Amanda Morrall discusses "no frills" retirement on Good Morning. – Video
Posted: August 29, 2012 at 9:14 pm
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Amanda Morrall discusses "no frills" retirement on Good Morning. - Video
TRUSTIVO Adds Access Control Advantage (ACA) to its Secure Social Retirement Network.
Posted: at 9:14 pm
BOSTON, Aug. 29, 2012 /PRNewswire/ --TRUSTIVO, the secure social retirement network transforms the way individuals and trusted advisors connect, engage and develop strategies for retirement. "The addition of ACA to our platform extends a unique and valuable service to our Retirement plan advisors, plan administrators, employers and plan participants," says Rad Pasovschi, Chairman of TRUSTIVO. "ACA's patented and automated loan processing solution is indeed unique in the market today," he says.
Access Control Advantage (ACA) provides an efficient loan solution for DC plan participants by lowering plan administration costs, eliminating loan repayment through payroll processing, reducing participant borrowing, enabling faster loan repayment, keeping more assets in the plans, and encouraging employee participation because of the knowledge that they can access their pension savings in an emergency. Because borrowing is more precise, employees only take out what they need when they need it, not a pre-determined lump sum. Also, if a loan is outstanding when an employee separates from their employer, ACA will continue to handle loan servicing on the same amortization schedule preventing the need to call for repayment of the loan during a difficult financial period for the employee.
"This is a win-win-win for recordkeepers, employers and employees because it reduces plan leakage and the cost of loan processing and at the same time, provides maximum payment flexibility and protection for the employee," says Bruce Bent II, President of ACA. ACA works with401k plans, 457 plans, and 403b plans.
TRUSTIVO's secure social retirement network transforms the way Boomers and trusted advisors connect, engage and develop strategies for retirement. Access Control Advantage (www.acaonline.com) is the pre-eminent industry source for loan administration for the financial services industry. Access Control Advantage, Inc. is an affiliate of Double Rock Corporation. Double Rock is a financial technologies company providing the industry's most innovative cash management and cash-related solutions to the broker-dealer, banking, qualified plan and retail direct markets.
CONTACT Beth ChapmanInk&AirPhone: (508) 479-1033 beth_chapman@inkair.com
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TRUSTIVO Adds Access Control Advantage (ACA) to its Secure Social Retirement Network.
Political Risks to Your Retirement
Posted: at 9:14 pm
JP
Brace yourself for political drama, because we are nearing the final stretch of the presidential election. As all elections go, promises will be made and broken, character attacks will consume every free minute of TV advertising, and each side will accuse each other of threatening the financial future of everyday Americans.
The problem is it may not matter which side is elected. Many of the major political policies being proposed by either party have severe consequences for future retirements. While there is no way to fully avoid potential losses to your retirement via changes in legislation, there are some actions you can take to mitigate risks.
Tax Increases
Over the last 25 years, taxes on the middle class have mostly fallen. Some would argue that we are overdue for higher income taxes.
The last thing any retiree wants to see is Uncle Sam take a bite out of his retirement thanks to tax increases. Luckily, a Roth IRA account is designed to shield you from future income tax increases. Contributions to Roth accounts are made after tax. When you withdraw your money in retirement the proceeds are tax-free. It ensures that the highest tax rate that youll pay is your rate at the time you make contributions.
Income Tax Decrease and Adoption of a National Sales Tax
I wish I could say open a Roth IRA and your retirement is safe from tax policy. Unfortunately, there is a particular scenario that could put Roth savers at a serious disadvantage. What if income taxes decrease and the nation adopts a new tax, like a VAT or sales tax, to replace lost revenue?
If taxes are to decrease in the future, then Roth savers made the wrong bet since theyd be saving when taxes are high and receiving a tax advantage when taxes are low. A new VAT or national sales tax would make the problem worse since Roth tax advantages are limited to income taxes. Roth savers would be paying more tax money to contribute funds and paying more tax money to withdraw funds. They lose at both ends of retirement saving.
