After 17 Seasons, Posada Announces Retirement – Video
Posted: January 31, 2012 at 1:25 am
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After 17 Seasons, Posada Announces Retirement - Video
Retirement on the edge
Posted: at 1:25 am
I heard a retirement planning horror story this morning, and I'll share it with you.
Because the law changed this year, making it simpler and more financially advantageous, more companies with frozen defined benefit retirement plans are offering employees and former employees a lump-sum payout. If you decide to accept their offer -- you don't have to; they can't force you -- think hard about what you're going to do with this pot of money. Here's why.
I was talking with the maintenance man at the building where I'm living this winter. He does a great job, and I've been very appreciative. But I thought he was working much too hard, and I told him so.
He told me that he's 66 and working seven days a week because he needs the money to live on and to replenish his savings. The reason, he says, was the illness of his late wife. He was an engineer who took early retirement from a company where he had worked for 30 years. He received his pension in a lump sum. Neither he nor his wife were old enough to qualify for Medicare. After their eligibility for his company insurance ran out, they didn't buy private insurance. Instead, they went without, hoping to get by until Medicare kicked in. It was a bad bet. His wife became seriously ill. Before she died, they spent their entire nest egg on medical care.
Stories like that are scary -- and not all that uncommon. If you opt for a lump sum, get help investing it safely -- maybe put some of it in a private annuity -- and buy long-term care insurance to protect yourself from medical disasters that can wipe you out.
Don't let that pot of money slip away. Unless you win the lottery, it's probably all you're going to get.
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Retirement on the edge
The Costliest States for Retirement
Posted: at 1:25 am
Planning to retire in 2012? You could be starting off at a disadvantage – financially, at least – if you live in one of these 10 states.
TopRetirements.com, a guide to retirement destinations and communities, recently published its list of the 10 worst states for retirement, looking primarily at financial considerations. In specific, the site evaluated each state in terms of its fiscal health, property taxes, state income taxes and cost of living. (The survey also included climate as a yardstick, under the assumption that most retirees “have a bias toward places with warmer winters.”)
The results: Retirees in the Northeast and Midwest will likely feel a greater pinch than their counterparts elsewhere in the country. Here are the states where your retirement dollars might not go as far as you wish:
1. Connecticut. Finished first (or last, depending on your perspective). The survey noted that Connecticut has some great towns for retirees and “considerable charm” – but those charms come at a price: steep property and incomes taxes, and a high cost of living.
2. Illinois. Actually, most pensions and Social Security payments aren’t taxed, but Illinois’s economic troubles – including deficit spending, unemployment and foreclosure rates – are “among the worst of any states,” according to the report.
3. Rhode Island. Again, high property taxes, coupled with underfunded pension and health liabilities and budget deficits.
4. Vermont. Residents face “very high” median property and incomes taxes, according to the study, as well as a top 10 cost of living.
5. Massachusetts. The good news: Social Security income and most government pensions are exempt from taxation. The not-so-good news: property taxes that are among the highest in the country.
[Also see: 5 American Cities Nearly Destroyed by the Recession]
Rounding out the bottom 10: New Jersey, Minnesota, New York, Maine and Wisconsin.
This is the second year that TopRetirements.com has ranked states as retirement destinations according to financial factors. The goal, according to the study: “to try to help baby boomers understand where, all other things being equal, they can enjoy their hard-earned retirement without taking on more problems.”
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The Costliest States for Retirement
Take Your Retirement on the Road
Posted: at 1:25 am
Lee Harrison and Julie Lowrey enjoyed long and successful careers in the nuclear power industry in New York. But as retirement age approached, Harrison began to wonder if he’d have enough money to support the kind of retirement lifestyle he and his wife Julie had long been looking forward to.
[See The 10 Best Places to Retire in 2012.]
Harrison made a very good living, but there wasn’t a lot left over after paying for Manhattan living expenses. Then something fortuitous happened. The engineering firm where Harrison and Lowrey were working was bought out by a larger one. Harrison, then age 49, saw the corporate restructuring as a chance for a bigger change.
Just as his company was remaking itself, Harrison began to imagine another approach to retirement. Browsing in a bookstore one afternoon, Harrison discovered a guide to retirement in Costa Rica. This book introduced him to retirement possibilities he’d never before considered.
Costa Rica, and countries like it, offer a desirable retirement lifestyle at a dramatically reduced cost. Retirement aboard also gives you an opportunity for a great adventure, and could allow you to retire years earlier than if you stayed in the U.S.
Harrison and Lowrey eventually decided against moving to Costa Rica. But instead of sticking around to continue moving up the company ladder after the restructuring, they decided to move to Cuenca, Ecuador.
[See The Real Best Places to Retire in 2012.]
But Cuenca was not the last stop in their retirement overseas adventure. After two years in Cuenca, the couple relocated to Uruguay’s Gold Coast. They called Punta del Este home for more than seven years. And now they are in the process of moving to Medellin, Colombia. "Medellin may be the pinnacle of our evolving retire overseas experience,” says Harrison. "I think this may be our last stop. Based on our 10 years of experience living and traveling around both Central and South America, it's hard to imagine somewhere better than here." Harrison and Lowrey have purchased an apartment in central Medellin and are in the process of selling their home in Punta del Este.
