tag:blogger.com,1999:blog-91249731600585213782024-03-21T01:42:02.137-07:00Know Thy PeopleHelping you with money management and general information to keep us in the know.Rodney Gilberthttp://www.blogger.com/profile/07522229222382538286noreply@blogger.comBlogger29125tag:blogger.com,1999:blog-9124973160058521378.post-67064940665546171372011-05-12T06:53:00.000-07:002011-05-13T13:25:39.642-07:00Protect Your Heirs – Tax Free Wealth Transfer<div class="separator" style="clear: both; text-align: center;"><a href="http://www.givingventures.org/wp-content/uploads/2010/08/GoldNestEgg.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="212" src="http://www.givingventures.org/wp-content/uploads/2010/08/GoldNestEgg.jpg" width="320" /></a></div><b>Wealth Transfer – What is The Best Method?</b><br />
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First, the bad news: Life insurance premiums (subject to few exceptions) are not deductible. The good news: Depending on your age and health, a small amount of premium can multiply your after-tax wealth. Why?… because life insurance, courtesy of the Internal Revenue Code, puts you in a tax-free environment: during your life, at your death and beyond. <br />
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<a href="http://www.unitedlifefinancial.net/">Single Premium Whole Life Insurance</a> plans can simplify wealth transfer to the next generation and provide living values during the owner’s lifetime. We offer several plans that provide early cash withdrawal options, benefits for long term care, withdrawals for terminal illness and confined care.<br />
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This form of life insurance requires a single large upfront payment. But, it offers a steady rate of return with a guaranteed minimum face value on the policy. Some policies offer a fixed rate return while others offer other investment options. The fixed rate of return is usually lower than the final value of policies using the investment options. But, it offers a steady rate of return with a guaranteed minimum face value on the policy.<br />
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<b>How common is this type of life insurance?</b><br />
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Actually, it is very uncommon. It is one of the rarest forms of life insurance issued in the insurance market. One reason for this is because many people do not know of its existence.<br />
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This is mainly due to the fact that it requires a large upfront payment. If someone has that type of money, the customer may not have interest in an investment with a low rate of return. However, it offers a steady investment that some may find appealing.<br />
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<b>What is a major benefit of this of insurance?</b><br />
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It provides a tax-deferred method of passing on an inheritance.<br />
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Single premium life insurance is actually a good tax shelter. It offers a tax deferred investment where money can build up. There are no penalties related to the money when it pays upon the demise of the named insured. The only time taxes become an issue is if the policyholder makes a loan or partial withdrawal on the policy, this is an excellent option.<br />
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<b>Single premium life insurance can help the policyholder.</b><br />
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Some policies allow withdrawals to pay for long-term care insurance. Others offer withdrawals related to caring for the named insured if that person is diagnosed with a terminal illness expected to take life within one year. The amount of money paid upon the death of the named insured will vary depending on the age of that person and the amount invested at the beginning of the policy. Others offer withdrawals related to caring for the named insured if that person is diagnosed with a terminal illness expected to take life within one year policy.<br />
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The form of single premium life is single premium whole life insurance. This option comes with a guaranteed return rate each year the policy remains active. The amount may be low each year, but it compounds and can become substantial over a number of years. The biggest benefit of this type of policy is that it provides a minimum amount of return on the amount invested. The risk of the investment falls with the insurance company instead of the named insured’s beneficiaries.<br />
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To determine the best coverage for you, talk with a <a href="http://www.unitedlifefinancial.net/">Life Insurance specialist</a> at (888) 583-5070.<br />
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Rodney Gilbert, CLTC, is a Registered Financial Representative and CEO of United Life Financial LLC and lifehealthplans.com. Rodney has been assisting his clients achieve their financial objectives since 2007. He holds Series 6 and Series 63 licenses and the Certification in Long Term Care (CLTC) Designation. Rodney is also an avid speaker to those who want to learn more about tax planning with IRAs. For additional information, visit unitedlifefinancial.net and lifehealthplans.com for life and health insurance quotes. Remember, this blog is for information only and is not an offer to sell or invest in securities. Please refer to all appropriate prospectuses prior to any investment. Investments can, and do, lose money.Rodney Gilberthttp://www.blogger.com/profile/07522229222382538286noreply@blogger.com0tag:blogger.com,1999:blog-9124973160058521378.post-26989188223350518342011-05-11T07:13:00.000-07:002011-05-11T07:15:05.496-07:00If you are open to Networking you Must Join the Largest<div class="separator" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em; text-align: center;"><a href="http://www.toplinked.com/a/?a=111551"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh36cYziWFyxx5Zg8aUrLuDzlBCy8M5g-00kJM8bX7dQeBxEe15qU4BPGfxiyl5rIwfPEs1BMPG7Bl0zEQ7AVhHWzZMKe_O85ngQOtMS4r2tja0zNMeMsWyklcrJwMOSVtLplRexQVfrw/s1600/Top_logo.jpg" /></a></div><br />
You don't have to purposely become a networker to reap the benefits of social capital -- otherwise known as the value behind your social contacts. As long as you take as much care in raising and investing your social capital as you do your financial capital, you'll find that the benefits that flow from these intangible investments will multiply your material returns many times over.<br />
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With that said, I would like to introduce the Top Networking tool to date for professionals seeking to expand or grow their personal or professional networks.<br />
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TopLinked.com is THE secret of how to build larger, more diverse, and more valuable networks on the world's top social networking sites. Through a shared backend database with their sister site <a href="http://www.toplinked.com/a/?a=111551">OpenNetworker.com</a>, you get the combined benefit of both services (when you join TopLinked.com, it is the same as joining OpenNetworker.com)<br />
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Since 2006, they have helped over 100,000 people accelerate the growth of their networks and opportunities. People who are part of TopLinked.com are people like you - people who know the incredible value of being open to new opportunities and new connections.<br />
They are some of the world's most helpful and connected people.<br />
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TopLinked.com is THE quick and easy way to get connected with them on any (or all!) of these sites: LinkedIn, Facebook, Twitter, MySpace, Ecademy, Xing, Bebo, Blue Chip Expert, Fast Pitch, Friendster, hi5, Konnects, Affluence.org, Naymz, Orkut, Perfect Networker, Plaxo, Ryze, Tagged, UNYK and Viadeo.<br />
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<div class="separator" style="clear: both; text-align: center;"></div><div class="separator" style="clear: both; text-align: center;"><a href="http://www.toplinked.com/a/?a=111551"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh7tvNj2Qnl_jUPHOlOlrCvoXbbjFajQzGqiSub7iJzDtPjPt1K9skYfARV6nWnVCk9zcAcFD9AWDlpfSM-2zVQ_3UpQY5DmmhdVu3Vm_HIgtW5sgtB-VZwXizOKrAxNR4GbstBCNCYew/s1600/join.jpg" /></a></div><br />
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<span style="font-size: x-small;"><b>Rodney Gilbert, CLTC, is a Registered Financial Representative and CEO of <a href="http://unitedlifefinancial.net/">United Life Financial LLC</a> and <a href="http://lifehealthplans.com/">lifehealthplans.com</a>. Rodney has been assisting his clients achieve their financial objectives since 2007. He holds Series 6 and Series 63 licenses and the Certification in Long Term Care (CLTC) Designation. Rodney is also an avid speaker to those who want to learn more about tax planning with IRAs. For additional information, visit <a href="http://unitedlifefinancial.net/">unitedlifefinancial.net</a> and <a href="http://lifehealthplans.com/">lifehealthplans.com</a> for life and health insurance quotes. Remember, this blog is for information only and is not an offer to sell or invest in securities.</b> <i>Please refer to all appropriate prospectuses prior to any investment. Investments can, and do, lose money.</i></span>Rodney Gilberthttp://www.blogger.com/profile/07522229222382538286noreply@blogger.com0tag:blogger.com,1999:blog-9124973160058521378.post-27265282778624797012010-06-23T04:17:00.000-07:002010-06-23T04:17:15.757-07:00Is the US Thinking about raising their retirement age?Americans are living and working longer, and Alice Rivlin, a member of President Obama’s National Commission on Fiscal Responsibility and Reform, told CNBC it is time the Social Security retirement age reflects this fact of life.<br />
<div class="separator" style="clear: both; text-align: center;"><a href="http://chattahbox.com/images/2009/10/retirement.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" height="264" src="http://chattahbox.com/images/2009/10/retirement.jpg" width="320" /></a></div><br />
“(The) commitments to older people are driving federal spending up faster than the economy is growing and faster than taxes are growing,” said Rivlin, a former vice chair of the Federal Reserve Board (1996-1999) and director of the White House Office of Management and Budget (1994-1996). Rivlin, also, said raising the <a href="http://www.ssa.gov/">Social Security</a> retirement age and changing the way benefits are calculated would help put the agency on a sound footing. “I think it would send a message to our creditors around the world that we’re serious about making long-term change,” she said.<br />
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</div><div class="textBodyBlack"><span id="byLine"></span>Rivlin also recommended revamping income taxes, which she called “complicated” and “unfair.”</div><div class="textBodyBlack"><span id="byLine"></span>“We could make the tax much simpler, get rid of a lot of exclusions and reductions that are special favors to people and keep rates where they are or lower them and raise more revenue,” she explained.</div><div class="textBodyBlack"><br />
</div><div class="textBodyBlack">It's really not that far fetched if you think about it. Many nations across the globe have already taken the steps to battle the baby boom phenomenon that will take a rising toll on countries as the few begin to start taking care of the many. The French just raised their retirement age from 60 to 62 this year:<a href="http://news.bbc.co.uk/2/hi/business/10326002.stm">http://news.bbc.co.uk/2/hi/business/10326002.stm.</a>as well as Taiwan.</div><div class="textBodyBlack"><br />
</div><div class="textBodyBlack" style="background-color: white;"></div><div class="textBodyBlack">The United States Social Security site states the previous increase to 67 years of age for people born after 1938: <a href="http://ssa.gov/pubs/ageincrease.htm">http://ssa.gov/pubs/ageincrease.htm</a> but for now, <span style="background-color: white; font-family: inherit; font-size: small;"><a href="http://www.fiscalcommission.gov/"><b>The National Commission on Fiscal Responsibility and Reform</b></a></span> has been tasked with proposing recommendations designed to balance the budget by 2015 and helping put the country on a path to fiscal sustainability over the long run. Its recommendations will not be forced upon Congress, but Rivlin expects the commission’s recommendations will come up in Congress for a vote.</div><br />
