Retirement at Risk

Every passing day brings us one step closer to retirement. When economic conditions or personal finances are unclear, the road to retirement seems much longer, and the road on retirement seems to be a rocky and perilous one. Don’t panic, it’s time to plan.

Begin with the Serenity Prayer

“God, grant me the serenity to accept the things that I cannot change, the courage to change the things that I can, and the wisdom to know the difference.”

Regardless of personal faith or religious affiliation, nearly everyone can relate to that simple prayer. The wisdom is particularly relevant during challenging economic times. Headlines broadcast rising concerns regarding the price of gasoline, airlines eliminating routes and raising prices, and the HP lay-off 24,600 employees. The financial world is rocked by announcements regarding AIG, Merrill Lynch, and Lehman Brothers. Stocks, housing prices, and consumer confidence have tumbled faster than a Cirque du Soleil troupe on a double shot of espresso. With so many financial pillars falling, it is difficult, if not impossible, to avoid reeling from the pressures of the collateral damage. A person does not need to lose a job to feel the pinch when others do, and the number of people looking for new opportunities is steadily rising.

You may have some power over your travel arrangements, but limited personal power over the price of fuel. You may have power over the stock or retirement funds that you have selected, but limited personal power over Wall Street. You have some power over the decision to buy or sell your home, but limited personal power over the housing market values. You have some power over the money that you spend, but may have limited personal power to quickly impact the amount of money that you owe. Do you have the courage to change what you can, the serenity to accept what you cannot change, and the wisdom to remind yourself of the difference?

Don’t waste your time to panic over the things that you cannot change. Rather, spend your time to evaluate and adjust your plans for those areas that you can impact.

Stocks

Did you invest in stocks when the market was rising? Did you enjoy watching your money grow while you casually read the morning paper and sipped on a cup of coffee? Did you pat yourself on the back for having the wisdom to select the right stocks, and to have the patience to watch them grow and increase in value? If so, what active role did you play in contributing to the continuous growth of those stocks? More than likely, you watched them grow, and you watched them decline. If you do not immediately need the liquid assets for some other emergency, then please return to your coffee and morning paper to await the passing of this season. As with nature, autumn and winter are a necessary preparation for spring and summer. If you missed cashing out your investments at the peak, then it may be in your best interest to wait for thaw of the financial market, and look forward to watching the renewed growth.

In the meantime, keep an eye on any stocks with high risk, just to make sure that you do not experience the frost bite and icy cold finger of fate that touched such giants as AIG and Merrill Lynch. It is unwise to move stocks to get away from an investment, but a very wise move to transfer in the direction of a good investment. In other words, do not run hastily from a dangerous position, but rather move intelligently to a good one.

Mutual Funds

Hold on for the recovery. If you move when things are down, then you experienced the decline without giving yourself the chance to experience the rebound. As always, if you are not a professional financial advisor, then find one that you can trust to give you the guidance that you need. You would not even think about doing brain surgery on yourself, so why would you perform surgery on your own financial future?

Bonds

Treasury Bonds and Government Bonds do not offer fast moving overnight success or excitement. Treasury Bonds, unlike James Bond, are not sexy, and do not provide the exhilarating adrenaline rush of extreme risk with potential for flashy rewards. What you do have is a little more safety, a little more security, and a little more confidence that your investment will not be traded, bought out, or suddenly bankrupt. There are times that the tortoise may not keep pace with the hare, but when it comes to your retirement, you really do have the option to place your bets on both the tortoise and the hare. Put some of your money on the tortoise to finish, and the hare to place, and you have more than doubled your odds of winning.

Real Estate

If you can pay your mortgage and are happy in your home, then why are you worried if the housing prices decline? If you lived in your abode and experienced the unruly and exorbitant increases of housing prices for the last decade, did it really change your standard of living? If you did not already sell your home, was your lifestyle raised at the same rate and pace of the housing market? If the rising prices in housing did not improve your lifestyle, then the adjusted balancing of the market is not going to harm you either, so chill out.

On the other hand, if you accidentally bought into the housing market when it was at the peak, then you may have to wait a little while for the rebound to come back and exceed the levels of a year ago. Reassure yourself that real estate can sometimes be a long term investment. Land is the one thing that nobody can make any more of, so there will eventually be demand for it.

Mortgage

If your lender fails, you still need to pay your mortgage to the company that takes over ownership of the mortgage. If you receive an unexpected notice that your mortgage has been transferred, be cautious and investigate to confirm the transfer of ownership. Don’t let a scam artist take advantage of you during a period of uncertainty, but always make sure that you know where your money is going.

