building the human capital it takes to win in our business.  While our mindset at MediRevv was already geared towards these principles, the TEAM initiative has allowed us to continue our momentum and share the ROI of our investments we experienced internally with our community partners."

Companies looking to learn more about TEAM Centered Workplaces can visit www.icadgroup.com/team.

Is it ever too late to plan for retirement? No, as long as you're willing to be thrifty and extend your working years and be mindful of your individual and employer-based retirement savings options. Building a successful, comfortable retirement depends on a variety of individual factors, including where you live, how long you plan to work, your health and your other investments and assets.

The IRS recently announced an update for your options, including cost-of-living adjustments that will give many taxpayers the advantage of putting more away during 2015. Here's a summary:

• Regular contribution limits for 401(k), 403(b), most 457 plans, and the federal employee Thrift Savings Plan. Increased from $17,500 (for tax year 2014) to $18,000 (for tax year 2015). The catch-up contribution limit for employees aged 50 in these plans is increased from $5,500 to $6,000. Contribution deadline: Dec. 31.
• Annual contribution limits, Individual Retirement Accounts (IRA). For both traditional and Roth IRAs, the annual contribution limit is not subject to a cost-of-living adjustment and remains at $5,500. The over-50 catch-up contribution amount is $1,000. There are particular restrictions (http://www.irs.gov/publications/p590/index.html) based on income levels, workplace retirement plan coverage among other issues. Contribution deadline: April 15.
• Higher 2015 income phase-out levels for traditional IRA contributions. For singles covered by a workplace retirement plan, the 2015 cutoff is now increased to a modified adjusted gross income (AGI) between $61,000 and $71,000. The IRS website details other significant increases and updates in phase-out levels for married couples and singles.
• Higher 2015 income phase-out levels for Roth IRA contributions. The IRS website also updates higher phase-out levels for married and single taxpayers on its website. For married couples filing jointly, the 2015 level is now $183,000 to $193,000.

Here's what you can do if you're in your 50s and you haven't yet saved much for retirement:

• Get qualified financial advice. Organizations such as the Association for Financial Counseling Planning and Education (http://members.afcpe.org/search), Certified Financial Planner Board of Standards list qualified financial advisors, and your state CPA society can suggest tax professionals in your area.
• Budget and downsize. Want to retire? Start living like a retiree while you're still working. Most experts believe late starters (50 and over) need to put away at least 10 percent of gross income to start making headway. Create a realistic budget, trim debt and consider cheaper housing, transportation and lifestyle options.
• Take advantage of "catch-up" contribution limits. Retirement savers over the age of 50 have the option to put more away not only in traditional and Roth IRAs but also 401(k) plans - not including SIMPLE 401(k)s, 403(b) plans, SARSEP and 457(b) plans (see Annual contribution limits, IRAs above).
• Keep working...strategically. If you're lucky, you love your work or are in a position to change careers to one with better retirement savings options. If so, consult an expert on ways to keep earning and investing effectively.

Bottom line: The government's cost-of-living adjustments will allow you to save more for retirement in 2015, but don't wait until then to evaluate your goals to set - or reset - your retirement planning going forward.

WASHINGTON, D.C. - Several Iowans, including leaders of the Iowa Biodiesel Board and Iowa Soybean Association, are in the nation's capital today drumming up support for the biodiesel tax incentive.

The National Biodiesel Board organized a Washington, D.C. Fly-in to lobby for reinstatement of the $1-per-gallon biodiesel blenders tax credit, which expired on Dec. 31, 2013. The U.S. House overwhelmingly passed a package of tax incentives retroactively for 2014 on Wednesday night that includes the credit and other deductions that would benefit farmers and Iowa's economy.

The measure now moves to the Senate. NBB officials say if the one-year package passes, any 2015 discussions will be punted to next year.

Biodiesel supporters say the fly-in couldn't have come at a better time to help ensure passage. State soybean leaders and biodiesel advocates met with their U.S. senators and representatives or key aids to explain why the biodiesel credit is needed, along with other provisions in the bill.

"We had good meetings. Everyone is supportive," said Grant Kimberley, IBB executive director. "While we were hoping for a multi-year extension, something is better than nothing. But there's still uncertainty going forward.

This is the fourth time in the last six years the credit has expired for America's Advanced Biofuel.

"Federal policy is important to compete in an established industry," he said. "Otherwise, it's hard to make investments and grow."

Kimberley, Karey Claghorn, ISA chief operating officer and T.J. Page of the Iowa Renewable Fuels Association led the Iowa delegation. Others include Bill Horan, Jeff Johannesmeyer and Denny Mauser of Western Iowa Energy and Tom Brooks of Western Dubuque Biodiesel.

Even though Iowa lawmakers support renewable fuels and agriculture, Kimberley said it's important to thank them for their support and arm them with information so they can talk to colleagues about why the credit is important. Recently elected lawmakers were sent letters on the topic, he said.

"With the uncertainty of the RFS (Renewable Fuels Standard) and low commodity prices, it's absolutely critical Congress moves forward with the extenders bill to help biodiesel continue to diversify the nation's energy supply and provide economic benefits," Kimberley said. "We do know that Iowa biodiesel plants aren't running at capacity and some have reduced staff. We're not maximizing our potential."

The Iowa Biodiesel Board is a nonpartisan state trade association representing the biodiesel industry.