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Changes to Old Age Security-BMO Retirement Institute Offers Tips on How Canadians Can Prepare for Retirement

Posted: March 31, 2012 at 6:30 am


TORONTO, ONTARIO--(Marketwire -03/30/12)- A number of Canadians aged 54 and under will be affected by changes to Old Age Security (OAS) announced in the Federal Budget. In 10 years the age for OAS eligibility will rise from 65 to 67.

OAS benefits are currently paid to Canadians aged 65 and over; individuals can receive up to a maximum of nearly $6,500 per year based on meeting residency requirements.

According to a report by Harris Decima commissioned by the BMO Retirement Institute, 32 per cent of Canadians aged 25-54 will rely on OAS, the Canadian Pension Plan (CPP) and the Quebec Pension Plan (QPP) as their primary source of retirement income.

Tina Di Vito, Head of the BMO Retirement Institute, advises Canadians to adopt a long-term approach to saving for retirement and understand the right tax strategies to maximize old age security benefits. These strategies, despite the changes announced in the Federal Budget, enable income to be earned from the most advantageous sources.

BMO offers tips on how Canadians can prepare for retirement:

To learn more about retirement income strategies and to read Retirement Institute reports, please visit: http://www.bmo.com/retirementinstitute.

Get the latest BMO press releases via Twitter by following @BMOmedia.

This study was conducted by Harris/Decima using their proprietary online panel. A total of 1,008 Canadians ages 25 to 64 were surveyed between November 10th and 24th, 2011.

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Changes to Old Age Security-BMO Retirement Institute Offers Tips on How Canadians Can Prepare for Retirement

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March 31st, 2012 at 6:30 am

Posted in Retirement

WUSHU SHAOLIN KUNG FU ONLINE DISTANCE EDUCATION COURSE – Video

Posted: at 6:29 am



29-03-2012 23:31 Wushu Shaolin Productions has developed an easy to use and effective online course for all enthusiasts interested in learning Kung Fu but are unable to attend a school or learn from a teacher nearby. The progam allows anyone interested in learning Kung Fu with the tools necessary to not only learn but earn a Black Belt as well.

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WUSHU SHAOLIN KUNG FU ONLINE DISTANCE EDUCATION COURSE - Video

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March 31st, 2012 at 6:29 am

Posted in Online Education

Online education discussed at Steubenville Rotary Club

Posted: at 6:29 am


STEUBENVILLE - The advances in online education were discussed during Friday's luncheon meeting of the city Rotary Club at the city YWCA.

Nick Trombetta, chief executive officer of Pennsylvania Cyber Charter School; Mike McVey, superintendent of Steubenville City Schools; and Chuck Kokiko, curriculum director for the Steubenville Cyber Academy, told Rotarians cyber schooling for education was the wave of the future.

Trombetta said the Midland, Pa.-based cyber school had approached the Franciscan University of Steubenville about developing an online program for its online instructors to further their education.

"We asked (several colleges and universities) if it could put together a master's program," he said. "Franciscan University was the only school to say yes. Franciscan University embraced it."

Trombetta said the program was growing, and 50 graduates recently completed the university's online program. He also briefly discussed how the online charter school was a model for others throughout the nation, including how it took a small steel town and turned the area into an major, widely-respected educational hub.

Before introducing Kokiko, McVey told Rotarians establishment of the school district's cyber school was necessary if the district was to thrive in the future.

"We have to go this way," said McVey, adding the district was losing too many students and state funding to charter schools. "It's now competitive. This is where education is going. It's also the fiscally responsible way to go."

In discussing the district's cyber school, Kokiko cited statistics on the rise of online learning nationally and internationally.

"There will be a 158 percent increase in online learning in the next five years," said Kokiko, adding $2 billion was spent on online learning in 2011-12.

He said the Steubenville Cyber Academy was purchasing online curriculum through the National Network of Digital Schools, which serves more than 300 school districts nationwide.

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Online education discussed at Steubenville Rotary Club

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March 31st, 2012 at 6:29 am

Posted in Online Education

Bettendorf coaching legend in hospice care

Posted: at 12:55 am


Merv Habenicht first endeared himself to Bettendorf and the Quad-Cities straight out of college more than 50 years ago.

In that time, hes touched dozens upon dozens of lives as an educator, a football coach and a quality human being.

Some four months after being diagnosed with pulmonary fibrosis a disease which causes scar tissue to overwhelm lungs preventing oxygen from being transferred to the bloodstream Habenicht was moved into hospice care last week.

