Why Plan for Retirement? This is a question that I come across quite often when researching and discussing retirement planning and options. Despite the constant news coverage of impending doom in regards to Social Security many Americans are still counting on their social security payments to support them through their retirement. The sad fact is that it simply isn't possible because the money isn't there. Sadder still is the fact that even if the money were there, it is doubtful that it would be enough to get the average American through their twilight years.
Americans are living longer than they have in decades past. In addition to longer lives we are leading more active lives. Gone are the days when retirees sat at home reading newspapers and mowing the lawn every other afternoon. Today's retirees are traveling, taking classes, learning to dance, and trying new things that they didn't have the opportunity to experience while setting aside funds for the future and going about the business of raising their own families. Now they are taking the time to do all these great things and these wonderful activities and pastimes require funds in order to enjoy.
This is the number one reason you should begin as early as possible not only setting aside funds for your retirement but making active plans on methods by which you can invest those funds in order to maximize the potential of limited funds. This is the time that it is best to take your plans, goals, and concerns to a financial planner and see what advice he or she can give you on setting specific goals, better defining your plans, and making the most of your investment means while establishing a realistic investment strategy that will not leave you feeling strapped for cash month after month.
We often overlook the important role that a good financial planner and good planning play in our financial futures. The same could be said of our financial retirements. We need to take every opportunity that is available to us in order to maximize our money. A good financial advisor will know of funds and strategies that we have never heard of. It makes sense to go to an expert when it concerns our family's future. We see experts when it comes to matters of law, health, and taxes-why on earth shouldn't we see an expert for our finances?
Why is it so important to have a plan? The long and short answer to this question is so that you won't end up needing a job in order to put food on your table once you've reached retirement age. The sad truth is that many of our retired citizens are finding themselves strapped for cash financially and barely able to make ends meet. If they are fortunate enough to have homes that are paid for, they often find the property taxes are a little more than they can handle without some sort of assistance. Medications are expensive despite government programs to keep costs down for our elderly, and then there are those who are simply living longer than their original retirement plans had accounted for. Combine all these factors with the fact that the cost of living has gone through unprecedented increases over the last two decades and you have some very real reasons to make plans for your future retirement.
It is best to begin making these plans as early as possible. It is not impossible to recover, however, if you begin the process a little later. The problem is that you will need to make some extra investments along the way in order to make up for lost time. The sooner you begin making plans for your financial retirement the healthier your retirement options will be. The best way to go about this is to define your retirement goals, make plans, and then take your goals and plans to a financial advisor and get his or her input. Investing smarter is much wiser than investing harder.
2008/02/21
Valentine’s Day with Someone Special
For many Valentine’s Day is one of the most romantic days of the years. For these couples this day is as special as their personal anniversaries or other special days they celebrate throughout the year. Therefore, they often want to plan a very special and romantic Valentine’s Day for them and their partner to enjoy. This article will provide some useful tips for those who will be spending Valentine’s Day with someone who is very special to them and are looking for ideas on how to plan a memorable day.
First of all consider, planning your Valentine’s Day celebration with your partner. Surprises are great and your partner may really appreciate your thoughtfulness and planning but one way to ensure your partner is thrilled with your plans for Valentine’s Day is to involve her in the planning process. Planning a special Valentine’s Day together gives you and your partner the opportunity to enjoy even more time together and to make plans which you know you will both love.
Another way to make sure your Valentine’s Day with someone special is a great day is to really put a great deal of time and effort into the planning. It can be difficult to plan a truly spectacular Valentine’s Day at the last minute because you are likely to run into a series of mishaps as a result of others trying to plan a great Valentine’s Day for themselves. To avoid this type of problem, plan way ahead and make all necessary reservations way in advance. If you put a great deal of time into planning your Valentine’s Day celebration, your partner is bound to notice. Conversely, if you try making plans at the last minute, she is likely to notice this as well and will likely feel disappointed that you didn’t spend more time planning.