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Rodney Gilbert, CLTC, is a Registered Financial Representative and CEO of United Life Financial LLC and <a href="http://lifehealthplans.com./">lifehealthplans.com.</a> Rodney has been assisting his clients achieve their financial objectives since 2007. He holds Series 6 and Series 63 licenses and the Certification in Long Term Care (CLTC) Designation.<br />
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Rodney is also an avid speaker to those who want to learn more about tax planning with IRAs. For additional information, visit <a href="http://unitedlifefinancial.net/">unitedlifefinancial.net</a> and <a href="http://lifehealthplans.com/">lifehealthplans.com</a> for life and health insurance quotes. Remember, this blog is for information only and is not an offer to sell or invest in securities. Please refer to all appropriate prospectuses prior to any investment. Investments can, and do, lose money.Rodney Gilberthttp://www.blogger.com/profile/07522229222382538286noreply@blogger.com0tag:blogger.com,1999:blog-9124973160058521378.post-32544403721366576882010-06-22T05:15:00.000-07:002010-06-22T05:23:06.015-07:00Saving Grace Canceled due to lack of funds?<div class="separator" style="clear: both; text-align: center;"><a href="http://www.recapist.com/files/images/Saving%20grace%20204.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="320" src="http://www.recapist.com/files/images/Saving%20grace%20204.jpg" width="213" /></a></div>The news of Saving Grace canceled has hit the series fans quite hard. I never watched the show, but my mother would get off of the phone when the show was on. As the show producers have announced that their will be no Holly Hunter as well as the fourth season of the famous show, everybody is buzzing around about the Saving Grace canceled news and possibly not really taking into consideration how financially strapped advertisers and eventually studios are due to the turn down.<br />
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Well, shows usually get canceled due to either financial reasons or low ratings so which one do you think prevailed here? Well, by no means can we say that the Saving Grace canceled news is anything about the ratings of the show actually going down, because even non-followers understand the impact it had on our friends and family. So then there is just one thing that the producers actually mean about by the Saving Grace cancelled announcement and that is the non availability of funds to produce further seasons of the show or the revenue is not that high from the show.<br />
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<div style="float: right;"><script type="text/javascript">
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</script> </div>Well, it looks like the financial constraints are the ones that are actually making the cancellation of the show possible. If you don't think the economic slowdown is having any effect on your life, please pay attention to what's going on around us. I have friends in government positions that felt there was no way that their lives could be affected. Some of them are unemployed teachers right now.<br />
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All in all, our saving grace if our jobs were canceled would be our savings and investments. Let's use this present trend to take stock of our assets and make sure they are being utilized to our best benefit through financial reviews. You don't have to hire someone unless you don't know what you are doing. It took me three weeks to fix a broken pipe underneath my sink once........until I explained my situation to a friend one day and he came and fixed it within an hour. Well, I'm no plumber, but at least when I have questions I know who to call. Do you?<br />
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<div class="separator" style="clear: both; text-align: center;"></div>Love you Ma. ..............Talk to you soon!<br />
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Rodney Gilbert, CLTC, is a Registered Financial Representative and CEO of United Life Financial LLC and lifehealthplans.com. Rodney has been assisting his clients achieve their financial objectives since 2007. He holds Series 6 and Series 63 licenses and the Certification in Long Term Care (CLTC) Designation.<br />
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Rodney is also an avid speaker to those who want to learn more about tax planning with IRAs. For additional information, visit unitedlifefinancial.net and lifehealthplans.com for life and health insurance quotes.<br />
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Remember, this blog is for information only and is not an offer to sell or invest in securities. Please refer to all appropriate prospectuses prior to any investment. Investments can, and do, lose money.Rodney Gilberthttp://www.blogger.com/profile/07522229222382538286noreply@blogger.com0tag:blogger.com,1999:blog-9124973160058521378.post-30464923077270915552010-06-21T05:55:00.000-07:002010-06-21T05:55:57.788-07:00Can Prayer Improve our Health?<div class="separator" style="clear: both; text-align: center;"><a href="http://gregorylarson.files.wordpress.com/2009/10/2009-10-prayer.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" height="240" src="http://gregorylarson.files.wordpress.com/2009/10/2009-10-prayer.jpg" width="320" /></a></div>They say communicating with God can improve one's physical health. Australian researchers have suggested this in a report showing that religious or spiritual prayer can boost emotional and physical well being.<br />
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<b>"As a devout Catholic, I experience the power of prayer every day," says David Beato, author of the new book The Power of Prayer, Endurance and Truth. "It helps me to conduct my personal and business lives in a less stressful and more positive way."</b><br />
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Mr. Beato's book describes how religion has shaped his life from his difficult childhood in Italy during World War II to his struggle to make it as a successful businessman in America. Along the way Mr. Beato faced many monumental tests of faith, including the death of his beloved son, professional setbacks and deceptive family members who tried to ruin him.<br />
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The Australian scientists believe that the psychological benefits of praying include a reduction of stress and the promotion of a more positive and stronger outlook on life. A number of medical studies show that prayer can help to:<br />
• Lower blood pressure.<br />
• Reduce anxiety and improve sleep.<br />
• Decrease depression.<br />
• Reduce cholesterol and atherosclerosis, which leads to heart attacks and strokes.<br />
• Promote faster recovery from surgeries.<br />
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<b>"I believe the power of prayer will never go out of style," says Mr. Beato. "In fact, for better emotional and physical health, people should definitely consider incorporating prayer into their everyday lives."</b><br />
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The Power of Prayer, Endurance and Truth by David Beato is available on Amazon.com and BarnesandNoble.com.<br />
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<b>What do you think? </b><br />
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Rodney Gilbert, CLTC, is a Registered Financial Representative and CEO of United Life Financial LLC and lifehealthplans.com. Rodney has been assisting his clients achieve their financial objectives since 2007. He holds Series 6 and Series 63 licenses and the Certification in Long Term Care (CLTC) Designation. Rodney is also an avid speaker to those who want to learn more about tax planning with IRAs. <br />
<br />
For additional information, visit <a href="http://www.unitedlifefinancial.net/">http://www.unitedlifefinancial.net/</a> and <a href="http://www.lifehealthplans.com/">lifehealthplans.com</a> for life and health insurance quotes.<br />
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Remember, this blog is for information only and is not an offer to sell or invest in securities. Please refer to all appropriate prospectuses prior to any investment. Investments can, and do, lose money.Rodney Gilberthttp://www.blogger.com/profile/07522229222382538286noreply@blogger.com0tag:blogger.com,1999:blog-9124973160058521378.post-36207022789659788992010-06-05T08:12:00.000-07:002010-06-05T08:12:27.282-07:00John Wooden Dead at 99<b>I am kind of reeling from this news. On a day when I had absolutely nothing to say, I am prompted to share some excerpts from other more famous people speaking on his passing.</b><br />
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Taken from <a href="http://www.newsvine.com/_news/2010/06/04/4465563-reaction-to-john-woodens-death?category=sports">http://www.newsvine.com/_news/2010/06/04/4465563-reaction-to-john-woodens-death?category=sports</a><br />
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"It's kind of hard to talk about Coach Wooden simply, because he was a complex man. But he taught in a very simple way. He just used sports as a means to teach us how to apply ourselves to any situation.<br />
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"He set quite an example. He was more like a parent than a coach. He really was a very selfless and giving human being, but he was a disciplinarian. We learned all about those aspects of life that most kids want to skip over. He wouldn't let us do that." — Kareem Abdul-Jabbar.<br />
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"Coach Wooden was more than a Hall of Fame basketball player and coach; he was an incredible man whose dedication and leadership on the court inspired generations of Californians. He meant so much to Los Angeles, California and the entire basketball community around the world. Maria and I extend our thoughts and prayers to his loved ones as they remember the extraordinary life of this coaching legend." — Calif. Gov. Arnold Schwarzenegger.<br />
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"He was always the boss. He always knew what to say. Even in the heyday of winning and losing, you could almost discuss anything with him. He always had that composure and wit about him. He could connect with all kind of people and situations and always be in control of himself and seemingly of the situation." — former UCLA star Jamaal Wilkes.<br />
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"Today, we've lost a giant in all of sport with the passing of Coach Wooden. Quite likely, his accomplishments as a college basketball coach will never be matched. Neither will the impact he had on his players or the greater basketball community. Many have called Coach Wooden the 'gold standard' of coaches. I believe he was the 'gold standard' of people and carried himself with uncommon grace, dignity and humility. Coach Wooden's name is synonymous with excellence, and deservedly so. He was one of the great leaders - in any profession - of his generation. We are blessed that the sport of basketball benefitted from his talents for so long. Coach Wooden and his wisdom will be sorely missed." — Duke coach Mike Krzyzewski.<br />
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"My reaction is sadness yet at this point we have to celebrate maybe the most important guy in the history of the game. There has been no greater influence on college basketball not just about the game but the team. He's greatest coach in college basketball if not all basketball from the standpoint of all of us trying to emulate what he's done. He gave so much to basketball and education. In my opinion if he's not as important as Dr. Naismith, he's right next to him." — Connecticut coach Jim Calhoun.<br />
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"He seemed to touch the inner soul of people when he was around them. He seemed to do it with so much grace and good will. When he was exalted to the highest, he still remained the man who grew up in rural Indiana and had that Midwestern friendliness, openness, that willingness to see the good in people.<br />