Also afflicted with Alzheimers disease for the past year, the 77-year-old Habenicht is expected to live for another week or two. Evelyn Habenicht, his wife of 58 years, encourages friends to come and express their appreciation and love.

The response has just been fantastic, Evelyn Habenicht said. And Im not surprised.

Merv Habenicht won 228 games, five state championships and 10 Mississippi Athletic Conference titles in 29 seasons as head football coach at Bettendorf. He resigned following the 1999 season when he retired after 40 years of teaching at age 65.

Since exiting as coach, Habenicht continued to be a visible figure in the high school football community. He served stints as an assistant coach at Davenport Assumption, United Township and Davenport North in the few years following his departure from Bettendorf. In 2007, he served as a volunteer assistant with the Quad-City Steamwheelers.

Even through last fall, the Quad-City Sports Hall of Fame inductee regularly attended the weekly Davenport Grid Club luncheons.

To anyone who knew him, Habenicht was about much more than wins, though he didnt especially like losing.

When kids needed a father figure, that was what he did, said John Lavelle, who assisted Habenicht from 1976 to 1996. Sometimes it used to drive us crazy because hed get kids out for football that didnt fit our mold.

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Bettendorf coaching legend in hospice care

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March 31st, 2012 at 12:55 am

Posted in Life Coaching

My Fitness and Healthy Snack – Video

Posted: at 12:55 am



29-03-2012 23:45 SUBSCRIBE FOR A CHANCE TO WIN A Brush Set and Makeup! Hi Friends! This is a video on my fitness routine and some of the healthy snacks I am loving at the moment. These snacks have helped me get through some of the cravings I have been having. Please let me know if you would like to see more. Thanks so much for watching! Oh and I have a couple of tutorials coming up very soon! xoxo MARCH GIVEAWAY! Just Say NO to Coffee video SNACKS: Skotidakis Jalapeno Greek Yogurt Dip with Cucumbers Ann'a House Unsalted Mixed Nuts Being Blue Premium Grade Seaweed Kirkland Salt & Pepper Pistachios I have a Facebook now!! Check out my Blog! My Camera- Canon Rebel T3i Editing Software- Adobe Premier Follow me on Twitter http Shop Hautelook for AWESOME deals! Follow me on Pinterest! (WARNING: Its addicting!) My Favorite Brushes! Use Code MARCH2012 for 10% off!

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My Fitness and Healthy Snack - Video

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March 31st, 2012 at 12:55 am

Posted in Health and Fitness

7 Days of Healthy Lunches

Posted: at 12:55 am



30-03-2012 08:16 Hey guys! You asked for it, and here it is! This video goes over how I make 7 days worth of healthy meals (lunches and dinners) in 1.5hrs! Yes, it is possible! Take a look and let me know what you think!! I'm always open to suggestions as well, so if you have some... let me know! If you try it... let me know how it goes!! See you all in the next video! :0) Here is the link to the NEW FITNESS Channel! For more fitness tips, follow me on twitter @luvbeinnatural Like the Facebook Fan Page for health & fitness tips!

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7 Days of Healthy Lunches

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March 31st, 2012 at 12:55 am

Posted in Health and Fitness

Circle Park holds ribbon cutting for its new health and fitness room

Posted: at 12:55 am


FLORENCE, S.C. --

Circle Park Behavioral Health Services and its Chrysalis Center hosted a ribbon cutting ceremony to announce its new health and fitness room that was funded by a grant from Florences Women in Philanthropy and the Junior Welfare League.

Thelma Alexander, Chrysalis Center Director, said, We are excited to be establishing a health and fitness room and provide nutritional counseling for our residents. This will allow us to ensure an enhanced holistic approach to services that we can provide to our women and increase their opportunity for a successful recovery.The Women in Philanthropy and the Junior Welfare League share our mission to improve the quality of life of children and families in our community and it is a thrill to partner with them on this effort.

The Chrysalis Center is a unique, 16-bed, extended residential treatment facility that offers chemically dependent mothers the opportunity to receive intensive treatment services while continuing to have their childrenyounger than 11live with them. Research indicates that while undergoing treatment, women often replace their drug of choice with a food addiction and often demonstrate unhealthy weight gains, as much as60 pounds in the first year. Compounding the problem, children often model their eating behaviors after their parents and as their parents weight increases, so does theirs.