Consider a weekend getaway for a truly memorable Valentine’s Day with someone special. A weekend getaway can be as elaborate as a long weekend on a tropical beach or a couple of days in a new city. It doesn’t matter where you go or what you do as much as it matters who you are with for this trip. If you are spending time with someone you love and going to a location you will both enjoy, it is sure to be a spectacular trip. For example a couple of sports enthusiasts might love a trip to the Baseball Hall of Fame in Cooperstown, NY while a couple who loves the outdoors may appreciate a camping trip in the mountains of CO.
If you are spending Valentine’s Day with someone special, you might want to consider giving your loved one a truly unique gift. For example red roses are one of the most traditional Valentine’s Day gifts but you can put a spin on this old fashioned idea. For example, if your girlfriend loves gardening you might give her a gift such as a few gardening tools and some bulbs that you can plant together in the spring. It may not seem like the most romantic gift to others but if you know it is something your loved one will cherish; it can be a great Valentine’s Day gift.
Another way to spend a memorable Valentine’s Day with someone special is to cook a dinner for her yourself. Many couples view Valentine’s Day as a time to go out to expensive restaurants and enjoy elaborate meals but other couples enjoy staying home and enjoying a quite meal together. You can take charge of the planning and do all the cooking yourself or you can involve your girlfriend and turn the cooking into part of the date. For example if you know how to make a particularly difficult dish, you might ask your partner to help you so you can teach her the basics of how to make the dish. The two of you can spend some time preparing the meal together and then enjoy the dinner by candlelight.
First of all consider, planning your Valentine’s Day celebration with your partner. Surprises are great and your partner may really appreciate your thoughtfulness and planning but one way to ensure your partner is thrilled with your plans for Valentine’s Day is to involve her in the planning process. Planning a special Valentine’s Day together gives you and your partner the opportunity to enjoy even more time together and to make plans which you know you will both love.
Another way to make sure your Valentine’s Day with someone special is a great day is to really put a great deal of time and effort into the planning. It can be difficult to plan a truly spectacular Valentine’s Day at the last minute because you are likely to run into a series of mishaps as a result of others trying to plan a great Valentine’s Day for themselves. To avoid this type of problem, plan way ahead and make all necessary reservations way in advance. If you put a great deal of time into planning your Valentine’s Day celebration, your partner is bound to notice. Conversely, if you try making plans at the last minute, she is likely to notice this as well and will likely feel disappointed that you didn’t spend more time planning.
Consider a weekend getaway for a truly memorable Valentine’s Day with someone special. A weekend getaway can be as elaborate as a long weekend on a tropical beach or a couple of days in a new city. It doesn’t matter where you go or what you do as much as it matters who you are with for this trip. If you are spending time with someone you love and going to a location you will both enjoy, it is sure to be a spectacular trip. For example a couple of sports enthusiasts might love a trip to the Baseball Hall of Fame in Cooperstown, NY while a couple who loves the outdoors may appreciate a camping trip in the mountains of CO.
If you are spending Valentine’s Day with someone special, you might want to consider giving your loved one a truly unique gift. For example red roses are one of the most traditional Valentine’s Day gifts but you can put a spin on this old fashioned idea. For example, if your girlfriend loves gardening you might give her a gift such as a few gardening tools and some bulbs that you can plant together in the spring. It may not seem like the most romantic gift to others but if you know it is something your loved one will cherish; it can be a great Valentine’s Day gift.
Another way to spend a memorable Valentine’s Day with someone special is to cook a dinner for her yourself. Many couples view Valentine’s Day as a time to go out to expensive restaurants and enjoy elaborate meals but other couples enjoy staying home and enjoying a quite meal together. You can take charge of the planning and do all the cooking yourself or you can involve your girlfriend and turn the cooking into part of the date. For example if you know how to make a particularly difficult dish, you might ask your partner to help you so you can teach her the basics of how to make the dish. The two of you can spend some time preparing the meal together and then enjoy the dinner by candlelight.
2008/02/18
Your Own Business!
This is my first post after the accidental. So You Want Your Own Business!
There are many reasons for wanting to start your own business, and most of us get to this point. Which one of the following applies to you?
• Freedom from daily routine.
• Doing what I want when I want.
• Improve my living standard.