If your financial situation appears unstable or threatening due to the terms of your loan, then this is a very good time to address your concerns and evaluate your mortgage with the lender. While some banks and financial institutions allowed greater risk in recent years, the current concerns have placed a mutual concentrated commitment to secure profitable loans on good credit, and assure that mortgages can be paid. If you are concerned, then schedule a meeting to discuss options with your lender and express your interest in refinancing at lower rates. The lender wants your money, not your home, so you are already starting your conversation with common objectives.

Retirement Accounts

Retirement plan assets are protected, even if the plan sponsor fails. The good news is that your plan is probably not going away, although it is possible that the value of your plan may be doing a disappearing act. This disappearing act is far from magic, and not nearly as entertaining. The risk and reward of many 401K accounts is intertwined with stock market performance, so you may be in for a bumpy ride. Furthermore, like social security, there are peaks and valleys of generations contributing to funds and withdrawing funds. Your crystal ball has as much chance of being correct as the magic eight ball. Don’t put all of your eggs in one basket, because although the basket may not go anywhere, there is no guarantee as to how many eggs will be left in it. Keep a few of your eggs in other safe places, just in case.

Savings Accounts

If your savings account is in an FDIC insured bank, your funds are protected up to $100,000. If the fund that insures the accounts fails, the government covers the balance up to $100,000. If you have more than the maximum insured amount in your savings, perhaps you should consider keeping funds in several different FDIC insured banks. It may be a good idea to use more than one bank or credit union to hold enough funds to pay the bills for a short period of time, in the unlikely and unfortunate event that your primary bank temporarily suspends access to funds for some reason. FDIC protection does not cover money market mutual funds.

Insurance

AIG received much attention and immediate government intervention when it made headline news. In the event that an insurer does go bankrupt, the state regulator takes over to make sure that policies are honored. In fact, the consumer insurance subsidiary of AIG was never in trouble, so consumer insurance plans were not as risk.

Credit Cards

Now this is an area that you should really pay attention to, and plan accordingly. Banks will issue more credit cards in an effort to increase profits. These credit cards are targeted at people with good credit records, but they will come with much higher penalties and increased fees. In a weaker economy, as personal finances are impacted by job transitions, reduced access to loans, or if your profession relies on transactions (sales, real estate, construction, entertainment, etc), it may become increasingly difficult to pay down credit card debt due to reduced income.

Review your bills each month to determine if there are some monthly recurring charges to your credit card that can be cancelled or reduced. If you are carrying a balance forward, make a plan for the amount you will reduce your balance each month. Set a date to pay off your credit card completely, and hold yourself accountable to that date. Start paying with cash, when appropriate, and make a journal of your transactions. Reduce your reliance on the convenience of credit cards for personal use until the economic storm has passed.

Remember that your Credit Card payments impact your overall credit score. As the economy tightens, it is incumbent upon lenders to act responsibly and to limit the access for loans and mortgages to individuals with good credit scores. Lower scores mean higher down payment or rates. Don’t let a lack of attention to Credit Cards become a costly impediment to other important purchases or transitions that you make want or have to make in the future. Moving, selling, or buying a home may be in your future, so don’t let the Credit Cards slip beyond your control now. Even if your Credit Card Company fails, your history and debt remain, and are transferred to another company.

Borrowing Money

To put it simply, this is not a good time to borrow money. Banks will be eager to lend, but only if the bank believes that you have good credit and that the bank has the ability to profit from your loan. If the bank is assured of making profit, it is money coming from your loan, and out of your pocket. If you are considering borrowing money as a way to get out of a hole, like paying off credit cards, then have a plan on how to get out of the hole that is created when you take out a loan. Digging a hole to use the dirt to fill another hole is only a temporary solution, and may have unpleasant strings attached.

Recession

The threat of recession is the constant beating of a drum. Although we may not always see it, we hear it all around us. There are many contributing factors to this economic illness, so there is no single medicine to cure it. As an individual, it is not something that you can change, so it takes serenity to accept it. Be prepared for the ways that it can impact you personally and professionally. Professions that rely on transactions may slow as liquid assets dry up. Real Estate, construction, travel, and entertainment have already been visibly affected, and this trend will continue at least into the first half year of 2009. Professionals that rely on these transactions will have to adjust, and so will all of the businesses that rely on these individuals as consumers. You cannot change that either. However, you can make personal decisions and plans that will impact your immediate financial security, and your long term investments.