This isnt a made-up scenario. In fact, politicians on both sides of the aisle have supported this exact policy. Former Republican frontrunner Herman Cain ran on a plan for a 10 percent income tax and 10 percent national sales tax. Romneys vice presidential pick, Paul Ryan, has also supported similar policies in the past. Obamas debt commission supported the same strategy.
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Political Risks to Your Retirement
Financial Telesis, Inc. to Partner With ABD Retirement Services
Posted: at 9:14 pm
SAN RAFAEL, Calif.--(BUSINESS WIRE)--
Financial Telesis, Inc. (FTI) announces ABD Retirement Services, a division of ABD Insurance & Financial Services, has joined the FTI team. The alliance marks an exciting step for Financial Telesis bringing ABD Retirement Services representatives on board is the latest in a growing number of retirement plan specialists that haven chosen FTI as their broker dealer/registered investment advisor.
"We are very pleased to have the team at ABD Retirement Services join forces with our Financial Telesis team," notes James Williams, President of FTI. "They are exactly the type of rep/advisor that we are seeking experienced, professional, and committed to providing plan sponsor clients with outstanding fiduciary level services. ABD Retirement Services had many broker dealer options, but elected to engage with Financial Telesis and affiliate with a BD/RIA that understands the retirement plan marketplace. We share their passion for providing fiduciary services to their plan clients."
Chris Call, President of ABD Retirement Services is also enthusiastic about joining the FTI team: "We chose Financial Telesis because we wanted to align ourselves with a top-notch retirement investment specialist, and they rank as one of the best." The veteran financial professionals at ABD Retirement Services are well established in Northern California. The group has worked together since 2005 and has built a reputation for innovation always looking for better ways to serve their clients. This responsiveness fits with FTI's tailored approach to meeting the needs of its representatives.
About Financial Telesis Inc. (FTI)
Financial Telesis, Inc. is a comprehensive financial services firm catering to registered representatives and investment advisors that work with retirement plans as well as retail customers. FTI has over 430 registered representatives and advisors, and over 200 offices across the U.S. FTIs home office is located in San Rafael, California. More information can be found on the FTI website at http://www.financialtelesisinc.com.
About ABD Insurance & Financial Services
ABD Insurance and Financial Services is a collective with more than 75 years of history in the insurance industry. ABD is headquartered in San Mateo, with additional offices in San Francisco, Redwood City and San Jose. ABD is an independently owned and operated insurance brokerage and has no affiliation with Wells Fargo Insurance Services or its predecessor firms. More information can be found on the ABD website at http://www.theABDteam.com.
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Financial Telesis, Inc. to Partner With ABD Retirement Services
Postponing Retirement: Will You Have to Work Forever?
Posted: at 9:14 pm
5 tips for readjusting your financial game plan.
I heard from an old friend recently who had been financially responsible her whole life, but a layoff several years ago derailed her savings. Now shes nearing 60 and panicked about whether shell be able to retire when she had originally planned to if at all. Sound familiar? As the slowly recovering economy plods along, and many Americans confront shortfalls in retirement savings, these are common refrains from baby boomers and generation X.
It can be a shock to realize that your much-anticipated retirement may not happen on the day or month or year you initially envisioned it and in the style you dreamed about. But many Americans are continuing to work past the traditional retirement age of 65 or are re-entering the workforce after theyve retired. July data from the U.S. Bureau of Labor Statistics shows that 7 million Americans age 65 and older were still in the workforce, up 63% from a decade ago. Some may continue working by choice, but many are likely still working due to financial necessity.According to new survey findings from the Society of Actuaries, more than 4 in 10 pre-retirees who do not expect to retire say its because they cant afford to do so.
(MORE:Stay-at-Home Parents: Six Money Secrets for Families Shifting to One Income)
To add to the stress, the emotional adjustment can be an even bigger challenge if youre reconsidering your retirement date. So if youre looking at your financial statements with a gulp, what can you do?