• I want creative freedom.
• I want to fully use my skills, knowledge and education.
• I have a product/idea/service that people need.
• I’ll have more time with the family.
• I won’t have a dress code.
• There are good tax breaks for business owners.
• I’m a Type B person and work best alone.
• I want to be my own boss.
• I want to make the decisions.
Now granted, every one of the above is a good reason for wanting your own business. The rub is, that not many people think the process through – step by step. There are 7 phases to business planning. They are:
1. Investigation Phase
2. Planning Phase
3. Start-up Phase
4. Operating/Monitoring Phase
5. Problem/Challenge resolution Phases
6. Renewal/Expansion Phase
7. Selling, Transferring, Retirement Phase
We’ll cover all of the above in my next few columns as a “Business Basics” refresher, but for today let’s take number one.
In the Investigation Phase you take a look at yourself and also your business options. There are careers that are suited to personality types, so the first thing you must discern is “Which personality type am I?”
Duty Fulfillers
This is an introverted personality who is serious, quiet, thorough, orderly, matter-of-fact, logical, realistic, and dependable. They take responsibility, are well organized, know what should be accomplished and work steadily toward it disregarding distractions. They are careful calculators, and 20% of this group become accountants.
The Mechanics
These are also introverts and are cool onlookers. They are quiet, reserved, observing, and analyzing life with a detached curiosity and have unexpected flashes of original humor. They’re usually interested in cause and effect, how and why mechanical things work, and in organizing facts using logical principles. They usually are craftsmen, mechanics, or handymen with about 10% becoming farmers.
The Doers
These people are extraverts who are good at on-the-spot problem solving, don’t worry, enjoy whatever comes along, are adaptable, tolerant, and generally conservative in values. They tend to like mechanical things and sports, and dislike long explanations. They are best with “real” things that can be worked, handled, taken apart, or put together. About 10% of this type go into marketing or become Impresarios.
The Executives
These are another extravert group and are hearty, frank, decisive, leaders in activities and usually good in anything that requires reasoning and intelligent talk, such as public speaking. They’re usually well informed and enjoy adding to their fund of knowledge. They may sometimes appear more positive and confident than their experience in an area warrants. They’re sometimes called “judgers” and “thinkers” and 21% of this group become legal administrators.
To go into each personality type would be far too complicated, but to give you an idea of the roles that personality types could fall into look at the following list. Beside the categories we covered in depth here are some simply broken down into Introvert or Extravert Personality.
Introverts choose careers that satisfy being:
• Nurturers
• Guardians
• Artists
• Scientists
• Protectors
• Idealists
Extraverts are usually:
• Performers
• Visionaries
• The Inspirers
• Givers
• Caregivers
The second part of the Investigating Phase is looking at your business options. When choosing the business you want to start consider the following:
• Do you like to work with your hands or brain, or both?
• Does working indoors or outdoors matter?
• Are you good at math, writing, puzzles, blueprints, installing things or fixing things?
• What interests you? What are your hobbies?
• Do you like to work alone or as part of a team?
• Do you like to plan things, or go to events?
• Do you like machines, computers?
• Do you like to drive or operate equipment?
• Do you like to travel, collect/display things, give/attend shows, or take pictures?
• Are you small, large, strong?
Make a list of your likes and dislikes. Keep a diary of things you do that relate to business and rate each entry from 1 to 5 based on your interest. Then prepare a list of your strengths, weaknesses, opportunities and concerns. After doing all that, you should have a list of candidate businesses that are right for you. Then you can make a list of the “candidate businesses” and rate them from 1 to 5 based on your own chosen criteria.
Some criteria could be is it feasible, low in cost to establish, meets my objectives, will make money, there is a “niche” market of existing customers, or it will produce residual income to name just a few.
By the time you’ve accomplished all that, you should seriously consider visiting the local chapter of S.C.O.R.E. or your own mentor to use as a sounding board for your plan. Next week, if I haven’t dissuaded you so far, we’ll cover the Planning Phase.
There are many reasons for wanting to start your own business, and most of us get to this point. Which one of the following applies to you?
• Freedom from daily routine.