Conversely, during times of recession and economic turmoil, individuals often turn to low cost alternatives to boost morale and self-esteem. While housing sales are in a slump and investors are rattling sabers on Wall Street, the lesser luxury items are in higher demand. Make-up, lipstick, diet foods, and small personal luxury items sales are still strong. Cell phones, iPods, and low cost consumer electronics help us forget about the incessant beating of the recession drums, at least for a little while. There is nothing wrong with feeling good about yourself as the world around you screams of panic. You can be serene, because you know what is within your control, and you are making plans for it.

It is highly recommended to seek the recommendations of licensed financial advisors. Do not make decisions based on haste, remorse, or fear. Make your decisions based on an educated balance of immediate needs and long term security. Like the seasons, real estate, the stock market, and the economy will return and flourish in due time. Your goal is to weather the winter storm and be ready for the next summer.

This article is not intended to render legal or financial advice. If you require legal advice, you should seek the services of an attorney. If you require financial advice, you should seek the services of an accountant or licensed financial advisor.

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Words of Wisdom

“Most people get interested in stocks when everyone else is. The time to get interested is when no one else is. You can’t buy what is popular and do well.”
- Warren Buffet

“We have seen a significant increase in demand from senior executives across the USA and in Europe who wish to leave the corporate world and become independent small business owners, franchise owners or equity partners. While stockholders are pushing hard for corporate re-engineering, executives are facing a job market where it takes on average 1-year to find a new executive job that may last at best, for only 2-years.”
- Richard P. Driscoll, Jr. Chairman & CEO, The Executive Connection LLC

“While the Internet is becoming cluttered with volumes of meaningless data, it has become essential to deliver clear crisp communications in a matter of seconds.With the objective of presenting the alternative of independent business ownership to corporate senior executives who are considering a career change, we have worked diligently to both educate and inform.”
- Warren Denby, Chief Marketing Officer, The Executive Connection LLC

“I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and res

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Calorie burners: Best classes for the bucks

It takes five hundred calories burnt everyday to lose a pound in a week. In order to lose more than a pound a week burn more calories through exercise. But how does one find the workout that will help burn the most calories? There are so many workout classes on offer all promising to help us lose weight. Which ones help burn those offending calories the fastest? Kick boxing, spinning, yoga, dancing are just a few forms of workout that can easily burn five hundred calories or more per class.

Step aerobics is a good workout for anyone looking to get rid of calories. Not only do they help lose weight, they increase strength, fitness and agility. The higher the step the more the calories are burned. Basic stepping at the music speed of 120 beats per minute will burn approximately 7 calories per minute. Higher steps and tougher choreography can burn up to 11 calories per minute. On an average step aerobics burns 400-650 calories per hour.

Yoga combines exercise and meditation. It aims to connect the mind, body and spirit. Practicing yoga takes people feel happier, peaceful and more energetic. Improve sleep, reducing stress and normalizing weight are just a few benefits of yoga. The amount of calories it burns during an hour of practicing yoga is less than other forms of exercise. Basic forms of yoga like Hatha, Asthanga, and Power yoga burn 175 300 calories per hour on average. However, Vinyasa and Bikram yoga burn between 450-600 calories.

Kick boxing increases flexibility, strength and stamina. Cardio kick-boxing is a popular form of exercise which does not involve physical contact with any competitor. It is one of the biggest calorie burning work outs. An hour long class includes 10-15 minutes of warm up followed by 30 minutes of kick boxing after which 5 minutes are for cooking down and 10 minutes for stretching. An hour of kick boxing can burn anywhere from 600-1200 calories depending on the intensity of workout and weight of the boxer.

Pilates is known more for toning the body than for burning calories. Pilates concentrates on core strength building and working every muscle in your body through stretching. An hour long session of Pilates burns about 360 calories. In order to lose weight, balance Pilates with cardiovascular exercises that help burn more calories.

Spinning classes are great for cardiovascular fitness. It also helps increase lung capacity and helps build muscles. Spinning is done indoors in a gym or a fitness clubs. It involves a group of people riding stationary bicycles spinning rapidly to loud music and the instructor talking the participants through an outdoor visualization. Spinning is often referred to as the toughest workout. High resistance of the bike pedals and fast pace burns more calories. A 45 minute workout can burn up to 500 calories.

Belly Dancing is a fun way to burn calories. Belly dancing classes have various workouts and the calorie burnout depends on how much effort is put into it. The more you dance the more calories are burned. An average workout of belly dancing burns about 300 calories per hour.

How fast a person burns calories also depends upon the make-up of their metabolism. A form of exercise that worked wonders for one might not make any difference for another. It is important to find the exercise best suited for the body. No matter what form of exercise is chosen, motivation, determination and a strong will is needed to stick to a workout to burn calories effectively.

How you can benefit from doing Yoga excercises?