1. Dont get hung up on age. You might think of 65 as being the year that you should retire. But consider when and how this traditional retirement date originated and whether it makes any sense today. In 1935 the Social Security Act set the minimum age for receiving full retirement benefits at 65. But men born in 1930 were only expected to live until age 58. Today the average life expectancy is 75 for men and 80 for women. So look on the bright side: you might need to work longer because youre probably going to live longer.
2. Understand your options now and later. When calculating your retirement date and income, its important to get your financial facts straight about future income sources. Make sure you fully understand your Social Security benefit and what types of accounts your savings are held in. Determine how much your savings may grow if you work for another six months, one year, five years, etc. You may be surprised by how much your nest egg could increase if you delay withdrawals from your tax-deferred employee sponsored plan, such as a 401(k) or 403(b), by staying in the workforce for just a bit longer.
(MORE:Kids and Money: Is It O.K. to Play Financial Favorites?)
3. Focus on your health. Many people want to keep working past traditional retirement age but have health problems that prevent them from doing so. If your plan is to stay employed, its critical to do everything you can to maintain your physical health so you may work as long as you desire. Ensuring that you get adequate exercise, sleep and nutrition can actually be very important financial considerations. Similarly, its critical to have adequate health care coverage in place. A recent survey of retirees from the Society of Actuaries indicated that 24 percent of those interviewed were working in retirement in order to maintain employee benefits like health insurance a valid financial reason to keep punching the clock. However, taking the time to understand the benefits of Medicare can be advantageous as you make employment choices.
4. Reconsider what kind of work you do. Retirees are going back to work for a variety of reasons. While the Society of Actuaries survey indicated that 51 percent of retirees who are working in retirement are in it for additional income, an even greater percentage (55 percent) say theyre still in the workforce because they want to stay active and engaged. If youre working for a living, it might be helpful to think about how work will help you create and maintain your social life, sense of belonging and productivity. If you dread Monday mornings, your decision to stay in a 9-to-5 job may make you feel caged. So liberate yourself by finding something you love to do that will still provide a paycheck. Its not too late to make a career change into a full-time or part-time job that will help you maintain meaning or challenge you.
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Postponing Retirement: Will You Have to Work Forever?
Sony gets in your face with upgraded personal 3D viewer
Posted: at 9:13 pm
The headsets are coming, the headsets are coming! The disturbing trend of consumer electronics companies wanting to perch on your mug continues.
Would you wear one? (Click to enlarge.)
Coinciding with many other announcements during its presser today at the IFA 2012 confab in Berlin, Sony quietly launched the HMZ-T2 personal 3D head-mounted display.
The headset -- vastly similar to its predecessor (the HMZ-T1) -- contains two small 0.7-inch OLED (organic light-emitting diode) displays placed in front of the wearer's eyes that simulate a big screen and can display 2D/3D content from any HDMI source. Crave sent Sony an e-mail to see if the HMZ-T2 offers the same 720-pixel resolution and picture quality as before, which seems likely, as T2's marketing babble reads very much like that of the HMZ-T1. We'll let you know.
Who wouldn't want to get up close and personal with a couple of vibrant OLED screens? (Click to enlarge.)
So what's really changed with the HMZ-T2 in this incremental upgrade? It appears the tweaks have mostly to do with design and weight. Sony dropped the built-in headphones, and now you can use whatever ear digs you like to hear virtual 5.1 surround sound. The headpiece also weighs 20 percent less than the previous version, coming in at seven-tenths of a pound.
It appears the HMZ-T2 might sport a slight upgrade to its actual visual performance as well -- Sony speaks of a 24-pixel True Cinema option, as well as a Clear mode for gaming.
Crave also checked in with Sony's U.S. sleeve to learn more about when we should expect the HMZ-T2, and how many simoleons it should cost. Stay tuned.
The HMZ-T2's profile looks like some sort of robo-fish. (Click to enlarge.)
