Personal Finance: Paying debt vs. funding retirement
Posted: September 23, 2012 at 8:12 pm
What do you do if you are loaded down with credit card debt but you know you should be saving for retirement? Do you concentrate on getting rid of the debt, and put off saving in the 401(k) or IRA for later? Or do you save now, pay off later?
There are two different answers to this quandary: One may make you feel better and perhaps move you further in the long run because you will have a sense of accomplishment along the way. The other is actually the best answer, but will work only if you are disciplined about getting rid of credit card debt.
So here goes the possible feel-good approach: Given the rigors of saving for retirement late in life, I suggest young people combine getting rid of credit cards with some retirement saving at the same time.
That way you move yourself along on your debts and on your saving, and - best of all - you begin enjoying a delightful reward: You start seeing your savings build up and begin to imagine spending retirement comfortably instead of sitting in your La-Z-Boy without cable TV.
Simply consider the difference between a 20-year-old who saves a little each week, and a 45-year-old with nothing saved. If the 20-year-old invests just $20 a week in a stock market mutual fund in a 401(k) or an individual retirement account, that account can end up with $1 million at retirement if the stock market performs the way it has historically.
At 45, a person who has saved nothing will need to save about $245 a week to end up in the same place as the person who started saving $20 at age 20. For the illustration, I assumed both average 10 percent annually on investments. That's the average in the last 86 years, although too high for the last decade.
Yet research by David Blanchett shows that there is a better way. Blanchett is head of retirement research for Morningstar and recently completed an analysis looking purely at the numbers.
He found that if you can focus on what's best for you in the long run and tackle those credit card debts until you have wiped them out, you can then save for retirement with better results. His calculations show that you can potentially increase your 401(k) balance by 14.1 percent over the person who just made minimum payments on credit cards while also saving for retirement.
For his analysis, Blanchett assumed a person had $400 a month that could be used either for credit card payments, the 401(k) or both. He found that a 30-year-old with $15,000 in credit card debt who simply paid the minimum on the cards wouldn't get rid of the debt for 36.6 years. In other words, the person would finally be debt-free five months before retiring at age 67.
Lady Gaga’s privacy concerns are ‘ludicrous,’ former personal assistant alleges
Posted: at 8:12 pm
Lady Gaga has no private parts.
A Long Island woman who claims the pop star owes her hundreds of thousands of dollars in overtime pay says the singers recent demands for privacy in their court battle are ludicrous.
Gaga is probably the last person in the world to care about her privacy, exposing herself in all manner of bizarre and intimate ways for the world to see every day, lawyers for her former personal assistant, Jennifer ONeill, argue in court papers filed in Manhattan federal court Friday.
The singer struts on stage in underwear and torn fishnets, was shown smoking pot at a show and writhed around nearly nude for star photographer Terry Richardsons 2011 book, Lady Gaga x Terry Richardson.
FilmMagic
YES,THAT DRESS DOES MAKE YOU LOOK FAT! Lady Gagawho has admitted to packing on 25 poundsleaves her hotel in Paris yesterday in an especially figure-concealing outfit. The pop star was on her way to perform for her international BornThis WayBall tour. Speaking of her new curves, she has said, I really dont feel bad about it, not even for a second.
The book shows Gaga topless, with only her hands covering her boobs, lying with her legs spread, exposing a hole in the crotch of her stockings, and with her breasts exposed while putting on her famed meat dress.
Yet Gaga, born Stefani Germanotta, is fighting a subpoena from ONeill seeking Richardsons unpublished photos, calling them private and personal in court papers.
ONeill says the photos will show her toiling for Gaga, from her bedroom to backstage costume changes on her 2010 Monster Ball tour, during which a five-person team helped switch stars outfit 17 times per performance. ONeills image is not in the book.
I was frequently at Ms. Germanottas side, often ready with coffee and/or water, from dawn to dawn, ONeill says in court papers. I was glued to Ms. Germanotta to such an extent that at one point I was asked . . . to step back so that I would not be in the way during photo shoots.
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Lady Gaga’s privacy concerns are ‘ludicrous,’ former personal assistant alleges
SUCCESS & SERVICE: U.S. Masters honors MJC swim coach
Posted: at 8:11 pm
Modesto Junior College swim coach Kurt Olson received the Kerry O'Brien Coaching Award from the U.S. Masters Swimming Organization. The award recognizes coaches throughout the United States who are building membership in communities and who embody the passion, dedication and heart that master swimming coaches bring to the pool deck. Olson was one of seven recipients named for the award at the U.S. Aquatics Sports Convention that was held Sept. 16 in Greensboro, N.C. He also is the founder and head coach for Modesto Area Aquatic Club, a master's swim club.
Stanislaus Consolidated Firefighters Local 3399 this week sent a check for $6,545.87 to the Firefighters Burn Institute in Sacramento. The local firefighters raised the money through their "Fill the Boot for Burns" drive. The Institute uses the money to improve burn care and help burn survivors in their recovery.
Beyer High's Heidi Pagani will be recognized Oct. 1 by Stanford University, which honors K-12 teachers through its Teacher Tribute Initiative. Incoming freshmen are asked to select one former teacher or mentor who "played a significant role in their intellectual, academic, social, and personal development." Liana Yates, a Beyer graduate and current Stanford freshman, nominated Pagani for the honor.
Modesto resident Michele Durante received a $25,000 tuition scholarship to attend the Art Institute of California in San Francisco. The scholarship is given by Military Families United, a national coalition of Gold Star and Blue Star families, veterans and patriotic Americans.