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"Everybody knew John Wooden, and everybody knew him in a loving manner. I don't know anybody who ever had anything ill to say about the man, and that's remarkable considering how many people he came into contact with. We lost a great man." — Bobby Plump, the former Butler star and "Hoosiers" inspiration.<br />
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"I have met Coach Wooden, about four years ago at the Final Four when it was here and it was a tremendous honor. He gave me one of his pyramid of success cards that I still have today and got a picture with him, and it was a tremendous honor." — Indianapolis Colts quarterback Peyton Manning.<br />
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"When I think of a basketball coach the only one I ever thought of was Coach Wooden. He had a great life and helped so many coaches until well in his 90s. Every time I talked to him he would give me some words of advice. He's the best of all time. There will never be another like him and you can't say that about too many people. It's a sad day but he had such an unbelievable run. I can't tell you what he's done for game of basketball and it's not just the wins. It's the attitude and the way he carried himself. I just can't say enough about him." — Syracuse coach Jim Boeheim.<br />
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"I always sat and chatted with him before our games at UCLA and about five years ago he asked, `Can I come out and watch one of your practices?' ... We had a jet pick him up at Van Nuys Airport, just a few minutes from where he lived, and bring him (to Tucson). We had lunch and I asked if he could say a few words to the team. He said yes and spoke for 20 or 30 minutes. He never said a word about basketball, just talked about his philosophy of life and being the best that you could be.<br />
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"He has been anxious to be reunited with Nell for a lot of years, so this is not a sad experience for him I don't believe. I don't think there is anyone who had influenced the number of people in his life than he had." — former Arizona coach Lute Olson.<br />
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"This loss will be felt by individuals from all parts of society. He was not only the greatest coach in the history of any sport but he was an exceptional individual that transcended the sporting world. His enduring legacy as a role model is one we should all strive to emulate." — UCLA athletic director Dan Guerrero.<br />
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"This is a sad day at UCLA. Coach Wooden's legacy transcends athletics; what he did was produce leaders. But his influence has reached far beyond our campus and even our community. Through his work and his life, he imparted his phenomenal understanding of leadership and his unwavering sense of integrity to so many people. His 'Pyramid of Success' hangs in my office to remind me every day of what it takes to be an effective leader. He was truly a legend in his own time, and he will be a legend for generations to come." — UCLA chancellor Gene Block.<br />
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"All of us at Purdue, past and present, are immensely saddened by the death of John Wooden, and we send our deepest regrets to his loved ones and friends. Coach Wooden has been a member of the Purdue family since he studied and played here 80 years ago. He lived a life of true leadership, steady and amazing excellence, and unfailing kindness to others. There was no one like Coach Wooden. He leaves a lasting imprint." — Purdue president France A. Cordova.<br />
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"You need not be a sports fan to mourn the passing of John Wooden. Coach Wooden took the self-sacrifice and teamwork required to be successful in basketball and modeled them into a paradigm for life. Through basketball, he taught generations of players and fans the values of love, friendship, responsibility and humility. `Make friendship a true art' and `Give thanks for your blessings and ask for guidance every day' were among his favorite maxims. I give thanks to God for the life and wisdom of John Wooden. May his soul, and all the souls of the faithful departed, rest in peace." — Cardinal Roger Mahony of the Archdiocese of Los Angeles.<br />
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"Even though we anticipated this day, the finality still strikes with a force equal to ton of bricks. There was the common affinity we shared for Purdue and UCLA and that forged a unique bond. My folks, Gene Keady, Pete Newell and Coach Wooden were the most influential people in my life. I turned to him for perspective at every critical juncture over the past 20 years. Ninety-nine years of goodness and now he's back with Nell." — St. John's coach Steve Lavin, who coached for seven years at UCLA and also was an assistant at Purdue.<br />
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"John Wooden was a great coach and a great man. He was a man of humility who embodied the best in character and values, and exemplified what coaching is all about. I was fortunate enough to be honored with the Wooden Award in April, an award that now takes on added significance to me personally. I found out that I was being honored on his 99th birthday. To have the opportunity to go out to Los Angeles and see firsthand how great an impact he still has is something I will always be honored and humbled to be a part of. His legacy will endure forever." — Florida coach Billy Donovan.<br />
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"I am very saddened at the passing of John Wooden. In my lifetime, I was fortunate to call him a friend. As a coach, I always admired his gentle demand for nothing but excellence and his student-athletes delivered. He created role models on and off the court, and because of him, it is something I instilled in my players from my first day as a very young coach. The takeaways we all have been blessed with from knowing John Wooden are numerous. For all of his successes, he was such a humble man. Tonight, we have lost a true American icon." — Tennessee women's coach Pat Summitt.<br />
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"Coach Wooden was probably the best coach ever, in any sport. A true gentleman and an incredible leader. Rest peacefully, Coach Wooden." — Kentucky coach John Calipari on Twitter.<br />
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"There isn't a more respected, influential and genuine figure in the history of the game than Coach Wooden. This is a tremendous loss, but his legacy will live on through the countless people whom he touched over the years." — Purdue coach Matt Painter.<br />
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"We take a great deal of pride in his words, his experience and his ability to do what he did. A lot of people at UCLA know that his `Pyramid of Success' is the foundation for a lot of the programs." — UCLA softball coach Kelly Inouye-Perez.<br />
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"I never met him. Meeting him was on the bucket list. Came close a couple times, but never did meet him. Obviously, I've read everything about him, so just being selfish and personal, I have regret that I never had an in-person meeting with him. Amazing life." — St. Louis Cardinals manager Tony La Russa.<br />
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"I grew up in Los Angeles and UCLA was everything to me growing up. And Coach Wooden — if there were a Mount Rushmore of American sport, John Wooden would be on it, not only for what he represented on the court, but what he represented off it. So my very best wishes go to the Wooden family. There has not been a finer gentleman in sports than John Wooden." — ESPN analyst Jay Bilas.<br />
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<b>I have placed no ads for me or any affiliates due to my deep respect for Coach Wooden. May he rest in peace. - Rodney Gilbert</b>Rodney Gilberthttp://www.blogger.com/profile/07522229222382538286noreply@blogger.com0tag:blogger.com,1999:blog-9124973160058521378.post-52466105373040849172010-06-01T05:02:00.000-07:002010-06-01T05:02:36.870-07:00Undecided Senate; Unemployment Benefits may expire for SomeSenate Democratic leaders conceded late last week that an effort to extend unemployment benefits and other expiring provisions through the end of the year will fail.<br />
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A nearly $200 billion package of unemployment benefits and tax credits floundered in the House after conservative Democrats balked at the prospect of adding $130 billion to the federal deficit.<br />
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As a result, unemployment benefits for hundreds of thousands of Americans will begin to run out on June 2.<br />
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Federal subsidies for COBRA health insurance premiums will begin to run out on May 31.<br />
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A freeze in scheduled cuts to doctors’ Medicare reimbursements will expire on May 31.<br />
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A senior Democratic Senate aide said that Democrats would offer a 14-day extension of unemployment insurance, COBRA, the so-called “doc fix” and the national flood insurance program.<br />
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Senate Republicans, however, are expected to object to the proposal because it would add $4 billion to the federal deficit.<br />
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Republicans will make a counteroffer of a short-term extension that would be paid for by funds from the economic stimulus program.<br />
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The senior Democratic aide said Democrats would object because they believe those funds should be devoted to job creation.<br />
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Senators left for the week long Memorial Day recess with this matter still up in the air.<br />
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The senior Democratic aide said lawmakers would reconsider an extension of expiring unemployment benefits and tax relief when they return to Washington on June 7.<br />
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As many as 200,000 people could lose their benefits in the first week after unemployment insurance expires.<br />
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Sad. Being dependent on government was never the purpose of the founding fathers, but considering the state of affairs presented to the American public; we should expect a little more resilience out of our paid incumbents.<br />
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I've seen sled dogs with more perseverance.<br />
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<i>Rodney Gilbert, CLTC, is a Registered Financial Representative and President of United Life Financial LLC. Rodney has been assisting his clients achieve their financial objectives since 2007. He holds Series 6 and Series 63 licenses and the Certification in Long Term Care (CLTC) Designation. Rodney is also an avid speaker to those who want to learn more about tax planning with IRAs. For additional information, visit http://www.unitedlifefinancial.net/<br />