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Sony gets in your face with upgraded personal 3D viewer
This Smartphone Component Maker is Looking Good
Posted: at 9:13 pm
By Rajesh Marwah - August 28, 2012 | Tickers: AAPL, LPL, MSFT, NOK | 0 Comments
Rajesh is a member of The Motley Fool Blog Network -- entries represent the personal opinions of our bloggers and are not formally edited.
The success of a smartphone is not the phone makers success alone. It is also the success of its component providers as well as operating system provider, as each of them plays a major role in deciding the fate of the device. These component makers are often left unnoticed, but play an essential part behind the scene. Every year the Cupertino company not only delights hordes of its fans with the release of the newer redesigned version of its iPhone, but it adds to the profits of its component makers as well.
This year as Apples (NASDAQ: AAPL) iPhone 5 makes it big, its display component provider LG Display (NYSE: LPL) will also benefit hugely. Stock prices of Apple are expected to surge once the company announces its newest tech wonder on September 12 and experts are of the opinion that the companys market capitalization could hit the $1 trillion mark from the current market capitalization of $621 billion. The success of the worlds most valuable technology company will also in turn benefit other players in its value chain.
LG's association with Apple The worlds second largest LCD producer, LG Display, is a key supplier of flat screens to Apple for its iPhones and iPads and now it is expected to supply the flexible OLED displays to the iPhone maker. Mr. Han, the Chief Executive of the Korean company, officially announced that the company has started the mass production of a revamped and thinner display with improved image quality. The iPhone maker has already secured a patent early this month and thus will be the first one to incorporate this in-cell technology and get an advantage over other comparable smartphones.
Apple is preparing to unveil the new iPhone with 30 percent bigger panels than its earlier version in response to Samsungs latest 4.8 inch super AMOLED screen Galaxy S III smartphone. The in-cell technology is the latest development in this space and Apple is going to put this technology in its latest iPhone to make its screen slimmer than before. The in-cell technology helps in integrating the touch sensors straightaway in the display and does not require another touch screen layer. This enables the display to be slimmer, which releases space for other components such as a bigger battery. Also, this so called in-cell technology claims to improve the lifespan of the smartphones by 60 percent compared to the present ones.
When compared to the AMOLED display, this display will not only be sharper, crispier and brighter but it will also use 70 percent less battery. These in-cell screens are complicated and thus more difficult to make and so a shortage of these screens due to production complications could disrupt the flow of iPhone 5 into the market. However, LGs management feels they have experienced all the complexities there could have been and now expect a smooth supply of the panels. Other than this Korean company, there are two more Japanese makers, Sharp Corp. and Japan Display Inc.who are also expected to supply panels using the in-cell technology for the upcoming iPhone.
The much needed boost Things havent been very smooth for the display maker lately and the company reported a net loss of $99 million in its recently ended quarter, though revenue had increased by as much as 14%. The main reason behind the red bottom line was the $175 million that it had to pay to settle a US price-fixing lawsuit. However, the management is pretty optimistic about the future of the company and also commented that it has returned to a profit zone already.
LGs association with Apple is surely going to further improve the situation. Just like Microsofts (NASDAQ: MSFT) Windows Phone 8s success is expected to have an impact on Nokia (NYSE: NOK) and thus pull the Finnish phone maker out of trouble; even iPhones success will help push up the top line of the display maker. Analysts are very hopeful about Nokias revival with the new Windows platform and this signifies the power of being in an ecosystem where each player is benefited from the success of the end product.
The success of the latest iPhone will surely have a roll over effect on LG Displays performance also, and once the device is a super hit and experiences huge demand, even LG will face increased demand for its product and, with time, when LG attains economies of scale, its margins will improve. The FBR Capital analyst Craig Berger estimates that Apple could sell as many as 250 million units of iPhone 5 and such a huge figure can significantly contribute towards LGs revenue numbers and give it the much needed boost. So, LG must be as excited as the customers and is surely looking forward to the September 12 event. The iPhone 5 launch could turn out to be one of the biggest events in Apples history as the demand for the device skyrockets.