Yoga is a very popular form of exercising these days. There are many kinds of Yoga and they are all considered a good way to keep both a healthy body and a healthy spirit. There are many benefits for doing Yoga on a regular basis.

It is estimated that about 6 percent of Americans are doing Yoga once a day. This number increased a lot in the last few years as Yoga came to the front line of what is considered a healthy way of life. Although almost all physical exercise also benefits the mind Yoga is perceived to be unique in its equally important influence on both the body and the mind. The saying healthy mind in a healthy body is synonymous to Yoga.

Yoga has been practiced for thousands of years although it became so popular just recently. Yoga was developed with mind and body as one entity that needs to be nurtured. Yoga does not consider the body and the mind to be separate but aims to unite them into one healthy and wholesome entity. Yoga does not put unnecessary physical stress on the body. Instead it brings the body and mind into a harmony that can help delay the aging process and make one feel younger and healthier. Yoga is not the same as meditation and or spiritual ceremonies although many times it is confused to be exactly that.

One of the most important elements of Yoga is breathing. Yoga focuses on breathing on stretching and on using all of the body muscles from the large muscle groups to each small muscle in the body. Breathing helps control the mind. Yoga is usually done in a quiet room or with some soothing music. Yoga is not a competitive sport basically it is everybody to themselves and thus there is no unnecessary competitive stress when practicing Yoga.

Yoga promotes self awareness and meditation quality. By slowly and deeply breathing and by staying in one position for a long time the mind can concentrate and can communicate with each part of the body. Oxygen flow can increase to parts of the body where it otherwise depleted.

It is believed that Yoga can help many illnesses from random pain to diebitis and more. There is no scientific proof for that but it is believed that due to better oxygen flow and better physical and spiritual condition the body immune system gets stronger and the body can fight such illnesses more effectively.

Like any other form of exercise Yoga should be accompanied by a balanced and healthy life style. Doing some Yoga and then running to the local joint to eat a cheese burger is not the recommended way in order to benefit from Yoga. Yoga looks at a person as a wholesome entity. In order to benefit from Yoga and to be healthier and feel better you should not just exercise Yoga on a regular basis but you should also live a Yoga life style. Eat in moderation and try to consume as much nutritious and healthy food. Eat lots of vegetables and fruits and drink lots of water.

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How to know when you need a dietary supplement – Part 1

Whether or not you need to take a dietary supplement depends on different factors such as your diet, your lifestyle, and of course some things that you can not control.

Here are some reasons that you may want to consider to be a reason to take dietary supplements ~

1. Your diet ~ You do not eat a well balanced diet. Even if you consume a small amount of food a day under 1200 calories then you may need to take supplements. It limits the amount of nutrition that your body is consuming and needs. So therefore your body needs supplements to gain the nutrition it needs to function at its best.

2. Postmenopausal woman ~ women loss estrogen after menopause which results in bone loss. To keep your bones strong a woman after menopause is suggested to take a supplement. Calcium and vitamin D are essential for menopausal women!

3. You smoke or drink ~ We all know that it is not good for us, but many of us do it anyway. Although dietary supplements will not reverse the effects that alcohol and smoking will do to your body, it can help you.

4. You are pregnant or trying to become pregnant ~ Of course you should consult your doctor, but they always prescribe a pregnant women with prenatal vitamins. During this time your body is absorbing all the nutrients it can for your baby, so you will need to take vitamins for your health.

5. You have health issues ~ There are several health issues that your doctor may suggest to you taht you take some sort of supplement. Going to your doctor and asking them what they suggest is essential to make sure that you take the correct vitamins your body needs due to any health issues.

6. Your age ~ The older you get, the more you need to make sure that you are getting the correct nutrition your body needs. Many people do not get enough calcium their bones and teeth need. There are also other factors that you age will play on whither or not you should take vitamins. Ask your doctor what they suggest as a dietary supplement for you.

7. If your a vegetarian ~ Vegetarians often do not get adequate amounts of iron, calcium, and other vitamins in their diet. Making sure that your body is receiving everything it needs when you a vegetarian is important and that is way you should take vitamins.

8. Just for assurance ~ If you are not sure that you are consuming everything taht your body needs then taking a dietary supplement can ease your mind.

If you eat a well balanced diet and exercise regularly then you may not need to take a supplement. It is always best to talk with your doctor before starting any diet or dietary supplement.

Diet for Weight Loss

Diet free weight loss is an all natural, all safe way program design to help anyone at any level loses weight quickly and easily. Who can benefit from diet free weight loss? Anyone who interested in losing weight and getting in shape, it doesn’t matter your age, size or shape anyone can get involved and succeed in this program. How can diet free weight loss help you? Diet free weight loss will give you all the necessary steps and instructions for you to do in order to reach your goals quickly and easily. Diet free weight loss don’t require that you take any drugs, pills, or to go on any crazy starvation diet.