Serial retirement isn’t for everyone. There are many challenges associated with moving around to several countries the way Harrison and Lowrey have. But each stage of this journey has contributed to a rich, full, and rewarding retirement experience that continues to unfold.
Perhaps the best part is that Harrison and Lowrey are living what could be called a lifestyle of the rich and famous. They have been moving around from exotic locale to exotic locale, taking in one of the world’s most beautiful coastlines and living in an international jet-set destination.
[See 6 Affordable Places to Retire Abroad in 2012.]
Had they stayed in the U.S., Harrison and Lowrey would be living an average retirement lifestyle at best. They might even still be working. Taking their retirement on the road has allowed them to super-charge their standard of living, while reducing their expenses. They’re discovering some of the best lifestyle options the world has to offer, at a young age, without spending a fortune.
Kathleen Peddicord is the founder of the Live and Invest Overseas publishing group. With more than 25 years experience covering this beat, Kathleen reports daily on current opportunities for living, retiring, and investing overseas in her free e-letter. Her book, How To Retire Overseas—Everything You Need To Know To Live Well Abroad For Less, was recently released by Penguin Books.
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Take Your Retirement on the Road
2011 Golden Globes: Ricky Gervais’ full monologue and performance – Video
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2011 Golden Globes: Ricky Gervais' full monologue and performance - Video
UKASFP conference workshop – Hypnosis, Solution Focus, Success, Part 1 – Video
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UKASFP conference workshop - Hypnosis, Solution Focus, Success, Part 1 - Video
John Thomas – Video
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John Thomas - Video
Personal Development New Economy U CS Hughes Personal Success
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Personal Development New Economy U CS Hughes Personal Success
California Personal Injury Attorney James Ballidis Featured in New 'Champions' Book
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NEWPORT BEACH, Calif., Jan. 30, 2012 /PRNewswire/ -- James Ballidis, a prominent personal injury attorney, is a featured author in the newly released book "Champions: Knockout Strategies For Health, Wealth, and Success From Today's Leading Experts," which has already reached third place on Amazon's Best-Seller List since being published this past week.
"Would you like to improve your professional or personal life but aren't sure how, or have an idea but are afraid to act? Champions reveals the secrets to health, wealth, and success of experts and entrepreneurs from around the world. Whether seeking success in business, law, medicine, or life, today's leading innovators will guide you to develop a strategy to attain your goals and to overcome your fears of implementing them," said contributing author and California personal injury attorney James Ballidis of Allen, Flatt, Ballidis and Leslie, Inc., headquartered in Newport Beach and with offices in San Jose and Los Angeles.
"We've all struggled to reach where we are today, oftentimes as much with ourselves as with real obstacles, but we found the strength to overcome both," said Ballidis, whose firm represents people who have been involved in car accidents, truck accidents, pedestrian accidents, bus accidents, wrongful death and dog bites.
Read about these authors' journeys to health, wealth, and success by visiting Amazon.com to obtain your copy of bestseller Champions. Those who purchase today will also receive special bonuses when they send their receipt to bonus@CelebrityPressPublishing.com.
Click here to purchase your copy today!
Authors featured in Champions: Knockout Strategies For Health, Wealth, and Success From Today's Leading Experts: Ryan Lee; Steve Fox; Paul Mann; TJ Tillman; Priscilla Pelgen, Esq.; Lorne C. Poon, MD; Loretta M. Wollering; Dominick (Rusty) Bianca, Esq.; Hanna Hasl-Helchner, Esq.; Jeff Slayter; Kane Minkus; Martina Blumenthal, Ph.D.; Gary Martin Hays, Esq.; Adam Weart; Steve Jack; Brian Cannone; James Ballidis, Esq.; Lance Miller; Cathy Parlitsis; Chris Verrone; Robert Santarossa; Nick Nanton, Esq.; JW Dicks, Esq.; Lindsay Dicks; and Greg Rollett.
About James Ballidis
Contributing author and attorney James Ballidis has been guiding the victims of motor vehicle, bicycle, pedestrian, and other types of accidents through the personal injury claims process for more than 25 years, during which time he and the attorneys at his California personal injury law firm, Allen, Flatt, Ballidis and Leslie, have successfully tried and settled hundreds of claims, including multimillion-dollar verdicts. The firm has also won several important appeals addressing the bad faith conduct of insurance companies in the handling of injury, product, and wrongful death claims.
In addition to Champions: Knockout Strategies For Health, Wealth, and Success From Today's Leading Experts, Mr. Ballidis has served as a contributing author for several books and articles, as well as written many of his own. To request this book or others, please call 866-981-5596 or visit http://www.ca-personalinjuryattorney.com or http://www.thecaliforniainjurylawyer.com.
Publications, writers, researchers, and the press are invited to inquire and speak with Mr. Ballidis upon confirmation of appointment.
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California Personal Injury Attorney James Ballidis Featured in New 'Champions' Book
Personal Development: Top 10 Tips For A Success Mindset [video] – Video
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Personal Development: Top 10 Tips For A Success Mindset - Video