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Remember, this blog is for information only and is not an offer to sell or invest in securities. Please refer to all appropriate prospectuses prior to any investment. Investments can, and do, lose money.</i>Rodney Gilberthttp://www.blogger.com/profile/07522229222382538286noreply@blogger.com0tag:blogger.com,1999:blog-9124973160058521378.post-66965731718037565392010-04-26T06:48:00.000-07:002010-04-26T06:54:40.091-07:00How to Avoid an Extremely Unpleasant Tax Surprise from Your InvestmentsMany investors that hold mutual funds outside of a tax-advantaged account such a 401(k) or Roth IRA are going to receive a rude awakening when their broker sends them their year-end tax documents. Average people that experienced losses of 30%, 40%, and even 50% or more are likely to find that they owe capital gains taxes on these losers. Don’t think it’s possible? Unfortunately, due to the way mutual funds are structured, it’s a simple reality that many new investors don’t even understand.<br /><br />A mutual fund is nothing more than a pool of assets overseen by a professional money manager. Tax rules state that the fund needs to pay out its dividends, realized capital gains, and other income to the mutual fund owners each year on a pro-rata basis. Many funds, particularly those with disciplined management teams that like to hold long-term positions, are able to avoid taxes for years because they buy shares of businesses and simply park them in the bank vault. This allows them to keep more money working for their fundholders. The result is years, sometimes decades, of unrealized capital gains that increase the value of your mutual fund’s share price but don’t ever get distributed – and thus, you never pay taxes on them.<br /><br />In the total panic that occurred over the past twenty four months as the credit crisis swept through the financial community and into the broader economy, something unexpected happened. Average investors, unable to handle the stress of double-digit price fluctuations, dumped their mutual funds en masse. This forced the professionals that managed these funds to sell off stocks that they knew were worth substantially more than the current market price in order to come up with the cash for those who wanted out of the fund. When the redemption fees became overwhelming, many of them were forced to sell off shares of those long-term winners that had huge unrealized capital gains. Despite experiencing huge losses for the year, the gains on these long-term securities were often substantial. As the redemptions flooded in and the shares were sold, the gains became realized triggering – you guessed it – the capital gains tax.<br /><br />To illustrate the concept, let me use an example. Imagine that I managed a mutual fund called Super Value Fund 500. More than twenty years ago, this fictional fund invested in the Microsoft IPO. We turned a $500,000 investment into $500,000,000 for an unrealized capital gain of $499,500,000. Now, we have never sold any of the stock so there have been no taxes paid on that gain. If we were to sell the stock and distribute the gain of $499,500,000 to our mutual fund shareholders pro-rata, they would each be responsible for their own taxes. Those that held their investment through a retirement or tax advantaged account would owe nothing, but those that had their shares held through a regular brokerage account would be subject to the capital gains tax (currently 15% as of the time of this article). They would also owe State taxes on top of that.<br /><br />As manager of the fund, I may have no intention of ever selling that stock. If the market crashes and fundholders panic, however, I’m going to be forced to come up with cash to redeem their shares. As a result, I may be forced to sell some of that Microsoft stock, triggering huge, built-up capital gains taxes. The horrible part is that if you had bought your stock a few weeks before this decision were made and the distribution paid out at the end of the year, you would effectively be paying more than 25 years of investment tax for someone else that got to cash out scot-free. So, you not only get to watch your holdings collapse as the market falls, but you get to pick up the tab for someone else who experienced a quarter-century meteoric rise in the software company.<br /><br />What’s really unfortunate with the whole situation is that the men and women who do exactly what history has proven works, that is continue to dollar cost average, reinvest dividends, and focus on strong quality assets, were punished for the stupidity of others. That’s why it’s important to protect yourself before something like this happens. How? By following two simple rules.<br /><br /><span style="font-weight:bold;"> * Never buy a mutual fund before a distribution unless it is through a tax-free account.<br /><br /> * Never buy a mutual fund outside of a tax-free or tax-advantaged account such as a 401(k), Roth IRA, SEP-IRA, Simple IRA, Profit Sharing Plan, et cetera unless you are willing to take the risk of huge tax payments. </span><br /><br />Follow those two guidelines and you’ll at least have a fighting chance of avoiding unfair capital gains taxes.<br /><br /><span style="font-style:italic;">Rodney Gilbert, CLTC, is a Registered Financial Representative and President of United Life Financial LLC. Rodney has been assisting his clients achieve their financial objectives since 2007. He holds Series 6 and Series 63 licenses and the Certification in Long Term Care (CLTC) Designation. Rodney is also an avid speaker to those who want to learn more about tax planning with IRAs. For additional information, visit</span> <a href="http://www.unitedlifefinancial.net/">http://www.unitedlifefinancial.net/</a><br /><br /><br /><span style="font-style:italic;">Remember, this blog is for information only and is not an offer to sell or invest in securities. Please refer to all appropriate prospectuses prior to any investment. Investments can, and do, lose money.</span>Rodney Gilberthttp://www.blogger.com/profile/07522229222382538286noreply@blogger.com0tag:blogger.com,1999:blog-9124973160058521378.post-16945505325048909572010-04-21T07:47:00.000-07:002010-04-21T08:05:24.191-07:00How Do I find Affordable Health Insurance?Everywhere I go this questions seems to follow me. If you do not have health insurance through your employer, then you are at a huge disadvantage from a cost standpoint. We all know people who do not have insurance, and frankly, do not know how they can stand being in that position. But it appears to be all too common of a problem.<br /><br />If you do not have insurance, it does not mean that you cannot be helped at your local hospital, however. Medical emergencies are handled regardless of your ability to pay. And, while this might seem a nice safety net, it also fosters a mind-set that says that if you have a medical problem (no matter how insignificant) just go to the emergency room.<br /><br />So, as responsible citizens and taking charge of your own life, how do we find affordable health insurance?<br /><br /><span style="font-weight:bold;">Group Plans.</span> There are many, many group plans out there. In fact, you are probably eligible for one that you do not even know about right now. If you are in a group of any kind, i.e. community, professional, alumni, small business owners, self-employed or other associations, you can get into a health plan. Shop around and see what is out there and <span style="font-weight:bold;">compare the premiums</span>. You might be surprised at what you find because these groups offer savings by banding together to get better rates and coverage options. The more the merrier at times.<br /><br /><span style="font-weight:bold;">Higher Risk Groups.</span> Some states offer coverage to those who have been denied coverage by private insurance providers because of pre-existing medical conditions. It might not be much, but it certainly would be better than nothing.<br /><br /><span style="font-weight:bold;">Medicare and Medicaid.</span> These government-run programs offer payment for health care expenses for those in low income situations, pregnancies, children, for the elderly, and those who are disabled. What is great about these is that they can provide coverage even if you have a job. You should contact your local social services office for information on eligibility.<br /><span style="font-weight:bold;"><br />Ask an Independent Insurance Agent</span>. These days, it never hurts to ask. Independent Insurance agents have a large number of insurance companies from which to choose options for their clients. They can give you a quote on an affordable package customized just for you. It is worth a call. Try <a href="http://lifehealthplans.com/"></a> to get a quote or even fill out an application online<br /><br />Search the Internet. One of the benefits of the Internet is being able to find information on a wide range of topics. And this one is sure to have lots of information. Just be careful in choosing who to do business with from the Internet. Be sure to check and double check to make sure that the company is legit.<br /><br />Using these tips will help you find health insurance that you probably thought you could never find, let alone afford.<br /><br /><span style="font-style:italic;">Rodney Gilbert, CLTC, is a Registered Financial Representative and President of United Life Financial LLC. Rodney has been assisting his clients achieve their financial objectives since 2007. He holds Series 6 and Series 63 licenses and the Certification in Long Term Care (CLTC) Designation. Rodney is also an avid speaker to those who want to learn more about tax planning with IRAs.</span><br /><br /><br /><span style="font-style:italic;">Remember, this blog is for information only and is not an offer to sell or invest in securities. Please refer to all appropriate prospectuses prior to any investment. Investments can, and do, lose money.</span>Rodney Gilberthttp://www.blogger.com/profile/07522229222382538286noreply@blogger.com0tag:blogger.com,1999:blog-9124973160058521378.post-58963779109099070642010-03-28T16:51:00.000-07:002010-03-28T17:01:51.602-07:00Need Long Term Care? Know your optionsThere has been a lot of talk lately about long-term care policies and the most economic way to purchase a long-term care insurance policy. One way that is garnering attention here in in Portland, Oregon and I’m sure other places through out the country is to add a ”Chronic Care” or “long-term care” rider to new whole life policy at the time of purchase. This adds flexibility to your coverage. For example, if you need help paying nursing home or other long-term care expenses, the policy’s death benefit can be withdrawn while you are living.<br /><br />The benefits of this are that it would allow you to have a life insurance policy that will pay out when you die, but also give you access to that money prior to death for long-term care expenses. Many of these permanent life insurance policies have a 90 day wait period before they start making payments for expenses.<br /><br />So let me provide two examples:<br /><br />Juanita is 55 years old, single lives in Jacksonville, Florida and wants to provide for her long term care needs. In option one, she buys a long term care insurance policy that will cost her $200 per month and provide her with $250,000 in total coverage. The policy has a 60 day wait period before benefits begin to be paid. <br /><br />In option two Juanita buys a long term insurance policy and spends $100 per month, but sets the benefits to start paying at one year and by doing so gets the same $250,000 in coverage. She then purchases a $50,000 permanent life insurance policy with a long term care rider with the remaining $100 per month. The chronic care payments on the life policy would start to pay out after 90 days. <br /><br />The numbers here are just for example, but the point here of option two is that is if Juanita never needs her long term care insurance, the $100 she diverted to the whole life policy will pay out a death benefit to her heirs, allows Juanita access to <span style="font-weight:bold;">her</span> cash value of the policy if she needs it and still have similar, but not quite as good, long term care coverage.<br /><br /><br />Rodney Gilbert, CLTC, is a Registered Financial Representative and President of United Life Financial LLC. Rodney has been assisting his clients achieve their financial objectives since 2007. He holds Series 6 and Series 63 licenses and the Certification in Long Term Care (CLTC) Designation. Rodney is also an avid speaker to those who want to learn more about tax planning with IRAs. For additional information, visit http://www.unitedlifefinancial.net/<br /><br /><br />Remember, this blog is for information only and is not an offer to sell or invest in securities. Please refer to all appropriate prospectuses prior to any investment. Investments can, and do, lose money.Rodney Gilberthttp://www.blogger.com/profile/07522229222382538286noreply@blogger.com0tag:blogger.com,1999:blog-9124973160058521378.post-35039559351794428462010-01-18T08:38:00.000-08:002010-01-18T08:40:45.930-08:0020 Steps to a Better Performing PortfolioIf you're trying to pick up the pieces, like the rest of the world, pick carefully.<br /><br /><br />Looking to hasten your portfolio's recovery? No doubt you are anxious to avoid further foolish mistakes. To that end, be sure to follow these 20 rules of portfolio building:<br /><br />1. Those who amass impressive portfolios are sometimes good investors. But they are almost always prodigious savers. Socking away a healthy sum every month is the surest way to make your financial accounts grow.