The Junior Welfare League of Florence and the Women in Philanthropy provide a powerful and highly personal approach to improving the quality of life through their volunteer support and efforts in the Florence community.Their grant funding insures that innovative and effective strategies are utilized to foster social, economic, educational, cultural improvement in our community. In order to address the serious health issue of mothers experiencing addiction issues, the Chrysalis Center received grant funding from these two civic organizations to establish a fitness and exercise room to be incorporated into the weekly treatment plan for the residents.

Beverly Hiller of The Eastern Carolina Community Foundations Women in Philanthropy shared that most of the groups grant funding is targeted toward the needs of women and children.

This is a wonderful opportunity to collaborate with Circle Park Behavioral Health Services and its Chrysalis Center to provide a unique and innovative addition to their services.This is one of the nine grants that we awarded this year and it is wonderful to have an opportunity to visually witness and experience the impact it will have on the lives of the women receiving services here."

The grants goals are for the Chrysalis Centers residents to exhibit a more consistent and disciplined approach to daily exercise, demonstrate improved nutritional habits, and model healthier lifestyle habits that will support their overall recovery efforts.This will be done by the establishment of an onsite health and fitness room that will include a variety of exercise equipment and machines that will be utilized regularly by the Chrysalis Centers residents to support the grants goals.Also, as part of this funding, the Chrysalis Center residents will receive a weekly group counseling session by a registered dietician to assist them in making healthy food choices and meal planning.

The Chrysalis Center is operated and managed by Circle Park Behavioral Health Services, the Florence County authority on alcohol and other drug abuse services. For more information on the services available at the Chrysalis Center, call 843-673-0660.

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Circle Park holds ribbon cutting for its new health and fitness room

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March 31st, 2012 at 12:55 am

Posted in Health and Fitness

Forced Into Retirement? Here's How to Cope

Posted: at 12:55 am


Forced retirement is a fact of life for a growing number of baby boomers and can be just as traumatic as divorce or the loss of a family member. When you're suddenly facing retirement because your company has closed, given you a buyout or eliminated your job, myriad financial issues can have an immediate impact on your goals and dreams for the future.

According to a 2011 survey from the Employee Benefit Research Institute, 45% of retirees said they stopped working earlier than they expected. The three most common reasons were poor health (cited by 63%), corporate downsizing or closures (23%), and the need to care for a spouse or other family member (18%).

Christine Moriarty, CFP and the founder of MoneyPeace, recommends that you be defensive in case you have to retire early by following time-tested advice, especially if you're in your 50s. "Have enough money liquid at a local bank to cover your basic needs for at least six months," she says. "This way, you won't have to react to a circumstance and can adjust in a more structured way after the immediate crisis has passed."

Moriarty also suggests that boomers consider paying off their mortgage as soon as they can. "The lower your home loan, the more manageable it is in times of crisis."

Not only is this sound financial advice during a difficult financial transition, but a Consumer Reports survey published in 2010 found that about three-quarters of retired people who had paid off their large debts, including mortgages, had a high level of satisfaction with their lives.

Whatever the reason for a forced retirement, it stirs up a host of big questions and issues such as: Should I start receiving Social Security immediately? Live off my savings or take distributions from a retirement plan? Do I need to reshuffle my investments to make up for lost savings or shield myself from future losses?

Many forced retirees need to apply for Social Security right away in order to pay everyday bills, according to Andy Landis, author of "Social Security: The Inside Story." But any decision on whether to accept early Social Security benefits at a reduced rate or delay benefits for higher future payments does not have to be permanent. "For those who aspire to return to the workforce, the system and payment calculations don't penalize you; they actually adjust automatically for you," Landis says.

That means if you return to work and earn more income than you're allowed, your Social Security payments will automatically stop. Landis says when you reach your full retirement age, you'll be re-credited for any months in which payment was halted.

Your Social Security payments could increase as a result of inflationary adjustments, and if you resume working and paying into the system, your lifetime Social Security earnings could increase as well.

Knowing how and when to use various retirement savings is important when you're suddenly forced to retire. The options for those with retirement plans such as 401(k)s and 403(b)s can be dizzying and add to an already stressful and anxious time.

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Forced Into Retirement? Here's How to Cope

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March 31st, 2012 at 12:55 am

Posted in Retirement

Renting to Retirement: Six Factors to Consider

Posted: at 12:55 am


When he was 39, Mark Brandemuehl bought a home in Colorado properties with the intention he'd retire there.

But until the day comes when he leaves the workforce and enter retirement, he plans to rent out the properties and have them pay for themselves until he is ready to move in. With rock-bottom home prices and mortgage interest rates hovering around 4%, Brandemuehl, who is on the hunt for his third property, isnt the only one with this idea.