• Doing what I want when I want.
• Improve my living standard.
• I want creative freedom.
• I want to fully use my skills, knowledge and education.
• I have a product/idea/service that people need.
• I’ll have more time with the family.
• I won’t have a dress code.
• There are good tax breaks for business owners.
• I’m a Type B person and work best alone.
• I want to be my own boss.
• I want to make the decisions.
Now granted, every one of the above is a good reason for wanting your own business. The rub is, that not many people think the process through – step by step. There are 7 phases to business planning. They are:
1. Investigation Phase
2. Planning Phase
3. Start-up Phase
4. Operating/Monitoring Phase
5. Problem/Challenge resolution Phases
6. Renewal/Expansion Phase
7. Selling, Transferring, Retirement Phase
We’ll cover all of the above in my next few columns as a “Business Basics” refresher, but for today let’s take number one.
In the Investigation Phase you take a look at yourself and also your business options. There are careers that are suited to personality types, so the first thing you must discern is “Which personality type am I?”
Duty Fulfillers
This is an introverted personality who is serious, quiet, thorough, orderly, matter-of-fact, logical, realistic, and dependable. They take responsibility, are well organized, know what should be accomplished and work steadily toward it disregarding distractions. They are careful calculators, and 20% of this group become accountants.
The Mechanics
These are also introverts and are cool onlookers. They are quiet, reserved, observing, and analyzing life with a detached curiosity and have unexpected flashes of original humor. They’re usually interested in cause and effect, how and why mechanical things work, and in organizing facts using logical principles. They usually are craftsmen, mechanics, or handymen with about 10% becoming farmers.
The Doers
These people are extraverts who are good at on-the-spot problem solving, don’t worry, enjoy whatever comes along, are adaptable, tolerant, and generally conservative in values. They tend to like mechanical things and sports, and dislike long explanations. They are best with “real” things that can be worked, handled, taken apart, or put together. About 10% of this type go into marketing or become Impresarios.
The Executives
These are another extravert group and are hearty, frank, decisive, leaders in activities and usually good in anything that requires reasoning and intelligent talk, such as public speaking. They’re usually well informed and enjoy adding to their fund of knowledge. They may sometimes appear more positive and confident than their experience in an area warrants. They’re sometimes called “judgers” and “thinkers” and 21% of this group become legal administrators.
To go into each personality type would be far too complicated, but to give you an idea of the roles that personality types could fall into look at the following list. Beside the categories we covered in depth here are some simply broken down into Introvert or Extravert Personality.
Introverts choose careers that satisfy being:
• Nurturers
• Guardians
• Artists
• Scientists
• Protectors
• Idealists
Extraverts are usually:
• Performers
• Visionaries
• The Inspirers
• Givers
• Caregivers
The second part of the Investigating Phase is looking at your business options. When choosing the business you want to start consider the following:
• Do you like to work with your hands or brain, or both?
• Does working indoors or outdoors matter?
• Are you good at math, writing, puzzles, blueprints, installing things or fixing things?
• What interests you? What are your hobbies?
• Do you like to work alone or as part of a team?
• Do you like to plan things, or go to events?
• Do you like machines, computers?
• Do you like to drive or operate equipment?
• Do you like to travel, collect/display things, give/attend shows, or take pictures?
• Are you small, large, strong?
Make a list of your likes and dislikes. Keep a diary of things you do that relate to business and rate each entry from 1 to 5 based on your interest. Then prepare a list of your strengths, weaknesses, opportunities and concerns. After doing all that, you should have a list of candidate businesses that are right for you. Then you can make a list of the “candidate businesses” and rate them from 1 to 5 based on your own chosen criteria.
Some criteria could be is it feasible, low in cost to establish, meets my objectives, will make money, there is a “niche” market of existing customers, or it will produce residual income to name just a few.
By the time you’ve accomplished all that, you should seriously consider visiting the local chapter of S.C.O.R.E. or your own mentor to use as a sounding board for your plan. Next week, if I haven’t dissuaded you so far, we’ll cover the Planning Phase.
Subscribe to:
Posts (Atom)