<br /><br />2. Before deciding what to buy, consider when you will sell. Stocks may be your best bet for earning high long-run returns. But if you are within five years of needing your money, you can't afford the risk involved.<br /><br />3. Your attention will inevitably be drawn to the results for each of your investments. But what really matters is the performance of your entire portfolio.<br /><br />4. For long-term investors , the big threats are inflation, investment costs and taxes. If your returns aren't high enough to beat back those three threats, you aren't making any money.<br /><br />5. Your stock-bond mix is almost always an unhappy compromise. You should put enough in stocks to generate the sort of long-run returns you need, but not so much that you become unnerved next time the market tumbles.<br /><br />6. If you're a long-term investor, you shouldn't have all your money in stocks or all your money in bonds. Stocks and bonds often move in opposite directions, so you can reduce your portfolio's volatility by owning both.<br />No matter how squeamish you are, don't put less than 20% of your portfolio in stocks. Similarly, no matter how aggressive you are, don't let your bond holdings drop below 10%.<br /><br />7. Once you decide what percentage of your portfolio you want in stocks, look to rebalance back to this percentage at the end of each year. That will force you to buy stocks in market declines and lighten up when stocks are roaring ahead.<br /><br />8. In divvying up your portfolio among various stock and bond sectors, an unswerving commitment is much more important than the precise mix. Some experts suggest stashing 10% of a stock portfolio in foreign stocks, while others advocate 40%. But within reason, the exact amount is less important than your willingness to stick with your chosen percentage through thick and thin.<br /><br />9. Buying risky assets can lower your portfolio's risk level. On their own, gold stocks, high-yield junk bonds and emerging markets are enormously risky. But if you add a sliver of these investments to your portfolio, you can actually reduce your portfolio's overall risk, because these investments may post gains when your core stock and bond holdings are suffering.<br /><br />10. Whenever a market falls in value, you should become more enthusiastic, not less so. Individual stocks and bonds may lose all value. But it is rare that entire markets disappear. To be sure of capturing a market's performance, buy mutual funds, not individual stocks.<br /><br />11. Never buy an actively managed stock fund unless you are confident it will outperform competing index funds. With my own portfolio, I find it hard to summon that sort of confidence, which is why I have almost all my money in market-tracking index funds.<br /><br />12. The quickest way to get poor is to bet everything on one stock. The quickest way to get really poor is to bet everything on your employer's stock. Just ask the laid-off employees of WorldCom (now called MCI), Enron and other extinct corporations, who lost both their paychecks and their nest eggs. Check the pension funding status of your company as well. Even companies like Ford almost lost their pensions due to underfunding.<br /><br />13. When you buy an investment, you never know whether you have yourself a winner. But if you hold down costs, you will definitely improve your results.<br /><br />Indeed, trying hard to outperform the market is almost always self-defeating. The more you trade, the more you incur in investment costs, thus making it less likely you will beat the market.<br /><br />14. The biggest investment cost is taxes. To slash your portfolio's tax bill, max out your 401(k), fund your individual retirement account and trade with great reluctance in your taxable account. <br /><br />I know people who trade at the drop of a dime to make a couple of dollars each day...........Trust me, the short-term trade-off of Uncle Sam's tax bite will delay their retirements tremendously!<br /><br />15. If you keep costs low and maturities short, you won't go too far wrong with bonds. Short-term bond funds will give you much of the yield of longer-term bond funds, but with a fraction of the price gyrations.<br />But which funds should you buy? It's tough for a bond manager to overcome high annual expenses, so your top fund-picking criteria should be cost.<br /><br />16. If you are at a loss for what to buy, consider purchasing either inflation-indexed Treasury bonds or Series I savings bonds. They are probably the closest you will ever get to a risk-free investment. There is no credit risk, because the bonds are government-backed, and there is no long-run inflation risk, because the bonds offer a fixed yield above inflation.<br /><br />17. Paying down debts is like buying bonds. When you buy bonds, you lend money to others, in return for which you earn interest. By contrast, when you pay down debts, you reduce the amount you owe to other folks and thus reduce the amount of interest you have to pay.<br /><br />Paying off credit cards and other high-cost debt is one of the smartest investments you can make. Depending on your mortgage's interest rate, it can also make sense to make extra principal payments on your home loan.<br /><br />18. The biggest gain from homeownership doesn't come from price appreciation. Instead, the big gain comes from the rent or, if you live in your own home, the imputed rent. One implication: You shouldn't expect huge profits if you buy a vacation home and then use it yourself, rather than renting it out.<br /><br />19. If you want to invest in real estate , I would forget buying actual properties and instead purchase real-estate investment trusts. With REITs, you will get the sort of returns enjoyed by real-estate owners, but without the hassles of being a landlord.<br /><br />20. For the sake of your sanity and your heirs, keep your portfolio simple. Draw up a list of all your investments. If the list doesn't fit on one page, you own too many investments.<br /><br />Honorable mention.........<br /><br />21. Tax Diversify your portfolio if you want to maximize your retirement savings. How? Diversify. Fund accounts that generate both tax-deferred and tax-free income -- and have some assets in your taxable accounts that create most of their return through unrealized capital gains or a rising share price. <br /><br />Unrealized gains aren't taxed until you sell, and as long as you hold these investments longer than a year, you're taxed at the long-term capital-gains rate, which now maxes out at 15 percent vs. 35 percent for ordinary income and short-term capital gains. <br /><br />The reduced 15% tax rate on qualified dividends and long term capital gains, previously scheduled to expire in 2008, was extended through 2010 as a result of the Tax Reconciliation Act signed into law by President George W. Bush on May 17, 2006. As a result:<br /><br />•In 2008, 2009, and 2010, the tax rate on qualified dividends and long term capital gains is 0% for those in the 10% and 15% income tax brackets. <br />•After 2010, dividends will be taxed at the taxpayer's ordinary income tax rate, regardless of his or her tax bracket. <br />•After 2010, the long-term capital gains tax rate will be 20% (10% for taxpayers in the 15% tax bracket). <br />•After 2010, the qualified five-year 18% capital gains rate (8% for taxpayers in the 15% tax bracket) will be reinstated.<br />Keeping money in these three pots -- tax-deferred, tax-free and long-term capital gains -- will give you some maneuvering room when it comes to retirement. <br /><br />Enjoy.........<br /><br />Rodney Gilbert, CLTC, is a Registered Financial Representative in Atlanta, GA. Rodney has been assisting his clients achieve their financial objectives since 2007. He holds Series 6 and Series 63 licenses and the Certification in Long Term Care (CLTC) Designation. Rodney is also an avid speaker to those who want to learn more about tax planning with IRAs. For additional information, visit http://www.rodneygilbert.net/ <br /><br /><br />Remember, this news release is for information only and is not an offer to sell or invest in securities. Please refer to all appropriate prospectuses prior to any investment. Investments can, and do, lose money.Rodney Gilberthttp://www.blogger.com/profile/07522229222382538286noreply@blogger.com0tag:blogger.com,1999:blog-9124973160058521378.post-5657611235495375722009-12-24T04:16:00.000-08:002009-12-24T04:42:31.641-08:00Retirees-Things to consider for the upcoming years2009 was a trying year for many companies and individuals. Of course, as employers go so do the employees. With that said, I have quite a few friends considering and even planning on retiring very soon. As year-end approaches, they are faced with an array of financial choices that can benefit their portfolio this year and 2010.<br /><br />Friends aside, given the current state of the economy, many retirees are paralyzed by their fear, and subsequently are ignoring their portfolios. This is the biggest financial mistake I see retirees make – and it’s potentially creating bigger financial problems down the line which could be resolved by implementing some basic strategies.<br /><br />Here are three things every retiree needs to examine in their portfolio before the year’s end:<br /><br /><strong>1. If taking income, it needs to be guaranteed.</strong> The three primary sources of guaranteed retirement income are social security, annuity income and pension benefits. No matter how safe something appears, if it’s not guaranteed, it does not count. For example, Lehman Brothers was considered so safe that banks, institutional investors, and individuals throughout the country invested in their bonds as a “safe haven” where they could earn a little bit extra interest over Government bonds. We saw what happened there, as Lehman’s collapse left investors holding the bag. Insurance companies, on the other hand, offer fixed annuities. They guarantee your principal and pay you interest each year. Fixed annuities are guaranteed by the State Guarantee Association, which is very similar to FDIC, but administered through the States.<br /><br /><strong>2. Eliminate unnecessary portfolio risk.</strong> Why take risk if you don’t have to? So many retirees are hanging on to their 401(k) hoping to recoup losses they’ve experienced over the past few years. At this stage of their lives, this is a high-risk strategy. The money can be used to invest in “safer” avenues.<br /><br /><strong>3. Watch out for upcoming tax increases.</strong> Now is the time to get IRA dollars into more tax-efficient vehicles. With government deficits running at record highs, it’s only a matter of time before tax rates increase. But today, retirees have the opportunity to reposition those dollars into more tax-efficient vehicles like Roth IRAs and Life Insurance. Repositioning those dollars today at lower tax rates can save the typical retiree thousands of dollars in tax over time.<br /><br /><em>Rodney Gilbert, CLTC, is a Registered Financial Representative in Atlanta, GA. Rodney has been assisting his clients achieve their financial objectives since 2007. He holds Series 6 and Series 63 licenses and the Certification in Long Term Care (CLTC) Designation. Rodney is also an avid speaker to those who want to learn more about tax planning with IRAs. For additional information, visit http://www.rodneygilbert.net/</em> <br /><a href="http://www.rodneygilbert.net"></a><br /><br /><em>Remember, this news release is for information only and is not an offer to sell or invest in securities. Please refer to all appropriate prospectuses prior to any investment. Investments can, and do, lose money.</em>Rodney Gilberthttp://www.blogger.com/profile/07522229222382538286noreply@blogger.com0tag:blogger.com,1999:blog-9124973160058521378.post-24453883189678956962009-11-28T07:37:00.000-08:002009-11-28T08:29:10.168-08:00Tips for today's "Over 40" job hunter!Today, more than ever, you will find more people of all ages searching for jobs or changing careers due to a multitude of reasons. Maybe the present economy, job cut-backs or just tired of their current economic situation prompted the search. Either way, for the "Over 40" bracket, because of your age and experience, you have many more options and a much better network of colleagues than younger workers. Needless to say, it's much better to look for a new job when you have one. But, whether or not you are currently employed, your age is still an advantage. Really!