A 2011 survey by vacation rental booking site HomeAway.com shows 14% of vacation rental owners purchased their home to be used during retirement and are renting it out in the meantime. Some homeowners rent out their second home for a limited time each year while others seek longer terms with one-year or longer leases.

The National Association of Realtors reports rental income influenced 71% of second home buyers who purchased in 2011, nd 91 percent of them plan to rent their new purchase within 12 months.HomeAway.com members generate $28,000 annually by renting their home about 19 weeks a year, and half of the sites owners can cover 75% or more of their mortgage by renting to travelers.

Renting out a house until retirement rolls around offers many advantages. Real estate yields are usually much higher than the average stock market return, and buying a retirement home for the future can provide enough cash flow to pay for and even completely payoff the home by the time you move in, says Brandemuehl, who is also vice president of real estate site Movoto.com. Retirement and vacation destinations usually provide a reliable, gainfully employed stable of tenants; Brandemuehl's properties have been vacant less than six months total in the last seven years.

But being a landlord requires a lot of work and extensive planning. You could potentially become upside down on your investment or encounter heated or confrontational situations with tenants, says Mia Melle, a broker with property management firm RentToday.us.

You might also decide not to live where you bought the property, or the property could unexpectedly become vacant or misused. Higher-end homes, are harder to rent, according to Brandemuehl, so be prepared to advertising heavily.

Here are six expert tips to consider before buying a retirement home to rent:

Run the numbers. Renting out a second home can be a great opportunity if the rental income covers your mortgage, taxes, insurance, and provide an additional cushion for unexpected expenses, says Jean Allard, senior real estate specialist and vice president of Keystone Real Estate Group. But experts warn that you shouldnt buy a home unless you can afford the payment on your own in the event that there are vacancies. Ask a real estate agent how much your home could command in the vacation rental and long-term rental markets.

Be mindful of aging and rentability. Find a home with a single level so that stairs will not be an issue, Allard says. A retirement home should be ready to accommodate physical needs as they change. It should also need minimal work. Entry-level homes that are three bedrooms, two baths, around 1,300 square feet, and near (and not in) communities with Homeowners Associations tend to rent well, says Aimee Elizabeth, real estate investor and author of Poverty Sucks! How to Become a Self-Made Millionaire. You could buy a four bedroom, 2,000-square foot house that might cost you twice as much, but you wouldn't get twice the rent. You'd be lucky to get an extra $100 to $200 a month, she says.

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Renting to Retirement: Six Factors to Consider

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March 31st, 2012 at 12:55 am

Posted in Retirement

Retirement, Interrupted: A bleaker outlook for our kids

Posted: at 12:55 am


These are some of the major stories Report on Business followed this week. Get the top business stories on weekdays on BlackBerry or iPhone by bookmarking our mobile-friendly webpage.

Follow Michael Babad and Globe top business news on Twitter

Whither our youth I scraped in under the wire - well, a little more, actually - on the changes that will affect retirement in Canada. As did much of my generation.

That's small comfort to our children, many of whom are already suffering the after-effects of the financial crisis and recession, and who now also face retirement, interrupted.

Canada's Finance Minister unveiled a budget this week that will, in time, reset the age of retirement to 67 by hiking the age of eligibility for the Old Age Security benefit, worth more than $6,000 a year, from 65. That begins in 2023, and will be phased in, so it doesn't capture the Boomers.

It will, though, hit their kids, many of whom are already struggling with a youth unemployment rate of more than 14 per cent and, according to studies, face a hit to earnings because they graduated in a recession.

Thirty-two per cent of people between the ages of 25 and 54 will be relying on OAS and Canada Pension Plan and Quebec Pension Plan benefits as their prime source of income in retirement, according to a Harris Decima survey commissioned by Bank of Montreal's BMO Retirement Institute.

The change, along with others announced in Thursday's budget, is meant to help sustain the OAS program, which the government warns will cost $108-billion by 2030, compared with $38-billion in 2011.

As some observers note, retirement is still a long way away for many of those affected, and they could start planning immediately.

"At least for those still thinking about retiring at 65, they should be saving a higher percentage of their income now to raise a larger pool of private funds to draw down," said chief economist Avery Shenfeld of CIBC World Markets. "In practice, as opposed to theory, we dont expect that degree of rational planning to materially hit Canadas savings/consumption mix in the near term."

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Retirement, Interrupted: A bleaker outlook for our kids

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March 31st, 2012 at 12:55 am

Posted in Retirement


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