Durante lives here with her husband, David Zuehlke, a National Guard reservist based in Fresno.
Silkwood Wines, owned by John and Judie Monnich and made with Modesto-area grapes, racked up several medals at recent competitions.
The 2007 Satin and Silk Vintners Select petite sirah won double gold at the Florida State Fair, gold at the Orange County Fair and gold at the Consumer Wine Awards at Lodi.
The 2007 petite sirah won class champion at the Houston Livestock Show and Rodeo Wine Competition, best of class and double gold at the Indianapolis Wine Competition, gold at the Sunset International Wine Competition, gold at the Orange County Fair and platinum and best of class at the Lodi event.
The 2008 syrah and Red Duet received gold medals in Lodi.
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SUCCESS & SERVICE: U.S. Masters honors MJC swim coach
Generating success for farming professionals
Posted: at 8:11 pm
Sharon Paterson, with her prize-winning sheep, at the Wyndham A and P Show. Photo supplied.
The Generate programme, which includes nine workshops covering topics as varied as people skills and marketing, leads to a certificate in rural leadership.
Lucy Thomson-Ryan, who will present the Dunedin programme, said Generate "offers so much for people at all ages and stages in their lives".
"I've seen older women blow the group away as they develop self-confidence and presentation skills and younger people experience personal growth and unlock their potential.
"The team dynamics are as valuable as the content. Often older, wiser minds provide direction and younger people add a different aspect and fresh way of looking at things," she said.
Generate is a national programme delivered by Taratahi Agricultural Training Centre at centres around New Zealand.
Sharon Paterson, a Generate Gore graduate and FMG rural manager, particularly valued the presentation and people skills she took from the workshops.
Alongside her working life with FMG, Mrs Paterson manages four sheep studs and a cattle stud with her husband.
"I have been in farming all my life.
I looked to the programme to help me develop more personal confidence and self-confidence in speaking with people. Generate exceeded my expectations.
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Generating success for farming professionals
Hedgren Style Clinic 2012
Posted: at 8:10 pm
Sunday, September 23, 2012
HEDGREN Philippines together with Sacred Heart School- Hijas de Jesus Alumni Association hosted the Hedgren Style Clinic in Cebu.
Former Beauty queen, Abby Arenas-de Leon conducted the personal development workshop to 144 attendees, who are faculty members and Alumni of the school. Abby discussed the topic on Manners of everyday life and Decoding the dress code.
Check our new look and tell us what you think.
The event was even more ignited with raffle prizes and giveaways. Hedgren also gave out Hedgren bags to some lucky winners.
Hedgren gave out 20 percent discount on all regular priced items during the event. On top of this, they also extended the promo to their stores present in Cebu specifically, The Travel Club and Ladybag stores. Students, alumni, faculty and personnel of the school could avail themselves of the discount in the stores when they present their IDs.
Published in the Sun.Star Cebu newspaper on September 24, 2012.
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Hedgren Style Clinic 2012
Participants are just tickled by Laughter Yoga
Posted: at 4:20 am
Laughter is an expression that comes easily with the innocence of youth.
But with the coming of age, a good giggle or guffaw can be harder to muster.
So when Hermosa Beach resident Matthew Rand heard about Laughter Yoga, he was intrigued. Basically finding ways to make yourself laugh as a form of exercise, Laughter Yoga has been growing in popularity since it was launched in India in 1995.
"With the stress of school, work and everyday life, people tend to really have to work to express what someone is feeling through laughter as opposed to just letting it out as children do," Rand said.
The idea of loosening up one's ability to laugh more often sounded rewarding on many levels. Once he began attending sessions, he quickly became a Laughter Yoga teacher and recently created the Hermosa Beach Laughter Club through Hermosa Five-O, the city's senior activity center, which is open to any South Bay resident at least 50 years old.
As a volunteer, Rand has been holding sessions the last two months for a half-dozen members who have already seen the benefits of Laughter Yoga.
Rand said the free sessions aim to bring out that "childlike" personality that everyone has embedded within themselves. The club meets every Thursday from 5-6 p.m. at the Hermosa Beach Community Center. During meetings, the group goes through 15 laugh exercises that last about 45 seconds each.
Rand said it's all about triggering certain parts of the
"It is based on the scientific fact that the body does not know a difference between fake or pretend laughter and real laughter," Rand said. "In a good group with good eye contact; the fake turns real very quickly."
Rand said Laughter Yoga is extremely popular on an international level, with 9,000 laughter clubs in 85 countries.
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Participants are just tickled by Laughter Yoga
Liberty University Employees Health
Posted: at 4:18 am
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Liberty University Employees Health
Shields and Brooks on Romney’s Clean Bill of Health and MLB Playoffs – Video
Posted: at 4:18 am
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Shields and Brooks on Romney's Clean Bill of Health and MLB Playoffs - Video
Afton Health and Fitness Equipments, E-Seva Lane, Dr. AS Rao Nagar, ECIL, Hyderabad – Video
Posted: at 4:18 am
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Afton Health and Fitness Equipments, E-Seva Lane, Dr. AS Rao Nagar, ECIL, Hyderabad - Video
Space shuttle Endeavour flies a last lap of honour over Los Angeles before retirement – Video
Posted: at 4:18 am
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Space shuttle Endeavour flies a last lap of honour over Los Angeles before retirement - Video