Some rapid weight loss diets declare that they can help you lose lots of weight in a matter of days. This reason for this rapid weight loss does of course come at a price; you are limited to eating only select fruit and vegetables only. You can either cook these or just eat them raw, the choice is yours. Should you choose to cook your fruit and vegetables you will have to look at your cooking methods. It is no good going on a rapid weight loss diet if you are going to use a load of oil, grease, and fats in your cooking process.

Weight loss supplements come in many forms including powders, capsules, tablets, liquids, and soft gels. This article will discuss weight loss supplements and whether or not they are absolutely necessary for weight loss. Many people lose weight without the use of a single supplement. If you eat the proper diet and exercise regularly, you will lose weight. However, you will lose weight much more rapidly if you take weight loss supplements.

Probably the most popular free healthy weight loss options found in the internet today is the free diet recipe. Thousands of websites are providing free diet recipes for people who are interested. These recipes focus on taking a low calorie diet, ingesting either in protein-rich foods or cutting back on overall intake altogether. Although there are hundreds of free and healthy weight loss diet plans out there, there are also tons of fraudulent recipes. The key is to find the safest and most effective recipe. In order to do so, you have to consult an expert, such as a doctor or nutritionist.

You should know that Weight Loss 4 Idiots has a fruit day. Some people don’t like it one bit and find it hard to stick to. And indeed it’s not the easiest thing in the world. However, each 11 days cycle of this diet only has one such day, so you should be able to tough it out. This diet requires to drink at least 8 glasses of water each day. Again, some people find it difficult to do, though I recommend it regardless of the diet since it’s very healthy. Weight Loss 4 Idiots reviews from people who used this diet are overall positive, yet some people do fail with this diet. It’s not 100% foolproof.

Chinese diet tea causes rapid and substantial weight loss. Chinese diet tea prevents the formation of body fat. Experts say that intake of Chinese diet tea significantly increase energy expenditure and also significantly effect on fat oxidation. Chinese diet tea does not contain caffeine that’s why it does not affect heart rate. So it is safe and highly helps in weight loss.

How to start the Atkins diet

If you want to start The Atkins Diet the very first thing you should do is get hold of a copy of the official book, “Dr Atkins’ New Diet Revolution”. This is readily available in most book stores or you can also buy a used copy from Amazon for just a few dollars. Don’t just go by tips from friends or bits of information picked up here and there. You have to realize that this will almost certainly be a drastic change in your eating habits and it is therefore important that you get it right! Once you have the book then read it, cover to cover, so that you are fully aware of what the diet entails. It’s not a huge book and is written in an easily digestible (no pun intended!) way so reading it is not a big undertaking.

Set a date to start the diet. Choose your date carefully, avoid times when you know you will be under a lot of stress (particularly important if you tend to comfort eat), and also try to avoid times when you will be required to exert yourself physically. For the first week or so of The Atkins Diet your energy levels will probably be low so this is not the time to be undertaking anything that is physically strenuous. Also, as with most diet regimens it’s best to avoid any functions where food will be served during the first few weeks at least, although eating out on Atkins is not as difficult as many other diets.

When I started The Atkins Diet I lived alone, so I was lucky in that I didn’t have to consider what anyone else in the home was going to be eating. If you also live alone then the day before your start date purge your home of all the items that you know you won’t be eating. This includes bread, potatoes, rice, milk, cereals, potato chips, chocolate and candies, and anything else that isn’t on the approved foods list. Don’t be wasteful and bin the items, give them to someone else who can use them. How far you take this is of course up to you. Personally I got rid of everything that wasn’t allowed on the diet but I guess if you have items in your freezer you may want to hold on to them. The important thing is to not have anything readily available to you if a carb-craving should strike in the first few days! If you have a partner and/or other family members to consider then this part is trickier of course. The main thing is try to avoid temptation so if, for instance, you have a favorite type of cookie now is not the time to have any packs of that cookie in your store cupboard!

Finally make sure you have at least one two litre bottle of still water available and a supply of dietary supplements. The bottled water is important even if you normally drink tap water, because you will need to carry some with you when away from the home. As for the dietary supplements, there is a proprietary Atkins supplement of vitamins and minerals which is also readily available. If you do not wish to buy that (and I recommend that you do!) then the essential minerals you will need to take during the Induction phase of the diet are pottasium, zinc and calcium.

Good luck and happy dieting!

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