Youth want financial education in the classroom
Posted: at 9:13 pm
Seven in 10 Teens Say Knowledge of Personal Finances a Must According to New Investor Education Fund (IEF) Study
IEF Answers Youth Financial Literacy Study Findings with New Tools to Inspire Financial Learning in Schools
TORONTO, Aug. 29, 2012 /CNW/ - By the time Ontario's teens finish high school, most will have begun to navigate the world of earning and spending money, but new research reveals that they may not be prepared with the money management skills they need - and want - for life after graduation.
Seventy per cent of Ontario high school students say that learning how to manage their personal finances is important or very important, according to a new study from the Investor Education Fund (IEF) (www.GetSmarterAboutMoney.ca), a leading Canadian authority on financial literacy, financial education and research. The study also revealed that 69 per cent of students think personal finance lessons should be taught in the classroom, an increase of 12 percentage points from a similar study done in 2009.
However, only four in 10 respondents feel they are somewhat or very prepared for managing their personal finances after high school, and only about one-quarter say their schools provide them with most or all of the financial information they need. The feeling of being prepared was highest when the schools provided most or all of the available information.
"High school students are just a few short steps away from post-secondary education or entering the workforce. Learning how to use a budget, manage debt responsibly and save money are essential life skills for young adults," says Tom Hamza, President of IEF. "Students will stand a much better chance of long-term financial success if their schools prepare them with these skills."
Other key findings:
Helping teachers prepare the next generation Building on a decade of experience working with teachers to inspire students about financial literacy, IEF has launched a new suite of entertaining and interactive teaching tools. The lesson plans and tools were developed in partnership with the Ontario Institute for Studies in Education (OISE) at the University of Toronto and are designed to teach students how to apply relevant financial concepts to their lives.
Lesson plans start in Grade 4, where students develop financial vocabulary, use financial symbols and terminology, identify the forms of currency and make simple purchases in simulated situations, to Grade 12, where classes become fluent in financial terminology, create complex personal and family budgets and analyze the role of individual responsibility in saving, among other money lessons. These teaching resources are available for free at InspireFinancialLearning.ca, a new website designed to help teachers quickly and easily access financial literacy tools.
"Reaching students starting at a young age, with financial information that engages their interests, is the key to making good money habits a lifetime habit," says Hamza. "We hope and expect that this will have a positive impact on Ontarians' financial literacy in the long term."
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Youth want financial education in the classroom
Success Kid Will Answer Your Questions Live [UPDATE]
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Success Kid Will Answer Your Questions Live [UPDATE]
The Alternative Board Releases New Book: Strategic Business Leadership
Posted: at 9:13 pm
WESTMINSTER, Colo., Aug. 29, 2012 /PRNewswire/ -- Bestselling author, Allen Fishman's new business book, Strategic Business Leadership: The Proven Formula for Greater Company Success does exactly that.
(Photo: http://photos.prnewswire.com/prnh/20120829/LA65070)
Whether you are a business owner or an executive/manager in a privately owned business, Fishman's book reveals the methods you need to take control ofand get what you want fromyour business.
Fishman's proven Strategic Business Leadership formula has assisted business owners around the world to achieve their dreams.Fishman uses case studies to show how the Strategic Business Leadership formula can be customized to businesses ranging in revenue from the smallest size companies, with no management team, to companies generating over $100 million per year with significant sized management teams.
Fishman is the Founder and Executive Chairman of The Alternative Board (TAB), which is the world's largest franchise system providing advisory group/board and executive coaching services for business owners and key executives. He has been featured in a variety of media venues, including CNBC, Bloomberg, the Wall Street Journal and USA Today.
With this book, Fishman now makes his Strategic Business Leadership formula for success available to all business owners and those who want to start successful businesses. "Strategic Business Leadership will show you how to strategically plan for the future," he says. "But the methods will also show you how to more fully appreciate and enjoy the present while working towards the future of your dreams."
Strategic Business Leadership takes you on a guided journey to:
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The Alternative Board Releases New Book: Strategic Business Leadership