<br /><br /><strong>Today, personal networking is still the best way to get a job! Most jobs are never even posted on the Web.</strong><br /><br />Your advantage is that you already have a network of people who know and respect you, a network built up over the years. Chances are people in your network are either also looking for work, or they are - or know - someone who is looking for good help. So, you can help, not "use," each other to move ahead with your careers and renew old friendships, too.<br /><br /><strong>That netwok is gold, right now, and it's something that younger workers usually don't have!</strong><br /><br />Networking options:<br /><br />Take advantage of that large network you have to track down that next job. Contact the people that you know and/or have worked with in your career. You are not asking for a job! You really are just looking for advice on what companies are good places to work; what companies are growing (and hiring), where there might be opportunities for you.<br /><br />You are simply asking colleagues and friends for advice and leads. Ask them where they would look for a job if they were in your shoes right now.<br /><br />Sources:<br /><br />- By age 50, you must know many people in your industry, professional and/or community. If you haven't already contacted some of these people, do it now!<br /><br />- Job-Hunt's Job Search Networking Expert, Liz Ryan, has written many articles about networking, including how to find your network, how to help others in your network, and how to be a good networker yourself. Check out her site; <a href="http://www.asklizryan.com/">http://www.asklizryan.com/</a><br /><br />- Social networking site LinkedIn (free) has become very useful in finding former colleagues and helping you reconnect. Build out your LinkedIn Profile as a resume, connect with your friends and colleagues who are also using LinkedIn (over 25,000,000 people are), exchange recommendations, and join LinkedIn Groups to demonstrate your knowledge and connect with more people.<br /><br />Do a search on the employer's name and see who turns up. If you have a specific person you want to reach, do a search on that person's name. LinkedIn will help you find and stay in touch with these people. Job-Hunt Social Networking Expert <a href="http://alisondoyle.typepad.com/">Alison Doyle</a> has written some great articles about leveraging the social networks which should be worth reviewing.<br /><br />- If you've helped anyone get started in your industry or profession, helped them with their job search, or done them a favor, that's another group of contacts to explore. Again, LinkedIn may help you find those people. And you can also check Ziggs (free), ZoomInfo (free), and JigSaw (free) which have contact information for people in different companies.<br /><br />- Did/do you belong to any school or business "alumni" groups? Colleges and universities have had them for years, particularly the schools supported by donations, and now groups are developing based on common background working for a specific employer. Contact your schools (high school through graduate schools) to see what alumni services they offer. To find employer alumni groups, Google "former employees" (with the quotes) and add the company name or check the company Website for "alumni" or "retiree" information. Also, check Job-Hunt's list of corporate, government, and military alumni groups.<br /><br />LinkedIn also has an extensive list of Groups, including all kinds of "alumni" (college and corporate) as well as special interest groups. You can start "discussions" within those groups, if you are a member, and they can be an excellent way to get back in touch with people you may have forgotten you knew. You can also start a group if one for your former employer or special interest doesn't exist.<br /><br />- Did/do you belong to any clubs, professional or industry organizations, Chambers of Commerce, or other collection of people who meet with each other on a regular basis? Keep going to those meetings; visit the web sites. Some organizations have jobs posted for their members (or by members for the public). See Job-Hunt's links to national and international associations which may have chapters meeting near you.<br /><br />- Job search support groups have popped up everywhere, often associated with a church or Jewish Community Center (which usually provide non-denominational support). It's another way to extend your network as well as to get help staying "up" and learning new things about your local job market. Job-Hunt.org has an extensive list of job search support groups, by state, for the U.S.<br /><br />These are NOT "informational interviews," and you don't need to feel humble. You are just staying in touch with colleagues and members of your business network. You may have helped them in the past, and you may help them again in the future.<br /><br />Remember, now is the time to start anything you may or may not feel necessary in today's environment. What I mean is even if you don't see a job search in your future keep your network alive through constant contact and referrals. Where you are tomorrow may depend on what you do today.Rodney Gilberthttp://www.blogger.com/profile/07522229222382538286noreply@blogger.com0tag:blogger.com,1999:blog-9124973160058521378.post-12663942904827256292009-10-12T11:12:00.001-07:002009-10-12T11:25:06.673-07:00Right Now. (My thoughts on health care)I don’t know the answer to the health care crisis in the United States. But I know there is a crisis and something needs to be done. I was just about to turn off the TV on a recent Sunday when I came across a PBS special report. I was intrigued simply because I had never seen a PBS “Special Report.” I quickly realized it was about health care, and the stories I heard were unbelievable.<br /><br />A husband and wife were talking about how they don’t have health care. Coming in well after the start of the program, I’m not sure how they got to that point, but that isn’t what stood out about their story. The Oklahoma couple has two children, and the older one, a girl, has a chronic respiratory disease. She had bouts of being very sick, in and out of the hospital. At some point, she was denied health coverage because of her “pre-existing condition.”<br /><br />These two words have come up a lot in the recent health care debate going on in Washington, with Obama pushing for a plan that would not allow companies to deny coverage to anyone with a “pre-existing condition.” This innocent little girl, not even 10 years old, put her parents in a compromising position. They couldn’t afford the medical bills piling up due to their daughter’s chronic illness. But they couldn’t deny her the medical care she undoubtedly needed.<br /><br />Or could they?<br /><br />The insurance company told the couple their daughter would be covered if she went one year without going to the doctor. Fearful of losing their house because of the mounting medical expenses, they knew this health insurance coverage was crucial.<br />They prayed their daughter’s condition would not flair up, that she would be healthy for a whole year. But one morning, she woke up very sick. Her parents put off taking her to the doctor. If they did, she would again be denied coverage, putting her family back to square one.<br /><br />The couple thought maybe the illness would get better on its own. But it didn’t. The little girl was barely alert. They had no choice but to take her to the hospital.<br />If they had waited any longer, they could have been accused of medical negligence.<br />She was not only admitted to the hospital but spent days in the intensive care unit.<br /><br />All because of money.<br /><br />Fast forward to the end of the show, and viewers learn the girl and her brother qualified for children’s Medicaid in the state of Oklahoma. But their parents had to earn a limited income, so they worked less and made less money just to get their children health insurance. Still, neither of the parents had health insurance themselves. Instead, they just crossed their fingers hoping neither of them got sick or injured.<br /><br />I turned off the TV just astonished at how messed up our system really is. Like I said, I don’t know the answer, but I know something needs to change.<br />Anyone who wants health care to stay the same needs as much help as the folks who don't have any health care help.<br /><br />Responsible, hardworking people raising children born with “pre-existing conditions” should not be punished. What do you think?Rodney Gilberthttp://www.blogger.com/profile/07522229222382538286noreply@blogger.com0tag:blogger.com,1999:blog-9124973160058521378.post-34008705786301233102009-10-10T11:47:00.000-07:002009-10-10T12:03:36.767-07:00Life Insurance-The foundation to your family's future.There are 68 Million Americans without Life Insurance. Why? Securing for your future and your family's future is one of the most important things you can do in your lifetime. That's why everyone needs to have insurance and once they have it........keep it! <br /><br />Mom, Pop, kids, dog.......the whole family!<br /><br />Life insurance, in combination with investments and retirement planning, is the way to secure the path for a financially set future. With this being the case, it is sad to think that most of us do not have the amount of life insurance that is deemed appropriate to see this goal come to fruition.<br /><br />Life insurance has several reasons why it is deemed so important to our futures:<br /><br />1.It helps to provide for your family monetarily after your death. It will aid in them paying their household bills and securing that they can keep the house. If there are stay at home parents out there, adequate coverage on the spouse can ensure the flexibility to stay at home stays in place. <br /><br />2.It can aid in securing enough funds for the college education of your children.<br /><br />3.It offers the benefit of being able to cover estate taxes, medical costs, funeral costs, and other costs that are associated with the timeframe of your demise.<br /><br />4.It can help you to save for retirement in a more efficient manner.<br /><br />If you leave your family without the protection of life insurance, they may end up losing their home and other assets trying to pay off your final expenses. Life insurance has important tax benefits where the beneficiary will not be required to pay any income tax on the amount received from your death.<br /><br />If you are married or have people that are dependent upon you for support, you need life insurance. When purchasing life insurance, you should take out enough to cover five to ten times your annual income amount. This amount can vary per individual; this is just a standard guide.<br /><br />If your place of employment offers you a group life insurance policy, it is a good idea to take advantage of it. In many places of employment, the company will cover the fundamental group coverage amount, such as a term life insurance policy. Making sure that you plan ahead to keep your family from suffering is the most important thing.<br /><br />Sustaining their financial stability should be a number one priority and should never been put off until tomorrow. Making sure that you and the ones you love will be able to have some kind of peace of mind if something horrible happens is perhaps one of the best ways to seek ultimate peace of mind.<br /><br />Comparing competitive life insurance quotes is the beginning, the best way to safeguard your loved ones is picking the company with the stability to be there for your family when you need it. Try <a href="http://www.ambest.com/">AM Best</a> to check the ratings of the companies.Rodney Gilberthttp://www.blogger.com/profile/07522229222382538286noreply@blogger.com0tag:blogger.com,1999:blog-9124973160058521378.post-66419502156081698642009-10-09T11:07:00.000-07:002009-10-09T11:20:26.670-07:00Protect your assets wiselyI know we love our kids. Some more than others and some just enough to try to get the gas turned on in the kids name. Well, even later on in life some people try to save on taxes by placing certain assets in their children's name. Especially the folks realizing that they are going to outlive their money.<br /><br />Case in point. Retirees sometimes add their child’s name to their accounts in an effort to transfer ownership and remove assets from their estate. But doing so may cause problems later.<br /><br />First, you aren’t realizing any tax savings by putting your child's name on a bank or brokerage account—i.e., registering it as joint tenants with rights of survivorship (JTWROS). JTWROS assets bypass the probate court process upon your death and go directly to the surviving joint tenant, so there will be fewer time delays and court costs. <br /><br />However, the account will still be included in your estate. Moreover, adding your child’s name to your account could expose you to legal woes—and leave you without any money for retirement. Let’s say you’re getting older, and you aren’t able to manage your affairs well, so you add your adult child’s name to your bank and brokerage accounts. Your child can write checks on the accounts, and if you die, he or she will inherit the accounts, avoiding probate. <br /><br />But there could be problems.<br /><br />First, since assets registered as JTWROS are owned jointly during your lifetime, they thus can be accessed (and liquidated!) by your joint tenant while you are living. In other words, your child could potentially liquidate the account without your consent.<br /><br />Perhaps more worrisome: If your child gets sued, you could lose all of your money. And don’t think you can change the title of the assets once legal proceedings begin—that’s called fraudulent conveyance, and it's a big legal no-no. There are look-back periods. Please proceed with caution.<br /><br />A better option may be a durable power of attorney, which gives your child access to your accounts without placing the assets at risk.<br /><br />Any other suggestions? I would love to hear from you. Have a good weekend.Rodney Gilberthttp://www.blogger.com/profile/07522229222382538286noreply@blogger.com0tag:blogger.com,1999:blog-9124973160058521378.post-77436889205294241582009-10-06T12:06:00.000-07:002009-10-06T12:12:52.078-07:00Put that old 401K back in use!I've received numerous questions as to the how and why to rollover a 401K so here goes.....As retirement approaches, money decisions become increasingly major. One big decision concerns what to do with the money in your old company retirement plan.<br /><br />Consider a direct rollover. For most people, the most attractive option is an IRA rollover. In other words, you transfer the money from your 401(k), 403(b) or 457 plan into an IRA. It is not hard to accomplish, provided you have the guidance of a qualified financial advisor.<br /><br />Basic steps:<br /><br />A direct rollover is not the same thing as a direct payment to you. Yes, your employer can actually write you a check for the full amount of your 401(k) account, but 20 percent of that money will be withheld for taxes.<br /><br />Do you want to avoid that 20 percent withholding? A direct rollover is the solution. It is a "trustee to trustee" rollover, which works like this: your employer writes a lump sum check not to you, but in the name of the trustee or custodian of the IRA that you are creating to hold the funds. You then let your company’s retirement plan administrator know that you’ll be doing a direct rollover. (There is almost always a form to be filled out, on which you can state the specific instructions for the distribution check.)<br /><br />Your company sends you the check payable to the IRA trustee, with no withholding, and you have 60 days to deposit it in the IRA; day 1 is the day after you get the check. (Sometimes a wire transfer of assets occurs instead, between one investment custodian and another.) If you don’t complete the direct rollover in 60 days, you will pay tax on the entire amount. (There’s no grace period for weekends or holidays.)<br /><br />If you want to leave work before age 59½ or you own shares of company stock, you should consider the tax implications created by those circumstances before attempting any kind of rollover.<br /><br />When you leave a company, you usually have three options with your retirement plan: you can leave the money in the plan, roll it over into a new plan (if you elect to keep working for a new employer) or do a direct rollover into an IRA.<br /><br />What you can and can’t do:<br /><br />(Pay attention)<br />Is it time to roll over your retirement money? If that time is here or getting closer, you need to be very careful with what could possibly be the largest lump sum you ever receive. Be sure to ask a qualified financial advisor about your IRA rollover options today.<br /><br />You can make unlimited direct rollovers of your retirement account assets, and you can add the money in your retirement plan to an IRA you already have, if you don’t intend to go back to work and put those assets into a new employer plan. Once your retirement plan assets are in an IRA, you can invest them in practically any way you choose. You can also set up your IRA to make systematic payments to you.<br /><br />Good luck. <br /><br />Contact Rodney Gilbert at rtgilbert@ft.newyorklife.com or (404)729-6485 if you have any questions.Rodney Gilberthttp://www.blogger.com/profile/07522229222382538286noreply@blogger.com0tag:blogger.com,1999:blog-9124973160058521378.post-33631636182152347162009-10-02T10:42:00.000-07:002009-10-02T10:45:30.037-07:002010 IRA News!!!Beginning January 1, 2010, individuals with modified adjusted gross income exceeding $100,000 will be able to convert all or some of their IRA into a Roth IRA. In 2010, taxpayers have a one-time opportunity to split the income equally into 2011 and 2012 thereby spreading out the tax owed. <br /><br />Eligibility, however, does not automatically make it a good idea. One size doesn’t fit all so be sure to consider your current and future tax brackets, non-deductible basis in your IRA, cash flow needs, estate intentions, and whether you can pay the tax due from outside sources, among other things.<br /><br />For more Info. contact Rodney Gilbert (404)729-6485 or email at rtgilbert@ft.newyorklife.comRodney Gilberthttp://www.blogger.com/profile/07522229222382538286noreply@blogger.com0tag:blogger.com,1999:blog-9124973160058521378.post-74997419979963366142009-09-28T15:57:00.000-07:002009-09-28T16:05:11.678-07:00Four Money Lessons for Parents and their ChildrenMommy I want that new video game! Dad I want the new I-Phone! Grandma I want the new Mac Book! Most parents have heard some variation of the above statements. Parents usually are the primary financial educators for their children. Time after time, I have seen young people receive sizable allowances or inheritances, without a base of knowledge in financial planning. Consider the following four points to assist the children in your life to have a responsible attitude about money.<br /><br />1) <strong>Be a Role Model</strong> - The way parents spend money and the way children view money has a significant correlation. Consider discussing the family's financial goals and plans with the children. How much you share is to your discretion, but include the younger generation in at least a portion of the monthly management. How parents deal with money issues, from the monthly bills to planning family vacations can be important in teaching the children money management and the value of money.<br /><br />2) <strong>Encourage Savings and Investments</strong> - To encourage children to save money is one of the simplest ways to encourage a responsible attitude about money. This could include designating a portion of a child's allowance to a saving account, or making gifts of cash directly to an account in their name. Parents can discuss the account statements with the children and introduce the concept of "paying yourself first".<br /><br />3) <strong>Develop a Sense of Financial Empowerment</strong> - It is important that parents develop responsible spending habits by well thought-out choices. In order to guide and direct rather than dictate the savings and spending. Take children on window-shopping trips to compare prices and products and adopt the mind set that every trip to a store is an exercise leading to a potential purchase. For example, consider limiting impulse buying by implementing a rule that prices and products are compared at a minimum of three locations. I learned this technique working with a local municipality who mandated 3 quotes before a purchase.......Even if the first quote was from the manufacturer!!! <br /><br />Go figure!<br /><br />4) <strong>Give Unto Others</strong> - Involve children in the financial decisions regarding philanthropy. By helping children contribute time or money to a charitable cause, it can teach them that money is important in ways others than personal consumption.Rodney Gilberthttp://www.blogger.com/profile/07522229222382538286noreply@blogger.com0tag:blogger.com,1999:blog-9124973160058521378.post-90513098639508850162009-09-22T12:16:00.000-07:002009-09-22T12:20:25.052-07:00Investing Pitfalls can become Quicksand in TimeDuring these turbulent economic times, it has been difficult for many people to invest. However, investing is an absolutely imperative exercise in order to achieve your various financial goals. Here are five common pitfalls investors face and solutions to help you avoid them.<br /><br />1) Getting a late start. Few investors start investing when they can, but wait until they must. The earlier you start, the easier it will be to achieve your goals. Let's compare an investor who starts investing $2,000 a year, at age 16 when they first start working versus the person who starts investing at age 26, when they have steady employment.<br /><br />Assuming this practice is continued until age 65, with an ARR (annual return rate) of 10 percent, the early investor will have accumulated $2,114,379. The procrastinator will be left with a relatively paltry sum of $802,895. The difference is astonishing. Even if all you can afford to do is invest $25 a month, you should still put it to work for you, sooner rather than later. The extra time can provide spectacular results.<br /><br />2) Not doing your due diligence. Many people will put more time into purchasing a stereo than they will into selecting a suitable investment. It should be the other way around. Do the proper research, and make sure you understand what it is you are buying.<br />Another point is to be objective. Emotions have no place in investing. A stock price will increase because of the fundamentals as portrayed in the financial statements, not because you have a gut feeling that it will take off.<br /><br />Performing your due diligence is also relevant when it comes to selecting a financial advisor. If someone else is going to select your investments, you better make sure they are competent and experienced enough to do so.<br /><br />3) Confusing investing with speculating. Many people believe they are investing when in fact it is more like gambling. It is OK to speculate with a portion of your funds, but you must realize that is what you are doing. The first speculative concept to avoid is day trading (i.e., trading very rapidly in and out of a stock). If it were as easy as it seems, then professionals with more time and better resources would be doing it. Since very few do, it is a sign that you should not pursue this path.<br /><br />A similar concept is investing over a short period of time in risky stocks. Investing in equities with an expectation of making a big gain over the next six months or year is more along the lines of speculation than investing. To truly be investing, you need quality investments over a substantial period of years.<br /><br />Perhaps the most devastating mistake an investor can make is listening to a "hot tip." If it sounds phenomenal, then get all the information, and do your research. If you still like it, then proceed. Rarely will the "investment" be deserving of your capital. Simply because a friend's uncle says that a stock will soar does not make it so. Once again, do the proper research.<br /><br />4) Not diversifying adequately. Investors have a tendency to overweight their portfolio with a specific company, industry or investment type. A balanced portfolio should consist of all three of these. Too many people put all of their eggs in one basket, and get burned badly with a market reversal. There are professionals who have used focused portfolios successfully, but they are rare, and should not be imitated.<br /><br />This does not mean you should be invested evenly between bonds and stocks, but it is a commendable to have a variety of both. With that being said, it may be advantageous for most young investors to contemplate owning predominantly equities. This can be helpful in overcoming the obstacle of keeping up with inflation. However, proper portfolio diversification needs to be made on an individual basis, after considering your risk tolerance.<br /><br />5) Buying high and selling low. All too often, people take a position in a stock after the price has gone up, and sell out when the inverse occurs. It should be the other way around. Lack of conviction can make it tough to invest during challenging times. However, if the proper research has been done, this should not be a problem.<br /><br />Ironically, recessions and market crashes provide excellent opportunities for investors. Often times, these apocalyptic and euphoric manias are driven by the media and analysts' reports, which simply follow the herd.<br /><br />A contrarian (i.e., an investor who behaves in opposition to the prevailing wisdom) mindset, with the proper research, can often prove ideal to finding the best values during chaotic market movements. This is especially true for young investors who have time on their side to allow for a market turnaround.Rodney Gilberthttp://www.blogger.com/profile/07522229222382538286noreply@blogger.com0tag:blogger.com,1999:blog-9124973160058521378.post-41495102149941559472009-09-22T04:24:00.000-07:002009-09-22T04:35:02.258-07:00Take control of financial fearsIn her book ‘The 9 Steps to Financial Freedom’, Suze Orman asserts that at the root of issues many of us have with financial planning and money management is our fear of money. These fears have their groundings in our childhood memories of how the persons around us dealt with money and the power it seemed to have over their lives.<br /><br />Based on our own personal circumstances and reactions we may become very unwise about money, spending beyond our means, or we may be overly cautious in our investment strategy. The first two steps in the aforementioned book force readers to take a look at their attitudes to money.<br /><br />In addition to a lack of courage in money matters, there also appears to be a lack of knowledge. Despite the many “economists” our nation has, evidenced by the number of persons who call the radio talk shows with their solutions, few of us really understand how many of the financial instruments that are available work. This lack of knowledge may be due to our perception that the subject is too difficult and technical to understand, or it may be that our fear has made us avoid learning about the topic.<br /><br />Money matters and financial planning in general can have persons cowering, but preparing for the day when the individual is no longer able to work appears to be the scariest scenario of all. Working as a Financial Professional I have deduced that there are three major attitudes to retirement planning. One belongs to a group of people who see retirement as death’s waiting room, the last bench on which they will sit before seeing their final doctor. These people not only avoid planning for their retirement, they may also avoid buying life insurance or writing their wills. (We will address the issues of the other groups — persons who believe that they have insufficient income to plan for their retirement and thus believe planning to be pointless, and procrastinators who view retirement as a long way off — in subsequent blogs.)<br /><br />There is nothing wrong with having a fear. Being afraid of the unknown, of appearing foolish, or of our own mortality is normal. Yet because ultimately we wish to enjoy financially independent lives and not be a burden to others, we need to face our fears and take appropriate action. Our families and our children depend on us to be responsible. Writing a will for example, an important part of long-term financial planning, makes life that much easier for our loved ones. Seeking to understand the investment instrument that we have purchased, why it is the best for us, and the benefits and risks, will ultimately have an impact on our families. In being responsible for our financial well being we are being responsible to our loved ones as well.<br /><br />Each of us needs to examine ourselves to discover what our fears are. What is stopping you from planning for your long term financial security? Some signs that maybe you are allowing yourself to be hindered by money fears include: (1) large sums of money placed unnecessarily in low interest bearing instruments such as savings accounts; (2) lack of a will; (3) chronic bank overdrafts and overspending on credit cards; or (4) not owning anything even though you have money to do so. Some of our fears will be dispelled with information.<br /><br />I suggest a lot of research and there are many books and articles readily available in the market place today. Once you’re ready to put your plan together, you should speak with a financial advisor or a Consultant. They are not that scary.Rodney Gilberthttp://www.blogger.com/profile/07522229222382538286noreply@blogger.com0tag:blogger.com,1999:blog-9124973160058521378.post-12525345762877925032009-09-07T11:24:00.000-07:002009-09-07T11:32:57.986-07:00Get in while you fit into Real EstateHappy Labor Day! <br /><br />I know the economy isn't doing as well as we all would like which is why we probably all know someone who is taking advantage of the current housing market. Notice, I did not say "bad" housing market because of the subjective nature of the word "bad". <br /><br />If you are joining the millions of opportunists "good luck" If you are waiting on the market to hit rock bottom before you get started try not to wait until it's too late. By the time sources confirm the market has hit bottom, prices and interest rates are already on the upswing. Many people tend to sit back and watch before taking action, but if you watch too long, opportunities are missed.<br /><br />The time to buy is now, but it should be done carefully. Investors need to purchase with the long-term returns in mind. With the right tools and/or the expert advice of an experienced property manager, it is easy to crunch the inventory of available properties down to a short list of homes that would make a truly great investment. Once you have a short list, you can shop for the best deal without compromising long-term investment ROI. This strategy will put you ahead of the masses that are getting a great "deal" on bad investments. Good Luck!Rodney Gilberthttp://www.blogger.com/profile/07522229222382538286noreply@blogger.com0tag:blogger.com,1999:blog-9124973160058521378.post-13631406662182412322009-09-02T13:05:00.000-07:002009-09-02T13:16:14.007-07:00Insurance from your employer?I think it's time to set the record straight about buying life insurance from your employer. First and last tip: Do your research! No one has your best interest in mind more than you. I have yet to see an employer buy the best benefit plan for their employees available. Trust me if they can get you to work for free, they would try it. The same for your benefits..... Take the free stuff/match if it's available, but otherwise get your own ASAP.<br /><br />Always accept free life insurance if your employer offers it. But if you are healthy and buying life insurance through payroll deduction, you may be paying too much. As a group life insurance plan participant, you are pooled with the unhealthy people in your company who are also buying life insurance and paying the same price. Also for tax reasons, since you paid for the life insurance before tax, your death benefit may be taxable. On top of that, the price of your group plan life insurance increases as you get older. With that being said, get your own policy outside of your employer as fast as possible. Lock in your good health while you have it.<br /><br />Find out particulars if you already have life insurance through your company. Most life insurance policies you buy through your company will get more expensive as you get older and group life insurance is generally not portable when you retire or change jobs. Find out if the group plan does allow portability, or how the conversion features are handled. <br /><br />Untill next time, let me know what you think.Rodney Gilberthttp://www.blogger.com/profile/07522229222382538286noreply@blogger.com0tag:blogger.com,1999:blog-9124973160058521378.post-54847736364636065462009-08-26T15:24:00.000-07:002009-08-26T15:35:09.884-07:00Money Saving TipsWe're almost 3/4 done with 2009 and some of us still have not met our savings goals for the year. I know there are many ways to save but here are a few that have worked for me. <br /><br />1. Use Cash : Where ever possible avoid using credit cards.<br /><br />2. Buy generic where possible.<br /><br />3. Stay At Home : Dont go out much stop eating at restaurant's and stop your weekend trips to the mall instead stay at home and bond with the family. And also end up saving cash in turn.<br /><br />4. 30 day list : If you have a sudden impulse to buy anything, put it in a 30 day wait period and after the 30 days are up if you still need it only then buy it.<br /><br />5. Exercise : Exercise is the best way to keep your body fit and avoid costly medical bills later.<br /><br />6. Talk to your Spouse : Its important that you and your spouse should be in the same line of thinking about saving cash.<br /><br />7. Use a Spread sheet for tracking expenditures.<br /><br />8. De clutter your home : The less stuff at home the less you spend on maintaining it and also it is said in VASTU it lets positive energy flow.<br /><br />9. Pay Savings and debt first : Whenever you sit down to pay your bills you should first pay off you savings account then your debt account and then the bills.<br /><br />10. Try To supplement your job Income : Let your income from you job not be the only income you earn, try getting a substitute.<br /><br />These may sound familiar, but some may be new to others. Give them a try and tell me what you think.Rodney Gilberthttp://www.blogger.com/profile/07522229222382538286noreply@blogger.com0tag:blogger.com,1999:blog-9124973160058521378.post-83378915492498290132009-08-25T07:23:00.000-07:002009-08-25T07:32:32.914-07:00Protect your Home Today!!!!Are you one of the millions of Americans who fear that company cutbacks may cause you to lose your job? With the national unemployment rate at the highest in 26 years, touching 9.4% as of early August 2009, it is expected that millions of more Americans will lose their jobs this year before the economy gets better. Though you may not be able to predict the stability of your job, what can you do now to protect your income and mortgage if a layoff occurs for you? Contribute to Savings. <br /><br />Many individuals and families with good jobs and a mortgage do not have an emergency savings account set in place. To protect yourself and your family from a financial crisis, you should have a savings account set up with at least three, and ideally six, months of living expenses. The system I use will generally use 3 months of savings for a two income household and 6 months for an one income household. That means you should look at your monthly budget and determine what basic costs you will incur, such as your house payment, groceries, car payment, etc. If you have little or no savings at all, start now.<br /><br />Open a savings account at your bank that you contribute money into each month. The more you can cut back now and put into savings, the better you will feel if you are suddenly laid off from work. Buy Mortgage InsuranceMortgage insurance is available that can help you pay your mortgage while you are unemployed. However, don't confuse mortgage insurance with Private Mortgage Insurance (PMI). PMI is a type of insurance you may be required to pay for each month with your regular mortgage payment. PMI protects your lender and pays them the balance of your loan in the event you default. This is for the sole benefit of your lender and doesn't help you prevent foreclosure. <br /><br />Find an insurance agent that sells mortgage protection insurance. The type of policy you need is one that will take over all or a portion of your mortgage payment should you become disabled or find yourself unemployed due to layoffs. Premiums may be high, but the alternative could be a more expensive foreclosure if you are out of a job.<br /><br />Remember, this is general information. Always seek sound financial and legal advice before making any financial decision.Rodney Gilberthttp://www.blogger.com/profile/07522229222382538286noreply@blogger.com0